2532 S 51st Ter · Kansas City, KS 66106

$205,900

4 bd · 1.0 ba · 1,824 sqft · SingleFamily public records · 62 Days on market

Built 1953 7,405 sqft lot Est $321k · 36% under ↓ 8% since listing

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Cash flow +14.4/30.0
• 1% rule +4.5/10.0
• DSCR +4.4/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

PRICE IMPROVEMENT! To $205K Sellers consider all reasonable offers. Great opportunity to own this 4 bedroom /1 bath in the Award Winning Turner School District. Corner lot with fenced yard. Many new updates. .. .flooring, granite, cabinets, garage door opener, roof and newer hot water tank. Bring your friends and family over to entertain in your bonus family room right off the kitchen next to your fenced in patio. We welcome all offers!

Key facts

• 7,405 sq ft lot
• Garage
• Built 1953

Property features AI

Finance

• HOA & community: Association fee billed annually (if applicable)

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Ranch-style; One-story
• Construction: Vinyl siding; Composition roof; Slab foundation; Home age approximately 51–75 years
• Exterior features: Yard on a 7,405 sq ft lot; Not in a flood plain

Interior

• Bedrooms: 4 bedrooms (main level for at least two bedrooms)
• Flooring: Carpet in multiple bedrooms; Ceramic tile in bathroom(s)
• Bathrooms: 1 full bathroom with ceramic tile
• Heating & cooling: Floor furnace heating; Heat pump cooling
• Interior features: Ranch floor plan

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $206k.

Deal economics

• At list price, monthly cash flow is $40 ($481/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (5.4% below list).
• Recommended offer: $194k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 4.8% in Kansas City — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 72/100 on livability (#103 in KS) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, employment D-.
• Turner-Kansas City (urban): math 15% / reading 22% proficiency, ranked #161 of 169 in KS (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 94 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 369 units permitted in Wyandotte County in 2024 (236 in 5+ unit buildings).
• This rent runs 38% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Wyandotte County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $33k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $193,546 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.83%
• DSCR: 1.04
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $321,024
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2640 S 53rd St	0.28mi	4/2.0	1,944 (+7%)	11mo	$324,900	$167	63
2716 S 46th St	0.67mi	4/3.0	1,874 (+3%)	3mo	$350,000	$187	54
4606 Ottawa Ave	0.66mi	3/2.5 (-1)	1,740 (-5%)	5mo	$306,000	$176	47
2818 S 54 St	0.48mi	3/2.5 (-1)	1,677 (-8%)	10mo	$270,000	$161	45
4881 Shawnee Dr	0.69mi	4/2.5	1,759 (-4%)	13mo	$198,000	$113	44
2138 S 48th St	0.54mi	3/1.5 (-1)	1,638 (-10%)	8mo	$190,000	$116	44
5112 Douglas Ave	0.72mi	4/2.5	1,676 (-8%)	7mo	$295,000	$176	41
5421 Crest Dr	0.61mi	3/2.0 (-1)	1,584 (-13%)	0mo	$300,000	$189	40
2138 S 48th Ter	0.49mi	3/2.0 (-1)	1,557 (-15%)	4mo	$260,000	$167	40
2848 S 53rd Ter	0.50mi	3/2.0 (-1)	1,558 (-15%)	5mo	$280,000	$180	39
5416 Locust Ln	0.71mi	3/1.5 (-1)	1,682 (-8%)	11mo	$270,000	$161	38
5403 Hazen Ave	0.71mi	3/2.0 (-1)	1,616 (-11%)	2mo	$285,000	$176	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.47×
• Total profit: $-30,734
• Equity at exit: $30,700

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-23,164
• Equity at exit: $17,802

Cash invested: $57,652 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Kansas: 83 Strongly Landlord-Friendly · R+10
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; moderate court pace.

Methodology + full state rankings →

ZIP-level market 66106

• Active inventory: 94
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,948 medium
• Mortgage (P&I): −$1,080
• Tax from tax record: −$333 /mo · $4,002/yr
• Insurance: −$86
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $40

Break-even live

Break-even rent $1,898

Max offer price $205,900

Occupancy floor 93%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $51,475
• Closing costs: $6,177
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5012 Powell Ave Kansas City, KS	3.0	2.0	1452	$1,895	$1.31	14d	1	1.43mi

Listing history 25 events

1. 2026-06-18
   days on market $205,900 Active 62 DOM
2. 2026-06-17
   days on market $205,900 Active 61 DOM
3. 2026-06-16
   days on market $205,900 Active 60 DOM
4. 2026-06-15
   days on market $205,900 Active 59 DOM
5. 2026-06-13
   days on market $205,900 Active 57 DOM
6. 2026-06-13
   days on market $205,900 Active 56 DOM
7. 2026-06-09
   days on market $205,900 Active 53 DOM
8. 2026-06-08
   remarks 440-char remark
9. 2026-06-08
   pricedays on market $205,900 Active 52 DOM
10. 2026-06-07
    days on market $214,900 Active 51 DOM
11. 2026-06-03
    days on market $214,900 Active 47 DOM
12. 2026-06-02
    days on market $214,900 Active 46 DOM
13. 2026-06-01
    days on market $214,900 Active 45 DOM
14. 2026-05-31
    days on market $214,900 Active 44 DOM
15. 2026-05-15
    price $219,000
16. 2026-05-15
    status Active
17. 2026-05-07
    status Pending
18. 2026-04-11
    listed $239,000 Active
19. 2026-04-10
    historical $239,000
20. 2025-11-21
    historical
21. 2025-10-24
    price $219,000
22. 2025-10-01
    price $229,000
23. 2025-09-25
    status Active
24. 2025-09-15
    historical
25. 2025-09-10
    listed $239,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast KS · Resets to sale price

• Current annual tax: $4,002 · $333/mo
• Projected year-2 tax: $4,002 · $333/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,379
• − Mortgage interest: −$11,534
• − Property taxes: −$4,002
• − Insurance: −$1,030
• − Repairs & maintenance: −$1,870
• − Management: −$1,870
• − Depreciation: −$5,990
• Taxable loss: −$2,916
• Est. tax savings @ 24.0%: +$700
• After-tax cash flow: $1,181/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Turner-Kansas City
• NCES district ID: 2012360
• Math proficiency: 15% ▼ -5.00%
• Reading proficiency: 22% ▼ -1.00%
• Median HH income: $45,753
• Composite: 16.24/100
• National rank: #9222
• State rank: #161 of 169 in KS

Livability — Kansas City

• Score: 72/100
• State rank: #103
• US rank: #6054

Category grades

Amenities A Commute A+ Cost of living A+ Crime F Employment D- Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kansas City, KS
• County: Wyandotte County · 130,206 people
• City population: 130,206
• Metro: Kansas City, MO-KS
• Population (ZIP): 24,245
• Household income: $61,331
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 583.0

Population outlook (Wyandotte County) Hauer SSP2

• Today (2025): 177,063 people
• By 2030: 183,212 · +3.5%
• By 2040: 195,697 · +10.5%
• By 2050: 207,897 · +17.4%
• By 2075: 236,169 · +33.4%
• By 2100: 255,790 · +44.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 47% Hispanic / Latino 38% Two or more races 12% Black 8% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: Lithuanian 2% Italian 1% Slovak 1%
• Foreign-born: 14% · Canada
• Languages at home: 68% English-only · Spanish 29% Other Asian/Pacific 2%

Political lean MEDSL · Wyandotte

• 2024 margin: Strong D (+23.9) · D 61.1% · R 37.3% · Other 1.6%
• 2008→2024 swing: -17.0pp toward R · 2008: 40.9pp · 2024: 23.9pp
• All cycles: 2024: D+23.9 2020: D+30.9 2016: D+29.1 2012: D+36.4 2008: D+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -253.32%
• Current HPI: 239.6957
• Rent YoY: —
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

-8.4% since first listed

11 events — show timeline

• 2026-05-15 Price Changed $219,000 Heartland MLS as Distributed by MLS Grid
• 2026-05-15 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-05-07 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-11 Listed $239,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-10 Coming Soon $239,000 Heartland MLS as Distributed by MLS Grid
• 2025-11-21 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-10-24 Price Changed $219,000 Heartland MLS as Distributed by MLS Grid
• 2025-10-01 Price Changed $229,000 Heartland MLS as Distributed by MLS Grid
• 2025-09-25 Relisted — Heartland MLS as Distributed by MLS Grid
• 2025-09-15 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-09-10 Listed $239,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+6.5%/yr

Latest (2025): $4,002 · +11.0% YoY. Source: county tax records.