520 Chelsea Ave · Kansas City, MO 64124

$170,000

4 bd · 2.0 ba · 1,560 sqft · MultiFamily public records · 95 Days on market

Built 1953 6,458 sqft lot Est $290k · 41% under

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Why this score? — see what drove the B 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).

• Cash flow +28.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.0/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

2 bed 1 bath units with their own basements. Tenants will be moved out on both sides prior to close. Currently rented for $850 each side but potential for up to 1,000 each side.

Key facts

• 6,458 sq ft lot
• Built 1953
• Listed 95 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $170k.

Deal economics

• At list price, monthly cash flow is $550 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $155k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 3.9% 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 78/100 on livability (#28 in MO, #2,671 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools C-, crime F.
• Kansas City 33 (urban): math 12% / reading 24% proficiency, ranked #308 of 324 in MO (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.2%/yr); 52 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $2,040/mo this rent would consume 53% of the median local household income ($46k/yr) (locally 541% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Jackson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $48k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

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

Recommended offer $154,700 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% 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. 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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 10.17%
• Cash-on-cash: 13.86%
• DSCR: 1.62
• GRM: 6.9

CMA / ARV

• ARV (median comp): $290,190
• List price: $170,000
• Delta: -41.42%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.2% rent growth · sell at horizon

5-year hold

• IRR: 3.2%
• Equity multiple: 1.12×
• Total profit: $5,804
• Equity at exit: $25,348

10-year hold

• IRR: 12.0%
• Equity multiple: 1.91×
• Total profit: $43,412
• Equity at exit: $14,698

Cash invested: $47,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 81 Strongly Landlord-Friendly
• State Missouri: 81 Strongly Landlord-Friendly · R+10
• County: — inherits STATE
• City: — inherits STATE

Generally landlord-friendly; St Louis has some habitability requirements.

Methodology + full state rankings →

ZIP-level market 64124

• Home prices YoY: -26.0%
• Rents YoY: 2.2%
• Active inventory: 52
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $2,040 high
• Mortgage (P&I): −$891
• Tax from tax record: −$99 /mo · $1,193/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $550

Break-even live

Break-even rent $1,344

Max offer price $170,000

Occupancy floor 68%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,040
Total (2 units)			$2,040

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
815 Elmwood Ave Kansas City, MO	3.0	1.5	1302	$1,600	$1.23	14d	1	0.37mi
218 N Elmwood Ave Kansas City, MO	4.0	2.0	1184	$1,500	$1.27	44d	1	0.55mi
5213 Wilburn Ct Kansas City, MO	3.0	1.0	1274	$1,375	$1.08	21d	1	0.60mi
4405 Norledge Ave Kansas City, MO	3.0	1.0	1510	$1,600	$1.06	44d	1	0.65mi
3510 Garner Ave Kansas City, MO	3.0	2.0	1536	$1,400	$0.91	3d	1	0.81mi
441 N Hardesty Ave Kansas City, MO	4.0	1.0	1511	$1,550	$1.03	23d	1	0.81mi
3523 Saint John Ave Kansas City, MO	3.0	1.0	1500	$995	$0.66	23d	1	0.86mi
216 N Wheeling Ave Kansas City, MO	3.0	2.0	1474	$1,495	$1.01	16d	1	0.89mi
216 N Wheeling Ave Kansas City, MO	3.0	2.0	1474	$1,495	$1.01	20d	1	0.89mi
3429 Morrell Ave Kansas City, MO	4.0	1.5	1800	$1,650	$0.92	7d	1	0.91mi
311 Bellefontaine Ave Kansas City, MO	3.0	2.0	1360	$2,200	$1.62	44d	1	1.19mi
307 Bellefontaine Ave Kansas City, MO	3.0	3.0	2023	$3,500	$1.73	16d	1	1.19mi
916 Bellefontaine Ave Kansas City, MO	3.0	1.5	1399	$1,650	$1.18	16d	1	1.19mi
1233 Benton Blvd Kansas City, MO	4.0	2.5	1500	$2,500	$1.67	44d	1	1.23mi
1812 Elmwood Ave Kansas City, MO	3.0	1.0	1650	$1,600	$0.97	16d	1	1.23mi
1805 Jackson Ave Kansas City, MO	4.0	2.0	1250	$1,250	$1.00	44d	1	1.27mi
1905 Kensington Ave Kansas City, MO	3.0	2.0	1285	$1,325	$1.03	23d	1	1.32mi
2919 E 12th St Kansas City, MO	3.0	2.0	1943	$2,000	$1.03	44d	1	1.33mi

Listing history 18 events

1. 2026-06-18
   days on market $170,000 Active 95 DOM
2. 2026-06-17
   days on market $170,000 Active 94 DOM
3. 2026-06-16
   days on market $170,000 Active 93 DOM
4. 2026-06-15
   days on market $170,000 Active 92 DOM
5. 2026-06-13
   days on market $170,000 Active 90 DOM
6. 2026-06-09
   days on market $170,000 Active 86 DOM
7. 2026-06-08
   days on market $170,000 Active 85 DOM
8. 2026-06-07
   days on market $170,000 Active 84 DOM
9. 2026-06-05
   days on market $170,000 Active 81 DOM
10. 2026-06-03
    days on market $170,000 Active 80 DOM
11. 2026-06-02
    days on market $170,000 Active 79 DOM
12. 2026-06-01
    days on market $170,000 Active 78 DOM
13. 2026-05-31
    days on market $170,000 Active 77 DOM
14. 2026-04-30
    status Active 177-char remark

    Show marketing remark (177 chars)

    2 bed 1 bath units with their own basements. Tenants will be moved out on both sides prior to close. Currently rented for $850 each side but potential for up to 1,000 each side.

15. 2026-04-20
    status Pending 177-char remark

    Show marketing remark (177 chars)

    2 bed 1 bath units with their own basements. Tenants will be moved out on both sides prior to close. Currently rented for $850 each side but potential for up to 1,000 each side.

16. 2026-03-05
    listed $170,000 Active 177-char remark

    Show marketing remark (177 chars)

    2 bed 1 bath units with their own basements. Tenants will be moved out on both sides prior to close. Currently rented for $850 each side but potential for up to 1,000 each side.

17. 2021-12-16
    soldstatus
18. 1994-09-15
    soldstatus

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

Tax reassessment forecast MO · Resets to sale price

• Current annual tax: $1,193 · $99/mo
• Projected year-2 tax: $1,649 · $137/mo
• Expected delta: +$456/yr (+$38/mo · 38.2%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,480
• − Mortgage interest: −$9,523
• − Property taxes: −$1,193
• − Insurance: −$850
• − Repairs & maintenance: −$1,958
• − Management: −$1,958
• − Depreciation: −$4,945
• Taxable income: $4,052
• Est. tax owed @ 24.0%: −$972
• After-tax cash flow: $5,626/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: Kansas City 33
• NCES district ID: 2916400
• Math proficiency: 12% ▼ -8.00%
• Reading proficiency: 24% ▬ 0.00%
• Median HH income: $35,227
• Composite: 14.8/100
• National rank: #9387
• State rank: #308 of 324 in MO

Livability — Kansas City

• Score: 78/100
• State rank: #28
• US rank: #2671

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kansas City, MO
• County: Jackson County · 687,798 people
• City population: 439,467
• Metro: Kansas City, MO-KS
• Population (ZIP): 10,925
• Household income: $46,241
• Rent vs Own: 52.6% rent · 47.4% own
• Severe rent burden: 541.0

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 719,589 people
• By 2030: 731,456 · +1.6%
• By 2040: 746,689 · +3.8%
• By 2050: 749,289 · +4.1%
• By 2075: 736,227 · +2.3%
• By 2100: 668,210 · -7.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 43% White 30% Black 20% Two or more races 10% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 30% Cuban 1%
• Common ancestry: Italian 2% Hispanic 1% Serbian 1%
• Foreign-born: 32% · Canada, Vietnam
• Languages at home: 52% English-only · Spanish 35% Vietnamese 2% Arabic 2%

Political lean MEDSL · Jackson

• 2024 margin: D (+19.3) · D 58.9% · R 39.5% · Other 1.6%
• 2008→2024 swing: -6.1pp toward R · 2008: 25.4pp · 2024: 19.3pp
• All cycles: 2024: D+19.3 2020: D+22.0 2016: D+16.6 2012: D+19.0 2008: D+25.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -125.95%
• Current HPI: 358.4244
• Rent YoY: ▲ 2.20%
• Metro: Kansas City, MO-KS
• State GDP YoY: ▲ 1.84%
• F500 in state: 20

Industry mix (Fortune 500 HQ in MO)

Industry	F500 HQs	Revenue
▸Healthcare	1	$163B
▸Insurance	1	$21B
▸Industrial Technology	1	$17B
▸Retail	1	$16B
▸Industrial Distribution	1	$10B
▸Utilities	1	$9B

Price history

5 events — show timeline

• 2026-04-30 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-04-20 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-03-05 Listed $170,000 Heartland MLS as Distributed by MLS Grid
• 2021-12-16 Sold (Public Records) — Public Records
• 1994-09-15 Sold (Public Records) — Public Records

Property tax history

+4.9%/yr

Latest (2025): $1,193 · +16.9% YoY. Source: county tax records.