9409 E Independence Ave

Independence, MO 64053

$79,900B+

2 bd · 1.0 ba · 616 sqft · Built 1925 · SingleFamily · Active · 134 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $890/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$73
• HOA: −$0
• Vac / Maint / Mgmt: −$187
• Net cashflow: $211/mo
• Annual: $2,533/yr
• Cap rate: 9.46%
• Cash-on-cash: 11.32%
• DSCR: 1.50
• 1% rule: 1.11%
• Cash to close: $22,372

Investor read

• This is a 2-bed/1.0-bath single-family listed at $80k. Condition is rated fair.
• At list price, monthly cash flow is $211 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($890 rent vs $80k).
• It's been on market 134 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• In year one you build about $9k of equity ($552 loan paydown + $8k appreciation (10.0% local appreciation)).
• Location reads 82/100 on livability (#10 in MO, #1,296 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D+, crime F.
• Independence 30 (suburban): math 26% / reading 38% proficiency, ranked #252 of 324 in MO (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fairmount Elem. (math 27% / reading 37%, grade F, #761 of 1,115 statewide, top 72%, 312 students, 82% FRL); Clifford H. Nowlin Middle (math 13% / reading 29%, grade F, #342 of 391 statewide, top 88%, 875 students, 80% FRL); Van Horn High (math 13% / reading 27%, grade F, #472 of 521 statewide, top 91%, 1,047 students, 72% FRL) — zoned schools average 78% FRL vs 58% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 61 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 47d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 69% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• Jackson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 7 sale attempts since 21y ago 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 9.5% vs local median 5.0% in Independence — 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.

Questions for listing agent

• It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The roof appears to be in poor condition, with visible damage and potential leaks.
• Major: exterior walls — The house appears to be in a state of disrepair, with peeling paint and missing siding.
• Major: fencing — The fencing appears to be in poor condition, with overgrown vegetation and a lack of maintenance.