6206 NE 54th St · Kansas City, MO 64119

$140,000

2 bd · 1.0 ba · 772 sqft · SingleFamily public records · 6 Days on market

Built 1941 0.44 ac lot $181/sqft · 15% below area Est $165k · 15% 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 +26.6/30.0
• ARV discount +14.3/15.0
• DSCR +9.1/10.0
• 1% rule +6.4/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• Schools +3.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming Kansas City bungalow, perfectly tucked away on nearly half an acre and surrounded by mature trees for added privacy and tranquility. From the moment you arrive, you’ll be drawn in by the inviting front porch—ideal for slow mornings and evening conversations. Out back, a second porch offers a more secluded space to relax, entertain, or simply enjoy the peaceful setting. The expansive, tree-lined lot is a rare find, providing endless possibilities for outdoor living, gardening, or future expansion. It’s the kind of space that gives you flexibility while still feeling cozy and manageable. Inside, this 2-bedroom, 1-bath home offers a warm and functional layout, ready for its next owner to move in and make it their own over time. Conveniently located in the Northland, this home offers quick access to major highways, is just minutes from downtown Kansas City, and close to the KC Current stadium—making it an ideal blend of quiet living and city accessibility. Whether you’re a first-time buyer, downsizing, or looking for a property with land and potential, this one checks the boxes.

Key facts

• 0.44 acre lot
• Built 1941
• Listed 6 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $376 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 9.5% 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.
• North Kansas City 74 (urban): math 38% / reading 49% proficiency, ranked #98 of 324 in MO (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.1%/yr); 183 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 341 units permitted in Clay County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Clay County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 17y 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.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,000

Questions for the listing agent

1. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.14% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.50%
• DSCR: 1.51
• GRM: 7.3

CMA / ARV

• ARV (median comp): $164,823
• List price: $140,000
• Delta: -15.06%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6206 NE 54th St	0.00mi	2/1.0	772 (0%)	1mo	$140,000	$181	100
5214 N Wheeling Ave	0.28mi	2/1.0	755 (-2%)	16mo	$115,000	$152	70
6924 NE 56th St	0.41mi	2/1.0	720 (-7%)	4mo	$149,900	$208	66
5525 NE Meadowbrook Rd	0.59mi	2/1.0	768 (-0%)	10mo	$165,000	$215	63
5040 N Beacon Ave	0.45mi	2/1.0	744 (-4%)	14mo	$185,000	$249	62
5218 N Wheeling Ave	0.27mi	2/1.0	660 (-14%)	3mo	$170,000	$258	60
5711 N Compton St	0.30mi	2/1.0	872 (+13%)	10mo	$80,000	$92	56
5314 N Cambridge Ave	0.43mi	2/1.0	840 (+9%)	14mo	$95,000	$113	54
6005 NE 50th St	0.58mi	2/1.0	722 (-6%)	11mo	$180,000	$249	53
5142 N Corrington Ave	0.73mi	3/1.0 (+1)	816 (+6%)	13mo	$190,000	$233	41
5032 N 56th Ter	0.72mi	3/1.0 (+1)	838 (+8%)	9mo	$200,000	$239	40
5869 N Oakley Ave	0.73mi	3/1.0 (+1)	869 (+13%)	2mo	$210,000	$242	38

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 · 6.09% rent growth · sell at horizon

5-year hold

• IRR: 4.1%
• Equity multiple: 1.16×
• Total profit: $6,350
• Equity at exit: $20,874

10-year hold

• IRR: 16.1%
• Equity multiple: 2.50×
• Total profit: $58,664
• Equity at exit: $12,105

Cash invested: $39,200 (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 64119

• Rents YoY: 6.1%
• Active inventory: 183
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,599 high
• Mortgage (P&I): −$734
• Tax from tax record: −$95 /mo · $1,143/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $376

Break-even live

Break-even rent $1,124

Max offer price $140,000

Occupancy floor 72%

Sensitivity live

Price	-10% $455	-5% $415	+0% $376	+5% $336	+10% $297
Rent	-10% $249	-5% $313	+0% $376	+5% $439	+10% $502
Rate	-1.0pp $446	-0.5pp $411	base $376	+0.5pp $340	+1.0pp $303

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6130 NE Vivion Rd Kansas City, MO	3.0	1.0	1056	$1,675	$1.59	11d	1	0.21mi
5042 N Bellaire Ave Kansas City, MO	2.0	1.0	900	$1,391	$1.55	24d	1	0.47mi
5128 N Palmer Ave Kansas City, MO	3.0	2.0	905	$1,646	$1.82	45d	1	0.98mi
8030 NE 50th St Kansas City, MO	3.0	1.5	1047	$1,595	$1.52	4d	1	1.24mi
4515 NE 46th Ter Kansas City, MO	3.0	1.0	1047	$1,585	$1.51	24d	1	1.43mi

Listing history 10 events

1. 2026-05-05
   status Pending 1146-char remark

   Show marketing remark (1146 chars)

   Welcome to this charming Kansas City bungalow, perfectly tucked away on nearly half an acre and surrounded by mature trees for added privacy and tranquility. From the moment you arrive, you’ll be drawn in by the inviting front porch—ideal for slow mornings and evening conversations. Out back, a second porch offers a more secluded space to relax, entertain, or simply enjoy the peaceful setting. The expansive, tree-lined lot is a rare find, providing endless possibilities for outdoor living, gardening, or future expansion. It’s the kind of space that gives you flexibility while still feeling cozy and manageable. Inside, this 2-bedroom, 1-bath home offers a warm and functional layout, ready for its next owner to move in and make it their own over time. Conveniently located in the Northland, this home offers quick access to major highways, is just minutes from downtown Kansas City, and close to the KC Current stadium—making it an ideal blend of quiet living and city accessibility. Whether you’re a first-time buyer, downsizing, or looking for a property with land and potential, this one checks the boxes.

2. 2026-05-02
   status Active 1146-char remark

   Show marketing remark (1146 chars)

   Welcome to this charming Kansas City bungalow, perfectly tucked away on nearly half an acre and surrounded by mature trees for added privacy and tranquility. From the moment you arrive, you’ll be drawn in by the inviting front porch—ideal for slow mornings and evening conversations. Out back, a second porch offers a more secluded space to relax, entertain, or simply enjoy the peaceful setting. The expansive, tree-lined lot is a rare find, providing endless possibilities for outdoor living, gardening, or future expansion. It’s the kind of space that gives you flexibility while still feeling cozy and manageable. Inside, this 2-bedroom, 1-bath home offers a warm and functional layout, ready for its next owner to move in and make it their own over time. Conveniently located in the Northland, this home offers quick access to major highways, is just minutes from downtown Kansas City, and close to the KC Current stadium—making it an ideal blend of quiet living and city accessibility. Whether you’re a first-time buyer, downsizing, or looking for a property with land and potential, this one checks the boxes.

3. 2026-04-25
   status Pending 1146-char remark

   Show marketing remark (1146 chars)

   Welcome to this charming Kansas City bungalow, perfectly tucked away on nearly half an acre and surrounded by mature trees for added privacy and tranquility. From the moment you arrive, you’ll be drawn in by the inviting front porch—ideal for slow mornings and evening conversations. Out back, a second porch offers a more secluded space to relax, entertain, or simply enjoy the peaceful setting. The expansive, tree-lined lot is a rare find, providing endless possibilities for outdoor living, gardening, or future expansion. It’s the kind of space that gives you flexibility while still feeling cozy and manageable. Inside, this 2-bedroom, 1-bath home offers a warm and functional layout, ready for its next owner to move in and make it their own over time. Conveniently located in the Northland, this home offers quick access to major highways, is just minutes from downtown Kansas City, and close to the KC Current stadium—making it an ideal blend of quiet living and city accessibility. Whether you’re a first-time buyer, downsizing, or looking for a property with land and potential, this one checks the boxes.

4. 2026-04-22
   listed $140,000 Active 1146-char remark

   Show marketing remark (1146 chars)

   Welcome to this charming Kansas City bungalow, perfectly tucked away on nearly half an acre and surrounded by mature trees for added privacy and tranquility. From the moment you arrive, you’ll be drawn in by the inviting front porch—ideal for slow mornings and evening conversations. Out back, a second porch offers a more secluded space to relax, entertain, or simply enjoy the peaceful setting. The expansive, tree-lined lot is a rare find, providing endless possibilities for outdoor living, gardening, or future expansion. It’s the kind of space that gives you flexibility while still feeling cozy and manageable. Inside, this 2-bedroom, 1-bath home offers a warm and functional layout, ready for its next owner to move in and make it their own over time. Conveniently located in the Northland, this home offers quick access to major highways, is just minutes from downtown Kansas City, and close to the KC Current stadium—making it an ideal blend of quiet living and city accessibility. Whether you’re a first-time buyer, downsizing, or looking for a property with land and potential, this one checks the boxes.

5. 2026-04-19
   historical $140,000 1146-char remark

   Show marketing remark (1146 chars)

   Welcome to this charming Kansas City bungalow, perfectly tucked away on nearly half an acre and surrounded by mature trees for added privacy and tranquility. From the moment you arrive, you’ll be drawn in by the inviting front porch—ideal for slow mornings and evening conversations. Out back, a second porch offers a more secluded space to relax, entertain, or simply enjoy the peaceful setting. The expansive, tree-lined lot is a rare find, providing endless possibilities for outdoor living, gardening, or future expansion. It’s the kind of space that gives you flexibility while still feeling cozy and manageable. Inside, this 2-bedroom, 1-bath home offers a warm and functional layout, ready for its next owner to move in and make it their own over time. Conveniently located in the Northland, this home offers quick access to major highways, is just minutes from downtown Kansas City, and close to the KC Current stadium—making it an ideal blend of quiet living and city accessibility. Whether you’re a first-time buyer, downsizing, or looking for a property with land and potential, this one checks the boxes.

6. 2009-11-03
   soldstatus
7. 2009-10-28
   soldstatus 236-char remark

   Show marketing remark (236 chars)

   Look at the improvements on this home: Changed the front elevation, New interior paint, New Carpet, New Flooring, New Appliances, New Roof, New Deck, and much, much more. Flooring and some additional repairs will be completed by Aug 21

8. 2009-08-14
   listed $63,500 236-char remark

   Show marketing remark (236 chars)

   Look at the improvements on this home: Changed the front elevation, New interior paint, New Carpet, New Flooring, New Appliances, New Roof, New Deck, and much, much more. Flooring and some additional repairs will be completed by Aug 21

9. 2009-06-11
   soldstatus
10. 2009-02-05
    listed $25,000

ⓘ 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: $1,143 · $95/mo
• Projected year-2 tax: $1,358 · $113/mo
• Expected delta: +$215/yr (+$18/mo · 18.8%)

ⓘ 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 ≥107°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: $19,193
• − Mortgage interest: −$7,842
• − Property taxes: −$1,143
• − Insurance: −$700
• − Repairs & maintenance: −$1,535
• − Management: −$1,535
• − Depreciation: −$4,073
• Taxable income: $2,364
• Est. tax owed @ 24.0%: −$567
• After-tax cash flow: $3,942/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: North Kansas City 74
• NCES district ID: 2922800
• Math proficiency: 38% ▼ -11.00%
• Reading proficiency: 49% ▼ -3.00%
• Median HH income: $55,444
• Composite: 37.88/100
• National rank: #4321
• State rank: #98 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: Clay County · 220,651 people
• City population: 439,467
• Metro: Kansas City, MO-KS
• Population (ZIP): 33,199
• Household income: $83,929
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 603.0

Population outlook (Clay County) Hauer SSP2

• Today (2025): 266,022 people
• By 2030: 280,057 · +5.3%
• By 2040: 306,153 · +15.1%
• By 2050: 328,630 · +23.5%
• By 2075: 375,182 · +41.0%
• By 2100: 392,861 · +47.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 8% Two or more races 8% Black 7% Asian 3% Pacific Islander 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 2% Italian 2% Slovak 2%
• Foreign-born: 7% · Canada, Vietnam, Jamaica
• Languages at home: 90% English-only · Spanish 5% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Clay

• 2024 margin: Lean R (+5.6) · D 46.4% · R 52.0% · Other 1.6%
• 2008→2024 swing: -4.9pp toward R · 2008: -0.7pp · 2024: -5.6pp
• All cycles: 2024: R+5.6 2020: R+4.1 2016: R+11.1 2012: R+8.4 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -253.39%
• Current HPI: 215.8366
• Rent YoY: ▲ 6.09%
• 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

+460.0% since first listed

10 events — show timeline

• 2026-05-05 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-05-02 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-04-25 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-22 Listed $140,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-19 Coming Soon $140,000 Heartland MLS as Distributed by MLS Grid
• 2009-11-03 Sold (Public Records) — Public Records
• 2009-10-28 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2009-08-14 Listed $63,500 Heartland MLS as Distributed by MLS Grid
• 2009-06-11 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2009-02-05 Listed $25,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+2.8%/yr

Latest (2025): $1,143 · +12.4% YoY. Source: county tax records.