920 S Main Ave · Independence, MO 64050

$369,000

4 bd · 4.0 ba · 2,272 sqft · MultiFamily public records · 49 Days on market

Built 1905 6,802 sqft lot

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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 +28.5/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Livability +4.1/5.0
• Rent growth +3.4/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 5 units. estimate disagrees with records

Listing remarks MLS

Down the street from Independence Square, great location. If you have been looking for your next investment then look no further! This turnkey 5-unit property will make a great addition to your investment portfolio. Offering an attractive unit mix, it features a 2 bed 2 bath unit, a 1 bed 1 bath unit, and 3 studios, catering to diverse tenant needs. The exterior has been impeccably maintained, boasting a delightful yard, privacy fence, tasteful landscaping, a newer roof, and an inviting front porch. Step inside the 1st-floor 2 bed 2 bath unit and experience the spaciousness and openness it exudes. Recent updates include newer flooring, fresh paint, contemporary light fixtures, and modern can lights, complementing the unit's ambiance. You will also find a very nice kitchen, as well as two updated and modern bathrooms, adding to the unit's overall appeal. The second-floor houses two more updated units. Studio Unit #3 has received new flooring, fresh paint, and a nicely renovated kitchen featuring new cabinets, countertops, a stylish backsplash, and stainless steel appliances. Meanwhile, Unit #4, a 1 bed 1 bath, currently occupied, has undergone a complete remodel and is meticulously cared for by the current tenant. Moving to the third floor, two more inviting studios await, fully remodeled. Monthly rents are $4225.. .low taxes

Key facts

• 6,802 sq ft lot
• Built 1905
• Listed 49 days

What this means for you Summary

Snapshot

• This is a 1×2bd/2ba + 1×1bd/1ba + 3×?bd/1ba units multifamily listed at $369k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $241/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $369k).
• Recommended offer: $358k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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.

Location & tenants

• 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: schools C-, 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.
• Market conditions: Rents rising (+3.8%/yr); 125 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $4,311/mo this rent would consume 106% of the median local household income ($49k/yr) (locally 972% 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 $3k of loan paydown is wiped out by about $11k 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 + 3.8% rent growth), your $103k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($358k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y ago; this cycle's ask has dropped $20k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $357,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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.
8. 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.
9. 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: 1.17% ✓
• Cap rate: 10.21%
• Cash-on-cash: 14.01%
• DSCR: 1.62
• GRM: 7.1

CMA / ARV

• ARV (median comp): $215,601
• List price: $369,000
• Delta: 71.15%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.79% rent growth · sell at horizon

5-year hold

• IRR: 5.0%
• Equity multiple: 1.20×
• Total profit: $20,322
• Equity at exit: $55,019

10-year hold

• IRR: 15.1%
• Equity multiple: 2.26×
• Total profit: $130,395
• Equity at exit: $31,904

Cash invested: $103,320 (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 64050

• Home prices YoY: -15.5%
• Rents YoY: 3.8%
• Active inventory: 125
• Price-to-rent: 31.4×

Monthly cashflow live

• Estimated rent: $4,311 medium
• Mortgage (P&I): −$1,935
• Tax from tax record: −$111 /mo · $1,330/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$905
• Net cashflow: $1,206

Break-even live

Break-even rent $2,784

Max offer price $369,000

Occupancy floor 67%

Sensitivity live

Price	-10% $1,415	-5% $1,310	+0% $1,206	+5% $1,102	+10% $997
Rent	-10% $865	-5% $1,036	+0% $1,206	+5% $1,376	+10% $1,547
Rate	-1.0pp $1,392	-0.5pp $1,300	base $1,206	+0.5pp $1,110	+1.0pp $1,013

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

Units	Beds	Baths	Est. rent
1× unit	2	2	$979
1× unit	1	1	$853
▸ 3× units	0	1	$2,478
Total (5 units)			$4,311

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: $92,250
• Closing costs: $11,070
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
718 E Gudgell Ave Independence, MO	4.0	2.0	1624	$1,775	$1.09	17d	1	0.92mi
2356 S Crysler Ave Independence, MO	3.0	2.0	1881	$1,653	$0.88	24d	1	0.95mi
1223 E 25th St S Independence, MO	3.0	2.5	1982	$1,856	$0.94	8d	1	1.19mi

Listing history 22 events

1. 2026-06-18
   days on market $369,000 Active 49 DOM
2. 2026-06-17
   days on market $369,000 Active 48 DOM
3. 2026-06-16
   days on market $369,000 Active 47 DOM
4. 2026-06-15
   days on market $369,000 Active 46 DOM
5. 2026-06-13
   days on market $369,000 Active 44 DOM
6. 2026-06-09
   days on market $369,000 Active 40 DOM
7. 2026-06-08
   days on market $369,000 Active 39 DOM
8. 2026-06-07
   pricedays on market $369,000 Active 38 DOM
9. 2026-06-05
   days on market $389,000 Active 35 DOM
10. 2026-06-03
    days on market $389,000 Active 34 DOM
11. 2026-06-02
    days on market $389,000 Active 33 DOM
12. 2026-06-01
    days on market $389,000 Active 32 DOM
13. 2026-05-31
    days on market $389,000 Active 31 DOM
14. 2026-04-30
    listed $389,000 Active 1346-char remark

    Show marketing remark (1346 chars)

    Down the street from Independence Square, great location. If you have been looking for your next investment then look no further! This turnkey 5-unit property will make a great addition to your investment portfolio. Offering an attractive unit mix, it features a 2 bed 2 bath unit, a 1 bed 1 bath unit, and 3 studios, catering to diverse tenant needs. The exterior has been impeccably maintained, boasting a delightful yard, privacy fence, tasteful landscaping, a newer roof, and an inviting front porch. Step inside the 1st-floor 2 bed 2 bath unit and experience the spaciousness and openness it exudes. Recent updates include newer flooring, fresh paint, contemporary light fixtures, and modern can lights, complementing the unit's ambiance. You will also find a very nice kitchen, as well as two updated and modern bathrooms, adding to the unit's overall appeal. The second-floor houses two more updated units. Studio Unit #3 has received new flooring, fresh paint, and a nicely renovated kitchen featuring new cabinets, countertops, a stylish backsplash, and stainless steel appliances. Meanwhile, Unit #4, a 1 bed 1 bath, currently occupied, has undergone a complete remodel and is meticulously cared for by the current tenant. Moving to the third floor, two more inviting studios await, fully remodeled. Monthly rents are $4225.. .low taxes

15. 2026-04-29
    historical $389,000 1346-char remark

    Show marketing remark (1346 chars)

    Down the street from Independence Square, great location. If you have been looking for your next investment then look no further! This turnkey 5-unit property will make a great addition to your investment portfolio. Offering an attractive unit mix, it features a 2 bed 2 bath unit, a 1 bed 1 bath unit, and 3 studios, catering to diverse tenant needs. The exterior has been impeccably maintained, boasting a delightful yard, privacy fence, tasteful landscaping, a newer roof, and an inviting front porch. Step inside the 1st-floor 2 bed 2 bath unit and experience the spaciousness and openness it exudes. Recent updates include newer flooring, fresh paint, contemporary light fixtures, and modern can lights, complementing the unit's ambiance. You will also find a very nice kitchen, as well as two updated and modern bathrooms, adding to the unit's overall appeal. The second-floor houses two more updated units. Studio Unit #3 has received new flooring, fresh paint, and a nicely renovated kitchen featuring new cabinets, countertops, a stylish backsplash, and stainless steel appliances. Meanwhile, Unit #4, a 1 bed 1 bath, currently occupied, has undergone a complete remodel and is meticulously cared for by the current tenant. Moving to the third floor, two more inviting studios await, fully remodeled. Monthly rents are $4225.. .low taxes

16. 2023-09-27
    soldstatus Closed 1738-char remark

    Show marketing remark (1738 chars)

    If you have been looking for your next investment then look no further! This turnkey 5-unit property will make a great addition to your investment portfolio. Offering an attractive unit mix, it features a 2 bed 2 bath unit, a 1 bed 1 bath unit, and 3 studios, catering to diverse tenant needs. The exterior has been impeccably maintained, boasting a delightful yard, privacy fence, tasteful landscaping, a new roof, and an inviting front porch with fresh outdoor carpet. This property may be purchased along with MLS #2448154 and MLS #2448153 Step inside the 1st-floor 2 bed 2 bath unit and experience the spaciousness and openness it exudes. Recent updates include new flooring, fresh paint, contemporary light fixtures, and modern can lights, complementing the unit's ambiance. You will also find a very nice kitchen, as well as two updated and modern bathrooms, adding to the unit's overall appeal. The second-floor houses two more updated units. Studio Unit #3 has received new flooring, fresh paint, and a nicely renovated kitchen featuring new cabinets, countertops, a stylish backsplash, and stainless steel appliances. Meanwhile, Unit #4, a 1 bed 1 bath, currently occupied, has undergone a complete remodel and is meticulously cared for by the current tenant. Moving to the third floor, two more inviting studios await, fully remodeled and awaiting new tenants, offering immediate income potential. This property presents an excellent opportunity for a fantastic cash-flowing asset, enabling the new owner to start screening tenants from day one. Don't miss out on this rare turnkey gem at an attractive price point. Reach out to your agent or schedule a showing today, as opportunities like this don't come around very often!

17. 2023-08-07
    status Pending 1738-char remark

    Show marketing remark (1738 chars)

    If you have been looking for your next investment then look no further! This turnkey 5-unit property will make a great addition to your investment portfolio. Offering an attractive unit mix, it features a 2 bed 2 bath unit, a 1 bed 1 bath unit, and 3 studios, catering to diverse tenant needs. The exterior has been impeccably maintained, boasting a delightful yard, privacy fence, tasteful landscaping, a new roof, and an inviting front porch with fresh outdoor carpet. This property may be purchased along with MLS #2448154 and MLS #2448153 Step inside the 1st-floor 2 bed 2 bath unit and experience the spaciousness and openness it exudes. Recent updates include new flooring, fresh paint, contemporary light fixtures, and modern can lights, complementing the unit's ambiance. You will also find a very nice kitchen, as well as two updated and modern bathrooms, adding to the unit's overall appeal. The second-floor houses two more updated units. Studio Unit #3 has received new flooring, fresh paint, and a nicely renovated kitchen featuring new cabinets, countertops, a stylish backsplash, and stainless steel appliances. Meanwhile, Unit #4, a 1 bed 1 bath, currently occupied, has undergone a complete remodel and is meticulously cared for by the current tenant. Moving to the third floor, two more inviting studios await, fully remodeled and awaiting new tenants, offering immediate income potential. This property presents an excellent opportunity for a fantastic cash-flowing asset, enabling the new owner to start screening tenants from day one. Don't miss out on this rare turnkey gem at an attractive price point. Reach out to your agent or schedule a showing today, as opportunities like this don't come around very often!

18. 2023-08-02
    listed $294,900 Active 1738-char remark

    Show marketing remark (1738 chars)

    If you have been looking for your next investment then look no further! This turnkey 5-unit property will make a great addition to your investment portfolio. Offering an attractive unit mix, it features a 2 bed 2 bath unit, a 1 bed 1 bath unit, and 3 studios, catering to diverse tenant needs. The exterior has been impeccably maintained, boasting a delightful yard, privacy fence, tasteful landscaping, a new roof, and an inviting front porch with fresh outdoor carpet. This property may be purchased along with MLS #2448154 and MLS #2448153 Step inside the 1st-floor 2 bed 2 bath unit and experience the spaciousness and openness it exudes. Recent updates include new flooring, fresh paint, contemporary light fixtures, and modern can lights, complementing the unit's ambiance. You will also find a very nice kitchen, as well as two updated and modern bathrooms, adding to the unit's overall appeal. The second-floor houses two more updated units. Studio Unit #3 has received new flooring, fresh paint, and a nicely renovated kitchen featuring new cabinets, countertops, a stylish backsplash, and stainless steel appliances. Meanwhile, Unit #4, a 1 bed 1 bath, currently occupied, has undergone a complete remodel and is meticulously cared for by the current tenant. Moving to the third floor, two more inviting studios await, fully remodeled and awaiting new tenants, offering immediate income potential. This property presents an excellent opportunity for a fantastic cash-flowing asset, enabling the new owner to start screening tenants from day one. Don't miss out on this rare turnkey gem at an attractive price point. Reach out to your agent or schedule a showing today, as opportunities like this don't come around very often!

19. 2001-07-17
    soldstatus
20. 2001-07-16
    soldstatus
21. 2001-05-30
    listed $110,000
22. 1992-06-19
    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: $1,330 · $111/mo
• Projected year-2 tax: $3,579 · $298/mo
• Expected delta: +$2,249/yr (+$187/mo · 169.1%)

ⓘ 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 ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,732
• − Mortgage interest: −$20,670
• − Property taxes: −$1,330
• − Insurance: −$1,845
• − Repairs & maintenance: −$4,139
• − Management: −$4,139
• − Depreciation: −$10,735
• Taxable income: $8,876
• Est. tax owed @ 24.0%: −$2,130
• After-tax cash flow: $12,342/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: Independence 30
• NCES district ID: 2915480
• Math proficiency: 26% ▼ -8.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $41,843
• Composite: 27.04/100
• National rank: #7054
• State rank: #252 of 324 in MO

Livability — Independence

• Score: 82/100
• State rank: #10
• US rank: #1296

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Independence, MO
• County: Jackson County · 687,798 people
• City population: 117,675
• Metro: Kansas City, MO-KS
• Population (ZIP): 21,079
• Household income: $48,834
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 972.0

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: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 11% Two or more races 9% Black 7% Pacific Islander 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 4% Serbian 2% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Asian/Pacific 1%

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: ▼ -56.24%
• Current HPI: 305.796
• Rent YoY: ▲ 3.79%
• 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

+253.6% since first listed

9 events — show timeline

• 2026-04-30 Listed $389,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-29 Coming Soon $389,000 Heartland MLS as Distributed by MLS Grid
• 2023-09-27 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2023-08-07 Pending — Heartland MLS as Distributed by MLS Grid
• 2023-08-02 Listed $294,900 Heartland MLS as Distributed by MLS Grid
• 2001-07-17 Sold (Public Records) — Public Records
• 2001-07-16 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2001-05-30 Listed $110,000 Heartland MLS as Distributed by MLS Grid
• 1992-06-19 Sold (Public Records) — Public Records

Property tax history

+2.0%/yr

Latest (2015): $1,330 · +2.0% YoY. Source: county tax records.