1846 N 38th St · Kansas City, KS 66102

$149,900

3 bd · 1.0 ba · 1,708 sqft · SingleFamily public records · 7 Days on market

Built 1938 0.34 ac lot

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Why this score? — see what drove the C- 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 +21.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +5.6/10.0
• Rent growth +4.6/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

KCK 1.5 Story with nice hardwood flooring, large living room w/ fireplace, 3 bdrs, 1 ba. Purchase for as little as 3%down. Owner Occupants. "Close by June 30, 2011 and request up to 3.5% of the final sales price for closing cost assistance on HomePath Properties! Special Offers for more details or ask me. Eligibility restrictions apply. " Home needs some TLC! This Property qualifies for Home Path HP Renovation Financing. Property sold in as is condition with NO Sellers Disclosure.

Key facts

• Spacious yard
• Ample cabinet space
• Split-level design

Tags

• SPLIT-LEVEL DESIGN
• MULTIPLE LIVING SPACES
• AMPLE CABINET SPACE
• SPACIOUS YARD
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $213 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.0% 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: crime F, employment D-.
• Kansas City (urban): math 8% / reading 15% proficiency, ranked #169 of 169 in KS (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Chelsea Elem (math 5% / reading 12%, grade F, #674 of 684 statewide, top 99%, 575 students, 84% FRL); Wyandotte High (math 2% / reading 3%, grade F, #325 of 327 statewide, top 99%, 1,832 students, 83% FRL) — zoned schools at 83% FRL track the district average.
• Market conditions: Rents rising fast (+8.4%/yr); 109 active listings in the ZIP; 369 units permitted in Wyandotte County in 2024 (236 in 5+ unit buildings).
• This rent runs 36% of the median local income ($53k/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 $4k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 22y 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 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,900

Questions for the listing agent

1. Built in 1938 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.06% ✓
• Cap rate: 8.00%
• Cash-on-cash: 6.09%
• DSCR: 1.27
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -1.4%
• Equity multiple: 0.94×
• Total profit: $-2,319
• Equity at exit: $22,351

10-year hold

• IRR: 13.0%
• Equity multiple: 2.28×
• Total profit: $53,700
• Equity at exit: $12,961

Cash invested: $41,972 (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 66102

• Home prices YoY: -8.7%
• Rents YoY: 8.4%
• Active inventory: 109
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,586 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$191 /mo · $2,297/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $213

Break-even live

Break-even rent $1,316

Max offer price $149,900

Occupancy floor 82%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-04-24
   status Pending
2. 2026-04-17
   listed $149,900 Active
3. 2021-02-01
   soldstatus
4. 2021-01-27
   soldstatus Closed
5. 2021-01-14
   status Pending
6. 2020-12-17
   price $100,000
7. 2020-12-04
   price $110,000
8. 2020-12-03
   status Active
9. 2020-11-24
   status Pending
10. 2020-11-14
    listed $120,000 Active
11. 2020-10-12
    soldstatus
12. 2011-06-17
    soldstatus 496-char remark

    Show marketing remark (496 chars)

    KCK 1.5 Story with nice hardwood flooring, large living room w/ fireplace, 3 bdrs, 1 ba. Purchase for as little as 3%down. Owner Occupants. "Close by June 30, 2011 and request up to 3.5% of the final sales price for closing cost assistance on HomePath Properties! Special Offers for more details or ask me. Eligibility restrictions apply. " Home needs some TLC! This Property qualifies for Home Path HP Renovation Financing. Property sold in as is condition with NO Sellers Disclosure.

13. 2011-05-09
    listed $28,500 496-char remark

    Show marketing remark (496 chars)

    KCK 1.5 Story with nice hardwood flooring, large living room w/ fireplace, 3 bdrs, 1 ba. Purchase for as little as 3%down. Owner Occupants. "Close by June 30, 2011 and request up to 3.5% of the final sales price for closing cost assistance on HomePath Properties! Special Offers for more details or ask me. Eligibility restrictions apply. " Home needs some TLC! This Property qualifies for Home Path HP Renovation Financing. Property sold in as is condition with NO Sellers Disclosure.

14. 2004-09-09
    soldstatus
15. 2004-09-07
    soldstatus
16. 2004-07-29
    listed $65,000

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

Tax reassessment forecast KS · Resets to sale price

• Current annual tax: $2,297 · $191/mo
• Projected year-2 tax: $2,297 · $191/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 ≥106°F today · 17 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: $19,032
• − Mortgage interest: −$8,397
• − Property taxes: −$2,297
• − Insurance: −$750
• − Repairs & maintenance: −$1,523
• − Management: −$1,523
• − Depreciation: −$4,361
• Taxable income: $183
• Est. tax owed @ 24.0%: −$44
• After-tax cash flow: $2,512/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
• NCES district ID: 2007950
• Math proficiency: 8% ▼ -10.00%
• Reading proficiency: 15% ▼ -4.00%
• Median HH income: $34,774
• Composite: 9.38/100
• National rank: #9856
• State rank: #169 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): 29,443
• Household income: $52,861
• Rent vs Own: 43.2% rent · 56.8% own
• Severe rent burden: 1253.0

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 0.65)
• Race & ethnicity: Hispanic / Latino 53% White 19% Black 17% Two or more races 15% Asian 6% Native American 1%
• Hispanic origin (detail): Mexican 43%
• Common ancestry: Italian 1% Romanian 0%
• Foreign-born: 28% · Canada, Philippines
• Languages at home: 52% English-only · Spanish 42% Other Asian/Pacific 5% Other Indo-European 1%

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: ▼ -36.64%
• Current HPI: 383.6185
• Rent YoY: ▲ 8.36%
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

+130.6% since first listed

16 events — show timeline

• 2026-04-24 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-17 Listed $149,900 Heartland MLS as Distributed by MLS Grid
• 2021-02-01 Sold (Public Records) — Public Records
• 2021-01-27 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2021-01-14 Pending — Heartland MLS as Distributed by MLS Grid
• 2020-12-17 Price Changed $100,000 Heartland MLS as Distributed by MLS Grid
• 2020-12-04 Price Changed $110,000 Heartland MLS as Distributed by MLS Grid
• 2020-12-03 Relisted — Heartland MLS as Distributed by MLS Grid
• 2020-11-24 Pending — Heartland MLS as Distributed by MLS Grid
• 2020-11-14 Listed $120,000 Heartland MLS as Distributed by MLS Grid
• 2020-10-12 Sold (Public Records) — Public Records
• 2011-06-17 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2011-05-09 Listed $28,500 Heartland MLS as Distributed by MLS Grid
• 2004-09-09 Sold (Public Records) — Public Records
• 2004-09-07 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2004-07-29 Listed $65,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+5.3%/yr

Latest (2025): $2,297 · +5.6% YoY. Source: county tax records.