9504 Harrison St · Kansas City, MO 64131

$209,900

2 bd · 1.0 ba · 828 sqft · MultiFamily public records · 23 Days on market

Built 1954 4,169 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

This is one of seven identical duplexes in same sub-division. Buildings must sell as a package. Other buildings in same sub-division also available. Excellent income property with excellent cash flow. Priced below appraisals. Instant equity. Owner is motivated. Bring all offers. Each building has two units. Each unit has own address, legal description and tax ID. Ideal for dividing into condos.

Key facts

• Turnkey duplex
• Prime location
• Bus lines access

Tags

• TURNKEY DUPLEX
• PRIME LOCATION
• MAJOR HIGHWAYS ACCESS
• BUS LINES ACCESS
• WELL MAINTAINED DUPLEX
• VACANT UNIT

Property features AI

Finance

• Financial info: Gross income reported as $19,080; Operating expenses include maintenance, insurance, real estate tax, refuse collection, water/sewer, and supplies
• HOA & community: No association fees

Exterior

• Parking: Assigned parking; Off-street parking; Total of 2 parking spaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; 100 amp electric service; Individual heating and air; Individual water heaters; Separate meters; Cable available
• Home design: Residential income property (duplex); Duplex zoning; Two-story building
• Construction: Frame construction; Composition roof
• Exterior features: Private entrance; Porch

Interior

• Kitchen: Refrigerator; Electric range; Gas range; Stainless steel appliances
• Bedrooms: Two 2-bedroom units; Additional unit type listed as 4+ bedrooms
• Bathrooms: Each 2-bedroom unit has 1 bathroom
• Heating & cooling: Natural gas heating; Electric cooling (has air conditioning)
• Interior features: Window coverings throughout; Apply to all units (features consistent across units)
• Laundry & utility: Laundry located inside units

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.0-bath units multifamily listed at $210k.

Deal economics

• At list price, monthly cash flow is $934 ($11k/yr) — positive. Per door: $467/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $207k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.6% 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: crime F.
• Center 58 (urban): math 12% / reading 29% proficiency, ranked #301 of 324 in MO (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Indian Creek Elem. (math 12% / reading 17%, grade F, #993 of 1,115 statewide, top 90%, 274 students, 99% FRL); Center Middle (math 7% / reading 28%, grade F, #350 of 391 statewide, top 90%, 560 students, 66% FRL); Center Sr. High (math 5% / reading 37%, grade F, #468 of 521 statewide, top 90%, 742 students, 62% FRL).
• Market conditions: Rents rising (+4.0%/yr); 133 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $2,785/mo this rent would consume 52% of the median local household income ($64k/yr) (locally 1249% 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 $6k 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 + 4.0% rent growth), your $59k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y 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.
• Current owner paid $49k; list at $210k implies a 331% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $206,751 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.33% ✓
• Cap rate: 11.63%
• Cash-on-cash: 19.07%
• DSCR: 1.85
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.97% rent growth · sell at horizon

5-year hold

• IRR: 11.9%
• Equity multiple: 1.48×
• Total profit: $28,161
• Equity at exit: $31,297

10-year hold

• IRR: 21.6%
• Equity multiple: 2.91×
• Total profit: $112,335
• Equity at exit: $18,148

Cash invested: $58,772 (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 64131

• Rents YoY: 4.0%
• Active inventory: 133
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $2,785 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$78 /mo · $933/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$585
• Net cashflow: $934

Break-even live

Break-even rent $1,602

Max offer price $209,900

Occupancy floor 61%

Sensitivity live

Price	-10% $1,053	-5% $994	+0% $934	+5% $875	+10% $815
Rent	-10% $714	-5% $824	+0% $934	+5% $1,044	+10% $1,154
Rate	-1.0pp $1,040	-0.5pp $988	base $934	+0.5pp $880	+1.0pp $824

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1	$2,786
Total (2 units)			$2,785

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9534 Charlotte St Kansas City, MO	2.0	1.0	828	$795	$0.96	18d	1	0.06mi
9548 Charlotte St Kansas City, MO	2.0	1.0	850	$1,025	$1.21	22d	1	0.09mi
1520 E 97th St Kansas City, MO	1.0–3.0	1.0–2.0	1163	$1,246	$1.07	4d	7	0.51mi
808 E 100 Ter Kansas City, MO	1.0	1.0	576	$1,020	$1.77	26d	1	0.64mi
808 E 100 Ter Kansas City, MO	1.0–2.0	1.0	660	$1,170	$1.77	46d	4	0.64mi
510 E 101st St Kansas City, MO	1.0–2.0	1.0–2.0	918	$1,290	$1.41	6d	5	0.80mi
201 W 99th Ter Kansas City, MO	1.0–2.0	1.0–2.5	1262	$1,962	$1.55	4d	52	0.97mi
8701 Chestnut Cir Kansas City, MO	1.0–2.0	1.0–2.0	925	$1,115	$1.21	4d	15	1.06mi
114 W 103rd St Kansas City, MO	1.0–2.0	1.0–2.0	925	$1,225	$1.32	6d	9	1.15mi
8704 Wornall Rd Unit B Kansas City, MO	2.0	1.0	820	$995	$1.21	18d	1	1.39mi
439 W 87 Pl Kansas City, MO	1.0	1.0	616	$795	$1.29	18d	1	1.40mi
8700 Wornall Rd Kansas City, MO	1.0–3.0	1.0	836	$995	$1.19	17d	3	1.41mi
421 W 87 Pl Kansas City, MO	3.0	1.0	1056	$1,195	$1.13	18d	1	1.43mi

Listing history 11 events

1. 2026-06-08
   status $209,900 Pending 23 DOM
2. 2026-06-07
   days on market $209,900 Active Under Contract 23 DOM
3. 2026-06-03
   days on market $209,900 Active Under Contract 19 DOM
4. 2026-06-02
   days on market $209,900 Active Under Contract 18 DOM
5. 2026-06-01
   days on market $209,900 Active Under Contract 17 DOM
6. 2026-05-31
   days on market $209,900 Active Under Contract 16 DOM
7. 2026-05-15
   listed $209,900 Active
8. 2010-06-03
   soldstatus $48,750
9. 2007-07-11
   soldstatus 397-char remark

   Show marketing remark (397 chars)

   This is one of seven identical duplexes in same sub-division. Buildings must sell as a package. Other buildings in same sub-division also available. Excellent income property with excellent cash flow. Priced below appraisals. Instant equity. Owner is motivated. Bring all offers. Each building has two units. Each unit has own address, legal description and tax ID. Ideal for dividing into condos.

10. 2007-02-22
    listed $89,000 397-char remark

    Show marketing remark (397 chars)

    This is one of seven identical duplexes in same sub-division. Buildings must sell as a package. Other buildings in same sub-division also available. Excellent income property with excellent cash flow. Priced below appraisals. Instant equity. Owner is motivated. Bring all offers. Each building has two units. Each unit has own address, legal description and tax ID. Ideal for dividing into condos.

11. 1996-03-18
    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: $933 · $78/mo
• Projected year-2 tax: $2,036 · $170/mo
• Expected delta: +$1,103/yr (+$92/mo · 118.3%)

ⓘ 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 ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,420
• − Mortgage interest: −$11,758
• − Property taxes: −$933
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,674
• − Management: −$2,674
• − Depreciation: −$6,106
• Taxable income: $8,227
• Est. tax owed @ 24.0%: −$1,974
• After-tax cash flow: $9,236/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: Center 58
• NCES district ID: 2908250
• Math proficiency: 12% ▼ -15.00%
• Reading proficiency: 29% ▼ -6.00%
• Median HH income: $43,544
• Composite: 17.64/100
• National rank: #9031
• State rank: #301 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): 21,942
• Household income: $64,201
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 1249.0

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 0.61)
• Race & ethnicity: White 48% Black 39% Hispanic / Latino 7% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 5% Slovak 1% Lithuanian 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 3% French/Haitian/Cajun 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: ▼ -253.25%
• Current HPI: 340.8202
• Rent YoY: ▲ 3.97%
• 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

+135.8% since first listed

5 events — show timeline

• 2026-05-15 Listed $209,900 Heartland MLS as Distributed by MLS Grid
• 2010-06-03 Sold (Public Records) $48,750 Public Records
• 2007-07-11 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2007-02-22 Listed $89,000 Heartland MLS as Distributed by MLS Grid
• 1996-03-18 Sold (Public Records) — Public Records

Property tax history

+12.4%/yr

Latest (2025): $933 · -11.3% YoY. Source: county tax records.