3235 College Ave · Kansas City, MO 64128

$184,950

2 bd · 2.0 ba · — sqft · Land · 164 Days on market

Built 2024 5,096 sqft lot Est $291k · 36% under ↓ 8% since listing

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +6.3/30.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• 1% rule +1.5/10.0
• Schools +1.5/10.0
• DSCR +0.6/10.0

Listing remarks MLS

Brand new construction duplex (2024) offering two modern units with separate entrances and systems. Designed for low-maintenance ownership and long-term rental income. Unit mix: 1 bed / 1 bath each. Projected market rent: $1,080 per unit. Estimated total monthly income: $2,160. New roof, HVAC, electrical, plumbing, and modern interior finishes throughout. Separate meters Ideal turnkey investment opportunity with no capital expenditure required. Suitable for investor or house-hack buyer seeking new construction with strong rental appeal. Property is currently occupied with rental income from day 1. Seller is offering a portfolio of 7 properties for sale. The portfolio offers a 9.6% cap rate and 18% COCR, producing approximately $37,000 in annual income after debt service. A T12 for the portfolio is attached to this listing. No owner financing. No creative financing. No wholesalers or assignable contracts. End buyers only

Key facts

• 5,096 sq ft lot
• Built 2024
• Listed 164 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $185k.

Deal economics

• At list price, monthly cash flow is $-332 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (26.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (35.3% below list).
• Recommended offer: $120k (35.3% below list) — sets the bar for 1% rule.

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.
• Kansas City 33 (urban): math 12% / reading 24% proficiency, ranked #308 of 324 in MO (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: M. L. King Elementary (math 2% / reading 8%, grade F, #1,072 of 1,115 statewide, top 98%, 665 students, 100% FRL); Central Middle School (math 0% / reading 9%, grade F, #388 of 391 statewide, top 99%, 428 students, 99% FRL); Central High School (math 2% / reading 17%, grade F, #507 of 521 statewide, top 98%, 535 students, 99% FRL) — zoned schools average 99% FRL vs 75% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.7%/yr); 87 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• This rent runs 40% of the median local income ($36k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Jackson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 164 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $356; list at $185k implies a 51852% gain — meaningful room to come down on a strong offer.

Recommended offer $119,752 (35.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 164 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.65% ✗
• Cap rate: 4.14%
• Cash-on-cash: -7.70%
• DSCR: 0.66
• GRM: 12.9

CMA / ARV

• ARV (median comp): $291,230
• List price: $184,950
• Delta: -36.49%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 4.65% rent growth · sell at horizon

5-year hold

• IRR: 19.3%
• Equity multiple: 2.58×
• Total profit: $81,615
• Equity at exit: $166,618

10-year hold

• IRR: 18.1%
• Equity multiple: 6.05×
• Total profit: $261,399
• Equity at exit: $359,317

Cash invested: $51,786 (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 64128

• Home prices YoY: 21.6%
• Rents YoY: 4.7%
• Active inventory: 87
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $1,198 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,774/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $-332

Break-even live

Break-even rent $1,618

Max offer price $136,894

Occupancy floor —

Sensitivity live

Price	-10% $-204	-5% $-268	+0% $-332	+5% $-396	+10% $-460
Rent	-10% $-427	-5% $-379	+0% $-332	+5% $-285	+10% $-238
Rate	-1.0pp $-239	-0.5pp $-285	base $-332	+0.5pp $-380	+1.0pp $-429

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: $46,238
• Closing costs: $5,548
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3310 College Ave Kansas City, MO	3.0	1.0	874	$995	$1.14	45d	1	0.04mi
3335 Indiana Ave Unit B Kansas City, MO	3.0	1.0	—	$1,025	—	25d	1	0.11mi
3409 Indiana Ave Unit 3 Kansas City, MO	2.0	1.0	—	$1,099	—	25d	1	0.17mi
3310 Askew Ave Kansas City, MO	3.0	2.0	1484	$1,500	$1.01	0d	1	0.17mi
3304 Agnes Ave Unit Downstairs Kansas City, MO	3.0	1.0	1150	$1,095	$0.95	45d	1	0.20mi
3305 Askew Ave Kansas City, MO	3.0	1.5	1428	$1,450	$1.02	25d	1	0.20mi
3330 Agnes Ave Kansas City, MO	3.0	1.0	1000	$1,410	$1.41	45d	1	0.22mi
3346 Agnes Ave Kansas City, MO	3.0	1.0	1400	$1,200	$0.86	9d	1	0.23mi
3514 Bellefontaine Ave Kansas City, MO	3.0	1.0	—	$1,350	—	25d	1	0.32mi
3012 College Ave Kansas City, MO	1.0	1.0	—	$750	—	25d	1	0.33mi
3524 Bellefontaine Ave Kansas City, MO	3.0	1.0	1228	$1,350	$1.10	45d	1	0.35mi
3434 Chestnut Ave Kansas City, MO	2.0	1.0	1512	$1,100	$0.73	12d	1	0.39mi
3220 E 30th St Unit 1A Kansas City, MO	2.0	1.0	1214	$950	$0.78	45d	1	0.39mi
3525 Monroe Ave Kansas City, MO	3.0	2.0	1569	$1,500	$0.96	45d	1	0.41mi
3015 Montgall Ave Unit 1 Kansas City, MO	1.0	1.0	—	$695	—	25d	1	0.48mi
3332 Norton Ave Kansas City, MO	3.0	1.0	1272	$1,350	$1.06	45d	1	0.49mi
3630 Agnes Ave Kansas City, MO	3.0	2.0	1448	$1,500	$1.04	12d	1	0.51mi
2908 E 29th St Kansas City, MO	2.0	1.5	—	$1,000	—	25d	1	0.51mi
3811 E 36th St Kansas City, MO	3.0	1.0	2590	$1,350	$0.52	45d	1	0.52mi
2637 E 29th St Unit 3 Kansas City, MO	2.0	1.0	954	$1,050	$1.10	45d	1	0.55mi
2929 Mersington Ave Kansas City, MO	3.0	1.5	—	$1,195	—	14d	1	0.55mi
3816 E 37th St Kansas City, MO	3.0	1.0	—	$1,402	—	14d	1	0.60mi
3233 Park Ave Unit 1 Kansas City, MO	2.0	1.0	950	$1,075	$1.13	45d	1	0.60mi
3233 Park Ave Unit 2 Kansas City, MO	2.0	1.0	950	$1,000	$1.05	25d	1	0.60mi
3320 Spruce Ave Kansas City, MO	2.0	1.0	—	$1,095	—	45d	1	0.60mi
3434 Olive St Kansas City, MO	3.0	2.0	2020	$1,445	$0.72	45d	1	0.61mi
3437 Jackson Ave Kansas City, MO	2.0	1.0	700	$1,150	$1.64	18d	1	0.61mi
3739 Bales Ave Kansas City, MO	3.0	2.0	1400	$1,575	$1.12	25d	1	0.62mi
2846 Myrtle Ave Kansas City, MO	3.0	2.0	1705	$1,350	$0.79	18d	1	0.65mi
3818 Indiana Ave Kansas City, MO	3.0	1.5	1223	$1,147	$0.94	45d	1	0.68mi
3547 Jackson Ave Kansas City, MO	3.0	1.0	1104	$1,255	$1.14	0d	1	0.68mi
3820 Indiana Ave Kansas City, MO	3.0	1.0	—	$1,000	—	0d	1	0.68mi
3417 Brooklyn Ave Kansas City, MO	3.0	1.5	945	$1,595	$1.69	0d	1	0.69mi
3710 Wabash Ave Unit 2S Kansas City, MO	2.0	1.0	875	$850	$0.97	25d	1	0.70mi
2120 Linwood Blvd Kansas City, MO	3.0	1.0	1326	$1,400	$1.06	45d	1	0.72mi
3604 Park Ave Kansas City, MO	3.0	1.5	1320	$1,550	$1.17	0d	1	0.74mi
3840 Bellefontaine Ave Kansas City, MO	3.0	1.0	1500	$1,500	$1.00	18d	1	0.74mi
2404 E 29th St Apt 2W Kansas City, MO	2.0	1.0	850	$900	$1.06	0d	1	0.74mi
2701 Benton Blvd Unit 2703-2 Kansas City, MO	2.0	1.0	800	$1,200	$1.50	4d	1	0.77mi
2701 Benton Blvd Unit 2705-3 Kansas City, MO	2.0	1.0	800	$1,200	$1.50	9d	1	0.77mi

Listing history 21 events

1. 2026-06-21
   days on market $184,950 Active 164 DOM
2. 2026-06-18
   days on market $184,950 Active 161 DOM
3. 2026-06-17
   days on market $184,950 Active 160 DOM
4. 2026-06-16
   days on market $184,950 Active 159 DOM
5. 2026-06-15
   days on market $184,950 Active 158 DOM
6. 2026-06-13
   days on market $184,950 Active 156 DOM
7. 2026-06-09
   days on market $184,950 Active 152 DOM
8. 2026-06-08
   days on market $184,950 Active 151 DOM
9. 2026-06-07
   days on market $184,950 Active 150 DOM
10. 2026-06-05
    days on market $184,950 Active 147 DOM
11. 2026-06-03
    days on market $184,950 Active 146 DOM
12. 2026-06-02
    days on market $184,950 Active 145 DOM
13. 2026-06-01
    days on market $184,950 Active 144 DOM
14. 2026-05-31
    days on market $184,950 Active 143 DOM
15. 2026-05-12
    status Active 938-char remark

    Show marketing remark (938 chars)

    Brand new construction duplex (2024) offering two modern units with separate entrances and systems. Designed for low-maintenance ownership and long-term rental income. Unit mix: 1 bed / 1 bath each. Projected market rent: $1,080 per unit. Estimated total monthly income: $2,160. New roof, HVAC, electrical, plumbing, and modern interior finishes throughout. Separate meters Ideal turnkey investment opportunity with no capital expenditure required. Suitable for investor or house-hack buyer seeking new construction with strong rental appeal. Property is currently occupied with rental income from day 1. Seller is offering a portfolio of 7 properties for sale. The portfolio offers a 9.6% cap rate and 18% COCR, producing approximately $37,000 in annual income after debt service. A T12 for the portfolio is attached to this listing. No owner financing. No creative financing. No wholesalers or assignable contracts. End buyers only

16. 2026-04-15
    historical Active Under Contract 938-char remark

    Show marketing remark (938 chars)

    Brand new construction duplex (2024) offering two modern units with separate entrances and systems. Designed for low-maintenance ownership and long-term rental income. Unit mix: 1 bed / 1 bath each. Projected market rent: $1,080 per unit. Estimated total monthly income: $2,160. New roof, HVAC, electrical, plumbing, and modern interior finishes throughout. Separate meters Ideal turnkey investment opportunity with no capital expenditure required. Suitable for investor or house-hack buyer seeking new construction with strong rental appeal. Property is currently occupied with rental income from day 1. Seller is offering a portfolio of 7 properties for sale. The portfolio offers a 9.6% cap rate and 18% COCR, producing approximately $37,000 in annual income after debt service. A T12 for the portfolio is attached to this listing. No owner financing. No creative financing. No wholesalers or assignable contracts. End buyers only

17. 2026-02-26
    price $184,950 938-char remark

    Show marketing remark (938 chars)

    Brand new construction duplex (2024) offering two modern units with separate entrances and systems. Designed for low-maintenance ownership and long-term rental income. Unit mix: 1 bed / 1 bath each. Projected market rent: $1,080 per unit. Estimated total monthly income: $2,160. New roof, HVAC, electrical, plumbing, and modern interior finishes throughout. Separate meters Ideal turnkey investment opportunity with no capital expenditure required. Suitable for investor or house-hack buyer seeking new construction with strong rental appeal. Property is currently occupied with rental income from day 1. Seller is offering a portfolio of 7 properties for sale. The portfolio offers a 9.6% cap rate and 18% COCR, producing approximately $37,000 in annual income after debt service. A T12 for the portfolio is attached to this listing. No owner financing. No creative financing. No wholesalers or assignable contracts. End buyers only

18. 2026-02-23
    price $198,950 938-char remark

    Show marketing remark (938 chars)

    Brand new construction duplex (2024) offering two modern units with separate entrances and systems. Designed for low-maintenance ownership and long-term rental income. Unit mix: 1 bed / 1 bath each. Projected market rent: $1,080 per unit. Estimated total monthly income: $2,160. New roof, HVAC, electrical, plumbing, and modern interior finishes throughout. Separate meters Ideal turnkey investment opportunity with no capital expenditure required. Suitable for investor or house-hack buyer seeking new construction with strong rental appeal. Property is currently occupied with rental income from day 1. Seller is offering a portfolio of 7 properties for sale. The portfolio offers a 9.6% cap rate and 18% COCR, producing approximately $37,000 in annual income after debt service. A T12 for the portfolio is attached to this listing. No owner financing. No creative financing. No wholesalers or assignable contracts. End buyers only

19. 2026-01-08
    listed $199,950 Active 938-char remark

    Show marketing remark (938 chars)

    Brand new construction duplex (2024) offering two modern units with separate entrances and systems. Designed for low-maintenance ownership and long-term rental income. Unit mix: 1 bed / 1 bath each. Projected market rent: $1,080 per unit. Estimated total monthly income: $2,160. New roof, HVAC, electrical, plumbing, and modern interior finishes throughout. Separate meters Ideal turnkey investment opportunity with no capital expenditure required. Suitable for investor or house-hack buyer seeking new construction with strong rental appeal. Property is currently occupied with rental income from day 1. Seller is offering a portfolio of 7 properties for sale. The portfolio offers a 9.6% cap rate and 18% COCR, producing approximately $37,000 in annual income after debt service. A T12 for the portfolio is attached to this listing. No owner financing. No creative financing. No wholesalers or assignable contracts. End buyers only

20. 2011-01-26
    soldstatus $356
21. 1983-09-01
    soldstatus

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

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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,370
• − Mortgage interest: −$10,360
• − Property taxes: −$2,774
• − Insurance: −$925
• − Repairs & maintenance: −$1,150
• − Management: −$1,150
• − Depreciation: −$5,380
• Taxable loss: −$7,368
• Est. tax savings @ 24.0%: +$1,768
• After-tax cash flow: $-2,217/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 33
• NCES district ID: 2916400
• Math proficiency: 12% ▼ -8.00%
• Reading proficiency: 24% ▬ 0.00%
• Median HH income: $35,227
• Composite: 14.8/100
• National rank: #9387
• State rank: #308 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): 11,912
• Household income: $36,088
• Rent vs Own: 52.5% rent · 47.5% own
• Severe rent burden: 946.0

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 Black (79%)
• Race & ethnicity: Black 79% Hispanic / Latino 9% White 8% Two or more races 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Swedish 1% Hispanic 1%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 7% French/Haitian/Cajun 2%

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: ▲ 73.41%
• Current HPI: 412.6862
• Rent YoY: ▲ 4.65%
• 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

-7.5% since first listed

7 events — show timeline

• 2026-05-12 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-04-15 Contingent — Heartland MLS as Distributed by MLS Grid
• 2026-02-26 Price Changed $184,950 Heartland MLS as Distributed by MLS Grid
• 2026-02-23 Price Changed $198,950 Heartland MLS as Distributed by MLS Grid
• 2026-01-08 Listed $199,950 Heartland MLS as Distributed by MLS Grid
• 2011-01-26 Sold (Public Records) $356 Public Records
• 1983-09-01 Sold (Public Records) — Public Records

Property tax history

+6.0%/yr

Latest (2025): $63 · +6.0% YoY. Source: county tax records.