4843 NE Tullis Ave · Kansas City, MO 64119

$175,000

3 bd · 1.0 ba · 874 sqft · SingleFamily public records · 19 Days on market

Built 1965 7,840 sqft lot $200/sqft · 14% below area Est $203k · 14% under

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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 +22.1/30.0
• ARV discount +13.7/15.0
• DSCR +7.1/10.0
• 1% rule +5.5/10.0
• 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

This charming 3-bedroom, 1-bathroom home in Kansas City offers a functional layout featuring approximately 874 square feet of living area. The property includes an attached 1-car garage and a full basement providing ample storage or hobby space. Outdoor enthusiasts will appreciate the fenced-in backyard, with a private deck and a storage shed. Situated in a convenient location, this well-maintained residence is ready for its next owner to move in and enjoy.

Key facts

• Private deck
• Storage shed
• Full basement

Tags

• FENCED-IN BACKYARD
• PRIVATE DECK
• STORAGE SHED
• FULL BASEMENT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% 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; 2 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $5k 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 $49k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y 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.

Recommended offer $172,375 (1.5% below list)

Questions for the listing agent

1. Built in 1965 — 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: 1.05% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.93%
• DSCR: 1.31
• GRM: 7.9

CMA / ARV

• ARV (median comp): $202,989
• List price: $175,000
• Delta: -13.79%
• 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
8032 NE San Rafael Dr	0.10mi	3/1.0	874 (0%)	5mo	$210,000	$240	91
7928 NE San Rafael Dr	0.16mi	3/1.0	872 (-0%)	6mo	$190,000	$218	87
4831 N Manchester Ave	0.28mi	3/1.0	874 (0%)	1mo	$180,000	$206	86
8017 NE 50th St	0.16mi	3/1.0	874 (0%)	12mo	$165,000	$189	83
4837 N Wallace Ave	0.11mi	3/1.5	910 (+4%)	15mo	$209,900	$231	74
4820 N Manchester Ave	0.32mi	3/1.0	932 (+7%)	3mo	$199,000	$214	72
5128 N Richmond Ave	0.47mi	3/1.0	833 (-5%)	3mo	$199,000	$239	68
5174 N Corrington Ave	0.63mi	3/1.0	840 (-4%)	8mo	$165,000	$196	57
7821 NE 51st St	0.24mi	2/1.5 (-1)	748 (-14%)	2mo	$145,000	$194	56
5106 N Sycamore Dr	0.34mi	3/1.0	960 (+10%)	14mo	$175,000	$182	56
5142 N Corrington Ave	0.70mi	3/1.0	816 (-7%)	13mo	$190,000	$233	45
7937 NE 55th St	0.67mi	3/1.0	960 (+10%)	13mo	$220,000	$229	41

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: -2.3%
• Equity multiple: 0.91×
• Total profit: $-4,421
• Equity at exit: $26,093

10-year hold

• IRR: 10.4%
• Equity multiple: 1.92×
• Total profit: $45,245
• Equity at exit: $15,131

Cash invested: $49,000 (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: 7.9×

Monthly cashflow live

• Estimated rent: $1,846 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$185 /mo · $2,219/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $283

Break-even live

Break-even rent $1,488

Max offer price $175,000

Occupancy floor 80%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8030 NE 50th St Kansas City, MO	3.0	1.5	1047	$1,595	$1.52	3d	1	0.21mi
5128 N Palmer Ave Kansas City, MO	3.0	2.0	905	$1,646	$1.82	44d	1	0.45mi

Listing history 14 events

1. 2026-05-11
   status Pending 461-char remark

   Show marketing remark (461 chars)

   This charming 3-bedroom, 1-bathroom home in Kansas City offers a functional layout featuring approximately 874 square feet of living area. The property includes an attached 1-car garage and a full basement providing ample storage or hobby space. Outdoor enthusiasts will appreciate the fenced-in backyard, with a private deck and a storage shed. Situated in a convenient location, this well-maintained residence is ready for its next owner to move in and enjoy.

2. 2026-04-22
   listed $175,000 Active 461-char remark

   Show marketing remark (461 chars)

   This charming 3-bedroom, 1-bathroom home in Kansas City offers a functional layout featuring approximately 874 square feet of living area. The property includes an attached 1-car garage and a full basement providing ample storage or hobby space. Outdoor enthusiasts will appreciate the fenced-in backyard, with a private deck and a storage shed. Situated in a convenient location, this well-maintained residence is ready for its next owner to move in and enjoy.

3. 2017-10-20
   soldstatus Sold 338-char remark

   Show marketing remark (338 chars)

   * * * Motivated Seller, bring us an offer * * * Newer A/C, windows, heater, water heater, flooring (partial). Home fully re-insulated in 2010. Tons of natural light. Garage +4 car driveway. Low maintenance exterior. Minutes from 435. Perfect for a small family or starter home. Already passed FHA appraisal with no repairs necessary!

4. 2017-10-20
   soldstatus

   Show marketing remark (338 chars)

   * * * Motivated Seller, bring us an offer * * * Newer A/C, windows, heater, water heater, flooring (partial). Home fully re-insulated in 2010. Tons of natural light. Garage +4 car driveway. Low maintenance exterior. Minutes from 435. Perfect for a small family or starter home. Already passed FHA appraisal with no repairs necessary!

5. 2017-10-10
   status Pending 338-char remark

   Show marketing remark (338 chars)

   * * * Motivated Seller, bring us an offer * * * Newer A/C, windows, heater, water heater, flooring (partial). Home fully re-insulated in 2010. Tons of natural light. Garage +4 car driveway. Low maintenance exterior. Minutes from 435. Perfect for a small family or starter home. Already passed FHA appraisal with no repairs necessary!

6. 2017-10-04
   price $110,000 338-char remark

   Show marketing remark (338 chars)

   * * * Motivated Seller, bring us an offer * * * Newer A/C, windows, heater, water heater, flooring (partial). Home fully re-insulated in 2010. Tons of natural light. Garage +4 car driveway. Low maintenance exterior. Minutes from 435. Perfect for a small family or starter home. Already passed FHA appraisal with no repairs necessary!

7. 2017-09-25
   price $112,000 338-char remark

   Show marketing remark (338 chars)

   * * * Motivated Seller, bring us an offer * * * Newer A/C, windows, heater, water heater, flooring (partial). Home fully re-insulated in 2010. Tons of natural light. Garage +4 car driveway. Low maintenance exterior. Minutes from 435. Perfect for a small family or starter home. Already passed FHA appraisal with no repairs necessary!

8. 2017-09-20
   status Active 338-char remark

   Show marketing remark (338 chars)

   * * * Motivated Seller, bring us an offer * * * Newer A/C, windows, heater, water heater, flooring (partial). Home fully re-insulated in 2010. Tons of natural light. Garage +4 car driveway. Low maintenance exterior. Minutes from 435. Perfect for a small family or starter home. Already passed FHA appraisal with no repairs necessary!

9. 2017-08-12
   status Pending 338-char remark

   Show marketing remark (338 chars)

   * * * Motivated Seller, bring us an offer * * * Newer A/C, windows, heater, water heater, flooring (partial). Home fully re-insulated in 2010. Tons of natural light. Garage +4 car driveway. Low maintenance exterior. Minutes from 435. Perfect for a small family or starter home. Already passed FHA appraisal with no repairs necessary!

10. 2017-08-05
    price $115,000 338-char remark

    Show marketing remark (338 chars)

    * * * Motivated Seller, bring us an offer * * * Newer A/C, windows, heater, water heater, flooring (partial). Home fully re-insulated in 2010. Tons of natural light. Garage +4 car driveway. Low maintenance exterior. Minutes from 435. Perfect for a small family or starter home. Already passed FHA appraisal with no repairs necessary!

11. 2017-08-01
    price $117,000 338-char remark

    Show marketing remark (338 chars)

    * * * Motivated Seller, bring us an offer * * * Newer A/C, windows, heater, water heater, flooring (partial). Home fully re-insulated in 2010. Tons of natural light. Garage +4 car driveway. Low maintenance exterior. Minutes from 435. Perfect for a small family or starter home. Already passed FHA appraisal with no repairs necessary!

12. 2017-07-21
    listed $119,500 Active 338-char remark

    Show marketing remark (338 chars)

    * * * Motivated Seller, bring us an offer * * * Newer A/C, windows, heater, water heater, flooring (partial). Home fully re-insulated in 2010. Tons of natural light. Garage +4 car driveway. Low maintenance exterior. Minutes from 435. Perfect for a small family or starter home. Already passed FHA appraisal with no repairs necessary!

13. 2004-01-06
    soldstatus
14. 2003-10-13
    listed $97,000

ⓘ 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: $2,219 · $185/mo
• Projected year-2 tax: $2,219 · $185/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 ≥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: $22,152
• − Mortgage interest: −$9,803
• − Property taxes: −$2,219
• − Insurance: −$875
• − Repairs & maintenance: −$1,772
• − Management: −$1,772
• − Depreciation: −$5,091
• Taxable income: $620
• Est. tax owed @ 24.0%: −$149
• After-tax cash flow: $3,245/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

+80.4% since first listed

14 events — show timeline

• 2026-05-11 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-22 Listed $175,000 Heartland MLS as Distributed by MLS Grid
• 2017-10-20 Sold (Public Records) — Public Records
• 2017-10-20 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2017-10-10 Pending — Heartland MLS as Distributed by MLS Grid
• 2017-10-04 Price Changed $110,000 Heartland MLS as Distributed by MLS Grid
• 2017-09-25 Price Changed $112,000 Heartland MLS as Distributed by MLS Grid
• 2017-09-20 Relisted — Heartland MLS as Distributed by MLS Grid
• 2017-08-12 Pending — Heartland MLS as Distributed by MLS Grid
• 2017-08-05 Price Changed $115,000 Heartland MLS as Distributed by MLS Grid
• 2017-08-01 Price Changed $117,000 Heartland MLS as Distributed by MLS Grid
• 2017-07-21 Listed $119,500 Heartland MLS as Distributed by MLS Grid
• 2004-01-06 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2003-10-13 Listed $97,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+5.4%/yr

Latest (2025): $2,219 · +12.4% YoY. Source: county tax records.