2618 E 28th St · Kansas City, MO 64128

$327,000

7 bd · 2.0 ba · 3,606 sqft · MultiFamily public records · 33 Days on market

Built 1909 8,276 sqft lot $91/sqft · 11% below area Est $283k · 15% over

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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 +26.4/30.0
• Appreciation +10.0/10.0
• DSCR +9.0/10.0
• 1% rule +5.9/10.0
• Livability +3.9/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.6/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Investors! Rented for $715 per month, Section 8. Purchase alone or in a package of up to 3 other houses. 2324 Brooklyn Avenue, 3525 Virginia Avenue & 5606 Highland Avenue. MUST have at least 48 hours notice to show.

Key facts

• 8,276 sq ft lot
• 2 garage spots
• Built 1909

Property features AI

Finance

• HOA & community: No association fees (association mentions building maintenance)

Exterior

• Parking: Detached garage; 2 garage spaces; Shared driveway
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Attached property; 3 stories
• Construction: Brick/mortar construction; Composition roof; Basement present; Home is over 100 years old
• Exterior features: City lot

Interior

• Kitchen: Kitchen with island
• Bedrooms: 6 bedrooms total; Bedrooms located on second and third floors (multiple bedrooms on second floor; at least one bedroom on third floor)
• Flooring: Carpet in many rooms; Ceramic tile; Linoleum
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Natural gas heating; Electric cooling
• Interior features: Formal dining area; Entry; Kitchen island; Ceramic tile in some rooms; Linoleum in some rooms; Carpet in living areas and multiple bedrooms; Basement with stone/rock finish; One fireplace in the great room
• Laundry & utility: Laundry area in basement

What this means for you Summary

Snapshot

• This is a 7-bed/2.0-bath multifamily listed at $327k.

Deal economics

• At list price, monthly cash flow is $860 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $327k).
• Recommended offer: $317k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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.
• 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.
• Market conditions: Rents rising fast (+4.7%/yr); 86 active listings in the ZIP; lower-income renter base — watch delinquency; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $3,558/mo this rent would consume 118% of the median local household income ($36k/yr) (locally 946% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $35k of equity ($2k loan paydown + $33k appreciation (10.0% local appreciation)).
• Jackson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 4.7% rent growth), your $92k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($317k) is reasonable based on typical stale-listing flexibility.
• 7 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.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $317,190 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.09% ✓
• Cap rate: 9.45%
• Cash-on-cash: 11.27%
• DSCR: 1.50
• GRM: 7.7

CMA / ARV

• ARV (median comp): $283,310
• List price: $327,000
• Delta: 15.42%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 33.2%
• Equity multiple: 3.61×
• Total profit: $238,711
• Equity at exit: $294,588

10-year hold

• IRR: 29.1%
• Equity multiple: 8.35×
• Total profit: $672,668
• Equity at exit: $635,289

Cash invested: $91,560 (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: 86
• Price-to-rent: 23.0×

Monthly cashflow live

• Estimated rent: $3,558 high
• Mortgage (P&I): −$1,715
• Tax from tax record: −$100 /mo · $1,201/yr
• Insurance: −$136
• HOA: −$0
• Vacancy / Maint / Mgmt: −$747
• Net cashflow: $860

Break-even live

Break-even rent $2,470

Max offer price $327,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,558
Total (3 units)			$3,558

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: $81,750
• Closing costs: $9,810
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-03
   days on market $327,000 Active 33 DOM
2. 2026-06-02
   days on market $327,000 Active 32 DOM
3. 2026-06-01
   days on market $327,000 Active 31 DOM
4. 2026-05-31
   days on market $327,000 Active 30 DOM
5. 2026-05-01
   listed $327,000 Active 185-char remark
6. 2026-02-22
   historical $792
7. 2026-02-20
   price $792
8. 2026-02-19
   price $741
9. 2026-02-14
   price $792
10. 2026-02-13
    listed $784
11. 2025-09-05
    soldstatus
12. 2025-09-05
    soldstatus
13. 2016-06-30
    soldstatus
14. 2016-06-24
    soldstatus Sold 221-char remark

    Show marketing remark (221 chars)

    Investors! Rented for $715 per month, Section 8. Purchase alone or in a package of up to 3 other houses. 2324 Brooklyn Avenue, 3525 Virginia Avenue & 5606 Highland Avenue. MUST have at least 48 hours notice to show.

15. 2016-04-02
    status Pending 221-char remark

    Show marketing remark (221 chars)

    Investors! Rented for $715 per month, Section 8. Purchase alone or in a package of up to 3 other houses. 2324 Brooklyn Avenue, 3525 Virginia Avenue & 5606 Highland Avenue. MUST have at least 48 hours notice to show.

16. 2016-02-05
    listed $99,000 Active 221-char remark

    Show marketing remark (221 chars)

    Investors! Rented for $715 per month, Section 8. Purchase alone or in a package of up to 3 other houses. 2324 Brooklyn Avenue, 3525 Virginia Avenue & 5606 Highland Avenue. MUST have at least 48 hours notice to show.

17. 2016-02-02
    historical
18. 2016-01-16
    listed $99,000 Active
19. 2012-04-04
    historical
20. 2011-10-04
    listed $119,900
21. 2010-09-16
    soldstatus
22. 2008-12-09
    listed $19,900
23. 2007-10-01
    listed $110,000
24. 2004-05-27
    soldstatus
25. 2003-02-10
    soldstatus
26. 1995-08-23
    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: $1,201 · $100/mo
• Projected year-2 tax: $3,172 · $264/mo
• Expected delta: +$1,971/yr (+$164/mo · 164.0%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,696
• − Mortgage interest: −$18,317
• − Property taxes: −$1,201
• − Insurance: −$1,635
• − Repairs & maintenance: −$3,416
• − Management: −$3,416
• − Depreciation: −$9,513
• Taxable income: $5,198
• Est. tax owed @ 24.0%: −$1,248
• After-tax cash flow: $9,068/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

+197.3% since first listed

23 events — show timeline

• 2026-06-04 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2026-05-01 Listed $327,000 Heartland MLS as Distributed by MLS Grid
• 2026-02-22 Rental Removed $792 ZUMPER1
• 2026-02-20 Price Changed $792 ZUMPER1
• 2026-02-19 Price Changed $741 ZUMPER1
• 2026-02-14 Price Changed $792 ZUMPER1
• 2026-02-13 Listed for Rent $784 ZUMPER1
• 2025-09-05 Sold (Public Records) — Public Records
• 2025-09-05 Sold (Public Records) — Public Records
• 2016-06-30 Sold (Public Records) — Public Records
• 2016-06-24 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2016-04-02 Pending — Heartland MLS as Distributed by MLS Grid
• 2016-02-05 Listed $99,000 Heartland MLS as Distributed by MLS Grid
• 2016-02-02 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2016-01-16 Listed $99,000 Heartland MLS as Distributed by MLS Grid
• 2012-04-04 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2011-10-04 Listed $119,900 Heartland MLS as Distributed by MLS Grid
• 2010-09-16 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2008-12-09 Listed $19,900 Heartland MLS as Distributed by MLS Grid
• 2007-10-01 Listed $110,000 Heartland MLS as Distributed by MLS Grid
• 2004-05-27 Sold (Public Records) — Public Records
• 2003-02-10 Sold (Public Records) — Public Records
• 1995-08-23 Sold (Public Records) — Public Records

Property tax history

+6.0%/yr

Latest (2025): $1,201 · -18.7% YoY. Source: county tax records.