9730 Locust St · Kansas City, MO 64131

$4,250,000

1540 bd · 1176.0 ba · 4,799 sqft · MultiFamily public records · 44 Days on market

Built 1984 2.01 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 +24.4/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• 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 (5+ Unit). Listing-text estimate: 28 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

The Holmesbrook Townhomes is a 28-unit townhome style community located in the Willow Creek neighborhood of Kansas City, MO. The property has seen over $350,000 in capital improvements throughout the duration of ownership (2022-present) and has received renovations in 23 out of the 28 units. Vast majority of the water heaters and HVAC have been replaced within the last four years leaving only five units in classic condition. This leaves investors with a small value add play to renovate the remaining units and bring rent up to market across the board. The property does have a LURA in place, lasting until 2032, but only 10 of the units are affected by it. However, 4/10 are labeled as “Low Income” which 2026 rent cap is higher than current market rent. 6/10 units are labeled as “Very Low Income” which 2026 rent cap is lower than current market rent. The LURA is administered by Phoenix Revitalization Corp under the FDIC Affordable Housing Disposition Program -- it is not LIHTC and has no involvement from MHDC or KHRC. Compliance consists of straightforward annual income verification coordinated directly between Phoenix and the property manager. It is a fraction of the administrative lift associated with traditional affordable housing programs, and Phoenix's staff actively assists owners through the process.

Key facts

• 2.01 acre lot
• Built 1984
• Listed 44 days

What this means for you Summary

Snapshot

• This is a 28 × 55-bed/42.0-bath units multifamily listed at $4.25M.

Deal economics

• At list price, monthly cash flow is $9k ($104k/yr) — positive. Per door: $309/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($44k rent vs $4.25M).
• Recommended offer: $4.12M (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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.
• 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.
• Market conditions: Rents rising (+4.0%/yr); 131 active listings in the ZIP; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $44,073/mo this rent would consume 824% 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 $29k of loan paydown is wiped out by about $128k 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.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($4.12M) is reasonable based on typical stale-listing flexibility.

Recommended offer $4,122,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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: 1.04% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.73%
• DSCR: 1.39
• GRM: 8.0

CMA / ARV

• ARV (median comp): $209,898
• List price: $4,250,000
• Delta: 1924.79%
• Verdict: OVERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-95,374
• Equity at exit: $633,689

10-year hold

• IRR: 8.5%
• Equity multiple: 1.67×
• Total profit: $803,148
• Equity at exit: $367,462

Cash invested: $1,190,000 (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 64131

• Rents YoY: 4.0%
• Active inventory: 131
• Price-to-rent: 225.0×

Monthly cashflow live

• Estimated rent: $44,073 medium
• Mortgage (P&I): −$22,287
• Tax from tax record: −$2,105 /mo · $25,263/yr
• Insurance: −$1,771
• HOA: −$0
• Vacancy / Maint / Mgmt: −$9,255
• Net cashflow: $8,654

Break-even live

Break-even rent $33,118

Max offer price $4,250,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 28× units	55	42	$44,072
Total (28 units)			$44,073

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: $1,062,500
• Closing costs: $127,500
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $4,250,000 Active 44 DOM
2. 2026-06-17
   days on market $4,250,000 Active 43 DOM
3. 2026-06-16
   days on market $4,250,000 Active 42 DOM
4. 2026-06-15
   days on market $4,250,000 Active 41 DOM
5. 2026-06-13
   days on market $4,250,000 Active 39 DOM
6. 2026-06-09
   days on market $4,250,000 Active 35 DOM
7. 2026-06-08
   days on market $4,250,000 Active 34 DOM
8. 2026-06-07
   days on market $4,250,000 Active 33 DOM
9. 2026-06-03
   days on market $4,250,000 Active 29 DOM
10. 2026-06-02
    days on market $4,250,000 Active 28 DOM
11. 2026-06-01
    days on market $4,250,000 Active 27 DOM
12. 2026-05-31
    days on market $4,250,000 Active 26 DOM
13. 2026-05-05
    listed $4,250,000 Active 1348-char remark

    Show marketing remark (1348 chars)

    The Holmesbrook Townhomes is a 28-unit townhome style community located in the Willow Creek neighborhood of Kansas City, MO. The property has seen over $350,000 in capital improvements throughout the duration of ownership (2022-present) and has received renovations in 23 out of the 28 units. Vast majority of the water heaters and HVAC have been replaced within the last four years leaving only five units in classic condition. This leaves investors with a small value add play to renovate the remaining units and bring rent up to market across the board. The property does have a LURA in place, lasting until 2032, but only 10 of the units are affected by it. However, 4/10 are labeled as “Low Income” which 2026 rent cap is higher than current market rent. 6/10 units are labeled as “Very Low Income” which 2026 rent cap is lower than current market rent. The LURA is administered by Phoenix Revitalization Corp under the FDIC Affordable Housing Disposition Program -- it is not LIHTC and has no involvement from MHDC or KHRC. Compliance consists of straightforward annual income verification coordinated directly between Phoenix and the property manager. It is a fraction of the administrative lift associated with traditional affordable housing programs, and Phoenix's staff actively assists owners through the process.

14. 2022-08-16
    soldstatus
15. 2020-01-02
    soldstatus
16. 1997-03-31
    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: $25,263 · $2,105/mo
• Projected year-2 tax: $41,225 · $3,435/mo
• Expected delta: +$15,962/yr (+$1,330/mo · 63.2%)

ⓘ 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: $528,876
• − Mortgage interest: −$238,066
• − Property taxes: −$25,263
• − Insurance: −$21,250
• − Repairs & maintenance: −$42,310
• − Management: −$42,310
• − Depreciation: −$123,636
• Taxable income: $36,041
• Est. tax owed @ 24.0%: −$8,650
• After-tax cash flow: $95,200/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

4 events — show timeline

• 2026-05-05 Listed $4,250,000 Heartland MLS as Distributed by MLS Grid
• 2022-08-16 Sold (Public Records) — Public Records
• 2020-01-02 Sold (Public Records) — Public Records
• 1997-03-31 Sold (Public Records) — Public Records

Property tax history

+1.5%/yr

Latest (2025): $25,263 · -9.4% YoY. Source: county tax records.