4232 Holly St · Kansas City, MO 64111

$399,900

6 bd · 2.0 ba · 2,868 sqft · MultiFamily public records · 53 Days on market

Built 1930 6,490 sqft lot Est $473k · 15% under

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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 +14.4/15.0
• Cash flow +12.1/30.0
• Livability +3.9/5.0
• DSCR +3.6/10.0
• Rent growth +3.4/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

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

Two well kept all brick duplexes. Four units total, all two bedroom one bath units with a bonus room. Generous room sizes, thermal windows, Forced air heat and central air conditioning. Units are metered separately for electricity and gas but water is central for both buildings and paid by the owner. 36 building has new baths with W/ D in them. 32 building has common laundry supplied by the owner in the basement. One unit in each building has a new kitchen. All units have a carport. Close to Westport, the Plaza, KU Med, 39th Street shopping and much more. A great block and a solid location!

Key facts

• 6,490 sq ft lot
• Built 1930
• Listed 52 days

Property features AI

Finance

• Other: Zoned R-5; Two total units; Current occupancy under 80%; Road responsibility: public maintenance
• Financial info: Gross income reported at $30,600; Operating expenses may include maintenance, insurance, real estate tax, and water/sewer
• HOA & community: Building exterior, HVAC, lawn, roof repair/replacement, and snow removal maintenance handled

Exterior

• Parking: Carport
• Utilities: Public water; Public sewer; Cable available; Fiber available; High-speed internet available; Metro service available
• Home design: Duplex residential income property; 2 stories
• Construction: Brick construction; Other roof type; Built approximately 76-100 years ago
• Exterior features: Public-maintained street; Flood plain status unknown

Interior

• Kitchen: Dishwasher; Range/oven; Refrigerator
• Bedrooms: Two-bedroom units
• Bathrooms: One bathroom per unit
• Heating & cooling: Forced air heating; Electric cooling
• Interior features: Individual storage for units; Applies to all units
• Laundry & utility: Laundry located in basement; Separate meters; Individual water heaters

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $-87 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $385k (3.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $309k (22.8% below list).
• Recommended offer: $309k (22.8% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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.
• 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: Ac Prep Elementary (math 12% / reading 27%, grade F, #941 of 1,115 statewide, top 86%, 341 students, 99% FRL); Central Middle School (math 0% / reading 9%, grade F, #388 of 391 statewide, top 99%, 428 students, 99% FRL); Southeast High School (math 2% / reading 12%, grade F, #512 of 521 statewide, top 99%, 487 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 (+3.4%/yr); 168 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $3,088/mo this rent would consume 60% of the median local household income ($62k/yr) (locally 1606% 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 $3k of loan paydown is wiped out by about $12k 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 53 days — a 3% lower offer ($388k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 24y ago; this cycle's ask has dropped $50k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $308,800 (22.8% 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 53 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1930 — 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. 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 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: 0.77% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.93%
• DSCR: 0.96
• GRM: 10.8

CMA / ARV

• ARV (median comp): $472,837
• List price: $399,900
• Delta: -15.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.42% rent growth · sell at horizon

5-year hold

• IRR: -17.4%
• Equity multiple: 0.38×
• Total profit: $-69,131
• Equity at exit: $59,626

10-year hold

• IRR: -8.8%
• Equity multiple: 0.44×
• Total profit: $-62,312
• Equity at exit: $34,576

Cash invested: $111,972 (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 64111

• Rents YoY: 3.4%
• Active inventory: 168
• Price-to-rent: 21.6×

Monthly cashflow live

• Estimated rent: $3,088 high
• Mortgage (P&I): −$2,097
• Tax from tax record: −$263 /mo · $3,153/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$648
• Net cashflow: $-87

Break-even live

Break-even rent $3,198

Max offer price $384,531

Occupancy floor 98%

Sensitivity live

Price	-10% $139	-5% $26	+0% $-87	+5% $-200	+10% $-313
Rent	-10% $-331	-5% $-209	+0% $-87	+5% $35	+10% $157
Rate	-1.0pp $114	-0.5pp $15	base $-87	+0.5pp $-191	+1.0pp $-296

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,088
Total (2 units)			$3,088

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3517 Jefferson St Kansas City, MO	5.0	3.5	3200	$3,600	$1.12	18d	1	0.99mi
3327 Wyandotte St Kansas City, MO	5.0	2.5	2902	$2,495	$0.86	45d	1	1.31mi

Listing history 30 events

1. 2026-06-21
   days on market $399,900 Active 53 DOM
2. 2026-06-18
   days on market $399,900 Active 50 DOM
3. 2026-06-17
   days on market $399,900 Active 49 DOM
4. 2026-06-16
   days on market $399,900 Active 48 DOM
5. 2026-06-15
   days on market $399,900 Active 47 DOM
6. 2026-06-13
   days on market $399,900 Active 45 DOM
7. 2026-06-09
   days on market $399,900 Active 41 DOM
8. 2026-06-08
   days on market $399,900 Active 40 DOM
9. 2026-06-07
   days on market $399,900 Active 39 DOM
10. 2026-06-05
    days on market $399,900 Active 36 DOM
11. 2026-06-03
    days on market $399,900 Active 35 DOM
12. 2026-06-02
    days on market $399,900 Active 34 DOM
13. 2026-06-02
    remarks 639-char remark
14. 2026-06-02
    price $399,900 Active 33 DOM
15. 2026-06-01
    days on market $450,000 Active 33 DOM
16. 2026-05-31
    days on market $450,000 Active 32 DOM
17. 2026-04-30
    listed $450,000 Active 599-char remark
18. 2026-04-23
    historical $450,000 599-char remark
19. 2021-08-24
    historical 597-char remark

    Show marketing remark (597 chars)

    Two well kept all brick duplexes. Four units total, all two bedroom one bath units with a bonus room. Generous room sizes, thermal windows, Forced air heat and central air conditioning. Units are metered separately for electricity and gas but water is central for both buildings and paid by the owner. 36 building has new baths with W/ D in them. 32 building has common laundry supplied by the owner in the basement. One unit in each building has a new kitchen. All units have a carport. Close to Westport, the Plaza, KU Med, 39th Street shopping and much more. A great block and a solid location!

20. 2021-07-21
    listed $950,000 Active 597-char remark

    Show marketing remark (597 chars)

    Two well kept all brick duplexes. Four units total, all two bedroom one bath units with a bonus room. Generous room sizes, thermal windows, Forced air heat and central air conditioning. Units are metered separately for electricity and gas but water is central for both buildings and paid by the owner. 36 building has new baths with W/ D in them. 32 building has common laundry supplied by the owner in the basement. One unit in each building has a new kitchen. All units have a carport. Close to Westport, the Plaza, KU Med, 39th Street shopping and much more. A great block and a solid location!

21. 2021-07-20
    historical
22. 2021-04-12
    listed $500,000 Active
23. 2018-11-19
    soldstatus
24. 2018-05-25
    soldstatus Sold
25. 2018-05-01
    status Pending
26. 2018-04-26
    listed $300,000 Active
27. 2003-01-09
    soldstatus
28. 2003-01-07
    soldstatus
29. 2002-10-29
    listed $185,000
30. 1995-07-31
    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: $3,153 · $263/mo
• Projected year-2 tax: $3,879 · $323/mo
• Expected delta: +$726/yr (+$60/mo · 23.0%)

ⓘ 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: $37,056
• − Mortgage interest: −$22,401
• − Property taxes: −$3,153
• − Insurance: −$2,000
• − Repairs & maintenance: −$2,964
• − Management: −$2,964
• − Depreciation: −$11,633
• Taxable loss: −$8,060
• Est. tax savings @ 24.0%: +$1,934
• After-tax cash flow: $890/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): 16,887
• Household income: $61,729
• Rent vs Own: 68.8% rent · 31.2% own
• Severe rent burden: 1606.0

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 White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 10% Black 10% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 3% Slovak 2% Serbian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 90% English-only · Spanish 5% Other Asian/Pacific 1% Chinese 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: ▼ -341.84%
• Current HPI: 282.068
• Rent YoY: ▲ 3.42%
• 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

+116.2% since first listed

15 events — show timeline

• 2026-06-01 Price Changed $399,900 Heartland MLS as Distributed by MLS Grid
• 2026-04-30 Listed $450,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-23 Coming Soon $450,000 Heartland MLS as Distributed by MLS Grid
• 2021-08-24 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2021-07-21 Listed $950,000 Heartland MLS as Distributed by MLS Grid
• 2021-07-20 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2021-04-12 Listed $500,000 Heartland MLS as Distributed by MLS Grid
• 2018-11-19 Sold (Public Records) — Public Records
• 2018-05-25 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2018-05-01 Pending — Heartland MLS as Distributed by MLS Grid
• 2018-04-26 Listed $300,000 Heartland MLS as Distributed by MLS Grid
• 2003-01-09 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2003-01-07 Sold (Public Records) — Public Records
• 2002-10-29 Listed $185,000 Heartland MLS as Distributed by MLS Grid
• 1995-07-31 Sold (Public Records) — Public Records

Property tax history

+3.5%/yr

Latest (2025): $3,153 · +22.2% YoY. Source: county tax records.