2929 S Harvard Ave · Independence, MO 64052

$682,000

10 bd · 10.0 ba · 6,066 sqft · MultiFamily public records · 39 Days on market

Built 2004 9,800 sqft lot Est $830k · 18% under $200/mo HOA · 12% of rent ↓ 43% 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
• Cash flow +8.2/30.0
• Livability +4.1/5.0
• Rent growth +3.9/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Excellent cap rate and one unit will be available if you would like to do owner occupant! This unit is very close to the highway and easy access to all things happening in Kansas City. It does stay rented! Please let me know if you have any questions. Showings will be scheduled upon seller availability.

Key facts

• 9,800 sq ft lot
• Garage
• Built 2004

Property features AI

Finance

• Financial info: Gross income reported: $70,200; Operating expenses include maintenance and refuse collection
• HOA & community: Monthly association fee of $200

Exterior

• Parking: Garage parking (total 4 spaces)
• Utilities: Public water; Public sewer; High-speed internet available; Other utilities
• Home design: Residential income property (quadruplex); 2-story building
• Construction: Vinyl siding; Composition roof
• Exterior features: Paved road access; Not in a flood plain

Interior

• Bedrooms: Four units with 4+ bedrooms total; individual units include 2-bedroom and 3-bedroom layouts
• Bathrooms: Units include full and half-bath combinations (some units have 2 baths and 1 half bath)
• Heating & cooling: Electric heating with heat pump; Electric cooling
• Interior features: Maintenance provided

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $682k.

Deal economics

• At list price, monthly cash flow is $-636 ($-8k/yr) — negative. Per door: $-212/mo.
• To cash-flow at today's rent, offer at most $570k (16.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $501k (26.5% below list).
• Recommended offer: $501k (26.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 82/100 on livability (#10 in MO, #1,296 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D+, crime F.
• Independence 30 (suburban): math 26% / reading 38% proficiency, ranked #252 of 324 in MO (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Three Trails Elem. (math 37% / reading 32%, grade F, #676 of 1,115 statewide, top 66%, 317 students, 75% FRL); Clifford H. Nowlin Middle (math 13% / reading 29%, grade F, #342 of 391 statewide, top 88%, 875 students, 80% FRL); Van Horn High (math 13% / reading 27%, grade F, #472 of 521 statewide, top 91%, 1,047 students, 72% FRL) — zoned schools average 76% FRL vs 58% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.4%/yr); 135 active listings in the ZIP; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $5,012/mo this rent would consume 102% of the median local household income ($59k/yr) (locally 965% 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 $5k of loan paydown is wiped out by about $20k 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 39 days — a 3% lower offer ($662k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 15y 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 $501,200 (26.5% 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 39 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.73% ✗
• Cap rate: 5.17%
• Cash-on-cash: -3.99%
• DSCR: 0.82
• GRM: 11.3

CMA / ARV

• ARV (median comp): $830,000
• List price: $682,000
• Delta: -17.83%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.43% rent growth · sell at horizon

5-year hold

• IRR: -20.4%
• Equity multiple: 0.28×
• Total profit: $-138,444
• Equity at exit: $101,688

10-year hold

• IRR: -9.1%
• Equity multiple: 0.38×
• Total profit: $-118,539
• Equity at exit: $58,967

Cash invested: $190,960 (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 64052

• Home prices YoY: -34.6%
• Rents YoY: 5.4%
• Active inventory: 135
• Price-to-rent: 34.0×

Monthly cashflow live

• Estimated rent: $5,012 medium
• Mortgage (P&I): −$3,576
• Tax from tax record: −$534 /mo · $6,414/yr
• Insurance: −$284
• HOA: −$200
• Vacancy / Maint / Mgmt: −$1,053
• Net cashflow: $-636

Break-even live

Break-even rent $5,817

Max offer price $569,710

Occupancy floor —

Sensitivity live

Price	-10% $-250	-5% $-443	+0% $-636	+5% $-829	+10% $-1,022
Rent	-10% $-1,032	-5% $-834	+0% $-636	+5% $-438	+10% $-240
Rate	-1.0pp $-292	-0.5pp $-462	base $-636	+0.5pp $-812	+1.0pp $-992

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$5,013
Total (3 units)			$5,012

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: $170,500
• Closing costs: $20,460
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $200 · $2,400/yr

Listing history 37 events

1. 2026-06-21
   days on market $682,000 Active 39 DOM
2. 2026-06-18
   price $682,000 Active 36 DOM
3. 2026-06-18
   days on market $689,000 Active 36 DOM
4. 2026-06-17
   days on market $689,000 Active 35 DOM
5. 2026-06-16
   days on market $689,000 Active 34 DOM
6. 2026-06-15
   days on market $689,000 Active 33 DOM
7. 2026-06-13
   days on market $689,000 Active 31 DOM
8. 2026-06-09
   days on market $689,000 Active 27 DOM
9. 2026-06-08
   days on market $689,000 Active 26 DOM
10. 2026-06-07
    days on market $689,000 Active 25 DOM
11. 2026-06-05
    days on market $689,000 Active 22 DOM
12. 2026-06-03
    days on market $689,000 Active 21 DOM
13. 2026-06-02
    days on market $689,000 Active 20 DOM
14. 2026-06-01
    days on market $689,000 Active 19 DOM
15. 2026-05-31
    days on market $689,000 Active 18 DOM
16. 2026-05-14
    listed $689,000 Active 305-char remark
17. 2026-05-13
    historical $689,000 305-char remark
18. 2023-12-12
    historical
19. 2023-06-12
    listed $660,000 Active
20. 2022-12-30
    historical
21. 2022-10-31
    status Active
22. 2022-10-04
    status Pending
23. 2022-10-02
    price $642,500
24. 2022-05-14
    price $630,000
25. 2022-03-17
    price $650,000
26. 2022-02-16
    price $1,325
27. 2022-02-03
    status Active
28. 2022-01-26
    status Pending
29. 2021-12-30
    listed $630,000 Active
30. 2016-07-20
    historical
31. 2016-06-30
    status Active
32. 2016-06-28
    historical Contingent - Accepting Backup Offers
33. 2016-06-24
    status Pending
34. 2016-06-16
    historical Contingent - Accepting Backup Offers
35. 2016-01-25
    listed $349,000 Active
36. 2011-08-19
    soldstatus
37. 2011-01-28
    listed $1,205,000

ⓘ 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: $6,414 · $534/mo
• Projected year-2 tax: $6,615 · $551/mo
• Expected delta: +$202/yr (+$17/mo · 3.1%)

ⓘ 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: $60,144
• − Mortgage interest: −$38,203
• − Property taxes: −$6,414
• − Insurance: −$3,410
• − Repairs & maintenance: −$4,812
• − Management: −$4,812
• − HOA: −$2,400
• − Depreciation: −$19,840
• Taxable loss: −$19,745
• Est. tax savings @ 24.0%: +$4,739
• After-tax cash flow: $-2,889/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: Independence 30
• NCES district ID: 2915480
• Math proficiency: 26% ▼ -8.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $41,843
• Composite: 27.04/100
• National rank: #7054
• State rank: #252 of 324 in MO

Livability — Independence

• Score: 82/100
• State rank: #10
• US rank: #1296

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment D+ Housing A+ Health & safety A User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Independence, MO
• County: Jackson County · 687,798 people
• City population: 117,675
• Metro: Kansas City, MO-KS
• Population (ZIP): 22,138
• Household income: $59,007
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 965.0

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 0.56)
• Race & ethnicity: White 62% Hispanic / Latino 23% Two or more races 15% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 12% Slovak 2% Lithuanian 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 85% English-only · Spanish 13% Other Asian/Pacific 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: ▼ -160.06%
• Current HPI: 302.1124
• Rent YoY: ▲ 5.43%
• 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

-42.8% since first listed

22 events — show timeline

• 2026-05-14 Listed $689,000 Heartland MLS as Distributed by MLS Grid
• 2026-05-13 Coming Soon $689,000 Heartland MLS as Distributed by MLS Grid
• 2023-12-12 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2023-06-12 Listed $660,000 Heartland MLS as Distributed by MLS Grid
• 2022-12-30 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2022-10-31 Relisted — Heartland MLS as Distributed by MLS Grid
• 2022-10-04 Pending — Heartland MLS as Distributed by MLS Grid
• 2022-10-02 Price Changed $642,500 Heartland MLS as Distributed by MLS Grid
• 2022-05-14 Price Changed $630,000 Heartland MLS as Distributed by MLS Grid
• 2022-03-17 Price Changed $650,000 Heartland MLS as Distributed by MLS Grid
• 2022-02-16 Price Changed $1,325 RENT.
• 2022-02-03 Relisted — Heartland MLS as Distributed by MLS Grid
• 2022-01-26 Pending — Heartland MLS as Distributed by MLS Grid
• 2021-12-30 Listed $630,000 Heartland MLS as Distributed by MLS Grid
• 2016-07-20 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2016-06-30 Relisted — Heartland MLS as Distributed by MLS Grid
• 2016-06-28 Contingent — Heartland MLS as Distributed by MLS Grid
• 2016-06-24 Pending — Heartland MLS as Distributed by MLS Grid
• 2016-06-16 Contingent — Heartland MLS as Distributed by MLS Grid
• 2016-01-25 Listed $349,000 Heartland MLS as Distributed by MLS Grid
• 2011-08-19 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2011-01-28 Listed $1,205,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+4.6%/yr

Latest (2025): $6,414 · -21.7% YoY. Source: county tax records.