83 N Mill St · Kansas City, KS 66101

$135,000

2 bd · 2.0 ba · 1,092 sqft · MultiFamily public records · 90 Days on market

Built 1930 3,485 sqft lot

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0

Multi-family units

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

Listing remarks

Looking for the right investment opportunity or trying to accommodate extended family then take a look at this charming duplex. Features two levels with private entries to each unit. The upper unit is a one bedroom, one bath unit with kitchen, dining room, living room and handicapped access. Lower level is a studio unit with living room, kitchen and full bath. Includes private parking, shared laundry room and front and reach porch areas. Great opportunity to add to your portfolio or own a property with a mother in law suite!

Key facts

• Shared laundry room
• Mother in law suite
• Front porch

Tags

• PRIVATE ENTRIES
• PRIVATE PARKING
• SHARED LAUNDRY ROOM
• FRONT PORCH
• REAR PORCH
• MOTHER IN LAW SUITE

Property features AI

Finance

• Other: Zoning: kr2b
• Financial info: Gross income reported: $20,000; Operating expenses may include accounting, legal, maintenance, personal property tax, insurance, property management, real estate tax, and supplies
• HOA & community: No association fees; Maintenance provided: building exterior, HVAC, lawn (maintenance responsibility noted)

Exterior

• Parking: Two parking spaces total; Off-street and on-street parking available
• Utilities: Public water; Public sewer; Central water heater
• Home design: Duplex residential income property; Two stories
• Construction: Frame construction; Composition roof
• Exterior features: Deck; Not in a flood plain

Interior

• Kitchen: Range/Oven (in units); Refrigerator; Cooktop; Dishwasher
• Bedrooms: Two 1-bedroom units (one 1-bedroom unit with 3 rooms, one 1-bedroom unit with 4 rooms)
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Natural gas heating; Electric air conditioning
• Interior features: Cooktop, Dishwasher, Refrigerator; Dryer and Washer included; Electric cooling; Natural gas heating
• Laundry & utility: Washer and Dryer; Laundry located in basement and utility room; Central water heater

What this means for you Summary

Snapshot

• This is a 1×2bd/2.0ba + 1×1bd/1.0ba units multifamily listed at $135k.

Deal economics

• At list price, monthly cash flow is $855 ($10k/yr) — positive. Per door: $428/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $127k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 4.8% 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 72/100 on livability (#103 in KS) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, employment D-.
• Kansas City (urban): math 8% / reading 15% proficiency, ranked #169 of 169 in KS (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 42 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 369 units permitted in Wyandotte County in 2024 (236 in 5+ unit buildings).
• At $2,227/mo this rent would consume 63% of the median local household income ($43k/yr) (locally 457% 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 $14k of equity ($933 loan paydown + $14k appreciation (10.0% local appreciation)).
• Wyandotte County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 16y ago; this cycle's ask has dropped $10k (7%) 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.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% 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. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
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: 1.65% ✓
• Cap rate: 13.90%
• Cash-on-cash: 27.15%
• DSCR: 2.21
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 44.8%
• Equity multiple: 4.39×
• Total profit: $128,017
• Equity at exit: $121,619

10-year hold

• IRR: 38.8%
• Equity multiple: 9.84×
• Total profit: $334,180
• Equity at exit: $262,275

Cash invested: $37,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Kansas: 83 Strongly Landlord-Friendly · R+10
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; moderate court pace.

Methodology + full state rankings →

ZIP-level market 66101

• Home prices YoY: 20.4%
• Active inventory: 42
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,227 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$140 /mo · $1,678/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $855

Break-even live

Break-even rent $1,144

Max offer price $135,000

Occupancy floor 57%

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

Units	Beds	Baths	Est. rent
1× unit	2	2	$1,185
1× unit	1	1	$1,042
Total (2 units)			$2,227

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1515 W 9th St Kansas City, MO	2.0	1.0–2.0	706	$1,675	$2.37	2d	49	1.48mi

Listing history 37 events

1. 2026-06-18
   days on market $135,000 Active 90 DOM
2. 2026-06-17
   days on market $135,000 Active 89 DOM
3. 2026-06-16
   days on market $135,000 Active 88 DOM
4. 2026-06-15
   days on market $135,000 Active 87 DOM
5. 2026-06-13
   days on market $135,000 Active 85 DOM
6. 2026-06-13
   days on market $135,000 Active 84 DOM
7. 2026-06-09
   days on market $135,000 Active 81 DOM
8. 2026-06-08
   days on market $135,000 Active 80 DOM
9. 2026-06-07
   days on market $135,000 Active 79 DOM
10. 2026-06-05
    days on market $135,000 Active 76 DOM
11. 2026-06-03
    days on market $135,000 Active 75 DOM
12. 2026-06-02
    days on market $135,000 Active 74 DOM
13. 2026-06-02
    price $135,000 Active 73 DOM
14. 2026-06-01
    days on market $139,500 Active 73 DOM
15. 2026-05-31
    days on market $139,500 Active 72 DOM
16. 2026-04-21
    price $139,500
17. 2026-03-28
    historical $700
18. 2026-03-20
    listed $144,500 Active
19. 2026-02-25
    listed $700
20. 2025-11-24
    historical
21. 2025-11-12
    status Active
22. 2025-11-05
    status Pending
23. 2025-10-17
    price $144,500
24. 2025-09-06
    listed $149,500 Active
25. 2025-08-31
    historical $700
26. 2025-05-06
    listed $700
27. 2024-10-25
    historical
28. 2024-08-06
    price $144,500
29. 2024-06-25
    listed $149,500 Active
30. 2019-12-12
    soldstatus
31. 2019-12-10
    soldstatus Sold
32. 2019-11-18
    status Pending
33. 2019-11-05
    price $55,000
34. 2019-10-25
    listed $65,000 Active
35. 2011-10-18
    historical
36. 2010-10-18
    listed $55,000
37. 1993-08-01
    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 KS · Resets to sale price

• Current annual tax: $1,678 · $140/mo
• Projected year-2 tax: $1,904 · $159/mo
• Expected delta: +$226/yr (+$19/mo · 13.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 16 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: $26,724
• − Mortgage interest: −$7,562
• − Property taxes: −$1,678
• − Insurance: −$675
• − Repairs & maintenance: −$2,138
• − Management: −$2,138
• − Depreciation: −$3,927
• Taxable income: $8,606
• Est. tax owed @ 24.0%: −$2,066
• After-tax cash flow: $8,198/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
• NCES district ID: 2007950
• Math proficiency: 8% ▼ -10.00%
• Reading proficiency: 15% ▼ -4.00%
• Median HH income: $34,774
• Composite: 9.38/100
• National rank: #9856
• State rank: #169 of 169 in KS

Livability — Kansas City

• Score: 72/100
• State rank: #103
• US rank: #6054

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kansas City, KS
• County: Wyandotte County · 130,206 people
• City population: 130,206
• Metro: Kansas City, MO-KS
• Population (ZIP): 12,556
• Household income: $42,551
• Rent vs Own: 60.8% rent · 39.2% own
• Severe rent burden: 457.0

Population outlook (Wyandotte County) Hauer SSP2

• Today (2025): 177,063 people
• By 2030: 183,212 · +3.5%
• By 2040: 195,697 · +10.5%
• By 2050: 207,897 · +17.4%
• By 2075: 236,169 · +33.4%
• By 2100: 255,790 · +44.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Hispanic / Latino 47% Black 30% White 16% Two or more races 10% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 40%
• Common ancestry: Romanian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 29% · Canada, India
• Languages at home: 53% English-only · Spanish 39% Other Asian/Pacific 2%

Political lean MEDSL · Wyandotte

• 2024 margin: Strong D (+23.9) · D 61.1% · R 37.3% · Other 1.6%
• 2008→2024 swing: -17.0pp toward R · 2008: 40.9pp · 2024: 23.9pp
• All cycles: 2024: D+23.9 2020: D+30.9 2016: D+29.1 2012: D+36.4 2008: D+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 77.98%
• Current HPI: 460.4303
• Rent YoY: —
• Metro: Kansas City, MO-KS
• State GDP YoY: —
• F500 in state: 0

Price history

+153.6% since first listed

22 events — show timeline

• 2026-04-21 Price Changed $139,500 Heartland MLS as Distributed by MLS Grid
• 2026-03-28 Rental Removed $700 SHOWMOJO
• 2026-03-20 Listed $144,500 Heartland MLS as Distributed by MLS Grid
• 2026-02-25 Listed for Rent $700 SHOWMOJO
• 2025-11-24 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-11-12 Relisted — Heartland MLS as Distributed by MLS Grid
• 2025-11-05 Pending — Heartland MLS as Distributed by MLS Grid
• 2025-10-17 Price Changed $144,500 Heartland MLS as Distributed by MLS Grid
• 2025-09-06 Listed $149,500 Heartland MLS as Distributed by MLS Grid
• 2025-08-31 Rental Removed $700 SHOWMOJO
• 2025-05-06 Listed for Rent $700 SHOWMOJO
• 2024-10-25 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2024-08-06 Price Changed $144,500 Heartland MLS as Distributed by MLS Grid
• 2024-06-25 Listed $149,500 Heartland MLS as Distributed by MLS Grid
• 2019-12-12 Sold (Public Records) — Public Records
• 2019-12-10 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2019-11-18 Pending — Heartland MLS as Distributed by MLS Grid
• 2019-11-05 Price Changed $55,000 Heartland MLS as Distributed by MLS Grid
• 2019-10-25 Listed $65,000 Heartland MLS as Distributed by MLS Grid
• 2011-10-18 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2010-10-18 Listed $55,000 Heartland MLS as Distributed by MLS Grid
• 1993-08-01 Sold (Public Records) — Public Records

Property tax history

+1.8%/yr

Latest (2025): $1,678 · +9.5% YoY. Source: county tax records.