10027 E 67th St

Raytown, MO 64133

$455,000C-

8 bd · 8.0 ba · 3,968 sqft · Built 1983 · MultiFamily · Active · 93 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,708/mo
• Mortgage (P&I): −$2,386
• Tax + insurance: −$750
• HOA: −$0
• Vac / Maint / Mgmt: −$989
• Net cashflow: $583/mo
• Annual: $7,002/yr
• Cap rate: 7.98%
• Cash-on-cash: 6.02%
• DSCR: 1.27
• 1% rule: 1.03%
• Cash to close: $127,400

Investor read

• This is a 4 × 2-bed/2.0-bath units multifamily listed at $455k.
• At list price, monthly cash flow is $583 ($7k/yr) — positive. Per door: $146/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $455k).
• It's been on market 93 days — a 9% lower offer ($414k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $414k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#281 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime F, amenities F, commute F.
• Raytown C-2 (suburban): math 12% / reading 28% proficiency, ranked #302 of 324 in MO (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Robinson Elem. (math 27% / reading 42%, grade F, #676 of 1,115 statewide, top 66%, 345 students, 60% FRL); Raytown Central Middle (math 16% / reading 32%, grade F, #326 of 391 statewide, top 84%, 564 students, 64% FRL); Raytown South Sr. High (math 8% / reading 32%, grade F, #475 of 521 statewide, top 92%, 1,185 students, 68% FRL).
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: Rents rising (+1.3%/yr); 208 active listings in the ZIP; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• Jackson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 7 sale attempts since 20y 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.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.0% vs local median 5.0% in Raytown — 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.
• At $4,708/mo this rent would consume 83% of the median local household income ($68k/yr) (locally 1173% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?