325-327 NW 62nd Ter · Gladstone, MO 64118

$350,000

2 bd · 1.0 ba · 780 sqft · MultiFamily public records · 126 Days on market

Built 1977 0.32 ac lot $449/sqft · 20% above area Est $582k · 40% 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 +15.0/15.0
• Cash flow +8.9/30.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +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: 2 units. confirmed

Listing remarks MLS

Nice Duplex in a desirable location. The listing includes 2 units: 325 NW 62nd Terrace and 327 NW 62nd Terrace. As of 5/1/26: Unit 325 Leased: NO Montly Rent NA Unit 327 Leased: 11/1/25-10/31/26 Montly Rent 1050 Parcel ID: 13905000701700-325 NW 62nd Terrace, 13905000701701-327 NW 62nd Terrace Please note all information deemed reliable, it is the responsibility of the Buyer to verify and confirm all information including but not limited to square feet, lot size, schools, taxes, room sizes, room count, descriptions, financials, materials, etc. Agent is related to the Seller This sale may be combined with any or all of the following properties if desired: 10611-10617 NW Locust Ct. , Kansas City, MLS # 2586763 10620-10626 NW Locust Ct. , Kansas City, MLS# 2586491 10630-10636 NW Locust Ct. , Kansas City, MLS# 2586575 939-941 Goldfinch, Liberty, MLS # 2587390 224-226 NW 62nd Terrace, Gladstone, MLS# 2587400

Key facts

• 0.32 acre lot
• Garage
• Built 1977

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $-279 ($-3k/yr) — negative. Per door: $-140/mo.
• To cash-flow at today's rent, offer at most $301k (14.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $226k (35.3% below list).
• Recommended offer: $226k (35.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#44 in MO, #3,612 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities F, commute F.
• North Kansas City 74 (urban): math 38% / reading 49% proficiency, ranked #98 of 324 in MO (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Linden West Elementary (math 38% / reading 45%, grade F, #517 of 1,115 statewide, top 46%, 447 students, 60% FRL); Northgate Middle (math 25% / reading 37%, grade F, #279 of 391 statewide, top 72%, 689 students, 63% FRL); Oak Park High (math 36% / reading 56%, grade D-, #170 of 521 statewide, top 33%, 1,756 students, 42% FRL) — zoned schools average 55% FRL vs 37% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.2%/yr); 185 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); 341 units permitted in Clay County in 2024 (40 in 5+ unit buildings).
• This rent runs 36% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Clay County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $108k; list at $350k implies a 224% gain — meaningful room to come down on a strong offer.

Recommended offer $226,400 (35.3% 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 126 days. Have you received any prior offers? Is the seller open to a 35% 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. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.65% ✗
• Cap rate: 5.34%
• Cash-on-cash: -3.42%
• DSCR: 0.85
• GRM: 12.9

CMA / ARV

• ARV (median comp): $582,480
• List price: $350,000
• Delta: -39.91%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.2% rent growth · sell at horizon

5-year hold

• IRR: -21.9%
• Equity multiple: 0.24×
• Total profit: $-74,232
• Equity at exit: $52,186

10-year hold

• IRR: -15.6%
• Equity multiple: 0.12×
• Total profit: $-86,405
• Equity at exit: $30,262

Cash invested: $98,000 (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 64118

• Rents YoY: 3.2%
• Active inventory: 185
• Price-to-rent: 25.8×

Monthly cashflow live

• Estimated rent: $2,264 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$87 /mo · $1,040/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $-279

Break-even live

Break-even rent $2,618

Max offer price $300,653

Occupancy floor —

Sensitivity live

Price	-10% $-81	-5% $-180	+0% $-279	+5% $-378	+10% $-477
Rent	-10% $-458	-5% $-369	+0% $-279	+5% $-190	+10% $-100
Rate	-1.0pp $-103	-0.5pp $-190	base $-279	+0.5pp $-370	+1.0pp $-462

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,264
Total (2 units)			$2,264

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
325 NW 62nd Ter Kansas City, MO	2.0	1.0	780	$1,150	$1.47	25d	1	0.02mi
6024 N Jefferson St Kansas City, MO	1.0–3.0	1.0–2.0	1109	$1,298	$1.17	4d	11	0.26mi
5710 N Belleview Ave Kansas City, MO	2.0–3.0	2.0	960	$1,339	$1.39	9d	1	0.60mi
5700 N Main St Kansas City, MO	1.0	1.0	634	$1,250	$1.97	4d	4	0.63mi
1428 NW 64th Ter Kansas City, MO	2.0	1.0	960	$1,345	$1.40	9d	1	0.75mi
450 NE 68th St Kansas City, MO	1.0–2.0	1.0–1.5	835	$1,305	$1.56	4d	17	0.96mi
6011 N Forest Ave Kansas City, MO	3.0	1.0	986	$1,595	$1.62	9d	1	0.99mi
5400 N Summit St Kansas City, MO	1.0–3.0	1.0–2.0	988	$1,874	$1.90	3d	44	1.07mi
6943 N Bedford Ave Kansas City, MO	1.0–3.0	1.0–3.0	1257	$1,824	$1.45	25d	6	1.39mi

Listing history 3 events

1. 2026-05-31
   days on market $350,000 Active 126 DOM
2. 2026-01-25
   listed $350,000 Active 928-char remark

   Show marketing remark (928 chars)

   Nice Duplex in a desirable location. The listing includes 2 units: 325 NW 62nd Terrace and 327 NW 62nd Terrace. As of 5/1/26: Unit 325 Leased: NO Montly Rent NA Unit 327 Leased: 11/1/25-10/31/26 Montly Rent 1050 Parcel ID: 13905000701700-325 NW 62nd Terrace, 13905000701701-327 NW 62nd Terrace Please note all information deemed reliable, it is the responsibility of the Buyer to verify and confirm all information including but not limited to square feet, lot size, schools, taxes, room sizes, room count, descriptions, financials, materials, etc. Agent is related to the Seller This sale may be combined with any or all of the following properties if desired: 10611-10617 NW Locust Ct. , Kansas City, MLS # 2586763 10620-10626 NW Locust Ct. , Kansas City, MLS# 2586491 10630-10636 NW Locust Ct. , Kansas City, MLS# 2586575 939-941 Goldfinch, Liberty, MLS # 2587390 224-226 NW 62nd Terrace, Gladstone, MLS# 2587400

3. 2009-12-03
   soldstatus $107,988

ⓘ 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: $1,040 · $87/mo
• Projected year-2 tax: $3,395 · $283/mo
• Expected delta: +$2,355/yr (+$196/mo · 226.6%)

ⓘ 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: $27,168
• − Mortgage interest: −$19,605
• − Property taxes: −$1,040
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,173
• − Management: −$2,173
• − Depreciation: −$10,182
• Taxable loss: −$9,756
• Est. tax savings @ 24.0%: +$2,341
• After-tax cash flow: $-1,011/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: North Kansas City 74
• NCES district ID: 2922800
• Math proficiency: 38% ▼ -11.00%
• Reading proficiency: 49% ▼ -3.00%
• Median HH income: $55,444
• Composite: 37.88/100
• National rank: #4321
• State rank: #98 of 324 in MO

Livability — Gladstone

• Score: 76/100
• State rank: #44
• US rank: #3612

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gladstone, MO
• County: Clay County · 220,651 people
• City population: 41,984
• Metro: Kansas City, MO-KS
• Population (ZIP): 41,984
• Household income: $74,740
• Rent vs Own: 40.6% rent · 59.4% own
• Severe rent burden: 1629.0

Population outlook (Clay County) Hauer SSP2

• Today (2025): 266,022 people
• By 2030: 280,057 · +5.3%
• By 2040: 306,153 · +15.1%
• By 2050: 328,630 · +23.5%
• By 2075: 375,182 · +41.0%
• By 2100: 392,861 · +47.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 10% Hispanic / Latino 10% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 7% · Canada, China, Vietnam
• Languages at home: 90% English-only · Spanish 4% Arabic 1% Other Asian/Pacific 1%

Political lean MEDSL · Clay

• 2024 margin: Lean R (+5.6) · D 46.4% · R 52.0% · Other 1.6%
• 2008→2024 swing: -4.9pp toward R · 2008: -0.7pp · 2024: -5.6pp
• All cycles: 2024: R+5.6 2020: R+4.1 2016: R+11.1 2012: R+8.4 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -250.16%
• Current HPI: 240.9626
• Rent YoY: ▲ 3.20%
• 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

+224.1% since first listed

2 events — show timeline

• 2026-01-25 Listed $350,000 Heartland MLS as Distributed by MLS Grid
• 2009-12-03 Sold (Public Records) $107,988 Public Records

Property tax history

+2.6%/yr

Latest (2025): $1,040 · +11.9% YoY. Source: county tax records.