2832 Peery Ave · Kansas City, MO 64127

$299,000

4 bd · 2.0 ba · 2,454 sqft · MultiFamily public records · 274 Days on market

Built 1960 8,954 sqft lot Est $387k · 23% under

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Why this score? — see what drove the C 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 +20.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +1.1/10.0

Multi-family units

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

Listing remarks MLS

Don't miss this updated turn-key 2-story duplex in the Historic Northeast neighborhood. Both units feature 3 bedrooms with the bottom level offering a newly built covered back deck while the level offers a newly built sunroom off the kitchen. Both units have updated kitchens with modern finishes and all appliances stay. Both units have gorgeous updated bathrooms, with top-of-the-line fixtures, and the bottom level has heated floors. Both units have laundry rooms and both washer and dryers stay. Refinished hardwoods throughout, original fireplace tile in both units, original unpainted trim on the top floor, and original street stones and original brick exterior for great curb appeal. This duplex is situated on a huge lot with off street parking accessible by the back alleyway. There is a fenced yard to the west, perfect for tenants with pets. An additional yard to the east allowing for future expansion to the property or tenant use for garden space. Sewer line has recently been replaced, all new plumping, AC brand new, furnace newer. Income producing upon closing, tenants wish to stay. Or a perfect opportunity for owner occupancy with rental income.

Key facts

• 8,954 sq ft lot
• Built 1960
• Listed 274 days

🏷️ Possibly a rental listed for sale. The $299,000 price doesn't fit this home's estimated sale value (~$387,346) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1-bath units multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $373 ($4k/yr) — positive. Per door: $186/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $274k (8.4% below list).
• Recommended offer: $263k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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: Whittier Elementary (math 11% / reading 17%, grade F, #1,002 of 1,115 statewide, top 90%, 351 students, 99% FRL); Northeast Middle School (math 4% / reading 9%, grade F, #384 of 391 statewide, top 98%, 555 students, 100% FRL); Northeast High (math 2% / reading 22%, grade F, #497 of 521 statewide, top 96%, 657 students, 100% 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 flat; 107 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• At $2,739/mo this rent would consume 99% of the median local household income ($33k/yr) (locally 1943% 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 $2k of loan paydown is wiped out by about $9k 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 274 days — a 12% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 29y ago; this cycle's ask has dropped $16k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $263,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 274 days. Have you received any prior offers? Is the seller open to a 12% 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 1960 — 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. 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. 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.
9. 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.
10. 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: 0.92% ✗
• Cap rate: 7.79%
• Cash-on-cash: 5.34%
• DSCR: 1.24
• GRM: 9.1

CMA / ARV

• ARV (median comp): $387,346
• List price: $299,000
• Delta: -22.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.94% rent growth · sell at horizon

5-year hold

• IRR: -10.1%
• Equity multiple: 0.64×
• Total profit: $-30,393
• Equity at exit: $44,582

10-year hold

• IRR: -3.6%
• Equity multiple: 0.78×
• Total profit: $-18,309
• Equity at exit: $25,852

Cash invested: $83,720 (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 64127

• Home prices YoY: -2.6%
• Rents YoY: 0.9%
• Active inventory: 107
• Price-to-rent: 18.2×

Monthly cashflow live

• Estimated rent: $2,739 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$98 /mo · $1,180/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$575
• Net cashflow: $373

Break-even live

Break-even rent $2,267

Max offer price $299,000

Occupancy floor 81%

Sensitivity live

Price	-10% $542	-5% $458	+0% $373	+5% $288	+10% $204
Rent	-10% $156	-5% $265	+0% $373	+5% $481	+10% $589
Rate	-1.0pp $523	-0.5pp $449	base $373	+0.5pp $295	+1.0pp $217

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,740
Total (2 units)			$2,739

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2919 E 12th St Kansas City, MO	3.0	2.0	1943	$2,000	$1.03	45d	1	0.11mi
3311 E 19th St Kansas City, MO	5.0	3.0	2500	$2,000	$0.80	45d	1	0.76mi
307 Bellefontaine Ave Kansas City, MO	3.0	3.0	2023	$3,500	$1.73	18d	1	0.77mi
3429 Morrell Ave Kansas City, MO	4.0	1.5	1800	$1,650	$0.92	9d	1	0.93mi
1812 Elmwood Ave Kansas City, MO	3.0	1.0	1650	$1,600	$0.97	18d	1	1.24mi

Listing history 14 events

1. 2026-05-15
   historical Active Under Contract 1166-char remark

   Show marketing remark (1166 chars)

   Don't miss this updated turn-key 2-story duplex in the Historic Northeast neighborhood. Both units feature 3 bedrooms with the bottom level offering a newly built covered back deck while the level offers a newly built sunroom off the kitchen. Both units have updated kitchens with modern finishes and all appliances stay. Both units have gorgeous updated bathrooms, with top-of-the-line fixtures, and the bottom level has heated floors. Both units have laundry rooms and both washer and dryers stay. Refinished hardwoods throughout, original fireplace tile in both units, original unpainted trim on the top floor, and original street stones and original brick exterior for great curb appeal. This duplex is situated on a huge lot with off street parking accessible by the back alleyway. There is a fenced yard to the west, perfect for tenants with pets. An additional yard to the east allowing for future expansion to the property or tenant use for garden space. Sewer line has recently been replaced, all new plumping, AC brand new, furnace newer. Income producing upon closing, tenants wish to stay. Or a perfect opportunity for owner occupancy with rental income.

2. 2026-01-07
   price $299,000 1166-char remark

   Show marketing remark (1166 chars)

   Don't miss this updated turn-key 2-story duplex in the Historic Northeast neighborhood. Both units feature 3 bedrooms with the bottom level offering a newly built covered back deck while the level offers a newly built sunroom off the kitchen. Both units have updated kitchens with modern finishes and all appliances stay. Both units have gorgeous updated bathrooms, with top-of-the-line fixtures, and the bottom level has heated floors. Both units have laundry rooms and both washer and dryers stay. Refinished hardwoods throughout, original fireplace tile in both units, original unpainted trim on the top floor, and original street stones and original brick exterior for great curb appeal. This duplex is situated on a huge lot with off street parking accessible by the back alleyway. There is a fenced yard to the west, perfect for tenants with pets. An additional yard to the east allowing for future expansion to the property or tenant use for garden space. Sewer line has recently been replaced, all new plumping, AC brand new, furnace newer. Income producing upon closing, tenants wish to stay. Or a perfect opportunity for owner occupancy with rental income.

3. 2025-08-29
   listed $315,000 Active 1166-char remark

   Show marketing remark (1166 chars)

   Don't miss this updated turn-key 2-story duplex in the Historic Northeast neighborhood. Both units feature 3 bedrooms with the bottom level offering a newly built covered back deck while the level offers a newly built sunroom off the kitchen. Both units have updated kitchens with modern finishes and all appliances stay. Both units have gorgeous updated bathrooms, with top-of-the-line fixtures, and the bottom level has heated floors. Both units have laundry rooms and both washer and dryers stay. Refinished hardwoods throughout, original fireplace tile in both units, original unpainted trim on the top floor, and original street stones and original brick exterior for great curb appeal. This duplex is situated on a huge lot with off street parking accessible by the back alleyway. There is a fenced yard to the west, perfect for tenants with pets. An additional yard to the east allowing for future expansion to the property or tenant use for garden space. Sewer line has recently been replaced, all new plumping, AC brand new, furnace newer. Income producing upon closing, tenants wish to stay. Or a perfect opportunity for owner occupancy with rental income.

4. 2025-08-26
   historical $315,000 1166-char remark

   Show marketing remark (1166 chars)

   Don't miss this updated turn-key 2-story duplex in the Historic Northeast neighborhood. Both units feature 3 bedrooms with the bottom level offering a newly built covered back deck while the level offers a newly built sunroom off the kitchen. Both units have updated kitchens with modern finishes and all appliances stay. Both units have gorgeous updated bathrooms, with top-of-the-line fixtures, and the bottom level has heated floors. Both units have laundry rooms and both washer and dryers stay. Refinished hardwoods throughout, original fireplace tile in both units, original unpainted trim on the top floor, and original street stones and original brick exterior for great curb appeal. This duplex is situated on a huge lot with off street parking accessible by the back alleyway. There is a fenced yard to the west, perfect for tenants with pets. An additional yard to the east allowing for future expansion to the property or tenant use for garden space. Sewer line has recently been replaced, all new plumping, AC brand new, furnace newer. Income producing upon closing, tenants wish to stay. Or a perfect opportunity for owner occupancy with rental income.

5. 2021-04-05
   soldstatus Closed 135-char remark

   Show marketing remark (135 chars)

   Showing this Saturday 2/27 at noon. Tour all units at that time. Seller prefers to sell as a package with MLS # 2305898 (2 bed duplex).

6. 2021-03-02
   status Pending 135-char remark

   Show marketing remark (135 chars)

   Showing this Saturday 2/27 at noon. Tour all units at that time. Seller prefers to sell as a package with MLS # 2305898 (2 bed duplex).

7. 2021-02-23
   listed $150,000 Active 135-char remark

   Show marketing remark (135 chars)

   Showing this Saturday 2/27 at noon. Tour all units at that time. Seller prefers to sell as a package with MLS # 2305898 (2 bed duplex).

8. 2018-06-05
   soldstatus Sold
9. 2018-05-01
   historical Contingent - Accepting Backup Offers
10. 2018-04-12
    listed $129,900 Active
11. 2010-08-19
    soldstatus
12. 1998-12-23
    soldstatus
13. 1997-11-22
    listed $25,000
14. 1993-07-02
    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: $1,180 · $98/mo
• Projected year-2 tax: $2,900 · $242/mo
• Expected delta: +$1,720/yr (+$143/mo · 145.7%)

ⓘ 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: $32,868
• − Mortgage interest: −$16,749
• − Property taxes: −$1,180
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,629
• − Management: −$2,629
• − Depreciation: −$8,698
• Taxable loss: −$513
• Est. tax savings @ 24.0%: +$123
• After-tax cash flow: $4,598/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): 17,668
• Household income: $33,111
• Rent vs Own: 54.5% rent · 45.5% own
• Severe rent burden: 1943.0

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 0.65)
• Race & ethnicity: Black 42% Hispanic / Latino 40% Two or more races 13% White 12% Native American 1%
• Hispanic origin (detail): Mexican 28%
• Foreign-born: 20% · Canada, Vietnam
• Languages at home: 67% English-only · Spanish 29%

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: ▼ -7.88%
• Current HPI: 289.2468
• Rent YoY: ▲ 0.94%
• 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

+1096.0% since first listed

14 events — show timeline

• 2026-05-15 Contingent — Heartland MLS as Distributed by MLS Grid
• 2026-01-07 Price Changed $299,000 Heartland MLS as Distributed by MLS Grid
• 2025-08-29 Listed $315,000 Heartland MLS as Distributed by MLS Grid
• 2025-08-26 Coming Soon $315,000 Heartland MLS as Distributed by MLS Grid
• 2021-04-05 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2021-03-02 Pending — Heartland MLS as Distributed by MLS Grid
• 2021-02-23 Listed $150,000 Heartland MLS as Distributed by MLS Grid
• 2018-06-05 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2018-05-01 Contingent — Heartland MLS as Distributed by MLS Grid
• 2018-04-12 Listed $129,900 Heartland MLS as Distributed by MLS Grid
• 2010-08-19 Sold (Public Records) — Public Records
• 1998-12-23 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 1997-11-22 Listed $25,000 Heartland MLS as Distributed by MLS Grid
• 1993-07-02 Sold (Public Records) — Public Records

Property tax history

+6.2%/yr

Latest (2025): $1,180 · -26.1% YoY. Source: county tax records.