7109 N Cherry Ln · Gladstone, MO 64118

$149,999

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 75 Days on market

Built 1955 6,970 sqft lot $195/sqft · 21% below area Est $190k · 21% 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 +15.2/30.0
• ARV discount +15.0/15.0
• DSCR +4.7/10.0
• Schools +3.8/10.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home, located in the heart of Gladstone, is walking distance to Gladstone community center, city hall, and plenty of locally owned small businesses. Small town charm with big city perks! Great home for first time buyer or as an investment property.

Key facts

• 6,970 sq ft lot
• Built 1955
• Listed 75 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $53 ($637/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (13.7% below list).
• Recommended offer: $129k (13.7% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.4% in Gladstone — 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 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.
• Market conditions: Rents rising (+3.2%/yr); 183 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 341 units permitted in Clay County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 75 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y ago; this cycle's ask has dropped $35k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,399 (13.7% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 6.72%
• Cash-on-cash: 1.52%
• DSCR: 1.07
• GRM: 9.7

CMA / ARV

• ARV (median comp): $190,459
• List price: $149,999
• Delta: -21.24%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7109 N Cherry Ln	0.00mi	2/1.0	768 (0%)	0mo	$149,999	$195	100
7104 N Cherry St	0.09mi	2/1.0	700 (-9%)	11mo	$139,900	$200	72
601 NE 74th Ter	0.35mi	2/1.0	832 (+8%)	6mo	$210,000	$252	65
608 NE 66th Ter	0.68mi	2/1.0	744 (-3%)	3mo	$200,000	$269	61
6800 N Troost Ave	0.54mi	2/1.0	836 (+9%)	6mo	$180,000	$215	55
7106 N Kranz Rd	0.56mi	3/1.0 (+1)	756 (-2%)	21mo	$135,000	$179	49
609 NE 76th Ter	0.58mi	2/1.0	864 (+12%)	4mo	$180,000	$208	49
7106 N Highland Ave	0.67mi	3/1.0 (+1)	792 (+3%)	14mo	$175,000	$221	46
406 NE 67th Ter	0.54mi	2/1.0	816 (+6%)	23mo	$199,500	$244	45
7510 N Wayne Ave	0.73mi	3/1.0 (+1)	875 (+14%)	3mo	$200,000	$229	36
1703 NE 72nd St	0.73mi	2/1.0	680 (-12%)	22mo	$155,000	$228	29

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -13.7%
• Equity multiple: 0.51×
• Total profit: $-20,685
• Equity at exit: $22,365

10-year hold

• IRR: -4.6%
• Equity multiple: 0.70×
• Total profit: $-12,672
• Equity at exit: $12,969

Cash invested: $42,000 (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: 183
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,294 high
• Mortgage (P&I): −$787
• Tax from tax record: −$120 /mo · $1,441/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $53

Break-even live

Break-even rent $1,227

Max offer price $149,999

Occupancy floor 91%

Sensitivity live

Price	-10% $138	-5% $96	+0% $53	+5% $11	+10% $-32
Rent	-10% $-49	-5% $2	+0% $53	+5% $104	+10% $155
Rate	-1.0pp $129	-0.5pp $91	base $53	+0.5pp $14	+1.0pp $-25

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
450 NE 68th St Kansas City, MO	1.0–2.0	1.0–1.5	835	$1,305	$1.56	3d	17	0.43mi
7670 N Euclid Ave Gladstone, MO	2.0	1.0–1.5	975	$1,185	$1.22	17d	3	1.08mi
7670 N Euclid Ave Unit B-7663 Gladstone, MO	2.0	1.0	700	$920	$1.31	24d	1	1.08mi
7670 N Euclid Ave Unit 76-1932 Gladstone, MO	2.0	1.0	900	$1,395	$1.55	22d	1	1.08mi
410 NE 81st St Unit 410 Kansas City, MO	2.0	1.0	900	$1,500	$1.67	24d	1	1.16mi
2404 NE 70th St Gladstone, MO	1.0–2.0	1.0–2.0	857	$1,075	$1.25	44d	1	1.20mi
2483 NE 68th St Kansas City, MO	2.0	2.0	928	$1,325	$1.43	5d	1	1.22mi
325 NW 62nd Ter Kansas City, MO	2.0	1.0	780	$1,150	$1.47	24d	1	1.38mi
6011 N Forest Ave Kansas City, MO	3.0	1.0	986	$1,595	$1.62	8d	1	1.39mi
910 NW 79th Ter Kansas City, MO	1.0–2.0	1.0–2.0	805	$1,400	$1.74	3d	18	1.45mi

Listing history 10 events

1. 2026-05-15
   status Pending 253-char remark

   Show marketing remark (253 chars)

   This home, located in the heart of Gladstone, is walking distance to Gladstone community center, city hall, and plenty of locally owned small businesses. Small town charm with big city perks! Great home for first time buyer or as an investment property.

2. 2026-05-07
   historical Active Under Contract 253-char remark

   Show marketing remark (253 chars)

   This home, located in the heart of Gladstone, is walking distance to Gladstone community center, city hall, and plenty of locally owned small businesses. Small town charm with big city perks! Great home for first time buyer or as an investment property.

3. 2026-05-06
   price $149,999 253-char remark

   Show marketing remark (253 chars)

   This home, located in the heart of Gladstone, is walking distance to Gladstone community center, city hall, and plenty of locally owned small businesses. Small town charm with big city perks! Great home for first time buyer or as an investment property.

4. 2026-04-14
   price $177,500 253-char remark

   Show marketing remark (253 chars)

   This home, located in the heart of Gladstone, is walking distance to Gladstone community center, city hall, and plenty of locally owned small businesses. Small town charm with big city perks! Great home for first time buyer or as an investment property.

5. 2026-03-02
   listed $185,000 Active 253-char remark

   Show marketing remark (253 chars)

   This home, located in the heart of Gladstone, is walking distance to Gladstone community center, city hall, and plenty of locally owned small businesses. Small town charm with big city perks! Great home for first time buyer or as an investment property.

6. 2026-02-26
   historical $185,000 253-char remark

   Show marketing remark (253 chars)

   This home, located in the heart of Gladstone, is walking distance to Gladstone community center, city hall, and plenty of locally owned small businesses. Small town charm with big city perks! Great home for first time buyer or as an investment property.

7. 2008-05-20
   soldstatus 255-char remark

   Show marketing remark (255 chars)

   HomeSteps Home-As Is-No Seller Disclosure/Special Addendums Apply-Proof of Funds/Preapproval w/ Offer-No Contingencies-E/Deposit must be Certified Funds-Excellent opportunity, needs Repair & Updating-Walkout Basement-Fenced Yard-Convenient Location.

8. 2008-04-10
   listed $35,500 255-char remark

   Show marketing remark (255 chars)

   HomeSteps Home-As Is-No Seller Disclosure/Special Addendums Apply-Proof of Funds/Preapproval w/ Offer-No Contingencies-E/Deposit must be Certified Funds-Excellent opportunity, needs Repair & Updating-Walkout Basement-Fenced Yard-Convenient Location.

9. 2008-04-01
   soldstatus
10. 2005-05-23
    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: $1,441 · $120/mo
• Projected year-2 tax: $1,455 · $121/mo
• Expected delta: +$14/yr (+$1/mo · 1.0%)

ⓘ 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: $15,528
• − Mortgage interest: −$8,402
• − Property taxes: −$1,441
• − Insurance: −$750
• − Repairs & maintenance: −$1,242
• − Management: −$1,242
• − Depreciation: −$4,364
• Taxable loss: −$1,913
• Est. tax savings @ 24.0%: +$459
• After-tax cash flow: $1,096/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

+322.5% since first listed

10 events — show timeline

• 2026-05-15 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-05-07 Contingent — Heartland MLS as Distributed by MLS Grid
• 2026-05-06 Price Changed $149,999 Heartland MLS as Distributed by MLS Grid
• 2026-04-14 Price Changed $177,500 Heartland MLS as Distributed by MLS Grid
• 2026-03-02 Listed $185,000 Heartland MLS as Distributed by MLS Grid
• 2026-02-26 Coming Soon $185,000 Heartland MLS as Distributed by MLS Grid
• 2008-05-20 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2008-04-10 Listed $35,500 Heartland MLS as Distributed by MLS Grid
• 2008-04-01 Sold (Public Records) — Public Records
• 2005-05-23 Sold (Public Records) — Public Records

Property tax history

+3.7%/yr

Latest (2025): $1,441 · +7.6% YoY. Source: county tax records.