Buying a Smithville Rental: Underwrite This Year, Not a Blend

Jacob Mishalanie
Aug 19
12 min read

Updated: 8 hours ago

Smithville Lake aerial with the dam at upper left

Underwrite Smithville at $32,889 on 20 listings, June 2025 through May 2026: ADR $238, occupancy 51.8 percent, RevPAR $124, stay 4.8 nights, professionally managed 50.0 percent. Do not underwrite a Weston year ($47,063) or a Liberty year as this note. Year over year is plus 8.5 percent; supply is plus 11.1 percent. Peak months are March, December, and April; November is the hole.

The town is about 30 minutes north of Kansas City via I-29 and MO-92. The reservoir, Jerry Litton Visitor Center, and 7,190 acres explain demand; they are not debt service. City Hall at 107 West Main Street and Chapter 625 sit with a city parcel. A lake house outside city limits is a different clerk. Confirm 2026 Chapter 625.080 text at City Hall. Tax remittance is not the AirROI year.

City hall at 107 West Main Street sits with a city deed. Chapter 625 sits with a city parcel. A lake house outside city limits is a different town. AirROI Low is a scrape, and tax remittance is not T12. Confirm remittance at the matching clerk, and confirm 2026 Chapter 625.080 text at the clerk. Leave out unverified a new cap from a packet filename. Rob is on this market sample with 11 of 20 listings. That does not close the field, and twenty listings means one listing moves the percent.

budget 32,889 on 20 Listings

DSCR on this cell is DSCR on $32,889, and the sample is 20 listings. Entire-home share is 95 percent, and superhost share is 85.0 percent. Stay is 4.8 nights, and occupancy is 51.8 percent. ADR is $238, and revPAR is $124. Peak-3 is March, December, and April, and softest revenue is November. None of that becomes a blended Northland story because the reservoir sits 30 minutes from Kansas City. A lender who wants a larger rent roll is asking you to invent a year. Refuse that year.

File the extract that matches the deed. If the parcel is Smithville, the year is $32,889 and the stay is 4.8. If the parcel is Weston, you are on a distillery cell. If the parcel is Liberty, you are not on this cell.compare pageexists so a packet cannot wear the wrong Northland. Thirty minutes is the drive. It is not Kansas City ADR. A buyer who needs a larger year should buy a different published market year.

Professionally managed share is 50.0 percent, and three thirty-plus settings. Lead 30 days. those offices describe listed listings, not a filled note. Thefinance pageis the longer underwriting file. This section is the number that goes on the first line: $32,889 eight hundred eighty-nine, not a costume. 20 listings travel with that line, and Keep it that way. Peak month is March, and december and April sit on the peak three. November is the hole. A DSCR that ignores those months is not this cell. Rank leftover $30,491 is superseded, and cite $32,889, and cite the live year only.

Keep Weston $47,063 Off the Bid

The sample is 20 listings. is tiny. One new listing moves every percentage on this file. Professionally managed share of 50.0 percent can swing on a single listings. Three thirty-plus settings are 15 percent until a fourth host flips a toggle. Two-bedroom share of 30 percent is one house in three, until it is not. Superhost share of 85.0 percent is seventeen of twenty, until it is not. File the small sample as a small sample. Do not treat any percent as a forever market.

20 listings also means the competitive set is visible. Walk the launch, and walk 107 West Main Street. See the reservoir if the lake night is the demand story you are buying. Do not buy a Weston story, and do not buy a Kansas City skyline story. AirROI neighborhoods that blend Prairie Village, a Johnson County Kansas desk, into this cell are vendor blend. Keep them in the packet, and the.guest pageis who already books the twenty.

A small sample is not a reason to walk. It is a reason to stop minting, and superhost share is 85.0 percent on 20 listings. Independent hosts still operate on half the gallery, and the town already knows overnight guests. What the town does not owe you is a gold-mine year. Year over year plus 8.5 percent is part of that honesty. File it next to 20 so a future you cannot claim you were surprised. Stay is 4.8 nights, and three thirty-plus settings. those offices travel with the sample too, and a packet that drops has already started minting. Keep the sample small on paper.

Supply Is Plus 11.1 Percent

Weston is $47,063, ADR $350, occupancy 42.2 percent,, on a May 2025 through April 2026 vintage. That is a different cell, and distillery town, and band A 067. Do not borrow 18 listings to make 20 listings look different. Do not borrow $350 ADR to make $238 look timid. Keep Weston as Weston. Smithville stays $32,889 on 20 listings, occupancy 51.8 percent, stay 4.8 nights, June 2025 through May 2026. The.compare pageexists for this sentence.

A lender who wants one Northland rent roll for two satellites is asking you to invent a year. Refuse, and file the extract that matches the deed. If the parcel is Smithville, distillery dollars do not travel. If the parcel is Weston, you are not on this page. Adjacent is adjacent, and average is a costume. RevPAR here is $124. That is the cash-flow desk, not a blended county story. Liberty is $36,204 on 55 listings, August 2025 through July 2026. Parkville is $32,166 on 27 listings, and Keep those too.

Tourism copy will try to help the blend, and the reservoir is not a Weston stay. Mc Cormick Distilling is not this occupancy, and the.tourism pagekeeps visitor landscape off the note, and use it. A buyer packet that cannot hold two Missouri desks apart cannot hold DSCR. $32,889 stays on this cell, and occupancy here is 51.8 percent. Weston prints 42.2 percent on 18 listings, and those are different occupancies. Stay here is 4.8 nights, and lead here is 30 days. None of those travel with a distillery deed.

Rob Does Not Close the Field

Smithville year over year is plus 8.5 percent on the June 2025 through May 2026 vintage. Supply is plus 11.1 percent, and file both moves. Do not hide the up year behind the reservoir. Do not hide the supply jump behind the dam. Twenty listings is still a tiny sample. Plus 8.5 and plus 11.1 belong in the packet the first time a lender asks.

Peak-3 is still March, December, and April, and peak month is still March. November is still the hole. February and September still sit in the low stretch. An up year does not rewrite the calendar into leftover harvest. It also does not license a monthly cut, and three listings are set thirty-plus. Stay is 4.8 nights, and the.shoulder pageis how you price the months the extract named. The note should use the same months. December is a peak month, not a leftover hard stop. This is not a ski town.

Professionally managed share is 50.0 percent, and superhost share is 85.0 percent. Entire-home share is 95 percent. Those shares describe who already operates through this vintage. They do not describe a forever climb. If a broker memo wants a forever-up narrative, ask for the next extract, not a costume. $32,889 is the year on this file, and plus 8.5 percent is how it moved. Plus 11.1 percent is how supply moved, and all three go in the packet. ADR is $238, and occupancy is 51.8 percent, and revPAR is $124. Do not file only the year and hide the swing.

Chapter 625 Sits With a City Parcel

Rob is on this market sample, and eleven listings. Gross on those eleven listings is $435,044, and professionally managed share is 50.0 percent. That is a manager desk on 20 listings, not a closed field. Rank leftover that invents Vacasa, Avant Stay, or Evolve is wrong here. Rank leftover that says no national PM and independent operators only is wrong at the 50 percent line. Keep Rob. Leave out unverified a national footprint the page does not show. A buyer who treats eleven managed listings as a reason to walk is underwriting a logo, not a year. Weston is 22.2 percent professionally managed on 18 listings. That is a different town.

A buyer who treats those eleven listings as proof the note will fill is also wrong. Occupancy is still 51.8 percent, and typical year is still $32,889. Stay is still 4.8 nights, and rob does not rewrite November. Rob does not rewrite city hall. Independent hosts still hold the other half of the gallery. Superhost share is 85.0 percent, and entire-home share is 95 percent. Those shares describe a field you can still enter if the driveway, the hall, and the extract match. Eleven listings is not a closed door, and means one listing still moves the percent.

Do not underwrite a brand premium the extract does not print. File Rob as a competitor, not as occupancy and not as a closed door.remote pagealready refused the costume monthly cut. The note should refuse a costume brand story too. $32,889 stays the year, and 20 listings stays the sample. Peak-3 is still March, December, and April, and november is still the hole.

Superhost Share Is 85.0 Percent

City of Smithville hall is 107 West Main Street, Smithville, MO 64089,. Clerk is Linda Drummond. STR permits go to the Development Department at the same hall. Start at. Chapter 625 is the city file inside city limits. Responsible agent required, and occupation license number on every advertisement. Liability insurance at or above $500,000, and per-unit annual permit, inspection, fee $50. Noise management plan with continuous monitoring while rented, and confirm 2026 Chapter 625.080 text at the clerk. Leave out unverified a new cap from a packet filename.

A lake house outside city limits is a different town. Clay County clerk is Stacey Tingle, 1 Courthouse Square, Liberty, MO 64068,. USACE at the Jerry Litton Visitor Center, 16311 County Road DD,, is visitor landscape, not a clerk's office. Thestartup pageprices the hall path first, and do that before you price furniture. Do that before you price DSCR. A note that cannot name 107 West Main Street is not ready. Therules pageis the ordinance walk, and theclerks pageis that hall list.

Bring the parcel map, the extract showing $32,889 on 20 listings, and the city-line walk as a cross-link, not a blend. Ask remittance, and ask the agent line. Ask which side of the city line owns the driveway. The hall is not occupancy, and it is the path. Walk the door that matches the deed before you bid. Stay is 4.8 nights, and lead is 30 days. Confirm remittance, and then underwrite this year.

Occupancy Near 51.8 Percent Is a Real Overnight

Occupancy is 51.8 percent. Near 50 percent this close to Kansas City is a real overnight signal, not a day-use artifact. Keep that honesty test on the new numbers, and typical year is $32,889. ADR is $238, and revPAR is $124, and stay is 4.8 nights. those offices describe people sleeping here, not people launching and driving home the same afternoon. Do not talk yourself out of the overnight because leftover copy treated commuter lakes as day use. Do not talk yourself into a gold mine because 51.8 percent looks sturdy on 20 listings.

Do not treat 51.8 percent as proof the note will climb. Supply is plus 11.1 percent, and year over year is plus 8.5 percent. File both. A buyer who reads 51.8 percent as a filled year is reading occupancy, not the calendar. Peak-3 is still March, December, and April, and november is still the hole. Three listings already set thirty-plus, and those settings are not filled months.guest pagealready named who drove. The packet should name them too: family lake weekend, Kansas City drive. Not a blend distillery tourist.

Do not borrow Liberty $36,204 or Parkville $32,166 to make 51.8 percent look richer or poorer. Keep those cells, and this cell stays $32,889, and revPAR is $124, and aDR is $238. Professionally managed share is 50.0 percent, and superhost share is 85.0 percent. Entire-home share is 95 percent, and those are reservoir desks on a commuter lake. A lender who wants 51.8 percent to mean a corridor T12 is asking you to invent a year. Refuse, and 20 listings travel with the deed.

What a Buyer Packet Should Carry

Carry $32,889, 20 listings, ADR $238, occupancy 51.8 percent, RevPAR $124, stay 4.8 nights, lead 30 days, professionally managed 50.0 percent, superhost 85.0 percent, entire-home 95 percent, three thirty-plus settings, year over year plus 8.5 percent, supply plus 11.1 percent, peak-3 March December April, November hole, Rob on eleven of twenty. Carry city hall at 107 West Main Street, and carry Chapter 625 as diligence, not occupancy. Carry the reservoir as demand, not T12. Carry Rob as eleven listings, not a closed field.

Do not carry Weston $47,063, and do not carry Liberty $36,204. Do not carry Parkville $32,166, and do not carry a leftover $30,491 snapshot. Do not carry a leftover monthly cut. Do not carry Mc Cormick Distilling or a Kansas City skyline as this neighborhood. Leave out unverified a Kearney year, and the.tourism pagecan sit as visitor landscape. It cannot sit on the roll. TheDIY pagecan sit as the manager share. It cannot mint T12.

If the packet still files this cell as Kansas City, send the address back. Underwrite the reservoir on the deed. About 30 minutes north of Kansas City is the drive. $32,889 is the year, and 20 listings is the sample. One listing moves every percent, and one hall if you are inside city. a different town if you are not, and confirm remittance. Confirm the driveway is Smithville, not a blend, and stay 4.8 nights. Lead 30 days, and three thirty-plus settings. Before you bid, send the parcel, and we will not mint a Northland T12.

Frequently Asked Questions

What revenue figure should I use to underwrite a Smithville rental?

Use $32,889, the typical annual revenue across 20 active Smithville listings for the June 2025 through May 2026 vintage (AirROI). That period shows a $238 average nightly rate, 51.8 percent occupancy, and $124 revenue per available night. Bring this town-specific figure and vintage window to a lender rather than a Kansas City-area average.

Why shouldn't I blend Weston's numbers into a Smithville deal?

Weston published $47,063 in typical revenue with a $350 average nightly rate and 42.2 percent occupancy, but on a different vintage window (May 2025 through April 2026) than Smithville's. Beyond the vintage mismatch, they're separate towns with separate ordinances. Keep Smithville's $32,889 on its own labeled line rather than averaging in a higher neighboring figure.

How should I read Smithville's 8.5 percent year-over-year revenue growth?

It's a real one-year gain on this sample, worth noting in a buyer packet, but treat it as one data point rather than a guaranteed trend given the sample size. With only 20 listings, a single new or departing listing can move the town average meaningfully, so stress-test the deal at a more conservative figure before financing against it.

Does 11.1 percent supply growth signal an oversupplied Smithville market?

Not on its own. Revenue still grew 8.5 percent alongside the added supply, which suggests demand kept pace rather than getting diluted across more listings. It's worth watching if supply keeps outpacing revenue growth in future years, but this year's numbers don't show a market that's tipped into oversupply.

What percentage of Smithville listings are professionally managed?

About half, 50.0 percent, are professionally managed, a notably higher share than Weston's 22.2 percent. Because the Smithville sample is only 20 listings, that professionally managed share can swing meaningfully if even one or two listings change management, so confirm current management status on any specific comp property rather than assuming the town average holds.

What does Chapter 625 mean for a Smithville short-term rental purchase?

Local ordinance Chapter 625.080 governs short-term rentals, and current text should be confirmed directly at Smithville City Hall, 107 West Main Street, before you close. Don't rely on a cap or fee figure pulled from a filename or secondhand summary; confirm the actual 2026 ordinance language with the clerk's office.

Who do I contact for county-level short-term rental questions near Smithville?

Smithville sits in Clay County, where the county clerk is Stacey Tingle at 1 Courthouse Square, Liberty, MO 64068. Confirm whether any county-level registration applies in addition to the city's Chapter 625 requirements, since city and county rules can layer on top of each other.

Does Smithville's proximity to Kansas City affect how I should market the property?

Smithville sits roughly 30 minutes north of Kansas City via I-29 and MO-92, which supports a family lake-weekend and Kansas City day-trip demand base. Market and price the property as its own Smithville listing rather than filing it under a generic "Kansas City" search term, since guests searching for the two are looking for different experiences.

Work with Crest & Cove Creative

A Smithville listing that leans on generic 'Kansas City getaway' copy skips the reservoir and the 7,190-acre draw guests actually search for. Jerry Litton Visitor Center and the lake, not a downtown KC pitch, are what fill this calendar.

We rebuild Smithville listing copy and photos around the reservoir and the visitor center crowd this town actually draws. That's a lake-specific rewrite, not a generic Kansas City suburb pitch pulled from a template.

Reach out at crestcove.co or (256) 998-7502.