Police found the 46-year-old suffering from a gunshot wound outside the residence around 3:30 p.m. Smith was later pronounced dead at a local hospital.
Police say they received info that a suspect in the case left the area on foot and then boarded a city bus, which was stopped at 18th Street and Holmes, and the suspect was taken into custody (no name has been released).
The investigation is ongoing.
Charges were also announced in another, unrelated homicide from Wednesday.
Lamont Kemp is charged with second-degree murder in the death of his girlfriend, Laquita Long.
Kemp, 42, allegedly called Kansas City Police and said that he'd beaten Long to death around 7 a.m. in the 7400 block of College.
Long's body was found in a basement. Authorities believe she died from blunt force trauma.
Kemp told detectives that he'd heard Long was "messing around on him," so he confronted her. He then told detectives that he no longer wanted to talk to them.
The KCPD's latest homicide analysis says KCMO's homicide total is at 60 for 2012.