103 N Cherry N · Middletown, MO 63384

$103,000

2 bd · 1.0 ba · 957 sqft · Other public records · 445 Days on market

Built 1900 0.33 ac lot

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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 +16.7/30.0
• ARV discount +7.5/15.0
• Appreciation +6.9/10.0
• DSCR +5.2/10.0
• 1% rule +3.5/10.0
• Schools +3.0/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to this beautiful country style farmhouse home. Postcard perfect !! This 3 bedroom 1 bath house boasts tall ceilings and old time country charm. Beautiful wood trim and stairway are true to the era of when this home was built. Picket white fence surrounds mature seasonal flowers and plants. Detached 2 car oversized garage with work room and half bath and an additional carport.

Key facts

• 0.33 acre lot
• 2 garage spots
• Listed 444 days

Property features AI

Exterior

• Parking: 3 parking spaces total; Detached 2-car garage; Covered parking; 1-car carport; Off-street and RV access/parking
• Security: Security lights
• Utilities: Public water; Public sewer; Electric service
• Home design: Single-family residence; One and one-half levels; Private ownership
• Construction: Wood siding with cedar; Cellar basement
• Exterior features: Shed(s); Gravel road access; Lot roughly 120 x 120

Interior

• Kitchen: Eat-in kitchen; Kitchen/dining room combo
• Bedrooms: 3 bedrooms total (1 on the main level, 2 on the upper level)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Heat pump heating; Electric heating; Heat pump cooling
• Interior features: Primary bedroom on the main level; Kitchen/dining room combo; Eat-in kitchen; Gas water heater
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $103k.

Deal economics

• At list price, monthly cash flow is $65 ($780/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 $88k (15.0% below list).
• Recommended offer: $88k (15.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 53/100 on livability (#823 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Wellsville Middletown R-I (rural): math 25% / reading 40% proficiency, ranked #433 of 535 in MO (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wellsville-Middletown Elem. (math 37% / reading 27%, grade F, #761 of 1,115 statewide, top 72%, 148 students, 60% FRL); Wellsville-Middletown Hs (math 37% / reading 42%, grade F, #247 of 521 statewide, top 55%, 163 students, 53% FRL).
• Market conditions: 9 active listings in the ZIP; 47 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($712 loan paydown + $4k appreciation (3.9% local appreciation)).
• Montgomery County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 445 days — a 12% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,599 (15.0% below list)

Questions for the listing agent

1. It's been on market 445 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 0.85% ✗
• Cap rate: 7.05%
• Cash-on-cash: 2.70%
• DSCR: 1.12
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.85% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.3%
• Equity multiple: 1.73×
• Total profit: $21,191
• Equity at exit: $51,295

10-year hold

• IRR: 13.8%
• Equity multiple: 3.22×
• Total profit: $64,014
• Equity at exit: $83,166

Cash invested: $28,840 (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 63384

• Home prices YoY: 2.8%
• Active inventory: 9
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $876 medium
• Mortgage (P&I): −$540
• Tax from tax record: −$44 /mo · $528/yr
• Insurance: −$43
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $65

Break-even live

Break-even rent $794

Max offer price $103,000

Occupancy floor 88%

Sensitivity live

Price	-10% $123	-5% $94	+0% $65	+5% $36	+10% $7
Rent	-10% $-4	-5% $30	+0% $65	+5% $100	+10% $134
Rate	-1.0pp $117	-0.5pp $91	base $65	+0.5pp $38	+1.0pp $11

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: $25,750
• Closing costs: $3,090
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-22
   days on market $103,000 Active 445 DOM
2. 2026-06-21
   days on market $103,000 Active 444 DOM
3. 2026-06-21
   days on market $103,000 Active 443 DOM
4. 2026-06-18
   days on market $103,000 Active 441 DOM
5. 2026-06-17
   days on market $103,000 Active 440 DOM
6. 2026-06-16
   days on market $103,000 Active 439 DOM
7. 2026-06-15
   days on market $103,000 Active 438 DOM
8. 2026-06-13
   days on market $103,000 Active 436 DOM
9. 2026-06-12
   days on market $103,000 Active 435 DOM
10. 2026-06-09
    days on market $103,000 Active 432 DOM
11. 2026-06-08
    days on market $103,000 Active 431 DOM
12. 2026-06-07
    days on market $103,000 Active 430 DOM
13. 2026-06-05
    days on market $103,000 Active 428 DOM
14. 2026-06-04
    days on market $103,000 Active 426 DOM
15. 2026-06-02
    days on market $103,000 Active 425 DOM
16. 2026-06-01
    days on market $103,000 Active 424 DOM
17. 2026-05-31
    days on market $103,000 Active 423 DOM
18. 2025-08-05
    listed $103,000 Active
19. 2025-07-29
    price $103,000
20. 2025-07-29
    status Active
21. 2025-06-03
    status Pending
22. 2025-05-13
    price $108,000
23. 2025-02-07
    price $110,000
24. 2025-02-07
    listed $100,000 Active

ⓘ 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: $528 · $44/mo
• Projected year-2 tax: $999 · $83/mo
• Expected delta: +$471/yr (+$39/mo · 89.3%)

ⓘ 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 ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,512
• − Mortgage interest: −$5,770
• − Property taxes: −$528
• − Insurance: −$515
• − Repairs & maintenance: −$841
• − Management: −$841
• − Depreciation: −$2,996
• Taxable loss: −$979
• Est. tax savings @ 24.0%: +$235
• After-tax cash flow: $1,015/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: Wellsville Middletown R-I
• NCES district ID: 2931620
• Math proficiency: 25% ▼ -15.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $38,226
• Composite: 29.86/100
• National rank: #11693
• State rank: #433 of 535 in MO

Livability — Middletown

• Score: 53/100
• State rank: #823
• US rank: #24464

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Middletown, MO
• Population (ZIP): 2,148

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 10,582 people
• By 2030: 9,897 · -6.5%
• By 2040: 8,556 · -19.1%
• By 2050: 7,293 · -31.1%
• By 2075: 4,998 · -52.8%
• By 2100: 3,204 · -69.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 6%
• Common ancestry: Slovak 3%
• Languages at home: 97% English-only · German/W. Germanic 2% French/Haitian/Cajun 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+60.1) · D 19.5% · R 79.7%
• 2008→2024 swing: -41.7pp toward R · 2008: -18.5pp · 2024: -60.1pp
• All cycles: 2024: R+60.1 2020: R+56.4 2016: R+55.4 2012: R+33.0 2008: R+18.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.85%
• Current HPI: 143.7565
• Rent YoY: —
• Metro: —
• 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

+3.0% since first listed

7 events — show timeline

• 2025-08-05 Listed $103,000 MARIS as Distributed by MLS Grid
• 2025-07-29 Price Changed $103,000 MARIS as Distributed by MLS Grid
• 2025-07-29 Relisted — MARIS as Distributed by MLS Grid
• 2025-06-03 Pending — MARIS as Distributed by MLS Grid
• 2025-05-13 Price Changed $108,000 MARIS as Distributed by MLS Grid
• 2025-02-07 Price Changed $110,000 MARIS as Distributed by MLS Grid
• 2025-02-07 Listed $100,000 MARIS as Distributed by MLS Grid

Property tax history

+3.0%/yr

Latest (2025): $528 · +8.0% YoY. Source: county tax records.