29253 Des Moines St · Wayland, MO 63472

$155,000

4 bd · 2.0 ba · 2,246 sqft · MultiFamily · 49 Days on market

Built 1900 Good condition 3,920 sqft lot

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Why this score? — see what drove the B 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 +29.4/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Condition / age +4.0/5.0
• Schools +2.6/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0

Multi-family units

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

Listing remarks

Brick building apartments right in the heart of Wayland, Missouri that date back into the 1900s! Each unit is 2,246 square feet with a single level. One unit is 3-bedrooms and 1-bath while the other is 2-bedroom and -1-bath. They were recently renovated with all new drywall, laminate flooring, cabinets, stove, refrigerator, bathroom, and new heating and air in one unit! Both apartments offer finished kitchens and living rooms for comfortable living and dining! Electric heating and air in Apartment B and natural gas furnace in Apartment A. Both apartments are currently rented and are move-in-ready without lifting a finger! Don't miss out on this beautiful investment property!

Key facts

• Move-in-ready
• Finished kitchens
• Brick building

Tags

• BRICK BUILDING
• RECENTLY RENOVATED
• FINISHED KITCHENS
• FINISHED LIVING ROOMS
• MOVE-IN-READY

Property features AI

Finance

• Other: Private ownership
• Financial info: All units leased (2 of 2)

Exterior

• Parking: No garage; On-street parking
• Utilities: Public water; Sewer connected; Natural gas connected; Electricity connected (220 volts available)
• Home design: Residential income property; 2–4 unit property (two units); Apartment building / multi-family (single building)
• Construction: Brick and concrete construction; Concrete roof
• Exterior features: City lot; Asphalt road frontage on a city street

Interior

• Kitchen: Electric cooktop; Electric oven; Refrigerator
• Bedrooms: One 3-bedroom unit; One 2-bedroom unit
• Flooring: Laminate flooring
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Updated/remodeled condition; Electric water heater
• Laundry & utility: 220-volt electric service

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $155k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $551 ($7k/yr) — positive. Per door: $275/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $150k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 52/100 on livability (#868 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Clark County R-I (rural): math 29% / reading 32% proficiency, ranked #268 of 324 in MO (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Black Hawk Elem. (math 32% / reading 27%, grade F, #813 of 1,115 statewide, top 75%, 365 students, 56% FRL); Clark Co. High (math 27% / reading 42%, grade F, #321 of 521 statewide, top 67%, 308 students, 46% FRL).
• Market conditions: 1 active listings in the ZIP; 2 units permitted in Clark County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Clark County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 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 $150,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.32% ✓
• Cap rate: 10.56%
• Cash-on-cash: 15.23%
• DSCR: 1.68
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 21.8%
• Equity multiple: 2.24×
• Total profit: $53,777
• Equity at exit: $69,695

10-year hold

• IRR: 22.8%
• Equity multiple: 4.28×
• Total profit: $142,354
• Equity at exit: $107,408

Cash invested: $43,400 (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 63472

• Active inventory: 1
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $2,053 medium
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $551

Break-even live

Break-even rent $1,356

Max offer price $155,000

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$994
1× unit	3	1	$1,059
Total (2 units)			$2,053

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $155,000 Active 49 DOM
2. 2026-06-17
   days on market $155,000 Active 48 DOM
3. 2026-06-16
   days on market $155,000 Active 47 DOM
4. 2026-06-15
   days on market $155,000 Active 46 DOM
5. 2026-06-13
   days on market $155,000 Active 44 DOM
6. 2026-06-12
   days on market $155,000 Active 43 DOM
7. 2026-06-09
   days on market $155,000 Active 40 DOM
8. 2026-06-08
   days on market $155,000 Active 39 DOM
9. 2026-06-07
   days on market $155,000 Active 38 DOM
10. 2026-06-04
    days on market $155,000 Active 34 DOM
11. 2026-06-02
    days on market $155,000 Active 33 DOM
12. 2026-06-01
    days on market $155,000 Active 32 DOM
13. 2026-05-31
    days on market $155,000 Active 31 DOM
14. 2026-04-30
    status Active 685-char remark
15. 2026-04-29
    listed $155,000 Active 685-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,636
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$775
• − Repairs & maintenance: −$1,971
• − Management: −$1,971
• − Depreciation: −$4,509
• Taxable income: $4,403
• Est. tax owed @ 24.0%: −$1,057
• After-tax cash flow: $5,552/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This multi-family property is in good condition with recent renovations, making it move-in ready and suitable for both resale and rental purposes.

Value-add opportunities

• Both Painting the exterior brick — Enhances curb appeal and can increase both resale and rental value.
• Both Landscaping the front yard — Improves curb appeal and can increase both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior brick — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Landscaping the front yard — Improves curb appeal and can increase both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Clark County R-I
• NCES district ID: 2916380
• Math proficiency: 29% ▼ -8.00%
• Reading proficiency: 32% ▼ -11.00%
• Median HH income: $41,836
• Composite: 25.83/100
• National rank: #7355
• State rank: #268 of 324 in MO

Livability — Wayland

• Score: 52/100
• State rank: #868
• US rank: #25122

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wayland, MO
• Population (ZIP): 472

Population outlook (Clark County) Hauer SSP2

• Today (2025): 6,211 people
• By 2030: 5,858 · -5.7%
• By 2040: 5,211 · -16.1%
• By 2050: 4,620 · -25.6%
• By 2075: 3,595 · -42.1%
• By 2100: 2,927 · -52.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Iranian 2%

Political lean MEDSL · Clark

• 2024 margin: Solid R (+61.5) · D 18.8% · R 80.4%
• 2008→2024 swing: -55.5pp toward R · 2008: -6.1pp · 2024: -61.5pp
• All cycles: 2024: R+61.5 2020: R+58.8 2016: R+52.3 2012: R+10.3 2008: R+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

2 events — show timeline

• 2026-04-30 Relisted — MARIS as Distributed by MLS Grid
• 2026-04-29 Listed $155,000 MARIS as Distributed by MLS Grid