105 N Allen St · Annapolis, MO 63620

$125,000

2 bd · 2.6 ba · 1,696 sqft · MultiFamily · 277 Days on market

Built 1998 Average condition 2,178 sqft lot ↓ 17% since listing

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• Schools +2.9/10.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 5 units. estimate disagrees with records

Listing remarks MLS

Multi Unit Investment Property! This versatile property offers 4 unique rental units, ideal for investors or owner/occupants seeking income potential. Unit A-1 bed/1bath, approx. 504 sq ft, featuring an eat in kitchen. Unit B-1bed/1bath Studio Style approx. 280 sq ft. Newly remodeled. Unit C-Hotel Style-1bed/ 1bath only additional space could be added to this room . Unit D-1bed/bath approx. 504 sq ft with eat in kitchen. Each unit offers its own character, with functional layouts and desirable features. Efficient use of space make these units attractive to a wide range of tenants. Whether you are expanding your portfolio or starting fresh, this property provides rental income potential.

Key facts

• 2,178 sq ft lot
• Built 1998
• Listed 276 days

What this means for you Summary

Snapshot

• This is a 4×1.0bd/1.0ba + 1×?bd/0.2ba units multifamily listed at $125k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $412/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 50/100 on livability (#905 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• South Iron County R-I (rural): math 30% / reading 35% proficiency, ranked #443 of 535 in MO (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 39 active listings in the ZIP; 6 units permitted in Iron County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($864 loan paydown + $6k appreciation (5.1% local appreciation)).
• Iron County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.1% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 277 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago 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

• Climate carrying-cost: extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 277 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
8. 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.
9. 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.
10. 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: 2.96% ✓
• Cap rate: 26.05%
• Cash-on-cash: 70.55%
• DSCR: 4.14
• GRM: 2.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.07% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 77.0%
• Equity multiple: 5.58×
• Total profit: $160,432
• Equity at exit: $71,387

10-year hold

• IRR: 75.0%
• Equity multiple: 11.62×
• Total profit: $371,579
• Equity at exit: $123,662

Cash invested: $35,000 (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 63620

• Home prices YoY: 3.4%
• Active inventory: 39
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $3,698 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$777
• Net cashflow: $2,058

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 39%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1.0	1	$2,956
1× unit	0	0.2	$743
Total (5 units)			$3,698

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $125,000 Active 277 DOM
2. 2026-06-17
   days on market $125,000 Active 276 DOM
3. 2026-06-16
   days on market $125,000 Active 275 DOM
4. 2026-06-15
   days on market $125,000 Active 274 DOM
5. 2026-06-13
   days on market $125,000 Active 272 DOM
6. 2026-06-12
   days on market $125,000 Active 271 DOM
7. 2026-06-09
   days on market $125,000 Active 268 DOM
8. 2026-06-08
   days on market $125,000 Active 267 DOM
9. 2026-06-07
   days on market $125,000 Active 266 DOM
10. 2026-06-07
    days on market $125,000 Active 265 DOM
11. 2026-06-04
    days on market $125,000 Active 262 DOM
12. 2026-06-02
    days on market $125,000 Active 261 DOM
13. 2026-06-01
    days on market $125,000 Active 260 DOM
14. 2026-05-31
    days on market $125,000 Active 259 DOM
15. 2025-11-21
    price $125,000 702-char remark

    Show marketing remark (702 chars)

    Multi Unit Investment Property! This versatile property offers 4 unique rental units, ideal for investors or owner/occupants seeking income potential. Unit A-1 bed/1bath, approx. 504 sq ft, featuring an eat in kitchen. Unit B-1bed/1bath Studio Style approx. 280 sq ft. Newly remodeled. Unit C-Hotel Style-1bed/ 1bath only additional space could be added to this room . Unit D-1bed/bath approx. 504 sq ft with eat in kitchen. Each unit offers its own character, with functional layouts and desirable features. Efficient use of space make these units attractive to a wide range of tenants. Whether you are expanding your portfolio or starting fresh, this property provides rental income potential.

16. 2025-09-14
    listed $129,900 Active 702-char remark

    Show marketing remark (702 chars)

    Multi Unit Investment Property! This versatile property offers 4 unique rental units, ideal for investors or owner/occupants seeking income potential. Unit A-1 bed/1bath, approx. 504 sq ft, featuring an eat in kitchen. Unit B-1bed/1bath Studio Style approx. 280 sq ft. Newly remodeled. Unit C-Hotel Style-1bed/ 1bath only additional space could be added to this room . Unit D-1bed/bath approx. 504 sq ft with eat in kitchen. Each unit offers its own character, with functional layouts and desirable features. Efficient use of space make these units attractive to a wide range of tenants. Whether you are expanding your portfolio or starting fresh, this property provides rental income potential.

17. 2025-09-14
    historical $129,900 702-char remark

    Show marketing remark (702 chars)

    Multi Unit Investment Property! This versatile property offers 4 unique rental units, ideal for investors or owner/occupants seeking income potential. Unit A-1 bed/1bath, approx. 504 sq ft, featuring an eat in kitchen. Unit B-1bed/1bath Studio Style approx. 280 sq ft. Newly remodeled. Unit C-Hotel Style-1bed/ 1bath only additional space could be added to this room . Unit D-1bed/bath approx. 504 sq ft with eat in kitchen. Each unit offers its own character, with functional layouts and desirable features. Efficient use of space make these units attractive to a wide range of tenants. Whether you are expanding your portfolio or starting fresh, this property provides rental income potential.

18. 2024-10-31
    historical
19. 2024-08-22
    price $131,900
20. 2024-06-12
    status Active
21. 2024-05-31
    historical
22. 2024-05-24
    price $136,900
23. 2023-09-07
    status Active
24. 2023-08-14
    historical Active Under Contract
25. 2023-07-02
    price $139,900
26. 2023-04-02
    listed $149,900 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 23 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $44,376
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$3,550
• − Management: −$3,550
• − Depreciation: −$3,636
• Taxable income: $24,138
• Est. tax owed @ 24.0%: −$5,793
• After-tax cash flow: $18,898/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 · 12 photos

Average 55/100 Moderate rehab

This multi-family property requires moderate repairs and maintenance to improve its condition and increase its resale and rental value.

Repairs flagged

• Major roof — visible wear
• Major HVAC/mechanicals — portable air conditioner

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value
• Both repair roof — improves home's condition and extends life
• Both replace HVAC system — increases comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · visible wear	Major	$15,000–50,000
HVAC/mechanicals · portable air conditioner	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both paint exterior — enhances curb appeal and resale value ↑
• Both repair roof — improves home's condition and extends life ↑
• Both replace HVAC system — increases comfort and energy efficiency ↑

ⓘ 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: South Iron County R-I
• NCES district ID: 2928470
• Math proficiency: 30% ▼ -5.00%
• Reading proficiency: 35% ▼ -5.00%
• Median HH income: $32,320
• Composite: 29.31/100
• National rank: #11838
• State rank: #443 of 535 in MO

Livability — Annapolis

• Score: 50/100
• State rank: #905
• US rank: #25607

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: Annapolis, MO
• Population (ZIP): 1,142

Population outlook (Iron County) Hauer SSP2

• Today (2025): 9,245 people
• By 2030: 8,745 · -5.4%
• By 2040: 7,808 · -15.5%
• By 2050: 6,944 · -24.9%
• By 2075: 5,320 · -42.5%
• By 2100: 4,245 · -54.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Hispanic / Latino 3% Black 1%
• Common ancestry: Romanian 2% Serbian 2% Italian 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Iron

• 2024 margin: Solid R (+62.4) · D 18.2% · R 80.7% · Other 1.1%
• 2008→2024 swing: -65.2pp toward R · 2008: 2.8pp · 2024: -62.4pp
• All cycles: 2024: R+62.4 2020: R+57.7 2016: R+52.6 2012: R+14.5 2008: D+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.07%
• Current HPI: 152.6846
• 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

-16.6% since first listed

12 events — show timeline

• 2025-11-21 Price Changed $125,000 MARIS as Distributed by MLS Grid
• 2025-09-14 Listed $129,900 MARIS as Distributed by MLS Grid
• 2025-09-14 Coming Soon $129,900 MARIS as Distributed by MLS Grid
• 2024-10-31 Delisted — MARIS as Distributed by MLS Grid
• 2024-08-22 Price Changed $131,900 MARIS as Distributed by MLS Grid
• 2024-06-12 Relisted — MARIS as Distributed by MLS Grid
• 2024-05-31 Delisted — MARIS as Distributed by MLS Grid
• 2024-05-24 Price Changed $136,900 MARIS as Distributed by MLS Grid
• 2023-09-07 Relisted — MARIS as Distributed by MLS Grid
• 2023-08-14 Contingent — MARIS as Distributed by MLS Grid
• 2023-07-02 Price Changed $139,900 MARIS as Distributed by MLS Grid
• 2023-04-02 Listed $149,900 MARIS as Distributed by MLS Grid