135 E Locust St · Aurora, MO 65605

$60,000

3 bd · 1.0 ba · 1,344 sqft · Other public records · 85 Days on market

Built 1902 0.25 ac lot $45/sqft · 57% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +2.8/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention investors! This home offers a prime opportunity: a three-bedroom, one-bath home on an expansive lot close to downtown. The lcoation is Zoned M2 meaning it can be used for anything (Commercial, residential, multifamily, or manudacturing!). The property has a brand-new roof, some new windows, and the downtown proximity means endless potential with the growing downtown community--whether for rentals, a flip, future resale value, or Commercial use. Don't miss this investment oppertunity!

Key facts

• Expansive lot
• Brand-new roof
• Downtown proximity

Tags

• EXPANSIVE LOT
• BRAND-NEW ROOF
• NEW WINDOWS
• DOWNTOWN PROXIMITY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $60k.

Deal economics

• At list price, monthly cash flow is $372 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($950 rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.7% vs local median 3.9% in Aurora — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 56/100 on livability (#710 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools D-, crime F, amenities F.
• Aurora R-VIII (town): math 30% / reading 37% proficiency, ranked #244 of 324 in MO (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 137 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 67 units permitted in Lawrence County in 2024 (35 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lawrence County population projected at -15% 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 $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $56,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1902 — 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 D-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: 1.58% ✓
• Cap rate: 13.73%
• Cash-on-cash: 26.56%
• DSCR: 2.18
• GRM: 5.3

CMA / ARV

• ARV (median comp): $137,102
• List price: $60,000
• Delta: -56.24%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 20.4%
• Equity multiple: 1.83×
• Total profit: $13,951
• Equity at exit: $8,946

10-year hold

• IRR: 28.6%
• Equity multiple: 3.54×
• Total profit: $42,609
• Equity at exit: $5,188

Cash invested: $16,800 (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 65605

• Home prices YoY: -4.5%
• Active inventory: 137
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $950 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$39 /mo · $468/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $372

Break-even live

Break-even rent $479

Max offer price $60,000

Occupancy floor 56%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
221 N Park Ave Unit B Aurora, MO	2.0	1.0	1000	$950	$0.95	14d	1	0.33mi
730 E Springfield St Aurora, MO	2.0	1.0	900	$950	$1.06	23d	1	0.68mi

Listing history 21 events

1. 2026-06-18
   days on market $60,000 Active 85 DOM
2. 2026-06-17
   days on market $60,000 Active 84 DOM
3. 2026-06-16
   days on market $60,000 Active 83 DOM
4. 2026-06-15
   days on market $60,000 Active 82 DOM
5. 2026-06-13
   pricedays on market $60,000 Active 80 DOM
6. 2026-06-12
   days on market $65,000 Active 79 DOM
7. 2026-06-09
   days on market $65,000 Active 76 DOM
8. 2026-06-08
   days on market $65,000 Active 75 DOM
9. 2026-06-07
   days on market $65,000 Active 74 DOM
10. 2026-06-07
    days on market $65,000 Active 73 DOM
11. 2026-06-04
    days on market $65,000 Active 70 DOM
12. 2026-06-02
    days on market $65,000 Active 69 DOM
13. 2026-06-01
    days on market $65,000 Active 68 DOM
14. 2026-05-31
    days on market $65,000 Active 67 DOM
15. 2026-05-31
    days on market $65,000 Active 66 DOM
16. 2026-03-25
    listed $65,000 Active 499-char remark

    Show marketing remark (499 chars)

    Attention investors! This home offers a prime opportunity: a three-bedroom, one-bath home on an expansive lot close to downtown. The lcoation is Zoned M2 meaning it can be used for anything (Commercial, residential, multifamily, or manudacturing!). The property has a brand-new roof, some new windows, and the downtown proximity means endless potential with the growing downtown community--whether for rentals, a flip, future resale value, or Commercial use. Don't miss this investment oppertunity!

17. 2025-08-04
    soldstatus
18. 2025-08-01
    soldstatus Closed 1286-char remark

    Show marketing remark (1286 chars)

    3-bedroom, 1-bathroom home featuring 1,344 square feet of possibilities waiting to unfold. This diamond in the rough offers tremendous renovation potential for those with vision and creativity. Whether you're a first-time buyer ready to put your personal stamp on a property or an investor seeking rental income opportunities, this house delivers both charm and promise. The property sits on a commercial lot, opening doors to unique business possibilities while maintaining residential appeal. Located in Aurora's heart, you'll enjoy convenient access to local amenities including nearby grocery shopping and parks just minutes away. The junior high school is easily accessible, making this an ideal location for families. This home invites you to imagine the transformation potential within its walls. The layout provides flexibility for modern living while honoring classic architectural elements. The single bathroom offers efficiency, and the three bedrooms provide ample space for family life or rental opportunities. Aurora's downtown attractions are practically at your doorstep, with The Garden Exchange offering green space for outdoor enjoyment. The location combines small-town charm with practical conveniences, creating an environment where community connections flourish.

19. 2025-07-22
    status Pending 1286-char remark

    Show marketing remark (1286 chars)

    3-bedroom, 1-bathroom home featuring 1,344 square feet of possibilities waiting to unfold. This diamond in the rough offers tremendous renovation potential for those with vision and creativity. Whether you're a first-time buyer ready to put your personal stamp on a property or an investor seeking rental income opportunities, this house delivers both charm and promise. The property sits on a commercial lot, opening doors to unique business possibilities while maintaining residential appeal. Located in Aurora's heart, you'll enjoy convenient access to local amenities including nearby grocery shopping and parks just minutes away. The junior high school is easily accessible, making this an ideal location for families. This home invites you to imagine the transformation potential within its walls. The layout provides flexibility for modern living while honoring classic architectural elements. The single bathroom offers efficiency, and the three bedrooms provide ample space for family life or rental opportunities. Aurora's downtown attractions are practically at your doorstep, with The Garden Exchange offering green space for outdoor enjoyment. The location combines small-town charm with practical conveniences, creating an environment where community connections flourish.

20. 2025-07-21
    listed $29,000 Active 1286-char remark

    Show marketing remark (1286 chars)

    3-bedroom, 1-bathroom home featuring 1,344 square feet of possibilities waiting to unfold. This diamond in the rough offers tremendous renovation potential for those with vision and creativity. Whether you're a first-time buyer ready to put your personal stamp on a property or an investor seeking rental income opportunities, this house delivers both charm and promise. The property sits on a commercial lot, opening doors to unique business possibilities while maintaining residential appeal. Located in Aurora's heart, you'll enjoy convenient access to local amenities including nearby grocery shopping and parks just minutes away. The junior high school is easily accessible, making this an ideal location for families. This home invites you to imagine the transformation potential within its walls. The layout provides flexibility for modern living while honoring classic architectural elements. The single bathroom offers efficiency, and the three bedrooms provide ample space for family life or rental opportunities. Aurora's downtown attractions are practically at your doorstep, with The Garden Exchange offering green space for outdoor enjoyment. The location combines small-town charm with practical conveniences, creating an environment where community connections flourish.

21. 2018-01-29
    soldstatus

ⓘ 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: $468 · $39/mo
• Projected year-2 tax: $582 · $48/mo
• Expected delta: +$114/yr (+$9/mo · 24.2%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥105°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: $11,400
• − Mortgage interest: −$3,361
• − Property taxes: −$468
• − Insurance: −$300
• − Repairs & maintenance: −$912
• − Management: −$912
• − Depreciation: −$1,745
• Taxable income: $3,701
• Est. tax owed @ 24.0%: −$888
• After-tax cash flow: $3,573/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: Aurora R-VIII
• NCES district ID: 2904020
• Math proficiency: 30% ▼ -5.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $37,036
• Composite: 27.84/100
• National rank: #6883
• State rank: #244 of 324 in MO

Livability — Aurora

• Score: 56/100
• State rank: #710
• US rank: #22927

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Aurora, MO
• Population (ZIP): 11,611

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 37,142 people
• By 2030: 36,212 · -2.5%
• By 2040: 34,080 · -8.2%
• By 2050: 31,621 · -14.9%
• By 2075: 25,987 · -30.0%
• By 2100: 20,151 · -45.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 8% Hispanic / Latino 5%
• Common ancestry: Iranian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1% Korean 1%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+63.8) · D 17.6% · R 81.5%
• 2008→2024 swing: -26.8pp toward R · 2008: -37.1pp · 2024: -63.8pp
• All cycles: 2024: R+63.8 2020: R+62.6 2016: R+61.1 2012: R+47.0 2008: R+37.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -12.62%
• Current HPI: 267.2335
• 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

+124.1% since first listed

6 events — show timeline

• 2026-03-25 Listed $65,000 SOMO
• 2025-08-04 Sold (Public Records) — Public Records
• 2025-08-01 Sold (MLS) — SOMO
• 2025-07-22 Pending — SOMO
• 2025-07-21 Listed $29,000 SOMO
• 2018-01-29 Sold (Public Records) — Public Records

Property tax history

+1.0%/yr

Latest (2025): $468 · +8.0% YoY. Source: county tax records.