313 E 3rd St · Altamont, MO 64620

$35,000

3 bd · 1.0 ba · 939 sqft · SingleFamily · 156 Days on market

Built 1900 Poor condition 0.32 ac lot $37/sqft · 18% above area Est $30k · 18% over ↓ 30% since listing

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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
• Appreciation +7.8/10.0
• Schools +4.0/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Ideal for investors looking to renovate, reposition, or add to their portfolio! This 3-bedroom, 1-bathroom home sits on a spacious 3-in-1 lot and presents an excellent value-add opportunity, with an estimated ARV of $175,000–$200,000. The seller is continuing cleanup efforts, providing ample space to bring your outdoor vision to life. Inside, original wood floors and vaulted ceilings in select rooms add character and upside potential throughout. With the right vision and updates, this property is ready to be restored and transformed into something special!

Key facts

• Spacious 3-in-1 lot
• Original wood floors
• Vaulted ceilings

Tags

• SPACIOUS 3-IN-1 LOT
• ORIGINAL WOOD FLOORS
• VAULTED CEILINGS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $35k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $472 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($903 rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 54/100 on livability (#769 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Gallatin R-V (rural): math 47% / reading 48% proficiency, ranked #66 of 324 in MO (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 35 active listings in the ZIP.

Forward outlook

• In year one you build about $2k of equity ($242 loan paydown + $2k appreciation (5.5% local appreciation)).
• Daviess County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.5% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $30,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 2.58% ✓
• Cap rate: 22.46%
• Cash-on-cash: 57.75%
• DSCR: 3.57
• GRM: 3.2

CMA / ARV

• ARV (median comp): $29,565
• List price: $35,000
• Delta: 18.38%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

5.53% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 65.4%
• Equity multiple: 5.00×
• Total profit: $39,193
• Equity at exit: $20,977

10-year hold

• IRR: 62.8%
• Equity multiple: 10.40×
• Total profit: $92,074
• Equity at exit: $37,187

Cash invested: $9,800 (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 64620

• Home prices YoY: 4.6%
• Active inventory: 35
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $903 medium
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$190
• Net cashflow: $472

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 43%

Sensitivity live

Price	-10% $496	-5% $484	+0% $472	+5% $460	+10% $447
Rent	-10% $400	-5% $436	+0% $472	+5% $507	+10% $543
Rate	-1.0pp $489	-0.5pp $481	base $472	+0.5pp $463	+1.0pp $453

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $35,000 Active 156 DOM
2. 2026-06-21
   days on market $35,000 Active 155 DOM
3. 2026-06-18
   days on market $35,000 Active 153 DOM
4. 2026-06-17
   days on market $35,000 Active 152 DOM
5. 2026-06-16
   days on market $35,000 Active 151 DOM
6. 2026-06-15
   days on market $35,000 Active 150 DOM
7. 2026-06-13
   days on market $35,000 Active 148 DOM
8. 2026-06-12
   days on market $35,000 Active 147 DOM
9. 2026-06-09
   days on market $35,000 Active 144 DOM
10. 2026-06-08
    days on market $35,000 Active 143 DOM
11. 2026-06-07
    days on market $35,000 Active 142 DOM
12. 2026-06-05
    days on market $35,000 Active 140 DOM
13. 2026-06-04
    days on market $35,000 Active 138 DOM
14. 2026-06-02
    days on market $35,000 Active 137 DOM
15. 2026-06-01
    days on market $35,000 Active 136 DOM
16. 2026-05-31
    days on market $35,000 Active 135 DOM
17. 2026-02-24
    price $35,000 568-char remark

    Show marketing remark (568 chars)

    Ideal for investors looking to renovate, reposition, or add to their portfolio! This 3-bedroom, 1-bathroom home sits on a spacious 3-in-1 lot and presents an excellent value-add opportunity, with an estimated ARV of $175,000–$200,000. The seller is continuing cleanup efforts, providing ample space to bring your outdoor vision to life. Inside, original wood floors and vaulted ceilings in select rooms add character and upside potential throughout. With the right vision and updates, this property is ready to be restored and transformed into something special!

18. 2026-02-02
    price $45,000 568-char remark

    Show marketing remark (568 chars)

    Ideal for investors looking to renovate, reposition, or add to their portfolio! This 3-bedroom, 1-bathroom home sits on a spacious 3-in-1 lot and presents an excellent value-add opportunity, with an estimated ARV of $175,000–$200,000. The seller is continuing cleanup efforts, providing ample space to bring your outdoor vision to life. Inside, original wood floors and vaulted ceilings in select rooms add character and upside potential throughout. With the right vision and updates, this property is ready to be restored and transformed into something special!

19. 2026-01-16
    listed $50,000 Active 568-char remark

    Show marketing remark (568 chars)

    Ideal for investors looking to renovate, reposition, or add to their portfolio! This 3-bedroom, 1-bathroom home sits on a spacious 3-in-1 lot and presents an excellent value-add opportunity, with an estimated ARV of $175,000–$200,000. The seller is continuing cleanup efforts, providing ample space to bring your outdoor vision to life. Inside, original wood floors and vaulted ceilings in select rooms add character and upside potential throughout. With the right vision and updates, this property is ready to be restored and transformed into something special!

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,838
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$867
• − Management: −$867
• − Depreciation: −$1,018
• Taxable income: $5,425
• Est. tax owed @ 24.0%: −$1,302
• After-tax cash flow: $4,357/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

Poor 20/100 Extensive rehab

This property requires extensive renovations, including a new roof, exterior, flooring, and landscaping. It presents a significant opportunity for investors to create a move-in-ready home with high resale and rental potential.

Repairs flagged

• Major roof — Tarp covering the house.
• Major exterior — Tarp covering the house.
• Major flooring — Worn-out wood flooring.
• Major interior walls/paint — Painted walls with visible wear.
• Major landscaping — Overgrown yard and debris around the house.

Value-add opportunities

• Resale Paint the walls — Fresh paint can make a significant difference in the home's appearance.
• Resale Replace the flooring — New flooring can improve the home's overall look and feel.
• Both Clean up the yard — A well-maintained yard can increase both resale and rental value.
• Resale Replace the roof — A new roof can significantly increase the home's value.
• Resale Replace the exterior — A new exterior can make the home more appealing to potential buyers.
• Rental Replace the flooring — New flooring can make the home more appealing to renters.
• Rental Paint the walls — Fresh paint can make the home more appealing to renters.
• Rental Clean up the yard — A well-maintained yard can increase rental value.
• Rental Replace the roof — A new roof can significantly increase the home's rental value.
• Rental Replace the exterior — A new exterior can make the home more appealing to renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Tarp covering the house.	Major	$15,000–50,000
exterior · Tarp covering the house.	Major	$15,000–50,000
flooring · Worn-out wood flooring.	Major	$15,000–50,000
interior walls/paint · Painted walls with visible wear.	Major	$15,000–50,000
landscaping · Overgrown yard and debris around the house.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Resale Paint the walls — Fresh paint can make a significant difference in the home's appearance. ↑
• Resale Replace the flooring — New flooring can improve the home's overall look and feel. ↑
• Both Clean up the yard — A well-maintained yard can increase both resale and rental value. ↑
• Resale Replace the roof — A new roof can significantly increase the home's value. ↑
• Resale Replace the exterior — A new exterior can make the home more appealing to potential buyers. ↑
• Rental Replace the flooring — New flooring can make the home more appealing to renters. ↑
• Rental Paint the walls — Fresh paint can make the home more appealing to renters. ↑
• Rental Clean up the yard — A well-maintained yard can increase rental value. ↑
• Rental Replace the roof — A new roof can significantly increase the home's rental value. ↑
• Rental Replace the exterior — A new exterior can make the home more appealing to renters. ↑

ⓘ 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: Gallatin R-V
• NCES district ID: 2912660
• Math proficiency: 47% ▲ 10.00%
• Reading proficiency: 48% ▲ 6.00%
• Median HH income: $42,284
• Composite: 39.98/100
• National rank: #3832
• State rank: #66 of 324 in MO

Livability — Altamont

• Score: 54/100
• State rank: #769
• US rank: #23732

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Altamont, MO
• Population (ZIP): 568

Population outlook (Daviess County) Hauer SSP2

• Today (2025): 7,695 people
• By 2030: 7,386 · -4.0%
• By 2040: 6,860 · -10.9%
• By 2050: 6,375 · -17.2%
• By 2075: 5,084 · -33.9%
• By 2100: 3,583 · -53.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Romanian 1% Serbian 1% Iranian 1%

Political lean MEDSL · Daviess

• 2024 margin: Solid R (+63.3) · D 17.9% · R 81.2%
• 2008→2024 swing: -40.5pp toward R · 2008: -22.8pp · 2024: -63.3pp
• All cycles: 2024: R+63.3 2020: R+60.2 2016: R+55.1 2012: R+33.0 2008: R+22.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.53%
• Current HPI: 126.4405
• 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

-30.0% since first listed

3 events — show timeline

• 2026-02-24 Price Changed $35,000 Heartland MLS as Distributed by MLS Grid
• 2026-02-02 Price Changed $45,000 Heartland MLS as Distributed by MLS Grid
• 2026-01-16 Listed $50,000 Heartland MLS as Distributed by MLS Grid