204 Madison St · Macon, MO 63552

$40,000

1 bd · 1.0 ba · 994 sqft · Other public records · 28 Days on market

Built 1900 1,873 sqft lot

---

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 +4.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NICE STARTER OR RENTAL HAS NICE 2 CARAGE WITH ELEC AND CONCRETE FLOOR

Key facts

• 1,873 sq ft lot
• Garage
• Built 1900

Property features AI

Finance

• Other: Living area reported as 994 (owner provided)

Exterior

• Parking: Attached garage (1 car)
• Utilities: Electric service: Other
• Home design: Single-family residence; Residential property; One story
• Construction: Construction materials: see remarks
• Exterior features: Small lot (approximately 0.043 acres)

Interior

• Bedrooms: 4 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: No heating specified; Cooling: Other
• Interior features: One-level layout

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $40k.

Deal economics

• At list price, monthly cash flow is $434 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($871 rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#151 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: amenities F, commute F, employment F.
• Macon County R-I (town): math 49% / reading 50% proficiency, ranked #54 of 324 in MO (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 46 active listings in the ZIP; 26 units permitted in Macon County in 2024 (19 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Macon County population projected at -17% 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 $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $10k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $39,400 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 2.18% ✓
• Cap rate: 19.30%
• Cash-on-cash: 46.47%
• DSCR: 3.07
• GRM: 3.8

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: 43.7%
• Equity multiple: 2.89×
• Total profit: $21,141
• Equity at exit: $5,964

10-year hold

• IRR: 49.7%
• Equity multiple: 5.82×
• Total profit: $53,977
• Equity at exit: $3,458

Cash invested: $11,200 (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 63552

• Home prices YoY: -10.9%
• Active inventory: 46
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $871 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$28 /mo · $332/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$183
• Net cashflow: $434

Break-even live

Break-even rent $322

Max offer price $40,000

Occupancy floor 45%

Sensitivity live

Price	-10% $456	-5% $445	+0% $434	+5% $422	+10% $411
Rent	-10% $365	-5% $399	+0% $434	+5% $468	+10% $502
Rate	-1.0pp $454	-0.5pp $444	base $434	+0.5pp $423	+1.0pp $413

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-04
   days on market $40,000 Active 28 DOM
2. 2026-06-02
   days on market $40,000 Active 27 DOM
3. 2026-06-01
   days on market $40,000 Active 26 DOM
4. 2026-05-31
   days on market $40,000 Active 25 DOM
5. 2026-05-06
   listed $50,000 Active 392-char remark
6. 2026-01-10
   historical
7. 2026-01-02
   price $60,000
8. 2025-12-18
   listed $125,000 Active
9. 2025-12-11
   historical
10. 2017-04-24
    soldstatus
11. 2017-04-22
    soldstatus

    Show marketing remark (69 chars)

    NICE STARTER OR RENTAL HAS NICE 2 CARAGE WITH ELEC AND CONCRETE FLOOR

12. 2016-10-11
    listed $29,900

    Show marketing remark (69 chars)

    NICE STARTER OR RENTAL HAS NICE 2 CARAGE WITH ELEC AND CONCRETE FLOOR

ⓘ 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: $332 · $28/mo
• Projected year-2 tax: $388 · $32/mo
• Expected delta: +$56/yr (+$5/mo · 16.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,448
• − Mortgage interest: −$2,241
• − Property taxes: −$332
• − Insurance: −$200
• − Repairs & maintenance: −$836
• − Management: −$836
• − Depreciation: −$1,164
• Taxable income: $4,840
• Est. tax owed @ 24.0%: −$1,162
• After-tax cash flow: $4,043/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: Macon County R-I
• NCES district ID: 2919410
• Math proficiency: 49% ▼ -4.00%
• Reading proficiency: 50% ▲ 1.00%
• Median HH income: $37,850
• Composite: 41.21/100
• National rank: #3539
• State rank: #54 of 324 in MO

Livability — Macon

• Score: 69/100
• State rank: #151
• US rank: #8551

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Macon, MO
• Population (ZIP): 7,383

Population outlook (Macon County) Hauer SSP2

• Today (2025): 14,692 people
• By 2030: 14,209 · -3.3%
• By 2040: 13,197 · -10.2%
• By 2050: 12,160 · -17.2%
• By 2075: 9,745 · -33.7%
• By 2100: 7,314 · -50.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Black 3% Hispanic / Latino 2%
• Common ancestry: Greek 2% Italian 2% Slovak 2%
• Foreign-born: 1% · China, Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Macon

• 2024 margin: Solid R (+61.5) · D 18.9% · R 80.4%
• 2008→2024 swing: -37.4pp toward R · 2008: -24.1pp · 2024: -61.5pp
• All cycles: 2024: R+61.5 2020: R+56.3 2016: R+56.4 2012: R+33.4 2008: R+24.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -21.49%
• Current HPI: 175.8958
• 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

+33.8% since first listed

9 events — show timeline

• 2026-05-28 Price Changed $40,000 MARIS as Distributed by MLS Grid
• 2026-05-06 Listed $50,000 MARIS as Distributed by MLS Grid
• 2026-01-10 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2026-01-02 Price Changed $60,000 Heartland MLS as Distributed by MLS Grid
• 2025-12-18 Listed $125,000 Heartland MLS as Distributed by MLS Grid
• 2025-12-11 Coming Soon — Heartland MLS as Distributed by MLS Grid
• 2017-04-24 Sold (Public Records) — Public Records
• 2017-04-22 Sold (MLS) — NECAR
• 2016-10-11 Listed $29,900 NECAR

Property tax history

+2.8%/yr

Latest (2025): $332 · +9.2% YoY. Source: county tax records.