765 Main St · Morrison, MO 65061

$153,000

3 bd · 1.0 ba · 896 sqft · SingleFamily public records · 6 Days on market

Built 1900 0.66 ac lot

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Why this score? — see what drove the D- 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).

• Appreciation +8.3/10.0
• Cash flow +7.9/30.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• 1% rule +1.2/10.0

Listing remarks

Welcome to 765 Main Street in Morrison, MO - a charming property located just a short drive from the historic town of Hermann. This inviting 3-bedroom, 1-bath home offers small-town living with thoughtful outdoor spaces and plenty of room for hobbies, gardening, and storage. The property features a spacious 2-door detached shop, perfect for a workshop, vehicles, or extra storage, along with two additional small garden sheds for all your outdoor needs. Enjoy the beauty of established landscaping with mature flowerbeds and established asparagus plants ready to welcome each growing season. Whether you're looking for a peaceful place to call home, room to pursue your favorite hobbies, or a prop

Key facts

• Garden sheds
• Mature flowerbeds
• Detached shop

Tags

• OUTDOOR SPACES
• DETACHED SHOP
• GARDEN SHEDS
• ESTABLISHED LANDSCAPING
• MATURE FLOWERBEDS
• ASPARAGUS PLANTS

Property features AI

Finance

• Other: Living area reported as 1,227 (source: other); Lot size ~0.66 acres (public records)
• Financial info: Lease not considered; No home warranty indicated; No second mortgage indicated

Exterior

• Parking: 2-car garage
• Utilities: Electric: Other; Sewer: Unknown; Water information not specified
• Home design: Single family residence; Residential property; One and one-half stories; Entry level information not specified; Facing direction not specified
• Construction: Vinyl siding; Basement (year built source: see remarks)
• Exterior features: Storage; Back yard; Adjoins wooded area

Interior

• Kitchen: Microwave; Oven; Refrigerator; Kitchen facilities
• Bedrooms: 3 bedrooms total (1 on the main level, 2 on the upper level)
• Bathrooms: 1 full bathroom (located on main/upper levels)
• Heating & cooling: Other heating; Central air; Wall/window unit(s) for cooling
• Interior features: Interior entry basement; Basement storage; Unfinished basement with walk-out access; Lighting; Ramp; Storage

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $153k.

Deal economics

• At list price, monthly cash flow is $-164 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (19.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $95k (37.6% below list).
• Recommended offer: $95k (37.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 53/100 on livability (#834 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Osage County R-I (rural): math 45% / reading 40% proficiency, ranked #242 of 535 in MO (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Osage Co. Elem. (math 24% / reading 24%, grade F, #879 of 1,115 statewide, top 81%, 72 students, 58% FRL); Chamois High (math 50% / reading 70%, grade C+, #35 of 521 statewide, top 8%, 68 students, 44% FRL).
• Market conditions: 6 active listings in the ZIP; 5 units permitted in Gasconade County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($1k loan paydown + $10k appreciation (6.6% local appreciation)).
• Gasconade County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $95,401 (37.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.62% ✗
• Cap rate: 5.00%
• Cash-on-cash: -4.60%
• DSCR: 0.80
• GRM: 13.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.62% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.2%
• Equity multiple: 1.92×
• Total profit: $39,298
• Equity at exit: $102,200

10-year hold

• IRR: 13.6%
• Equity multiple: 3.86×
• Total profit: $122,361
• Equity at exit: $190,765

Cash invested: $42,840 (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 65061

• Home prices YoY: 3.4%
• Active inventory: 6
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $954 medium
• Mortgage (P&I): −$802
• Tax from tax record: −$52 /mo · $622/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $-164

Break-even live

Break-even rent $1,162

Max offer price $123,982

Occupancy floor —

Sensitivity live

Price	-10% $-78	-5% $-121	+0% $-164	+5% $-208	+10% $-251
Rent	-10% $-240	-5% $-202	+0% $-164	+5% $-127	+10% $-89
Rate	-1.0pp $-87	-0.5pp $-125	base $-164	+0.5pp $-204	+1.0pp $-244

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: $38,250
• Closing costs: $4,590
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-21
   days on market $153,000 Active 6 DOM
2. 2026-06-21
   days on market $153,000 Active 5 DOM
3. 2026-06-18
   days on market $153,000 Active 3 DOM
4. 2026-06-17
   days on market $153,000 Active 2 DOM
5. 2026-06-16
   remarks 699-char remark
6. 2026-06-16
   listed $153,000 Active 1 DOM

ⓘ 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: $622 · $52/mo
• Projected year-2 tax: $1,484 · $124/mo
• Expected delta: +$862/yr (+$72/mo · 138.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $11,448
• − Mortgage interest: −$8,570
• − Property taxes: −$622
• − Insurance: −$765
• − Repairs & maintenance: −$916
• − Management: −$916
• − Depreciation: −$4,451
• Taxable loss: −$4,792
• Est. tax savings @ 24.0%: +$1,150
• After-tax cash flow: $-821/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: Osage County R-I
• NCES district ID: 2908490
• Math proficiency: 45% ▲ 10.00%
• Reading proficiency: 40% ▬ 0.00%
• Median HH income: $47,365
• Composite: 38.65/100
• National rank: #8411
• State rank: #242 of 535 in MO

Livability — Morrison

• Score: 53/100
• State rank: #834
• US rank: #24607

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: Morrison, MO
• Population (ZIP): 620

Population outlook (Gasconade County) Hauer SSP2

• Today (2025): 14,190 people
• By 2030: 13,687 · -3.5%
• By 2040: 12,480 · -12.1%
• By 2050: 11,227 · -20.9%
• By 2075: 8,878 · -37.4%
• By 2100: 6,570 · -53.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Pacific Islander 5% Two or more races 3%
• Common ancestry: Romanian 3% Lithuanian 1% Italian 1%
• Languages at home: 97% English-only · German/W. Germanic 2% Spanish 1%

Political lean MEDSL · Gasconade

• 2024 margin: Solid R (+60.2) · D 19.4% · R 79.7%
• 2008→2024 swing: -36.2pp toward R · 2008: -24.0pp · 2024: -60.2pp
• All cycles: 2024: R+60.2 2020: R+58.3 2016: R+55.8 2012: R+39.2 2008: R+24.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.62%
• Current HPI: 202.2157
• 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

1 event — show timeline

• 2026-06-15 Listed $153,000 MARIS as Distributed by MLS Grid

Property tax history

+2.1%/yr

Latest (2025): $622 · +2.7% YoY. Source: county tax records.