1789 County Road 226 · Alton, MO 65606

$104,900

3 bd · 1.0 ba · 1,200 sqft · SingleFamily · 158 Days on market

Built 2021 Poor condition 20 ac lot $87/sqft · 75% above area

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Why this score? — see what drove the C 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 +19.7/30.0
• ARV discount +7.5/15.0
• Appreciation +7.3/10.0
• DSCR +6.2/10.0
• 1% rule +5.2/10.0
• Livability +3.1/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks MLS

Tucked away in the heart of the Ozarks, this 3 bedroom 1 bath fixer upper sits on 20 secluded acres + offers a rare opportunity to create your own private retreat. Perfect for those seeking off the grid living, or a quiet escape from everyday. Located near Eleven point river & Mark Twain National Forest, outdoor recreation is right at your doorstep. If you've been searching for acreage, privacy, and potential in a prime ozarks location, this property is ready to be transformed into something truly special

Key facts

• Acreage
• Outdoor recreation
• Off the grid living

Tags

• SECLUDED ACRES
• PRIVATE RETREAT
• OFF THE GRID LIVING
• OUTDOOR RECREATION
• ACREAGE
• PRIME OZARKS LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $122 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 4.2% in Alton — 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 61/100 on livability (#441 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: commute D, schools F, crime F.
• Couch R-I (rural): math 25% / reading 35% proficiency, ranked #472 of 535 in MO (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 59 active listings in the ZIP; 5 units permitted in Oregon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($725 loan paydown + $5k appreciation (4.6% local appreciation)).
• Oregon County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 158 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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.

Recommended offer $92,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 158 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. 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 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?
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: 1.02% ✓
• Cap rate: 7.69%
• Cash-on-cash: 4.99%
• DSCR: 1.22
• GRM: 8.2

CMA / ARV

• ARV (median comp): $59,900
• List price: $104,900
• Delta: 75.13%
• Verdict: OVERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

4.62% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.2%
• Equity multiple: 2.01×
• Total profit: $29,715
• Equity at exit: $57,050

10-year hold

• IRR: 16.8%
• Equity multiple: 3.87×
• Total profit: $84,271
• Equity at exit: $96,534

Cash invested: $29,372 (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 65606

• Home prices YoY: 3.4%
• Active inventory: 59
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,072 medium
• Mortgage (P&I): −$550
• Tax est. 1.5%: −$131 /mo · $1,574/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $122

Break-even live

Break-even rent $918

Max offer price $104,900

Occupancy floor 84%

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $104,900 Active 158 DOM
2. 2026-06-17
   days on market $104,900 Active 157 DOM
3. 2026-06-16
   days on market $104,900 Active 156 DOM
4. 2026-06-15
   days on market $104,900 Active 155 DOM
5. 2026-06-13
   days on market $104,900 Active 153 DOM
6. 2026-06-12
   days on market $104,900 Active 152 DOM
7. 2026-06-09
   days on market $104,900 Active 149 DOM
8. 2026-06-08
   days on market $104,900 Active 148 DOM
9. 2026-06-07
   days on market $104,900 Active 147 DOM
10. 2026-06-05
    days on market $104,900 Active 145 DOM
11. 2026-06-04
    days on market $104,900 Active 143 DOM
12. 2026-06-02
    days on market $104,900 Active 142 DOM
13. 2026-06-01
    days on market $104,900 Active 141 DOM
14. 2026-05-31
    days on market $104,900 Active 140 DOM
15. 2026-05-06
    status Active 516-char remark

    Show marketing remark (516 chars)

    Tucked away in the heart of the Ozarks, this 3 bedroom 1 bath fixer upper sits on 20 secluded acres + offers a rare opportunity to create your own private retreat. Perfect for those seeking off the grid living, or a quiet escape from everyday. Located near Eleven point river & Mark Twain National Forest, outdoor recreation is right at your doorstep. If you've been searching for acreage, privacy, and potential in a prime ozarks location, this property is ready to be transformed into something truly special

16. 2026-05-06
    price $104,900 516-char remark

    Show marketing remark (516 chars)

    Tucked away in the heart of the Ozarks, this 3 bedroom 1 bath fixer upper sits on 20 secluded acres + offers a rare opportunity to create your own private retreat. Perfect for those seeking off the grid living, or a quiet escape from everyday. Located near Eleven point river & Mark Twain National Forest, outdoor recreation is right at your doorstep. If you've been searching for acreage, privacy, and potential in a prime ozarks location, this property is ready to be transformed into something truly special

17. 2026-01-08
    listed $109,900 Active 516-char remark

    Show marketing remark (516 chars)

    Tucked away in the heart of the Ozarks, this 3 bedroom 1 bath fixer upper sits on 20 secluded acres + offers a rare opportunity to create your own private retreat. Perfect for those seeking off the grid living, or a quiet escape from everyday. Located near Eleven point river & Mark Twain National Forest, outdoor recreation is right at your doorstep. If you've been searching for acreage, privacy, and potential in a prime ozarks location, this property is ready to be transformed into something truly special

18. 2022-02-16
    soldstatus 1399-char remark

    Show marketing remark (1399 chars)

    If living in the Ozarks in the middle of your own place is what you have been dreaming of, then look no further! This 3 bed / 1 bath home has a great start and is dried in. It just needs your finishing touches. Home has a wide hallway for ease of travel and boasts a large living area, perfect for entertaining friends and family in the Ozark foothills. New well drilled recently to 221 ft. with static water sitting at 58 ft. with a rate of 25 GPM. Lagoon also newly dug and connected to the main line of the house. Property would be great for off-grid living. No restrictions would make it easy to move an RV while you finish your house, if that is what you want to do. Property has a large cleared area for your yard. The land has been surveyed. Deer will abound on the property if hunting is what you're looking for. The land lays very well and would easily be clearable if grazing ground is what you are seeking. Property sits about 10 minutes from the town of Alton, MO and about 35-40 minutes from West Plains, MO. The Mark Twain National Forest, Spring River and Eleven Point River are just short drives away! If living in the country in the middle of your own place is what you've been dreaming of, don't miss your opportunity to live the dream and be able to create your stamp while finishing your house. Motivated seller. Property is currently Pending, but seller will take backup offers.

19. 2021-10-28
    listed $99,900 1399-char remark

    Show marketing remark (1399 chars)

    If living in the Ozarks in the middle of your own place is what you have been dreaming of, then look no further! This 3 bed / 1 bath home has a great start and is dried in. It just needs your finishing touches. Home has a wide hallway for ease of travel and boasts a large living area, perfect for entertaining friends and family in the Ozark foothills. New well drilled recently to 221 ft. with static water sitting at 58 ft. with a rate of 25 GPM. Lagoon also newly dug and connected to the main line of the house. Property would be great for off-grid living. No restrictions would make it easy to move an RV while you finish your house, if that is what you want to do. Property has a large cleared area for your yard. The land has been surveyed. Deer will abound on the property if hunting is what you're looking for. The land lays very well and would easily be clearable if grazing ground is what you are seeking. Property sits about 10 minutes from the town of Alton, MO and about 35-40 minutes from West Plains, MO. The Mark Twain National Forest, Spring River and Eleven Point River are just short drives away! If living in the country in the middle of your own place is what you've been dreaming of, don't miss your opportunity to live the dream and be able to create your stamp while finishing your house. Motivated seller. Property is currently Pending, but seller will take backup offers.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $12,865
• − Mortgage interest: −$5,876
• − Property taxes: −$1,574
• − Insurance: −$524
• − Repairs & maintenance: −$1,029
• − Management: −$1,029
• − Depreciation: −$3,052
• Taxable loss: −$219
• Est. tax savings @ 24.0%: +$52
• After-tax cash flow: $1,517/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 landscaping, kitchen and bathroom updates, and interior finishing. The current state is not move-in ready and lacks curb appeal.

Repairs flagged

• Major Landscaping — Overgrown vegetation needs trimming
• Major Exterior siding — Overgrown vegetation needs trimming
• Major Kitchen appliances — Exposed framing, no appliances
• Major Bathroom fixtures — Exposed framing, no fixtures
• Major Flooring — Exposed subfloor
• Major Interior walls — Exposed drywall
• Major Systems — Exposed plumbing and electrical

Value-add opportunities

• Both Landscaping and exterior improvements — Enhances curb appeal and property value
• Both Kitchen appliances — Improves functionality and appeal
• Both Bathroom fixtures — Enhances functionality and appeal
• Both Flooring — Improves functionality and appeal
• Both Interior walls — Improves functionality and appeal
• Both Systems — Improves functionality and appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · Overgrown vegetation needs trimming	Major	$15,000–50,000
Exterior siding · Overgrown vegetation needs trimming	Major	$15,000–50,000
Kitchen appliances · Exposed framing, no appliances	Major	$15,000–50,000
Bathroom fixtures · Exposed framing, no fixtures	Major	$15,000–50,000
Flooring · Exposed subfloor	Major	$15,000–50,000
Interior walls · Exposed drywall	Major	$15,000–50,000
Systems · Exposed plumbing and electrical	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both Landscaping and exterior improvements — Enhances curb appeal and property value ↑
• Both Kitchen appliances — Improves functionality and appeal ↑
• Both Bathroom fixtures — Enhances functionality and appeal ↑
• Both Flooring — Improves functionality and appeal ↑
• Both Interior walls — Improves functionality and appeal ↑
• Both Systems — Improves functionality and appeal ↑

ⓘ 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: Couch R-I
• NCES district ID: 2910200
• Math proficiency: 25% ▼ -20.00%
• Reading proficiency: 35% ▼ -10.00%
• Median HH income: $31,094
• Composite: 27.21/100
• National rank: #12452
• State rank: #472 of 535 in MO

Livability — Alton

• Score: 61/100
• State rank: #441
• US rank: #18027

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,540

Population outlook (Oregon County) Hauer SSP2

• Today (2025): 10,607 people
• By 2030: 10,352 · -2.4%
• By 2040: 9,829 · -7.3%
• By 2050: 9,286 · -12.5%
• By 2075: 8,392 · -20.9%
• By 2100: 7,136 · -32.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Portuguese 3% Lithuanian 2% Slovak 1%
• Foreign-born: 1% · Vietnam
• Languages at home: 97% English-only · Arabic 2% Spanish 1% Vietnamese 1%

Political lean MEDSL · Oregon

• 2024 margin: Solid R (+69.1) · D 15.1% · R 84.2%
• 2008→2024 swing: -50.8pp toward R · 2008: -18.3pp · 2024: -69.1pp
• All cycles: 2024: R+69.1 2020: R+63.8 2016: R+60.1 2012: R+33.2 2008: R+18.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.62%
• Current HPI: 142.0523
• 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

+5.0% since first listed

5 events — show timeline

• 2026-05-06 Relisted — SOMO
• 2026-05-06 Price Changed $104,900 SOMO
• 2026-01-08 Listed $109,900 SOMO
• 2022-02-16 Sold (MLS) — SOMO
• 2021-10-28 Listed $99,900 SOMO