715 Spruce St · Piedmont, MO 63957

$74,900

4 bd · 2.0 ba · 1,200 sqft · MultiFamily · 92 Days on market

Built 1940 Poor condition 7,840 sqft lot

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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 +7.9/10.0
• ARV discount +7.5/15.0
• Schools +2.7/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Investment Opportunity – Duplex with Strong Income Potential Great opportunity to add to your rental portfolio! This duplex features two spacious 2-bedroom units, each offering approximately 916 sq ft of living space. Each unit currently rents for $400/month Total current income: $800/month Well-sized layouts with solid rental potential. Even better, the seller also has 3 additional duplexes available and is willing to offer a package deal for all properties, making this an excellent opportunity for investors looking to scale quickly. Don’t miss your chance to secure multiple income-producing properties in one deal!

Key facts

• 7,840 sq ft lot
• Built 1940
• Listed 91 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $75k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $663 ($8k/yr) — positive. Per door: $331/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $68k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.0% vs local median 4.3% in Piedmont — 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 52/100 on livability (#854 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Clearwater R-I (rural): math 33% / reading 33% proficiency, ranked #255 of 324 in MO (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 69 active listings in the ZIP.

Forward outlook

• In year one you build about $5k of equity ($518 loan paydown + $4k appreciation (5.9% local appreciation)).
• Wayne County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($68k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,159 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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.
12. 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.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.11% ✓
• Cap rate: 17.97%
• Cash-on-cash: 41.71%
• DSCR: 2.86
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.89% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 47.7%
• Equity multiple: 4.02×
• Total profit: $63,416
• Equity at exit: $46,583

10-year hold

• IRR: 44.8%
• Equity multiple: 8.33×
• Total profit: $153,747
• Equity at exit: $84,046

Cash invested: $20,972 (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 63957

• Home prices YoY: 3.7%
• Active inventory: 69
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,578 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,124/yr
• Insurance: −$31
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $663

Break-even live

Break-even rent $739

Max offer price $74,900

Occupancy floor 53%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,578
Total (2 units)			$1,578

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $74,900 Active 92 DOM
2. 2026-06-17
   days on market $74,900 Active 91 DOM
3. 2026-06-16
   days on market $74,900 Active 90 DOM
4. 2026-06-15
   days on market $74,900 Active 89 DOM
5. 2026-06-13
   days on market $74,900 Active 87 DOM
6. 2026-06-12
   days on market $74,900 Active 86 DOM
7. 2026-06-09
   days on market $74,900 Active 83 DOM
8. 2026-06-08
   days on market $74,900 Active 82 DOM
9. 2026-06-07
   days on market $74,900 Active 81 DOM
10. 2026-06-07
    days on market $74,900 Active 80 DOM
11. 2026-06-04
    days on market $74,900 Active 77 DOM
12. 2026-06-02
    days on market $74,900 Active 76 DOM
13. 2026-06-01
    days on market $74,900 Active 75 DOM
14. 2026-05-31
    days on market $74,900 Active 74 DOM
15. 2026-03-18
    listed $74,900 Active 635-char remark

    Show marketing remark (635 chars)

    Investment Opportunity – Duplex with Strong Income Potential Great opportunity to add to your rental portfolio! This duplex features two spacious 2-bedroom units, each offering approximately 916 sq ft of living space. Each unit currently rents for $400/month Total current income: $800/month Well-sized layouts with solid rental potential. Even better, the seller also has 3 additional duplexes available and is willing to offer a package deal for all properties, making this an excellent opportunity for investors looking to scale quickly. Don’t miss your chance to secure multiple income-producing properties in one deal!

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $18,936
• − Mortgage interest: −$4,196
• − Property taxes: −$1,124
• − Insurance: −$1,172
• − Repairs & maintenance: −$1,515
• − Management: −$1,515
• − Depreciation: −$2,179
• Taxable income: $7,236
• Est. tax owed @ 24.0%: −$1,737
• After-tax cash flow: $6,214/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 · 7 photos

Poor 20/100 Extensive rehab

This property is in poor condition with significant repairs and maintenance needed, including a new roof, exterior siding, landscaping, and windows and doors. Immediate action is required to improve the property's value and attract buyers and renters.

Repairs flagged

• Major roof — The roof appears to be in poor condition with visible damage and possible leaks.
• Major exterior siding — The exterior siding is peeling and in poor condition, with visible damage and discoloration.
• Major landscaping — The landscaping is overgrown and unkempt, with debris and trash scattered around the property.
• Major fencing — The fencing is in poor condition and appears to be falling apart.
• Major windows — The windows are broken and need immediate repair.
• Major doors — The doors are missing and need immediate repair.

Value-add opportunities

• Both repair and replace roof — A new roof will significantly improve the property's appearance and functionality, attracting more buyers and renters.
• Both repair and replace exterior siding — A new exterior siding will improve the property's appearance and functionality, attracting more buyers and renters.
• Both landscaping and debris removal — A well-maintained and aesthetically pleasing landscape will improve the property's curb appeal and attract more buyers and renters.
• Both repair and replace windows and doors — New windows and doors will improve the property's functionality and appearance, attracting more buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition with visible damage and possible leaks.	Major	$15,000–50,000
exterior siding · The exterior siding is peeling and in poor condition, with visible damage and discoloration.	Major	$15,000–50,000
landscaping · The landscaping is overgrown and unkempt, with debris and trash scattered around the property.	Major	$15,000–50,000
fencing · The fencing is in poor condition and appears to be falling apart.	Major	$15,000–50,000
windows · The windows are broken and need immediate repair.	Major	$15,000–50,000
doors · The doors are missing and need immediate repair.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both repair and replace roof — A new roof will significantly improve the property's appearance and functionality, attracting more buyers and renters. ↑
• Both repair and replace exterior siding — A new exterior siding will improve the property's appearance and functionality, attracting more buyers and renters. ↑
• Both landscaping and debris removal — A well-maintained and aesthetically pleasing landscape will improve the property's curb appeal and attract more buyers and renters. ↑
• Both repair and replace windows and doors — New windows and doors will improve the property's functionality and appearance, attracting more buyers and 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: Clearwater R-I
• NCES district ID: 2909750
• Math proficiency: 33% ▲ 1.00%
• Reading proficiency: 33% ▼ -6.00%
• Median HH income: $31,119
• Composite: 26.89/100
• National rank: #7095
• State rank: #255 of 324 in MO

Livability — Piedmont

• Score: 52/100
• State rank: #854
• US rank: #24925

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Piedmont, MO
• Population (ZIP): 5,068

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 13,005 people
• By 2030: 12,767 · -1.8%
• By 2040: 12,319 · -5.3%
• By 2050: 11,828 · -9.1%
• By 2075: 10,806 · -16.9%
• By 2100: 9,610 · -26.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 0%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+72.6) · D 13.4% · R 86.0%
• 2008→2024 swing: -47.6pp toward R · 2008: -25.0pp · 2024: -72.6pp
• All cycles: 2024: R+72.6 2020: R+70.5 2016: R+64.4 2012: R+34.6 2008: R+25.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.89%
• Current HPI: 165.6832
• 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

• 2026-03-18 Listed $74,900 MARIS as Distributed by MLS Grid