603 W North St · Kennett, MO 63857

$38,500

2 bd · 1.0 ba · 768 sqft · Other public records · 3 Days on market

Built 1956 7,069 sqft lot $50/sqft · 12% below area Est $44k · 12% under ↓ 11% 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
• ARV discount +12.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.0/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This cozy 2-bedroom, 1-bath cottage offers comfort, efficiency, and classic charm. The home features newer windows that allow for plenty of natural light while improving energy efficiency, along with low-maintenance vinyl siding for easy upkeep. Inside, you’ll find a functional layout perfect for first-time buyers, downsizers, or investors. Outside, the chain-link fenced yard provides a secure space for pets, play, or gardening. Whether you’re looking for a charming primary residence or a smart investment, this cottage is full of potential and ready to welcome its next owner.

Key facts

• Newer windows
• Vinyl siding
• 7,069 sq ft lot

Tags

• NEWER WINDOWS
• VINYL SIDING
• CHAIN-LINK FENCED YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $38k.

Deal economics

• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($837 rent vs $38k).
• Cap rate 19.5% vs local median 6.5% in Kennett — 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 59/100 on livability (#561 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: health & safety C-, schools D, crime F.
• Kennett 39 (town): math 28% / reading 36% proficiency, ranked #262 of 324 in MO (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 58 active listings in the ZIP; 30 units permitted in Dunklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $266 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Dunklin County population projected at -22% 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $38,500

Questions for the listing agent

1. Built in 1956 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
5. 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.
6. 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.
7. 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: 2.17% ✓
• Cap rate: 19.49%
• Cash-on-cash: 47.12%
• DSCR: 3.10
• GRM: 3.8

CMA / ARV

• ARV (median comp): $43,743
• List price: $38,500
• Delta: -8.79%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 44.5%
• Equity multiple: 2.92×
• Total profit: $20,717
• Equity at exit: $5,740

10-year hold

• IRR: 50.4%
• Equity multiple: 5.89×
• Total profit: $52,736
• Equity at exit: $3,329

Cash invested: $10,780 (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 63857

• Home prices YoY: -12.7%
• Active inventory: 58
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $837 medium
• Mortgage (P&I): −$202
• Tax from tax record: −$20 /mo · $242/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$176
• Net cashflow: $423

Break-even live

Break-even rent $301

Max offer price $38,500

Occupancy floor 44%

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: $9,625
• Closing costs: $1,155
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $38,500 Active 3 DOM
2. 2026-06-17
   days on market $38,500 Active 2 DOM
3. 2026-06-16
   pricedays on marketlisting id $38,500 Active 1 DOM
4. 2026-06-15
   days on market $39,900 Active 126 DOM
5. 2026-06-13
   days on market $39,900 Active 124 DOM
6. 2026-06-12
   days on market $39,900 Active 123 DOM
7. 2026-06-09
   days on market $39,900 Active 120 DOM
8. 2026-06-08
   days on market $39,900 Active 119 DOM
9. 2026-06-07
   days on market $39,900 Active 118 DOM
10. 2026-06-05
    days on market $39,900 Active 116 DOM
11. 2026-06-04
    days on market $39,900 Active 114 DOM
12. 2026-06-02
    days on market $39,900 Active 113 DOM
13. 2026-06-01
    days on market $39,900 Active 112 DOM
14. 2026-05-31
    days on market $39,900 Active 111 DOM
15. 2026-05-15
    price $39,900 594-char remark

    Show marketing remark (594 chars)

    This cozy 2-bedroom, 1-bath cottage offers comfort, efficiency, and classic charm. The home features newer windows that allow for plenty of natural light while improving energy efficiency, along with low-maintenance vinyl siding for easy upkeep. Inside, you’ll find a functional layout perfect for first-time buyers, downsizers, or investors. Outside, the chain-link fenced yard provides a secure space for pets, play, or gardening. Whether you’re looking for a charming primary residence or a smart investment, this cottage is full of potential and ready to welcome its next owner.

16. 2026-02-09
    listed $45,000 Active 594-char remark

    Show marketing remark (594 chars)

    This cozy 2-bedroom, 1-bath cottage offers comfort, efficiency, and classic charm. The home features newer windows that allow for plenty of natural light while improving energy efficiency, along with low-maintenance vinyl siding for easy upkeep. Inside, you’ll find a functional layout perfect for first-time buyers, downsizers, or investors. Outside, the chain-link fenced yard provides a secure space for pets, play, or gardening. Whether you’re looking for a charming primary residence or a smart investment, this cottage is full of potential and ready to welcome its next owner.

17. 1994-01-14
    soldstatus

ⓘ 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: $242 · $20/mo
• Projected year-2 tax: $373 · $31/mo
• Expected delta: +$131/yr (+$11/mo · 54.3%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥111°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% 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: $10,047
• − Mortgage interest: −$2,157
• − Property taxes: −$242
• − Insurance: −$192
• − Repairs & maintenance: −$804
• − Management: −$804
• − Depreciation: −$1,120
• Taxable income: $4,728
• Est. tax owed @ 24.0%: −$1,135
• After-tax cash flow: $3,945/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: Kennett 39
• NCES district ID: 2916500
• Math proficiency: 28% ▼ -16.00%
• Reading proficiency: 36% ▼ -5.00%
• Median HH income: $32,065
• Composite: 26.12/100
• National rank: #7284
• State rank: #262 of 324 in MO

Livability — Kennett

• Score: 59/100
• State rank: #561
• US rank: #20397

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kennett, MO
• Population (ZIP): 11,964

Population outlook (Dunklin County) Hauer SSP2

• Today (2025): 28,599 people
• By 2030: 27,230 · -4.8%
• By 2040: 24,696 · -13.6%
• By 2050: 22,402 · -21.7%
• By 2075: 17,776 · -37.8%
• By 2100: 13,890 · -51.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 12% Two or more races 10% Hispanic / Latino 4%
• Common ancestry: Slovak 3% Iranian 2% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Dunklin

• 2024 margin: Solid R (+61.8) · D 18.8% · R 80.5%
• 2008→2024 swing: -40.5pp toward R · 2008: -21.3pp · 2024: -61.8pp
• All cycles: 2024: R+61.8 2020: R+57.0 2016: R+53.6 2012: R+30.2 2008: R+21.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.51%
• Current HPI: 127.6077
• 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

-11.3% since first listed

3 events — show timeline

• 2026-05-15 Price Changed $39,900 MARIS as Distributed by MLS Grid
• 2026-02-09 Listed $45,000 MARIS as Distributed by MLS Grid
• 1994-01-14 Sold (Public Records) — Public Records

Property tax history

+1.0%/yr

Latest (2025): $242 · +0.5% YoY. Source: county tax records.