724 S Whitmer St · Richmond, MO 64085

$109,000

2 bd · 1.0 ba · 1,348 sqft · SingleFamily public records · 9 Days on market

Built 1900 0.63 ac 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 +27.2/30.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Appreciation +5.1/10.0
• Livability +3.4/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Tucked away at the end of a street, this unique property offers a peaceful setting with mature trees on over half an acre of space to make your own. This two-bedroom, one-bath bungalow is full of potential and ready for someone with vision to make their own. Featuring two detached garages and an attached workshop, there’s plenty of room for hobbies, storage, workshop space, or all the tools and toys. The large lot provides a semi-private, secluded feel that’s hard to find in town. While the home is dated, the opportunity here is undeniable for the right buyer looking for a handyman special with character, space, and endless possibilities.

Key facts

• Attached workshop
• Large lot
• Detached garages

Tags

• PEACEFUL SETTING
• MATURE TREES
• HALF AN ACRE
• DETACHED GARAGES
• ATTACHED WORKSHOP
• LARGE LOT

Property features AI

Finance

• Other: Living area reported as 1,348 (assessor); Lot size about 27,410 square feet (assessor); Directions: From 210 Highway East to Richmond. Exit on Camden Street and take a left. Right on S Whitmer to the property at the very end of the street.
• HOA & community: No association fees

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Metal siding; Composition roof; Approximately 101+ years old
• Exterior features: No flood plain

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Propane heating; Electric cooling (has air conditioning)
• Interior features: Bungalow floor plan; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $313 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• Cap rate 9.7% vs local median 3.6% in Richmond — 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 67/100 on livability (#198 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D+, amenities F.
• Richmond R-XVI (town): math 32% / reading 39% proficiency, ranked #209 of 324 in MO (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 101 active listings in the ZIP; 56 units permitted in Ray County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($754 loan paydown + $322 appreciation (0.3% local appreciation)).
• Ray County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.3% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 9 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 $109,000

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 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. 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: 1.14% ✓
• Cap rate: 9.74%
• Cash-on-cash: 12.33%
• DSCR: 1.55
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $237,248
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
724 S Whitmer St	0.00mi	2/1.0	1,348 (0%)	0mo	$109,000	$81	100
623 Parnell St	0.28mi	3/1.0 (+1)	1,237 (-8%)	6mo	$90,000	$73	64
623 S Whitmer St	0.27mi	3/2.5 (+1)	1,450 (+8%)	0mo	$254,900	$176	63
621 S Whitmer St	0.27mi	3/2.5 (+1)	1,450 (+8%)	1mo	$254,900	$176	63
204 First St	0.54mi	3/1.0 (+1)	1,246 (-8%)	1mo	$192,000	$154	57
304 W Olive St	0.31mi	3/2.0 (+1)	1,264 (-6%)	12mo	$260,000	$206	56
602 W Haven Dr	0.58mi	3/2.0 (+1)	1,426 (+6%)	1mo	$282,500	$198	53
500 West Haven Dr	0.66mi	3/2.5 (+1)	1,428 (+6%)	5mo	$279,900	$196	44
705 Jabez St	0.67mi	3/2.0 (+1)	1,300 (-4%)	12mo	$149,900	$115	44
507 S Shaw St	0.61mi	2/1.5	1,523 (+13%)	8mo	$99,900	$66	42
703 W Lexington St	0.72mi	3/2.0 (+1)	1,240 (-8%)	4mo	$273,500	$221	41
113 W Royle St	0.57mi	3/1.5 (+1)	1,145 (-15%)	3mo	$179,000	$156	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.3% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.3%
• Equity multiple: 1.60×
• Total profit: $18,270
• Equity at exit: $33,272

10-year hold

• IRR: 16.7%
• Equity multiple: 2.89×
• Total profit: $57,530
• Equity at exit: $41,313

Cash invested: $30,520 (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 64085

• Home prices YoY: 0.1%
• Active inventory: 101
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,245 medium
• Mortgage (P&I): −$572
• Tax from tax record: −$53 /mo · $633/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $313

Break-even live

Break-even rent $848

Max offer price $109,000

Occupancy floor 70%

Sensitivity live

Price	-10% $375	-5% $344	+0% $313	+5% $283	+10% $252
Rent	-10% $215	-5% $264	+0% $313	+5% $363	+10% $412
Rate	-1.0pp $368	-0.5pp $341	base $313	+0.5pp $285	+1.0pp $257

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-18
   listed $109,000 Active

ⓘ 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: $633 · $53/mo
• Projected year-2 tax: $1,057 · $88/mo
• Expected delta: +$425/yr (+$35/mo · 67.1%)

ⓘ 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 ≥108°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,935
• − Mortgage interest: −$6,106
• − Property taxes: −$633
• − Insurance: −$545
• − Repairs & maintenance: −$1,195
• − Management: −$1,195
• − Depreciation: −$3,171
• Taxable income: $2,091
• Est. tax owed @ 24.0%: −$502
• After-tax cash flow: $3,260/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: Richmond R-XVI
• NCES district ID: 2926480
• Math proficiency: 32% ▼ -11.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $44,070
• Composite: 30.17/100
• National rank: #6321
• State rank: #209 of 324 in MO

Livability — Richmond

• Score: 67/100
• State rank: #198
• US rank: #10160

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, MO
• Population (ZIP): 8,113

Population outlook (Ray County) Hauer SSP2

• Today (2025): 21,420 people
• By 2030: 20,507 · -4.3%
• By 2040: 18,550 · -13.4%
• By 2050: 16,516 · -22.9%
• By 2075: 12,899 · -39.8%
• By 2100: 10,413 · -51.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 3% Two or more races 3% Black 2% Native American 1%
• Common ancestry: Lithuanian 3% Slovak 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Ray

• 2024 margin: Solid R (+48.7) · D 25.1% · R 73.8% · Other 1.1%
• 2008→2024 swing: -45.5pp toward R · 2008: -3.2pp · 2024: -48.7pp
• All cycles: 2024: R+48.7 2020: R+45.0 2016: R+37.1 2012: R+14.9 2008: R+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.30%
• Current HPI: 374.3671
• 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

• 2026-05-18 Listed $109,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2025): $633 · +5.9% YoY. Source: county tax records.