203 W 3rd St · Freeman, MO 64746

$125,000

2 bd · 1.0 ba · 864 sqft · Other · 1 Days on market

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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 +10.0/10.0
• Cash flow +7.9/30.0
• ARV discount +7.5/15.0
• Schools +3.1/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +2.0/10.0

Listing remarks

2 bed 1 bath with detached garage. Central heating and cooling. Large deck. Large yard sits on 1 3/4 lot.

Key facts

• Central heating
• Large deck
• Large yard

Tags

• DETACHED GARAGE
• CENTRAL HEATING
• LARGE DECK
• LARGE YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $125k.

Deal economics

• At list price, monthly cash flow is $-133 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $106k (15.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $92k (26.0% below list).
• Recommended offer: $92k (26.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#499 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: crime D+, schools D, amenities F.
• Midway R-I (rural): math 27% / reading 40% proficiency, ranked #201 of 324 in MO (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 14 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 588 units permitted in Cass County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Cass County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $92,500 (26.0% 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. 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 D 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. 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?
6. 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.
7. 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.
8. 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: 0.74% ✗
• Cap rate: 5.02%
• Cash-on-cash: -4.56%
• DSCR: 0.80
• GRM: 11.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.0%
• Equity multiple: 2.70×
• Total profit: $59,615
• Equity at exit: $112,610

10-year hold

• IRR: 19.1%
• Equity multiple: 6.21×
• Total profit: $182,251
• Equity at exit: $242,848

Cash invested: $35,000 (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 64746

• Home prices YoY: 3.8%
• Active inventory: 14
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $925 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $-133

Break-even live

Break-even rent $1,093

Max offer price $105,741

Occupancy floor —

Sensitivity live

Price	-10% $-47	-5% $-90	+0% $-133	+5% $-176	+10% $-219
Rent	-10% $-206	-5% $-170	+0% $-133	+5% $-97	+10% $-60
Rate	-1.0pp $-70	-0.5pp $-101	base $-133	+0.5pp $-165	+1.0pp $-198

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 4th St Unit A Freeman, MO	2.0	1.0	1100	$925	$0.84	9d	1	0.15mi

Listing history 1 events

1. 2026-05-26
   listed $125,000 Active

ⓘ 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 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 · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,100
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$888
• − Management: −$888
• − Depreciation: −$3,636
• Taxable loss: −$3,814
• Est. tax savings @ 24.0%: +$915
• After-tax cash flow: $-682/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: Midway R-I
• NCES district ID: 2931800
• Math proficiency: 27% ▼ -8.00%
• Reading proficiency: 40% ▼ -8.00%
• Median HH income: $66,225
• Composite: 30.61/100
• National rank: #6193
• State rank: #201 of 324 in MO

Livability — Freeman

• Score: 60/100
• State rank: #499
• US rank: #19304

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Freeman, MO
• Population (ZIP): 1,515

Population outlook (Cass County) Hauer SSP2

• Today (2025): 105,292 people
• By 2030: 106,109 · +0.8%
• By 2040: 105,786 · +0.5%
• By 2050: 102,062 · -3.1%
• By 2075: 88,569 · -15.9%
• By 2100: 68,293 · -35.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Asian 1%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 2% · South Korea
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+32.1) · D 33.3% · R 65.4% · Other 1.3%
• 2008→2024 swing: -12.5pp toward R · 2008: -19.6pp · 2024: -32.1pp
• All cycles: 2024: R+32.1 2020: R+31.6 2016: R+35.9 2012: R+28.4 2008: R+19.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.24%
• Current HPI: 310.35
• 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

• 2026-05-26 Listed $125,000 FSBO.com