274 Cornelison St · Lebanon, MO 65536

$95,000

4 bd · 1.0 ba · 420 sqft · Other public records · 79 Days on market

Built 1920 7,440 sqft lot ↓ 21% since listing

---

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 +27.1/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into vintage charm with this cozy 3-bedroom home that offers classic character and modern potential. With 840 square feet of living space and an AMAZING price, there's not a buyer this home WON'T impress! Tastefully updated over the years, this home has been well cared for by tenants and owners alike- the current owner has added a shed in the back and has made the place quite charming! The main-level bedroom provides easy access and convenience to bathroom and laundry while two additional bedrooms offer flexible space for guests, a home office, or hobbies. The kitchen is large and usable having a separate entry/exit door that makes grilling a breeze! Original details throughout the home reflect its 1920s craftsmanship while modern conveniences added as the years have went by make this old world charmer ALSO move in ready. A pleasant neighborhood on a side street means you'll actually enjoy spending time on the front porch, watching the sun sets.

Key facts

• 7,440 sq ft lot
• Built 1920
• Listed 79 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $95k.

Deal economics

• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 3.7% in Lebanon — 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 64/100 on livability (#308 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime D, schools D-, amenities F.
• Lebanon R-III (town): math 29% / reading 35% proficiency, ranked #256 of 324 in MO (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 256 active listings in the ZIP; 61 units permitted in Laclede County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Laclede County population projected at -13% 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 $27k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
6. 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?
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: 1.13% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.19%
• DSCR: 1.54
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 1.8%
• Equity multiple: 1.07×
• Total profit: $1,786
• Equity at exit: $14,165

10-year hold

• IRR: 11.3%
• Equity multiple: 1.89×
• Total profit: $23,589
• Equity at exit: $8,214

Cash invested: $26,600 (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 65536

• Home prices YoY: -21.8%
• Active inventory: 256
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,074 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$40 /mo · $486/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $270

Break-even live

Break-even rent $732

Max offer price $95,000

Occupancy floor 70%

Sensitivity live

Price	-10% $324	-5% $297	+0% $270	+5% $243	+10% $216
Rent	-10% $185	-5% $228	+0% $270	+5% $313	+10% $355
Rate	-1.0pp $318	-0.5pp $294	base $270	+0.5pp $246	+1.0pp $221

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-02
   status $95,000 Pending 79 DOM
2. 2026-06-01
   days on market $95,000 Active Under Contract 79 DOM
3. 2026-05-31
   days on market $95,000 Active Under Contract 78 DOM
4. 2026-05-30
   days on market $95,000 Active Under Contract 77 DOM
5. 2026-05-16
   historical Active Under Contract 968-char remark

   Show marketing remark (968 chars)

   Step into vintage charm with this cozy 3-bedroom home that offers classic character and modern potential. With 840 square feet of living space and an AMAZING price, there's not a buyer this home WON'T impress! Tastefully updated over the years, this home has been well cared for by tenants and owners alike- the current owner has added a shed in the back and has made the place quite charming! The main-level bedroom provides easy access and convenience to bathroom and laundry while two additional bedrooms offer flexible space for guests, a home office, or hobbies. The kitchen is large and usable having a separate entry/exit door that makes grilling a breeze! Original details throughout the home reflect its 1920s craftsmanship while modern conveniences added as the years have went by make this old world charmer ALSO move in ready. A pleasant neighborhood on a side street means you'll actually enjoy spending time on the front porch, watching the sun sets.

6. 2026-05-09
   status Active 968-char remark

   Show marketing remark (968 chars)

   Step into vintage charm with this cozy 3-bedroom home that offers classic character and modern potential. With 840 square feet of living space and an AMAZING price, there's not a buyer this home WON'T impress! Tastefully updated over the years, this home has been well cared for by tenants and owners alike- the current owner has added a shed in the back and has made the place quite charming! The main-level bedroom provides easy access and convenience to bathroom and laundry while two additional bedrooms offer flexible space for guests, a home office, or hobbies. The kitchen is large and usable having a separate entry/exit door that makes grilling a breeze! Original details throughout the home reflect its 1920s craftsmanship while modern conveniences added as the years have went by make this old world charmer ALSO move in ready. A pleasant neighborhood on a side street means you'll actually enjoy spending time on the front porch, watching the sun sets.

7. 2026-05-06
   historical Active Under Contract 968-char remark

   Show marketing remark (968 chars)

   Step into vintage charm with this cozy 3-bedroom home that offers classic character and modern potential. With 840 square feet of living space and an AMAZING price, there's not a buyer this home WON'T impress! Tastefully updated over the years, this home has been well cared for by tenants and owners alike- the current owner has added a shed in the back and has made the place quite charming! The main-level bedroom provides easy access and convenience to bathroom and laundry while two additional bedrooms offer flexible space for guests, a home office, or hobbies. The kitchen is large and usable having a separate entry/exit door that makes grilling a breeze! Original details throughout the home reflect its 1920s craftsmanship while modern conveniences added as the years have went by make this old world charmer ALSO move in ready. A pleasant neighborhood on a side street means you'll actually enjoy spending time on the front porch, watching the sun sets.

8. 2026-03-15
   listed $95,000 Active 968-char remark

   Show marketing remark (968 chars)

   Step into vintage charm with this cozy 3-bedroom home that offers classic character and modern potential. With 840 square feet of living space and an AMAZING price, there's not a buyer this home WON'T impress! Tastefully updated over the years, this home has been well cared for by tenants and owners alike- the current owner has added a shed in the back and has made the place quite charming! The main-level bedroom provides easy access and convenience to bathroom and laundry while two additional bedrooms offer flexible space for guests, a home office, or hobbies. The kitchen is large and usable having a separate entry/exit door that makes grilling a breeze! Original details throughout the home reflect its 1920s craftsmanship while modern conveniences added as the years have went by make this old world charmer ALSO move in ready. A pleasant neighborhood on a side street means you'll actually enjoy spending time on the front porch, watching the sun sets.

9. 2026-03-14
   historical $95,000 968-char remark

   Show marketing remark (968 chars)

   Step into vintage charm with this cozy 3-bedroom home that offers classic character and modern potential. With 840 square feet of living space and an AMAZING price, there's not a buyer this home WON'T impress! Tastefully updated over the years, this home has been well cared for by tenants and owners alike- the current owner has added a shed in the back and has made the place quite charming! The main-level bedroom provides easy access and convenience to bathroom and laundry while two additional bedrooms offer flexible space for guests, a home office, or hobbies. The kitchen is large and usable having a separate entry/exit door that makes grilling a breeze! Original details throughout the home reflect its 1920s craftsmanship while modern conveniences added as the years have went by make this old world charmer ALSO move in ready. A pleasant neighborhood on a side street means you'll actually enjoy spending time on the front porch, watching the sun sets.

10. 2025-08-12
    historical Active Under Contract
11. 2025-06-26
    price $125,300
12. 2025-05-09
    listed $120,000 Active
13. 2025-05-05
    historical
14. 2020-09-30
    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: $486 · $40/mo
• Projected year-2 tax: $922 · $77/mo
• Expected delta: +$436/yr (+$36/mo · 89.7%)

ⓘ 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 ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $12,888
• − Mortgage interest: −$5,321
• − Property taxes: −$486
• − Insurance: −$475
• − Repairs & maintenance: −$1,031
• − Management: −$1,031
• − Depreciation: −$2,764
• Taxable income: $1,781
• Est. tax owed @ 24.0%: −$427
• After-tax cash flow: $2,816/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: Lebanon R-III
• NCES district ID: 2918270
• Math proficiency: 29% ▼ -10.00%
• Reading proficiency: 35% ▼ -8.00%
• Median HH income: $38,352
• Composite: 26.73/100
• National rank: #7145
• State rank: #256 of 324 in MO

Livability — Lebanon

• Score: 64/100
• State rank: #308
• US rank: #14040

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lebanon, MO
• County: Laclede County · 29,915 people
• City population: 29,915
• Metro: Lebanon, MO
• Population (ZIP): 29,915
• Household income: $53,783
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 641.0

Population outlook (Laclede County) Hauer SSP2

• Today (2025): 34,730 people
• By 2030: 33,985 · -2.1%
• By 2040: 32,213 · -7.2%
• By 2050: 30,189 · -13.1%
• By 2075: 24,782 · -28.6%
• By 2100: 18,554 · -46.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Iranian 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Laclede

• 2024 margin: Solid R (+66.8) · D 16.1% · R 82.9%
• 2008→2024 swing: +212.7pp toward D · 2008: -279.5pp · 2024: -66.8pp
• All cycles: 2024: R+66.8 2020: R+65.4 2016: R+64.5 2012: R+44.5 2008: R+279.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.82%
• Current HPI: 196.7643
• Rent YoY: —
• Metro: Lebanon, MO
• 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

-20.8% since first listed

10 events — show timeline

• 2026-05-16 Contingent — MARIS as Distributed by MLS Grid
• 2026-05-09 Relisted — MARIS as Distributed by MLS Grid
• 2026-05-06 Contingent — MARIS as Distributed by MLS Grid
• 2026-03-15 Listed $95,000 MARIS as Distributed by MLS Grid
• 2026-03-14 Coming Soon $95,000 MARIS as Distributed by MLS Grid
• 2025-08-12 Contingent — MARIS as Distributed by MLS Grid
• 2025-06-26 Price Changed $125,300 MARIS as Distributed by MLS Grid
• 2025-05-09 Listed $120,000 MARIS as Distributed by MLS Grid
• 2025-05-05 Coming Soon — MARIS as Distributed by MLS Grid
• 2020-09-30 Sold (MLS) — MARIS as Distributed by MLS Grid

Property tax history

+2.4%/yr

Latest (2025): $486 · +9.6% YoY. Source: county tax records.