2815 Burke Ave · West Plains, MO 65775

$150,000

2 bd · 1.0 ba · 1,206 sqft · Other public records · 261 Days on market

Built 1930 1.79 ac lot $124/sqft · 24% below area Est $198k · 24% under

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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).

• ARV discount +15.0/15.0
• Cash flow +10.1/30.0
• Livability +3.9/5.0
• Schools +3.4/10.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

1.79+/- acres zoned R3 for multifamily housing. The property does include a house selling as is. The house is occupied but is valued at very little.

Key facts

• 1.79 acre lot
• Built 1930
• Listed 260 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $150k.

Deal economics

• At list price, monthly cash flow is $-89 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $134k (10.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (30.9% below list).
• Recommended offer: $104k (30.9% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 3.1% in West Plains — 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 77/100 on livability (#34 in MO, #2,977 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime C-, commute C-, schools D.
• West Plains R-VII (rural): math 36% / reading 46% proficiency, ranked #152 of 324 in MO (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 315 active listings in the ZIP; 53 units permitted in Howell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Howell County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 261 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,643 (30.9% 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. It's been on market 261 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.69% ✗
• Cap rate: 5.58%
• Cash-on-cash: -2.55%
• DSCR: 0.89
• GRM: 12.1

CMA / ARV

• ARV (median comp): $197,586
• List price: $150,000
• Delta: -24.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -20.6%
• Equity multiple: 0.28×
• Total profit: $-30,045
• Equity at exit: $22,365

10-year hold

• IRR: -13.9%
• Equity multiple: 0.20×
• Total profit: $-33,728
• Equity at exit: $12,969

Cash invested: $42,000 (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 65775

• Home prices YoY: -16.4%
• Active inventory: 315
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $1,036 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$59 /mo · $705/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $-89

Break-even live

Break-even rent $1,149

Max offer price $134,260

Occupancy floor —

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $150,000 Active 261 DOM
2. 2026-06-17
   days on market $150,000 Active 260 DOM
3. 2026-06-16
   days on market $150,000 Active 259 DOM
4. 2026-06-15
   days on market $150,000 Active 258 DOM
5. 2026-06-13
   days on market $150,000 Active 256 DOM
6. 2026-06-12
   days on market $150,000 Active 255 DOM
7. 2026-06-09
   days on market $150,000 Active 252 DOM
8. 2026-06-08
   days on market $150,000 Active 251 DOM
9. 2026-06-07
   days on market $150,000 Active 250 DOM
10. 2026-06-07
    days on market $150,000 Active 249 DOM
11. 2026-06-04
    days on market $150,000 Active 246 DOM
12. 2026-06-02
    days on market $150,000 Active 245 DOM
13. 2026-06-01
    days on market $150,000 Active 244 DOM
14. 2026-05-31
    days on market $150,000 Active 243 DOM
15. 2025-09-30
    listed $150,000 Active 148-char remark

    Show marketing remark (148 chars)

    1.79+/- acres zoned R3 for multifamily housing. The property does include a house selling as is. The house is occupied but is valued at very little.

16. 2025-09-22
    soldstatus
17. 2015-05-22
    soldstatus
18. 1979-06-21
    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: $705 · $59/mo
• Projected year-2 tax: $1,455 · $121/mo
• Expected delta: +$750/yr (+$62/mo · 106.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $12,437
• − Mortgage interest: −$8,402
• − Property taxes: −$705
• − Insurance: −$750
• − Repairs & maintenance: −$995
• − Management: −$995
• − Depreciation: −$4,364
• Taxable loss: −$3,774
• Est. tax savings @ 24.0%: +$906
• After-tax cash flow: $-163/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: West Plains R-VII
• NCES district ID: 2931680
• Math proficiency: 36% ▼ -5.00%
• Reading proficiency: 46% ▲ 1.00%
• Median HH income: $32,206
• Composite: 33.59/100
• National rank: #5419
• State rank: #152 of 324 in MO

Livability — West Plains

• Score: 77/100
• State rank: #34
• US rank: #2977

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Plains, MO
• Population (ZIP): 24,950

Population outlook (Howell County) Hauer SSP2

• Today (2025): 38,462 people
• By 2030: 37,240 · -3.2%
• By 2040: 34,495 · -10.3%
• By 2050: 31,450 · -18.2%
• By 2075: 23,660 · -38.5%
• By 2100: 16,373 · -57.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Portuguese 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Howell

• 2024 margin: Solid R (+66.8) · D 16.2% · R 83.0%
• 2008→2024 swing: -36.0pp toward R · 2008: -30.8pp · 2024: -66.8pp
• All cycles: 2024: R+66.8 2020: R+64.2 2016: R+63.2 2012: R+43.8 2008: R+30.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.99%
• Current HPI: 228.8763
• 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

4 events — show timeline

• 2025-09-30 Listed $150,000 SOMO
• 2025-09-22 Sold (Public Records) — Public Records
• 2015-05-22 Sold (Public Records) — Public Records
• 1979-06-21 Sold (Public Records) — Public Records

Property tax history

-3.9%/yr

Latest (2025): $705 · +9.6% YoY. Source: county tax records.