509 Patrick Pl · Sweet Springs, MO 65351

$80,000

3 bd · 1.0 ba · 918 sqft · Other · 80 Days on market

Built 1923 8,190 sqft lot $87/sqft · 40% below area Est $134k · 40% under

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Why this score? — see what drove the A- 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 +29.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• Appreciation +7.0/10.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Move-in ready with finishing touches still needed, this home offers great potential and many updates already underway. Most of the materials to complete remaining projects have already been purchased and are on site. The sellers have removed a wall to create an open-concept layout connecting the living room, dining room, and kitchen, providing a spacious and modern feel. A convenient Jack and Jill bathroom separates the bedrooms on the lower level. The attic has been partially finished into a bedroom, with the remaining space providing additional storage. A sunroom on the back of the home has been started and awaits completion, offering the opportunity to customize the space to your liking. Most of the exterior features new siding, with additional materials available to finish the remaining areas. The home also includes new windows throughout, with the exception of the bathroom and attic. The home is being sold AS IS. The basement is in need of repairs, and the seller has included estimates. Due to property condition, financing options are limited to cash or conventional loans. This home will also qualify for a full 203K rehab loan or conventional rehab loan. Be among the first to explore the possibilities this property offers and make this diamond in the rough your own.

Key facts

• New siding
• Open-concept layout
• New windows

Tags

• OPEN-CONCEPT LAYOUT
• JACK AND JILL BATHROOM
• PARTIALLY FINISHED ATTIC
• SUNROOM AWAITING COMPLETION
• NEW SIDING
• NEW WINDOWS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $80k.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#302 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Sweet Springs R-VII (rural): math 37% / reading 45% proficiency, ranked #135 of 324 in MO (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 16 active listings in the ZIP; 11 units permitted in Saline County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($553 loan paydown + $3k appreciation (4.0% local appreciation)).
• Saline County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 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 1923 — 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. 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: 1.25% ✓
• Cap rate: 10.70%
• Cash-on-cash: 15.75%
• DSCR: 1.70
• GRM: 6.7

CMA / ARV

• ARV (median comp): $133,544
• List price: $80,000
• Delta: -40.09%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Projected returns pro-forma

4.04% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.5%
• Equity multiple: 2.47×
• Total profit: $32,838
• Equity at exit: $40,753

10-year hold

• IRR: 24.4%
• Equity multiple: 4.81×
• Total profit: $85,331
• Equity at exit: $66,809

Cash invested: $22,400 (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 65351

• Home prices YoY: 3.9%
• Active inventory: 16
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$43 /mo · $521/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $294

Break-even live

Break-even rent $628

Max offer price $80,000

Occupancy floor 66%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $80,000 Active 80 DOM
2. 2026-06-18
   days on market $80,000 Active 79 DOM
3. 2026-06-17
   days on market $80,000 Active 78 DOM
4. 2026-06-16
   days on market $80,000 Active 77 DOM
5. 2026-06-15
   days on market $80,000 Active 76 DOM
6. 2026-06-14
   days on market $80,000 Active 74 DOM
7. 2026-06-12
   days on market $80,000 Active 73 DOM
8. 2026-06-09
   days on market $80,000 Active 70 DOM
9. 2026-06-08
   days on market $80,000 Active 69 DOM
10. 2026-06-07
    days on market $80,000 Active 68 DOM
11. 2026-06-05
    days on market $80,000 Active 65 DOM
12. 2026-06-02
    days on market $80,000 Active 63 DOM
13. 2026-06-01
    days on market $80,000 Active 62 DOM
14. 2026-05-31
    days on market $80,000 Active 61 DOM
15. 2026-05-30
    days on market $80,000 Active 60 DOM
16. 2026-03-31
    listed $80,000 Active 1291-char remark

    Show marketing remark (1291 chars)

    Move-in ready with finishing touches still needed, this home offers great potential and many updates already underway. Most of the materials to complete remaining projects have already been purchased and are on site. The sellers have removed a wall to create an open-concept layout connecting the living room, dining room, and kitchen, providing a spacious and modern feel. A convenient Jack and Jill bathroom separates the bedrooms on the lower level. The attic has been partially finished into a bedroom, with the remaining space providing additional storage. A sunroom on the back of the home has been started and awaits completion, offering the opportunity to customize the space to your liking. Most of the exterior features new siding, with additional materials available to finish the remaining areas. The home also includes new windows throughout, with the exception of the bathroom and attic. The home is being sold AS IS. The basement is in need of repairs, and the seller has included estimates. Due to property condition, financing options are limited to cash or conventional loans. This home will also qualify for a full 203K rehab loan or conventional rehab loan. Be among the first to explore the possibilities this property offers and make this diamond in the rough your own.

17. 2020-09-21
    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: $521 · $43/mo
• Projected year-2 tax: $776 · $65/mo
• Expected delta: +$255/yr (+$21/mo · 48.9%)

ⓘ 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 1/10 Low
• 🌡 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,004
• − Mortgage interest: −$4,481
• − Property taxes: −$521
• − Insurance: −$400
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$2,327
• Taxable income: $2,354
• Est. tax owed @ 24.0%: −$565
• After-tax cash flow: $2,963/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: Sweet Springs R-VII
• NCES district ID: 2929880
• Math proficiency: 37% ▼ -14.00%
• Reading proficiency: 45% ▼ -9.00%
• Median HH income: $42,522
• Composite: 34.58/100
• National rank: #5164
• State rank: #135 of 324 in MO

Livability — Sweet Springs

• Score: 64/100
• State rank: #302
• US rank: #13860

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sweet Springs, MO
• Population (ZIP): 2,224

Population outlook (Saline County) Hauer SSP2

• Today (2025): 22,716 people
• By 2030: 22,343 · -1.6%
• By 2040: 21,596 · -4.9%
• By 2050: 21,171 · -6.8%
• By 2075: 20,680 · -9.0%
• By 2100: 20,147 · -11.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 4% Italian 2% Slovak 2%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Saline

• 2024 margin: Solid R (+40.4) · D 29.2% · R 69.7% · Other 1.1%
• 2008→2024 swing: -37.9pp toward R · 2008: -2.5pp · 2024: -40.4pp
• All cycles: 2024: R+40.4 2020: R+37.3 2016: R+34.5 2012: R+14.4 2008: R+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.04%
• Current HPI: 107.2676
• 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

2 events — show timeline

• 2026-03-31 Listed $80,000 WCAR
• 2020-09-21 Sold (Public Records) — Public Records

Property tax history

+6.1%/yr

Latest (2025): $521 · +10.3% YoY. Source: county tax records.