130 W 2nd St · Clearmont, MO 64431

$87,000

2 bd · 1.0 ba · 5,154 sqft · Other · 155 Days on market

Built 1920 Fair condition 7,405 sqft lot ↓ 3% since listing

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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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Appreciation +5.0/10.0
• Livability +2.9/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

One-of-a-Kind Historic Church Conversion Opportunity Step into timeless character and endless potential with this stunning former church offering over 4,000 sq. ft. of space on a corner lot. Rich in history and craftsmanship, the property showcases original woodwork, beautiful wood floors, and stained glass windows that create a warm, inspiring atmosphere throughout. Currently configured with two rooms used as bedrooms and two half bathrooms, the layout offers multiple additional rooms ideal for offices, studios, meeting spaces, or additional bedrooms. The versatile kitchen area has supported a variety of uses and can easily be reimagined to fit your vision. Whether renovated into a unique private residence, home-based business, event space, studio, hunting lodge, or creative live/work environment, this property offers flexibility rarely found. The combination of historic charm and adaptable space makes it truly one of a kind. A remarkable opportunity for those seeking character, space, and possibility—this property is ready for its next chapter.

Key facts

• Original woodwork
• Corner lot
• 7,405 sq ft lot

Tags

• HISTORIC CHURCH CONVERSION
• ORIGINAL WOODWORK
• STAINED GLASS WINDOWS
• VERSATILE KITCHEN AREA
• CORNER LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $87k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $87k).
• Recommended offer: $77k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#589 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, schools F, crime F.
• West Nodaway County R-I (rural): math 25% / reading 35% proficiency, ranked #458 of 535 in MO (top 86%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 4 active listings in the ZIP; 49 units permitted in Nodaway County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($601 loan paydown + $3k appreciation (3.0% local appreciation)).
• Nodaway 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 $24k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 2 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 $76,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1920 — 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 F-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. Crime grade is F 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?
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: 1.21% ✓
• Cap rate: 9.50%
• Cash-on-cash: 11.46%
• DSCR: 1.51
• GRM: 6.9

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: 18.2%
• Equity multiple: 2.04×
• Total profit: $25,317
• Equity at exit: $39,119

10-year hold

• IRR: 19.6%
• Equity multiple: 3.85×
• Total profit: $69,391
• Equity at exit: $60,287

Cash invested: $24,360 (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 64431

• Active inventory: 4
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,056 medium
• Mortgage (P&I): −$456
• Tax est. 1.5%: −$109 /mo · $1,305/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $233

Break-even live

Break-even rent $761

Max offer price $87,000

Occupancy floor 73%

Sensitivity live

Price	-10% $293	-5% $263	+0% $233	+5% $203	+10% $173
Rent	-10% $149	-5% $191	+0% $233	+5% $274	+10% $316
Rate	-1.0pp $277	-0.5pp $255	base $233	+0.5pp $210	+1.0pp $187

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: $21,750
• Closing costs: $2,610
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $87,000 Active 155 DOM
2. 2026-06-17
   days on market $87,000 Active 154 DOM
3. 2026-06-16
   days on market $87,000 Active 153 DOM
4. 2026-06-15
   days on market $87,000 Active 152 DOM
5. 2026-06-13
   days on market $87,000 Active 150 DOM
6. 2026-06-12
   days on market $87,000 Active 149 DOM
7. 2026-06-09
   days on market $87,000 Active 146 DOM
8. 2026-06-08
   days on market $87,000 Active 145 DOM
9. 2026-06-07
   days on market $87,000 Active 144 DOM
10. 2026-06-07
    days on market $87,000 Active 143 DOM
11. 2026-06-04
    days on market $87,000 Active 140 DOM
12. 2026-06-02
    days on market $87,000 Active 139 DOM
13. 2026-06-01
    days on market $87,000 Active 138 DOM
14. 2026-05-31
    days on market $87,000 Active 137 DOM
15. 2026-01-14
    listed $87,000 Active 1071-char remark

    Show marketing remark (1071 chars)

    One-of-a-Kind Historic Church Conversion Opportunity Step into timeless character and endless potential with this stunning former church offering over 4,000 sq. ft. of space on a corner lot. Rich in history and craftsmanship, the property showcases original woodwork, beautiful wood floors, and stained glass windows that create a warm, inspiring atmosphere throughout. Currently configured with two rooms used as bedrooms and two half bathrooms, the layout offers multiple additional rooms ideal for offices, studios, meeting spaces, or additional bedrooms. The versatile kitchen area has supported a variety of uses and can easily be reimagined to fit your vision. Whether renovated into a unique private residence, home-based business, event space, studio, hunting lodge, or creative live/work environment, this property offers flexibility rarely found. The combination of historic charm and adaptable space makes it truly one of a kind. A remarkable opportunity for those seeking character, space, and possibility—this property is ready for its next chapter.

16. 2025-12-11
    historical
17. 2025-06-12
    listed $89,900 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,667
• − Mortgage interest: −$4,873
• − Property taxes: −$1,305
• − Insurance: −$435
• − Repairs & maintenance: −$1,013
• − Management: −$1,013
• − Depreciation: −$2,531
• Taxable income: $1,496
• Est. tax owed @ 24.0%: −$359
• After-tax cash flow: $2,433/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.

Condition & rehab AI · 11 photos

Fair 45/100 Extensive rehab

This historic church conversion opportunity requires extensive renovations to bring it up to modern standards and enhance its marketability.

Repairs flagged

• Major exterior siding — significant wear and tear
• Major window coverings — missing or damaged
• Major interior walls — peeling paint and potential structural issues
• Major roof — visible wear

Value-add opportunities

• Resale exterior siding replacement — enhances curb appeal and property value
• Resale interior paint job — updates the interior and makes it more marketable
• Both HVAC system upgrade — improves comfort and energy efficiency
• Both electrical and plumbing inspections — ensures safety and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · significant wear and tear	Major	$15,000–50,000
window coverings · missing or damaged	Major	$15,000–50,000
interior walls · peeling paint and potential structural issues	Major	$15,000–50,000
roof · visible wear	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale exterior siding replacement — enhances curb appeal and property value ↑
• Resale interior paint job — updates the interior and makes it more marketable ↑
• Both HVAC system upgrade — improves comfort and energy efficiency ↑
• Both electrical and plumbing inspections — ensures safety and functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: West Nodaway County R-I
• NCES district ID: 2930900
• Math proficiency: 25% ▼ -5.00%
• Reading proficiency: 35% ▬ 0.00%
• Median HH income: $41,065
• Composite: 28.16/100
• National rank: #12195
• State rank: #458 of 535 in MO

Livability — Clearmont

• Score: 58/100
• State rank: #589
• US rank: #20886

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clearmont, MO
• Population (ZIP): 401

Population outlook (Nodaway County) Hauer SSP2

• Today (2025): 22,010 people
• By 2030: 21,531 · -2.2%
• By 2040: 20,360 · -7.5%
• By 2050: 19,210 · -12.7%
• By 2075: 17,711 · -19.5%
• By 2100: 16,796 · -23.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Slovak 4% Italian 2% Hungarian 1%
• Foreign-born: 0% · Canada

Political lean MEDSL · Nodaway

• 2024 margin: Solid R (+43.7) · D 27.6% · R 71.4% · Other 1.0%
• 2008→2024 swing: -33.2pp toward R · 2008: -10.5pp · 2024: -43.7pp
• All cycles: 2024: R+43.7 2020: R+40.5 2016: R+40.8 2012: R+27.0 2008: R+10.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-3.2% since first listed

3 events — show timeline

• 2026-01-14 Listed $87,000 Heartland MLS as Distributed by MLS Grid
• 2025-12-11 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-06-12 Listed $89,900 Heartland MLS as Distributed by MLS Grid

Property tax history

+2.6%/yr

Latest (2025): $169 · -1.2% YoY. Source: county tax records.