605 E Lexington St · Richmond, MO 64085

$120,900

2 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 55 Days on market

Built 1920 0.29 ac lot $112/sqft · 17% below area Est $146k · 17% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.1/30.0
• Appreciation +5.1/10.0
• DSCR +4.3/10.0
• Livability +3.4/5.0
• 1% rule +3.0/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming 2-bedroom, 1-bath home offering 1,080 square feet on a spacious lot. Major exterior updates have already been completed, including a new roof on both the home and detached garage, with most of the decking replaced, giving peace of mind on some of the bigger-ticket items. Inside, the home offers a functional layout with comfortable living space and plenty of natural light. Step out back to enjoy the porch, perfect for relaxing or taking in the backyard. The detached garage adds extra storage or workspace options. A great opportunity for a first-time buyer, investor, or anyone looking for a home with solid updates already in place and, with a little TLC and love, the chance to truly make it their own.

Key facts

• 0.29 acre lot
• Garage
• Built 1920

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $121k.

Deal economics

• At list price, monthly cash flow is $17 ($210/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $97k (19.5% below list).
• Recommended offer: $97k (19.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.6% in Richmond — 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 67/100 on livability (#198 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D+, amenities F.
• Richmond R-XVI (town): math 32% / reading 39% proficiency, ranked #209 of 324 in MO (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 101 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 56 units permitted in Ray County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($836 loan paydown + $358 appreciation (0.3% local appreciation)).
• Ray County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y ago; this cycle's ask has dropped $19k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $97,314 (19.5% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 20% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.80% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.62%
• DSCR: 1.03
• GRM: 10.4

CMA / ARV

• ARV (median comp): $145,744
• List price: $120,900
• Delta: -17.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
519 S Shaw St	0.47mi	2/1.0	1,116 (+3%)	4mo	$184,900	$166	70
310 S College St	0.61mi	2/1.0	1,064 (-2%)	4mo	$179,900	$169	66
614 S Institute St	0.24mi	3/1.0 (+1)	1,182 (+9%)	5mo	$85,000	$72	64
303 Morningside Dr	0.47mi	3/1.5 (+1)	1,080 (0%)	11mo	$215,000	$199	62
403 S Thornton St	0.50mi	2/1.0	1,017 (-6%)	6mo	$59,500	$59	62
408 S Shaw St	0.46mi	3/1.0 (+1)	1,131 (+5%)	6mo	$159,900	$141	61
403 Forrest St	0.32mi	3/1.0 (+1)	1,000 (-7%)	9mo	$119,900	$120	60
314 E Lexington St	0.36mi	2/1.0	968 (-10%)	10mo	$112,000	$116	58
113 W Royle St	0.53mi	3/1.5 (+1)	1,145 (+6%)	3mo	$179,000	$156	56
804 Reyburn St	0.42mi	3/1.0 (+1)	1,015 (-6%)	12mo	$96,000	$95	56
502 Benton St	0.53mi	3/1.0 (+1)	1,152 (+7%)	12mo	$203,000	$176	49
400 N Institute St	0.44mi	3/2.0 (+1)	1,200 (+11%)	10mo	$220,000	$183	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.3% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-770
• Equity at exit: $36,904

10-year hold

• IRR: 4.9%
• Equity multiple: 1.54×
• Total profit: $18,407
• Equity at exit: $45,823

Cash invested: $33,852 (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 64085

• Home prices YoY: 0.1%
• Active inventory: 101
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $973 medium
• Mortgage (P&I): −$634
• Tax from tax record: −$67 /mo · $803/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $17

Break-even live

Break-even rent $951

Max offer price $120,900

Occupancy floor 93%

Sensitivity live

Price	-10% $86	-5% $52	+0% $17	+5% $-17	+10% $-51
Rent	-10% $-59	-5% $-21	+0% $17	+5% $56	+10% $94
Rate	-1.0pp $78	-0.5pp $48	base $17	+0.5pp $-14	+1.0pp $-46

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: $30,225
• Closing costs: $3,627
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1105 Fairway Dr Richmond, MO	2.0	1.0	782	$925	$1.18	2d	1	1.23mi
1101 S Camden St Unit 1107 1 Richmond, MO	2.0	1.0	750	$1,000	$1.33	3d	1	1.31mi
1101 S Camden St Unit 1105 5 Richmond, MO	2.0	1.0	750	$1,000	$1.33	2d	1	1.31mi

Listing history 25 events

1. 2026-06-21
   days on market $120,900 Active 55 DOM
2. 2026-06-18
   days on market $120,900 Active 53 DOM
3. 2026-06-17
   days on market $120,900 Active 52 DOM
4. 2026-06-16
   days on market $120,900 Active 51 DOM
5. 2026-06-15
   days on market $120,900 Active 50 DOM
6. 2026-06-13
   days on market $120,900 Active 48 DOM
7. 2026-06-12
   days on market $120,900 Active 47 DOM
8. 2026-06-09
   days on market $120,900 Active 44 DOM
9. 2026-06-08
   days on market $120,900 Active 43 DOM
10. 2026-06-07
    days on market $120,900 Active 42 DOM
11. 2026-06-07
    days on market $120,900 Active 41 DOM
12. 2026-06-04
    days on market $120,900 Active 38 DOM
13. 2026-06-02
    days on market $120,900 Active 37 DOM
14. 2026-06-01
    days on market $120,900 Active 36 DOM
15. 2026-05-31
    days on market $120,900 Active 35 DOM
16. 2026-05-31
    pricestatus $120,900 Active 34 DOM
17. 2026-04-30
    price $129,900 717-char remark

    Show marketing remark (717 chars)

    Charming 2-bedroom, 1-bath home offering 1,080 square feet on a spacious lot. Major exterior updates have already been completed, including a new roof on both the home and detached garage, with most of the decking replaced, giving peace of mind on some of the bigger-ticket items. Inside, the home offers a functional layout with comfortable living space and plenty of natural light. Step out back to enjoy the porch, perfect for relaxing or taking in the backyard. The detached garage adds extra storage or workspace options. A great opportunity for a first-time buyer, investor, or anyone looking for a home with solid updates already in place and, with a little TLC and love, the chance to truly make it their own.

18. 2026-04-17
    listed $140,000 Active 717-char remark

    Show marketing remark (717 chars)

    Charming 2-bedroom, 1-bath home offering 1,080 square feet on a spacious lot. Major exterior updates have already been completed, including a new roof on both the home and detached garage, with most of the decking replaced, giving peace of mind on some of the bigger-ticket items. Inside, the home offers a functional layout with comfortable living space and plenty of natural light. Step out back to enjoy the porch, perfect for relaxing or taking in the backyard. The detached garage adds extra storage or workspace options. A great opportunity for a first-time buyer, investor, or anyone looking for a home with solid updates already in place and, with a little TLC and love, the chance to truly make it their own.

19. 2026-03-31
    historical $140,000 717-char remark

    Show marketing remark (717 chars)

    Charming 2-bedroom, 1-bath home offering 1,080 square feet on a spacious lot. Major exterior updates have already been completed, including a new roof on both the home and detached garage, with most of the decking replaced, giving peace of mind on some of the bigger-ticket items. Inside, the home offers a functional layout with comfortable living space and plenty of natural light. Step out back to enjoy the porch, perfect for relaxing or taking in the backyard. The detached garage adds extra storage or workspace options. A great opportunity for a first-time buyer, investor, or anyone looking for a home with solid updates already in place and, with a little TLC and love, the chance to truly make it their own.

20. 2024-08-06
    historical
21. 2024-07-07
    price $119,900
22. 2024-06-25
    price $124,900
23. 2024-06-17
    listed $139,000 Active
24. 2011-07-24
    historical
25. 2011-05-20
    listed $24,900

ⓘ 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: $803 · $67/mo
• Projected year-2 tax: $1,173 · $98/mo
• Expected delta: +$370/yr (+$31/mo · 46.0%)

ⓘ 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 ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,678
• − Mortgage interest: −$6,772
• − Property taxes: −$803
• − Insurance: −$604
• − Repairs & maintenance: −$934
• − Management: −$934
• − Depreciation: −$3,517
• Taxable loss: −$1,888
• Est. tax savings @ 24.0%: +$453
• After-tax cash flow: $663/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: Richmond R-XVI
• NCES district ID: 2926480
• Math proficiency: 32% ▼ -11.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $44,070
• Composite: 30.17/100
• National rank: #6321
• State rank: #209 of 324 in MO

Livability — Richmond

• Score: 67/100
• State rank: #198
• US rank: #10160

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, MO
• Population (ZIP): 8,113

Population outlook (Ray County) Hauer SSP2

• Today (2025): 21,420 people
• By 2030: 20,507 · -4.3%
• By 2040: 18,550 · -13.4%
• By 2050: 16,516 · -22.9%
• By 2075: 12,899 · -39.8%
• By 2100: 10,413 · -51.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 3% Two or more races 3% Black 2% Native American 1%
• Common ancestry: Lithuanian 3% Slovak 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Ray

• 2024 margin: Solid R (+48.7) · D 25.1% · R 73.8% · Other 1.1%
• 2008→2024 swing: -45.5pp toward R · 2008: -3.2pp · 2024: -48.7pp
• All cycles: 2024: R+48.7 2020: R+45.0 2016: R+37.1 2012: R+14.9 2008: R+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.30%
• Current HPI: 374.3671
• 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

+421.7% since first listed

9 events — show timeline

• 2026-04-30 Price Changed $129,900 Heartland MLS as Distributed by MLS Grid
• 2026-04-17 Listed $140,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-31 Coming Soon $140,000 Heartland MLS as Distributed by MLS Grid
• 2024-08-06 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2024-07-07 Price Changed $119,900 Heartland MLS as Distributed by MLS Grid
• 2024-06-25 Price Changed $124,900 Heartland MLS as Distributed by MLS Grid
• 2024-06-17 Listed $139,000 Heartland MLS as Distributed by MLS Grid
• 2011-07-24 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2011-05-20 Listed $24,900 Heartland MLS as Distributed by MLS Grid

Property tax history

+4.4%/yr

Latest (2025): $803 · +7.8% YoY. Source: county tax records.