502 E Harrison St · Kirksville, MO 63501

$37,500

2 bd · 1.5 ba · 1,325 sqft · SingleFamily public records · 135 Days on market

Built 1920 $28/sqft · 75% below area ↓ 28% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits with this 2-bedroom, 1-bath bungalow situated on a corner lot and featuring a 1-car detached garage. Whether you're looking to finish this home with your own touches or an investment property with potential, this home is ready for your vision. With solid bones and a desirable lot location, it's the perfect chance to add value and build equity. This property is being sold as is. Schedule your personal tour today—call Mark Hunolt at 660-341-0802 #LookWithLegacyInMind

Key facts

• Investment property
• Corner lot
• Detached garage

Tags

• CORNER LOT
• DETACHED GARAGE
• INVESTMENT PROPERTY
• DESIRABLE LOT LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $38k.

Deal economics

• At list price, monthly cash flow is $546 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $38k).
• Recommended offer: $33k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.7% vs local median 5.2% in Kirksville — 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 (#211 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety B+; Watch: schools C-, crime D, amenities F.
• Kirksville R-III (town): math 31% / reading 45% proficiency, ranked #194 of 324 in MO (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.8%/yr); 234 active listings in the ZIP; 18 units permitted in Adair County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $259 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.8% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $12k (24%) 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 $33,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
6. 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.
7. 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.
8. 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: 2.71% ✓
• Cap rate: 23.75%
• Cash-on-cash: 62.34%
• DSCR: 3.77
• GRM: 3.1

CMA / ARV

• ARV (median comp): $139,537
• List price: $37,500
• Delta: -73.13%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.82% rent growth · sell at horizon

5-year hold

• IRR: 61.1%
• Equity multiple: 3.71×
• Total profit: $28,498
• Equity at exit: $5,591

10-year hold

• IRR: 65.6%
• Equity multiple: 7.56×
• Total profit: $68,861
• Equity at exit: $3,242

Cash invested: $10,500 (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 63501

• Home prices YoY: -31.5%
• Rents YoY: 2.8%
• Active inventory: 234
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,016 medium
• Mortgage (P&I): −$197
• Tax from tax record: −$45 /mo · $538/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $546

Break-even live

Break-even rent $325

Max offer price $37,500

Occupancy floor 41%

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: $9,375
• Closing costs: $1,125
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-19
   days on market $37,500 Active 135 DOM
2. 2026-06-18
   days on market $37,500 Active 134 DOM
3. 2026-06-17
   days on market $37,500 Active 133 DOM
4. 2026-06-16
   days on market $37,500 Active 132 DOM
5. 2026-06-15
   days on market $37,500 Active 131 DOM
6. 2026-06-14
   days on market $37,500 Active 129 DOM
7. 2026-06-12
   pricedays on market $37,500 Active 128 DOM
8. 2026-06-09
   days on market $39,500 Active 125 DOM
9. 2026-06-08
   days on market $39,500 Active 124 DOM
10. 2026-06-07
    days on market $39,500 Active 123 DOM
11. 2026-06-07
    days on market $39,500 Active 122 DOM
12. 2026-06-04
    days on market $39,500 Active 119 DOM
13. 2026-06-02
    days on market $39,500 Active 118 DOM
14. 2026-06-01
    days on market $39,500 Active 117 DOM
15. 2026-05-31
    days on market $39,500 Active 116 DOM
16. 2026-05-31
    days on market $39,500 Active 115 DOM
17. 2026-04-28
    price $39,500 494-char remark

    Show marketing remark (494 chars)

    Opportunity awaits with this 2-bedroom, 1-bath bungalow situated on a corner lot and featuring a 1-car detached garage. Whether you're looking to finish this home with your own touches or an investment property with potential, this home is ready for your vision. With solid bones and a desirable lot location, it's the perfect chance to add value and build equity. This property is being sold as is. Schedule your personal tour today—call Mark Hunolt at 660-341-0802 #LookWithLegacyInMind

18. 2026-02-04
    listed $49,500 Active 494-char remark

    Show marketing remark (494 chars)

    Opportunity awaits with this 2-bedroom, 1-bath bungalow situated on a corner lot and featuring a 1-car detached garage. Whether you're looking to finish this home with your own touches or an investment property with potential, this home is ready for your vision. With solid bones and a desirable lot location, it's the perfect chance to add value and build equity. This property is being sold as is. Schedule your personal tour today—call Mark Hunolt at 660-341-0802 #LookWithLegacyInMind

19. 2025-09-19
    soldstatus
20. 2024-01-30
    listed $69,900 Active
21. 2023-05-25
    soldstatus Closed
22. 2023-05-25
    soldstatus
23. 2023-05-15
    status Pending
24. 2023-05-02
    price $35,000
25. 2023-04-20
    price $43,000
26. 2023-04-12
    price $49,900
27. 2023-03-22
    listed $55,000 Active

ⓘ 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: $538 · $45/mo
• Projected year-2 tax: $538 · $45/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°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: $12,192
• − Mortgage interest: −$2,101
• − Property taxes: −$538
• − Insurance: −$188
• − Repairs & maintenance: −$975
• − Management: −$975
• − Depreciation: −$1,091
• Taxable income: $6,324
• Est. tax owed @ 24.0%: −$1,518
• After-tax cash flow: $5,028/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: Kirksville R-III
• NCES district ID: 2916740
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 45% ▼ -2.00%
• Median HH income: $33,570
• Composite: 31.21/100
• National rank: #6037
• State rank: #194 of 324 in MO

Livability — Kirksville

• Score: 67/100
• State rank: #211
• US rank: #10590

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kirksville, MO
• County: Adair County · 21,218 people
• City population: 21,218
• Metro: Kirksville, MO
• Population (ZIP): 21,218
• Household income: $60,729
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 702.0

Population outlook (Adair County) Hauer SSP2

• Today (2025): 25,570 people
• By 2030: 25,728 · +0.6%
• By 2040: 25,556 · -0.1%
• By 2050: 25,811 · +0.9%
• By 2075: 29,164 · +14.1%
• By 2100: 31,846 · +24.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 5% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 5% · Canada, Jamaica, South Korea
• Languages at home: 94% English-only · French/Haitian/Cajun 3% Spanish 2% Other Indo-European 1%

Political lean MEDSL · Adair

• 2024 margin: Solid R (+33.6) · D 32.6% · R 66.2% · Other 1.3%
• 2008→2024 swing: -32.3pp toward R · 2008: -1.3pp · 2024: -33.6pp
• All cycles: 2024: R+33.6 2020: R+26.2 2016: R+24.9 2012: R+14.1 2008: R+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.58%
• Current HPI: 168.7332
• Rent YoY: ▲ 2.82%
• Metro: Kirksville, 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

-28.2% since first listed

11 events — show timeline

• 2026-04-28 Price Changed $39,500 NECAR
• 2026-02-04 Listed $49,500 NECAR
• 2025-09-19 Sold (Public Records) — Public Records
• 2024-01-30 Listed $69,900 NECAR
• 2023-05-25 Sold (Public Records) — Public Records
• 2023-05-25 Sold (MLS) — NECAR
• 2023-05-15 Pending — NECAR
• 2023-05-02 Price Changed $35,000 NECAR
• 2023-04-20 Price Changed $43,000 NECAR
• 2023-04-12 Price Changed $49,900 NECAR
• 2023-03-22 Listed $55,000 NECAR

Property tax history

+2.6%/yr

Latest (2025): $538 · +9.0% YoY. Source: county tax records.