1002 Terrace Dr · Festus, MO 63028

$178,400

3 bd · 1.0 ba · 1,008 sqft · Other public records · 49 Days on market

Built 1964 8,097 sqft lot

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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).

• Cash flow +14.6/30.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• DSCR +4.4/10.0
• Livability +3.4/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the heart of Festus this 3 bedroom home sits on a corner lot with a fenced in back yard. This would be a nice starter home with a little tlc. There is a large living/family room and wood floors throughout except for the kitchen and bathroom. The back yard contains a nice shed for storage and lawn equipment. There is a concrete patio out the back door and another covered patio great for bbq's. There is a covered carport that contains a storage area. A ramp to the front entrance can be removed if needed as steps are still there. The refrigerator and washer and dryer stay. The seller is offering a home warranty. Professional photos coming Saturday (8/7/21)

Key facts

• 8,097 sq ft lot
• Parking
• Built 1964

Property features AI

Finance

• Other: Living area approximately 1,008 (public records)
• Financial info: Lease not considered

Exterior

• Parking: Carport with 1 space
• Utilities: Public water; Public sewer; Electric service by Ameren; Cable connected
• Home design: Single-family residence; One story
• Construction: Brick veneer and vinyl siding exterior
• Exterior features: Back yard; Corner lot; Some trees

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 3 bedrooms, all on the main level
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Dishwasher; Range; Refrigerator; Central air; Forced air heating

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $178k.

Deal economics

• At list price, monthly cash flow is $41 ($497/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 $141k (20.9% below list).
• Recommended offer: $141k (20.9% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.6% in Festus — 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 68/100 on livability (#182 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety F.
• Festus R-VI (suburban): math 55% / reading 64% proficiency, ranked #16 of 324 in MO (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Festus Elem. (math 73% / reading 73%, grade A, #16 of 1,115 statewide, top 2%, 1,039 students, 36% FRL); Festus Intermediate (math 57% / reading 65%, grade B+, #17 of 391 statewide, top 5%, 745 students, 40% FRL); Festus Sr. High (math 37% / reading 60%, grade D, #147 of 521 statewide, top 29%, 979 students, 36% FRL) — zoned schools at 37% FRL track the district average.
• Market conditions: 172 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 807 units permitted in Jefferson County in 2024 (104 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 $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago 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

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $141,125 (20.9% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
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: 0.79% ✗
• Cap rate: 6.57%
• Cash-on-cash: 1.00%
• DSCR: 1.04
• GRM: 10.5

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: -14.8%
• Equity multiple: 0.47×
• Total profit: $-26,347
• Equity at exit: $26,600

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-19,857
• Equity at exit: $15,425

Cash invested: $49,952 (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 63028

• Home prices YoY: -29.9%
• Active inventory: 172
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,411 high
• Mortgage (P&I): −$936
• Tax from tax record: −$64 /mo · $763/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $41

Break-even live

Break-even rent $1,359

Max offer price $178,400

Occupancy floor 92%

Sensitivity live

Price	-10% $142	-5% $92	+0% $41	+5% $-9	+10% $-60
Rent	-10% $-70	-5% $-14	+0% $41	+5% $97	+10% $153
Rate	-1.0pp $131	-0.5pp $87	base $41	+0.5pp $-5	+1.0pp $-52

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: $44,600
• Closing costs: $5,352
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
535 S Adams St Festus, MO	2.0	1.0	977	$1,300	$1.33	0d	1	0.89mi
100 Ozark Dr Crystal City, MO	3.0	1.0	1064	$1,500	$1.41	25d	1	0.98mi
1107 Patriot Dr Festus, MO	1.0–2.0	1.0–2.0	1025	$1,650	$1.61	25d	1	1.16mi
102 Doctrine Dr Festus, MO	3.0	2.0	1350	$2,199	$1.63	23d	1	1.17mi
1 N Oak Knoll Dr Unit 1-28 Festus, MO	3.0	1.0	970	$1,050	$1.08	25d	1	1.20mi
1 N Oak Knoll Dr Unit 1-27 Festus, MO	2.0	1.0	799	$950	$1.19	25d	1	1.22mi
1 N Oak Knoll Dr Unit 1-84 Festus, MO	2.0	1.0	799	$1,025	$1.28	25d	1	1.22mi
986 American Legion Dr Festus, MO	2.0	2.0	1100	$1,650	$1.50	25d	1	1.28mi

Listing history 25 events

1. 2026-06-21
   days on market $178,400 Active 49 DOM
2. 2026-06-21
   days on market $178,400 Active 48 DOM
3. 2026-06-18
   days on market $178,400 Active 46 DOM
4. 2026-06-17
   days on market $178,400 Active 45 DOM
5. 2026-06-16
   days on market $178,400 Active 44 DOM
6. 2026-06-15
   days on market $178,400 Active 43 DOM
7. 2026-06-13
   days on market $178,400 Active 41 DOM
8. 2026-06-12
   days on market $178,400 Active 40 DOM
9. 2026-06-09
   days on market $178,400 Active 37 DOM
10. 2026-06-08
    days on market $178,400 Active 36 DOM
11. 2026-06-07
    days on market $178,400 Active 35 DOM
12. 2026-06-07
    days on market $178,400 Active 34 DOM
13. 2026-06-04
    days on market $178,400 Active 31 DOM
14. 2026-06-02
    days on market $178,400 Active 30 DOM
15. 2026-06-01
    days on market $178,400 Active 29 DOM
16. 2026-05-31
    days on market $178,400 Active 28 DOM
17. 2026-05-04
    listed $178,400 Active 678-char remark
18. 2026-04-30
    historical $178,400 678-char remark
19. 2021-09-15
    soldstatus
20. 2021-09-10
    soldstatus Closed 679-char remark

    Show marketing remark (679 chars)

    Located in the heart of Festus this 3 bedroom home sits on a corner lot with a fenced in back yard. This would be a nice starter home with a little tlc. There is a large living/family room and wood floors throughout except for the kitchen and bathroom. The back yard contains a nice shed for storage and lawn equipment. There is a concrete patio out the back door and another covered patio great for bbq's. There is a covered carport that contains a storage area. A ramp to the front entrance can be removed if needed as steps are still there. The refrigerator and washer and dryer stay. The seller is offering a home warranty. Professional photos coming Saturday (8/7/21)

21. 2021-08-11
    status Pending 679-char remark

    Show marketing remark (679 chars)

    Located in the heart of Festus this 3 bedroom home sits on a corner lot with a fenced in back yard. This would be a nice starter home with a little tlc. There is a large living/family room and wood floors throughout except for the kitchen and bathroom. The back yard contains a nice shed for storage and lawn equipment. There is a concrete patio out the back door and another covered patio great for bbq's. There is a covered carport that contains a storage area. A ramp to the front entrance can be removed if needed as steps are still there. The refrigerator and washer and dryer stay. The seller is offering a home warranty. Professional photos coming Saturday (8/7/21)

22. 2021-08-05
    listed $140,000 Active 679-char remark

    Show marketing remark (679 chars)

    Located in the heart of Festus this 3 bedroom home sits on a corner lot with a fenced in back yard. This would be a nice starter home with a little tlc. There is a large living/family room and wood floors throughout except for the kitchen and bathroom. The back yard contains a nice shed for storage and lawn equipment. There is a concrete patio out the back door and another covered patio great for bbq's. There is a covered carport that contains a storage area. A ramp to the front entrance can be removed if needed as steps are still there. The refrigerator and washer and dryer stay. The seller is offering a home warranty. Professional photos coming Saturday (8/7/21)

23. 2021-08-02
    historical $140,000 679-char remark

    Show marketing remark (679 chars)

    Located in the heart of Festus this 3 bedroom home sits on a corner lot with a fenced in back yard. This would be a nice starter home with a little tlc. There is a large living/family room and wood floors throughout except for the kitchen and bathroom. The back yard contains a nice shed for storage and lawn equipment. There is a concrete patio out the back door and another covered patio great for bbq's. There is a covered carport that contains a storage area. A ramp to the front entrance can be removed if needed as steps are still there. The refrigerator and washer and dryer stay. The seller is offering a home warranty. Professional photos coming Saturday (8/7/21)

24. 2006-06-28
    soldstatus
25. 2001-11-19
    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: $763 · $64/mo
• Projected year-2 tax: $1,730 · $144/mo
• Expected delta: +$967/yr (+$81/mo · 126.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,935
• − Mortgage interest: −$9,993
• − Property taxes: −$763
• − Insurance: −$892
• − Repairs & maintenance: −$1,355
• − Management: −$1,355
• − Depreciation: −$5,190
• Taxable loss: −$2,613
• Est. tax savings @ 24.0%: +$627
• After-tax cash flow: $1,124/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: Festus R-VI
• NCES district ID: 2912030
• Math proficiency: 55% ▼ -7.00%
• Reading proficiency: 64% ▼ -1.00%
• Median HH income: $51,632
• Composite: 50.79/100
• National rank: #1808
• State rank: #16 of 324 in MO

Livability — Festus

• Score: 68/100
• State rank: #182
• US rank: #9543

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Festus, MO
• Population (ZIP): 27,913

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 235,088 people
• By 2030: 238,365 · +1.4%
• By 2040: 240,156 · +2.2%
• By 2050: 234,651 · -0.2%
• By 2075: 214,569 · -8.7%
• By 2100: 179,697 · -23.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 2% Black 2% Asian 1%
• Common ancestry: Lithuanian 6% Slovak 1% Romanian 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Jefferson

• 2024 margin: Solid R (+36.7) · D 31.0% · R 67.7% · Other 1.3%
• 2008→2024 swing: -39.3pp toward R · 2008: 2.5pp · 2024: -36.7pp
• All cycles: 2024: R+36.7 2020: R+33.9 2016: R+35.3 2012: R+12.7 2008: D+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.59%
• Current HPI: 219.9705
• 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

+27.4% since first listed

9 events — show timeline

• 2026-05-04 Listed $178,400 MARIS as Distributed by MLS Grid
• 2026-04-30 Coming Soon $178,400 MARIS as Distributed by MLS Grid
• 2021-09-15 Sold (Public Records) — Public Records
• 2021-09-10 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2021-08-11 Pending — MARIS as Distributed by MLS Grid
• 2021-08-05 Listed $140,000 MARIS as Distributed by MLS Grid
• 2021-08-02 Coming Soon $140,000 MARIS as Distributed by MLS Grid
• 2006-06-28 Sold (Public Records) — Public Records
• 2001-11-19 Sold (Public Records) — Public Records

Property tax history

+3.0%/yr

Latest (2025): $763 · +5.3% YoY. Source: county tax records.