623 Fawn Ct · Bourbon, MO 65441

$90,000

3 bd · 2.0 ba · 1,200 sqft · Other · 36 Days on market

Built 2004 5.35 ac lot $75/sqft · 44% below area Est $159k · 44% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.8/10.0

Listing remarks MLS

Privacy is right here!!! Beautiful setting, over 5ac. Modular on a full foundation. Spacious home, has divided bedroom floor plan. This is a HUD owned property. HUD case # 292-476084 HUD Homes are sold “ AS-IS”. No utilities, please use caution and bring a flash light. Permission for utility activation must be granted. In cases where plumbing deficiencies exist , permission might not be granted.

Key facts

• Cosmetic updates
• 5.35 acres
• 5.35 acre lot

Tags

• 5.35 ACRES
• QUIET COUNTRY NEIGHBORHOOD
• COSMETIC UPDATES
• PEACEFUL RURAL SETTING

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Utilities: Well water; Septic tank; Electricity available; Water and sewer connected
• Home design: Manufactured home; One-level
• Construction: Vinyl siding
• Exterior features: Back yard; Many trees; Located on a 5.35-acre lot

Interior

• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 2 full bathrooms (on the main level)
• Heating & cooling: Electric heating with forced air; Central air conditioning; Ceiling fans
• Interior features: Ceiling fans; Central air

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $90k.

Deal economics

• At list price, monthly cash flow is $454 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#70 in MO, #4,719 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Crawford County R-I (town): math 34% / reading 48% proficiency, ranked #143 of 324 in MO (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bourbon Elementary School (math 37% / reading 42%, grade F, #537 of 1,115 statewide, top 53%, 344 students, 57% FRL); Bourbon High School (math 32% / reading 54%, grade F, #209 of 521 statewide, top 40%, 271 students, 51% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: 26 active listings in the ZIP; 23 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Crawford 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 $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $20k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.44% ✓
• Cap rate: 12.34%
• Cash-on-cash: 21.61%
• DSCR: 1.96
• GRM: 5.8

CMA / ARV

• ARV (median comp): $159,413
• List price: $90,000
• Delta: -43.54%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 14.2%
• Equity multiple: 1.57×
• Total profit: $14,311
• Equity at exit: $13,419

10-year hold

• IRR: 23.0%
• Equity multiple: 2.97×
• Total profit: $49,632
• Equity at exit: $7,782

Cash invested: $25,200 (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 65441

• Home prices YoY: -4.4%
• Active inventory: 26
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,294 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$59 /mo · $711/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $454

Break-even live

Break-even rent $720

Max offer price $90,000

Occupancy floor 60%

Sensitivity live

Price	-10% $505	-5% $479	+0% $454	+5% $428	+10% $403
Rent	-10% $352	-5% $403	+0% $454	+5% $505	+10% $556
Rate	-1.0pp $499	-0.5pp $477	base $454	+0.5pp $431	+1.0pp $407

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $90,000 Active 36 DOM
2. 2026-06-18
   days on market $90,000 Active 34 DOM
3. 2026-06-17
   price $90,000 Active 33 DOM
4. 2026-06-17
   days on market $109,900 Active 33 DOM
5. 2026-06-16
   days on market $109,900 Active 32 DOM
6. 2026-06-15
   days on market $109,900 Active 31 DOM
7. 2026-06-13
   days on market $109,900 Active 29 DOM
8. 2026-06-12
   days on market $109,900 Active 28 DOM
9. 2026-06-09
   days on market $109,900 Active 25 DOM
10. 2026-06-08
    days on market $109,900 Active 24 DOM
11. 2026-06-07
    days on market $109,900 Active 23 DOM
12. 2026-06-05
    days on market $109,900 Active 21 DOM
13. 2026-06-04
    days on market $109,900 Active 19 DOM
14. 2026-06-02
    days on market $109,900 Active 18 DOM
15. 2026-06-01
    days on market $109,900 Active 17 DOM
16. 2026-05-31
    days on market $109,900 Active 16 DOM
17. 2026-05-15
    listed $109,900 Active 687-char remark
18. 2020-04-21
    soldstatus
19. 2015-07-21
    soldstatus Closed 413-char remark

    Show marketing remark (413 chars)

    Privacy is right here!!! Beautiful setting, over 5ac. Modular on a full foundation. Spacious home, has divided bedroom floor plan. This is a HUD owned property. HUD case # 292-476084 HUD Homes are sold “ AS-IS”. No utilities, please use caution and bring a flash light. Permission for utility activation must be granted. In cases where plumbing deficiencies exist , permission might not be granted.

20. 2015-07-20
    historical 413-char remark

    Show marketing remark (413 chars)

    Privacy is right here!!! Beautiful setting, over 5ac. Modular on a full foundation. Spacious home, has divided bedroom floor plan. This is a HUD owned property. HUD case # 292-476084 HUD Homes are sold “ AS-IS”. No utilities, please use caution and bring a flash light. Permission for utility activation must be granted. In cases where plumbing deficiencies exist , permission might not be granted.

21. 2015-06-08
    historical Option 413-char remark

    Show marketing remark (413 chars)

    Privacy is right here!!! Beautiful setting, over 5ac. Modular on a full foundation. Spacious home, has divided bedroom floor plan. This is a HUD owned property. HUD case # 292-476084 HUD Homes are sold “ AS-IS”. No utilities, please use caution and bring a flash light. Permission for utility activation must be granted. In cases where plumbing deficiencies exist , permission might not be granted.

22. 2015-05-29
    listed $33,000 Active 413-char remark

    Show marketing remark (413 chars)

    Privacy is right here!!! Beautiful setting, over 5ac. Modular on a full foundation. Spacious home, has divided bedroom floor plan. This is a HUD owned property. HUD case # 292-476084 HUD Homes are sold “ AS-IS”. No utilities, please use caution and bring a flash light. Permission for utility activation must be granted. In cases where plumbing deficiencies exist , permission might not be granted.

ⓘ 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: $711 · $59/mo
• Projected year-2 tax: $873 · $73/mo
• Expected delta: +$162/yr (+$13/mo · 22.7%)

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,534
• − Mortgage interest: −$5,041
• − Property taxes: −$711
• − Insurance: −$450
• − Repairs & maintenance: −$1,243
• − Management: −$1,243
• − Depreciation: −$2,618
• Taxable income: $4,227
• Est. tax owed @ 24.0%: −$1,015
• After-tax cash flow: $4,432/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: Crawford County R-I
• NCES district ID: 2905640
• Math proficiency: 34% ▼ -1.00%
• Reading proficiency: 48% ▼ -3.00%
• Median HH income: $40,520
• Composite: 34.37/100
• National rank: #5216
• State rank: #143 of 324 in MO

Livability — Bourbon

• Score: 74/100
• State rank: #70
• US rank: #4719

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,086

Population outlook (Crawford County) Hauer SSP2

• Today (2025): 24,107 people
• By 2030: 23,619 · -2.0%
• By 2040: 22,404 · -7.1%
• By 2050: 21,042 · -12.7%
• By 2075: 18,239 · -24.3%
• By 2100: 15,147 · -37.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 7% Hispanic / Latino 3% Pacific Islander 1%
• Common ancestry: Slovak 4% Lithuanian 3% Italian 3%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Crawford

• 2024 margin: Solid R (+62.2) · D 18.5% · R 80.7%
• 2008→2024 swing: -41.4pp toward R · 2008: -20.8pp · 2024: -62.2pp
• All cycles: 2024: R+62.2 2020: R+60.2 2016: R+59.5 2012: R+36.4 2008: R+20.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -8.40%
• Current HPI: 184.04
• 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

+172.7% since first listed

7 events — show timeline

• 2026-06-17 Price Changed $90,000 MARIS as Distributed by MLS Grid
• 2026-05-15 Listed $109,900 MARIS as Distributed by MLS Grid
• 2020-04-21 Sold (Public Records) — Public Records
• 2015-07-21 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2015-07-20 Delisted — MARIS as Distributed by MLS Grid
• 2015-06-08 Contingent — MARIS as Distributed by MLS Grid
• 2015-05-29 Listed $33,000 MARIS as Distributed by MLS Grid

Property tax history

+1.2%/yr

Latest (2025): $711 · +4.6% YoY. Source: county tax records.