403 S Adams St · Nevada, MO 64772

$99,900

3 bd · 2.0 ba · 1,962 sqft · SingleFamily public records · 97 Days on market

Built 1880 $51/sqft · 32% below area Est $146k · 32% under

---

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).

• Cash flow +22.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.4/10.0
• Schools +3.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A historical Nevada home. The current owners have some health issues, so the home doesn't show as well as they would like. It's a good solid house but needs refreshed. It has many positive features including central heat & air, hardwood floors, 2 car detached garage, lots of square footage, corner lot, deck, covered porch. .. It would be nice to see it freshly painted & changes made more fitting for the era of it's time to bring it back to it's glory! The owners have currently converted it into a 5 bedroom, but the wall & door that was added can easily be removed to open it back up. It has a flue from a woodstove in the past.

Key facts

• Covered porch
• Central heat and air
• Deck

Tags

• CENTRAL HEAT AND AIR
• HARDWOOD FLOORS
• CORNER LOT
• DECK
• COVERED PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $169 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 5.0% in Nevada — 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 59/100 on livability (#519 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: crime F, amenities F, commute F.
• Nevada R-V (town): math 33% / reading 44% proficiency, ranked #180 of 324 in MO (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Truman Elem. (math 25% / reading 41%, grade F, #744 of 1,115 statewide, top 67%, 500 students, 58% FRL); Nevada Middle (math 38% / reading 43%, grade F, #180 of 391 statewide, top 47%, 529 students, 54% FRL); Nevada High (math 38% / reading 52%, grade D-, #176 of 521 statewide, top 34%, 786 students, 48% FRL).
• Market conditions: 105 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 57 units permitted in Vernon County in 2024 (38 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Vernon County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 18y 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.
• Current owner paid $70k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — 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 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?
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: 1.04% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.23%
• DSCR: 1.32
• GRM: 8.0

CMA / ARV

• ARV (median comp): $146,394
• List price: $99,900
• Delta: -31.76%
• 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
325 S Ash St	0.08mi	2/1.5 (-1)	1,790 (-9%)	0mo	$1	—	74
628 S Clay St	0.21mi	3/3.0	1,848 (-6%)	3mo	$183,000	$99	74
928 W Arch St	0.47mi	3/2.0	1,868 (-5%)	1mo	$215,000	$115	69
710 W Ewing St	0.50mi	3/2.0	2,072 (+6%)	1mo	$1	—	66
704 W Burton St	0.61mi	3/1.0	1,964 (+0%)	6mo	$167,500	$85	62
802 S Timberbrook Dr	0.38mi	3/2.0	1,723 (-12%)	1mo	$228,000	$132	61
519 W Cherry St	0.25mi	3/1.5	1,712 (-13%)	6mo	$162,700	$95	60
626 W Allison St	0.53mi	3/2.0	1,791 (-9%)	2mo	$203,500	$114	59
429 N Washington St	0.59mi	3/2.0	1,871 (-5%)	8mo	$1	—	58
805 W Sycamore St	0.33mi	4/1.5 (+1)	2,205 (+12%)	8mo	$1	—	50
514 N Washington St	0.64mi	4/2.0 (+1)	1,842 (-6%)	7mo	$179,900	$98	49
1115 S Cedar St	0.59mi	2/2.0 (-1)	1,680 (-14%)	6mo	$230,000	$137	38

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

Projected returns pro-forma

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

5-year hold

• IRR: -5.2%
• Equity multiple: 0.80×
• Total profit: $-5,456
• Equity at exit: $14,895

10-year hold

• IRR: 4.4%
• Equity multiple: 1.32×
• Total profit: $9,046
• Equity at exit: $8,638

Cash invested: $27,972 (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 64772

• Active inventory: 105
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,039 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$87 /mo · $1,041/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $169

Break-even live

Break-even rent $826

Max offer price $99,900

Occupancy floor 79%

Sensitivity live

Price	-10% $225	-5% $197	+0% $169	+5% $140	+10% $112
Rent	-10% $87	-5% $128	+0% $169	+5% $210	+10% $251
Rate	-1.0pp $219	-0.5pp $194	base $169	+0.5pp $143	+1.0pp $116

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
317 E Hickory St Nevada, MO	3.0	1.0	1296	$1,050	$0.81	45d	1	0.68mi
515 N Tower St Nevada, MO	3.0	1.0	1305	$1,025	$0.79	45d	1	0.88mi

Listing history 27 events

1. 2026-06-21
   days on market $99,900 Active 97 DOM
2. 2026-06-21
   days on market $99,900 Active 96 DOM
3. 2026-06-18
   days on market $99,900 Active 94 DOM
4. 2026-06-17
   days on market $99,900 Active 93 DOM
5. 2026-06-16
   days on market $99,900 Active 92 DOM
6. 2026-06-15
   days on market $99,900 Active 91 DOM
7. 2026-06-13
   days on market $99,900 Active 89 DOM
8. 2026-06-12
   days on market $99,900 Active 88 DOM
9. 2026-06-09
   days on market $99,900 Active 85 DOM
10. 2026-06-08
    days on market $99,900 Active 84 DOM
11. 2026-06-07
    days on market $99,900 Active 83 DOM
12. 2026-06-07
    days on market $99,900 Active 82 DOM
13. 2026-06-04
    days on market $99,900 Active 79 DOM
14. 2026-06-02
    days on market $99,900 Active 78 DOM
15. 2026-06-01
    days on market $99,900 Active 77 DOM
16. 2026-05-31
    days on market $99,900 Active 76 DOM
17. 2026-03-16
    listed $99,900 Active 651-char remark

    Show marketing remark (651 chars)

    A historical Nevada home. The current owners have some health issues, so the home doesn't show as well as they would like. It's a good solid house but needs refreshed. It has many positive features including central heat & air, hardwood floors, 2 car detached garage, lots of square footage, corner lot, deck, covered porch. .. It would be nice to see it freshly painted & changes made more fitting for the era of it's time to bring it back to it's glory! The owners have currently converted it into a 5 bedroom, but the wall & door that was added can easily be removed to open it back up. It has a flue from a woodstove in the past.

18. 2024-07-30
    historical
19. 2024-07-19
    listed $74,900 Active
20. 2018-07-02
    soldstatus $69,900
21. 2018-06-29
    soldstatus
22. 2018-05-01
    listed $69,900
23. 2015-06-03
    listed $69,900
24. 2012-03-23
    listed $78,500
25. 2009-04-21
    soldstatus
26. 2008-05-05
    listed $79,900
27. 1997-03-01
    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: $1,041 · $87/mo
• Projected year-2 tax: $1,041 · $87/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $12,469
• − Mortgage interest: −$5,596
• − Property taxes: −$1,041
• − Insurance: −$500
• − Repairs & maintenance: −$998
• − Management: −$998
• − Depreciation: −$2,906
• Taxable income: $431
• Est. tax owed @ 24.0%: −$104
• After-tax cash flow: $1,920/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: Nevada R-V
• NCES district ID: 2921840
• Math proficiency: 33% ▼ -1.00%
• Reading proficiency: 44% ▼ -1.00%
• Median HH income: $38,804
• Composite: 32.14/100
• National rank: #5792
• State rank: #180 of 324 in MO

Livability — Nevada

• Score: 59/100
• State rank: #519
• US rank: #19644

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nevada, MO
• Population (ZIP): 12,930

Population outlook (Vernon County) Hauer SSP2

• Today (2025): 20,169 people
• By 2030: 19,639 · -2.6%
• By 2040: 18,551 · -8.0%
• By 2050: 17,549 · -13.0%
• By 2075: 15,314 · -24.1%
• By 2100: 13,132 · -34.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3% Black 1% Asian 1%
• Common ancestry: Italian 3% Portuguese 2% Romanian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · Vernon

• 2024 margin: Solid R (+59.5) · D 19.8% · R 79.3%
• 2008→2024 swing: -37.5pp toward R · 2008: -22.0pp · 2024: -59.5pp
• All cycles: 2024: R+59.5 2020: R+57.2 2016: R+56.2 2012: R+37.3 2008: R+22.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.21%
• Current HPI: 150.7283
• 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

+25.0% since first listed

11 events — show timeline

• 2026-03-16 Listed $99,900 Heartland MLS as Distributed by MLS Grid
• 2024-07-30 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2024-07-19 Listed $74,900 Heartland MLS as Distributed by MLS Grid
• 2018-07-02 Sold (Public Records) $69,900 Public Records
• 2018-06-29 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2018-05-01 Listed $69,900 Heartland MLS as Distributed by MLS Grid
• 2015-06-03 Listed $69,900 Heartland MLS as Distributed by MLS Grid
• 2012-03-23 Listed $78,500 Heartland MLS as Distributed by MLS Grid
• 2009-04-21 Sold (Public Records) — Public Records
• 2008-05-05 Listed $79,900 Heartland MLS as Distributed by MLS Grid
• 1997-03-01 Sold (Public Records) — Public Records

Property tax history

+3.1%/yr

Latest (2025): $1,041 · +13.6% YoY. Source: county tax records.