2101 Spruce St · Hannibal, MO 63401

$84,500

2 bd · 1.0 ba · 1,176 sqft · Other public records · 73 Days on market

Built 1900 3,615 sqft lot $72/sqft · 106% above area

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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 +28.6/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great curb appeal in this move-in ready three bedroom one bathroom home on a corner lot. Featuring updated kitchen and bathroom plus new carpet and flooring. An added bonus is off street parking slab in the backyard and central heating and air. This is a great starter home - Call today for your appointment!

Key facts

• 3,615 sq ft lot
• Built 1900
• Listed 72 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $84k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Recommended offer: $79k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 3.4% in Hannibal — 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 73/100 on livability (#81 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, crime D, employment D.
• Hannibal 60 (town): math 38% / reading 44% proficiency, ranked #142 of 324 in MO (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 108 active listings in the ZIP; 38 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $584 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Marion County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $15k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,430 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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: 1.19% ✓
• Cap rate: 10.26%
• Cash-on-cash: 14.17%
• DSCR: 1.63
• GRM: 7.0

CMA / ARV

• ARV (median comp): $41,045
• List price: $84,500
• Delta: 105.87%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 4.5%
• Equity multiple: 1.17×
• Total profit: $4,078
• Equity at exit: $12,599

10-year hold

• IRR: 13.9%
• Equity multiple: 2.11×
• Total profit: $26,354
• Equity at exit: $7,306

Cash invested: $23,660 (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 63401

• Home prices YoY: -32.9%
• Active inventory: 108
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,003 medium
• Mortgage (P&I): −$443
• Tax from tax record: −$34 /mo · $411/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $279

Break-even live

Break-even rent $649

Max offer price $84,500

Occupancy floor 67%

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: $21,125
• Closing costs: $2,535
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $84,500 Active 73 DOM
2. 2026-06-17
   days on market $84,500 Active 72 DOM
3. 2026-06-16
   days on market $84,500 Active 71 DOM
4. 2026-06-15
   days on market $84,500 Active 70 DOM
5. 2026-06-13
   days on market $84,500 Active 68 DOM
6. 2026-06-12
   days on market $84,500 Active 67 DOM
7. 2026-06-09
   days on market $84,500 Active 64 DOM
8. 2026-06-08
   days on market $84,500 Active 63 DOM
9. 2026-06-07
   pricedays on market $84,500 Active 62 DOM
10. 2026-06-04
    days on market $89,500 Active 58 DOM
11. 2026-06-02
    days on market $89,500 Active 57 DOM
12. 2026-06-01
    days on market $89,500 Active 56 DOM
13. 2026-05-31
    days on market $89,500 Active 55 DOM
14. 2026-04-30
    price $94,500 308-char remark

    Show marketing remark (308 chars)

    Great curb appeal in this move-in ready three bedroom one bathroom home on a corner lot. Featuring updated kitchen and bathroom plus new carpet and flooring. An added bonus is off street parking slab in the backyard and central heating and air. This is a great starter home - Call today for your appointment!

15. 2026-04-06
    listed $99,500 Active 308-char remark

    Show marketing remark (308 chars)

    Great curb appeal in this move-in ready three bedroom one bathroom home on a corner lot. Featuring updated kitchen and bathroom plus new carpet and flooring. An added bonus is off street parking slab in the backyard and central heating and air. This is a great starter home - Call today for your appointment!

16. 2025-12-16
    soldstatus
17. 2025-12-12
    soldstatus Closed 340-char remark

    Show marketing remark (340 chars)

    This 2/3 bedroom home sits on a corner lot located on Hayden and Spruce St. There is off street parking and access from an alley. The laundry is located on the main level. The large kitchen offers a space for a small table. A little freshing up and this could be a great investment property or a single family residence. NEW roof 2023.

18. 2025-12-01
    status Pending 340-char remark

    Show marketing remark (340 chars)

    This 2/3 bedroom home sits on a corner lot located on Hayden and Spruce St. There is off street parking and access from an alley. The laundry is located on the main level. The large kitchen offers a space for a small table. A little freshing up and this could be a great investment property or a single family residence. NEW roof 2023.

19. 2025-11-04
    price $42,000 340-char remark

    Show marketing remark (340 chars)

    This 2/3 bedroom home sits on a corner lot located on Hayden and Spruce St. There is off street parking and access from an alley. The laundry is located on the main level. The large kitchen offers a space for a small table. A little freshing up and this could be a great investment property or a single family residence. NEW roof 2023.

20. 2025-09-19
    listed $49,000 Active 340-char remark

    Show marketing remark (340 chars)

    This 2/3 bedroom home sits on a corner lot located on Hayden and Spruce St. There is off street parking and access from an alley. The laundry is located on the main level. The large kitchen offers a space for a small table. A little freshing up and this could be a great investment property or a single family residence. NEW roof 2023.

21. 2025-09-19
    historical $49,000 340-char remark

    Show marketing remark (340 chars)

    This 2/3 bedroom home sits on a corner lot located on Hayden and Spruce St. There is off street parking and access from an alley. The laundry is located on the main level. The large kitchen offers a space for a small table. A little freshing up and this could be a great investment property or a single family residence. NEW roof 2023.

22. 2018-07-30
    soldstatus
23. 2018-07-27
    soldstatus
24. 2018-06-04
    listed $6,500

ⓘ 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: $411 · $34/mo
• Projected year-2 tax: $820 · $68/mo
• Expected delta: +$409/yr (+$34/mo · 99.5%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 19 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: $12,031
• − Mortgage interest: −$4,733
• − Property taxes: −$411
• − Insurance: −$422
• − Repairs & maintenance: −$962
• − Management: −$962
• − Depreciation: −$2,458
• Taxable income: $2,081
• Est. tax owed @ 24.0%: −$499
• After-tax cash flow: $2,854/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: Hannibal 60
• NCES district ID: 2913650
• Math proficiency: 38% ▼ -8.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $40,349
• Composite: 34.39/100
• National rank: #5208
• State rank: #142 of 324 in MO

Livability — Hannibal

• Score: 73/100
• State rank: #81
• US rank: #5358

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hannibal, MO
• Population (ZIP): 21,125

Population outlook (Marion County) Hauer SSP2

• Today (2025): 28,640 people
• By 2030: 28,432 · -0.7%
• By 2040: 27,597 · -3.6%
• By 2050: 26,203 · -8.5%
• By 2075: 21,931 · -23.4%
• By 2100: 15,765 · -45.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 6% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Romanian 1% Italian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Marion

• 2024 margin: Solid R (+52.9) · D 23.1% · R 76.0%
• 2008→2024 swing: -29.0pp toward R · 2008: -23.9pp · 2024: -52.9pp
• All cycles: 2024: R+52.9 2020: R+50.3 2016: R+49.8 2012: R+32.0 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.01%
• Current HPI: 189.6907
• 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

+1353.8% since first listed

11 events — show timeline

• 2026-04-30 Price Changed $94,500 MARIS as Distributed by MLS Grid
• 2026-04-06 Listed $99,500 MARIS as Distributed by MLS Grid
• 2025-12-16 Sold (Public Records) — Public Records
• 2025-12-12 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2025-12-01 Pending — MARIS as Distributed by MLS Grid
• 2025-11-04 Price Changed $42,000 MARIS as Distributed by MLS Grid
• 2025-09-19 Listed $49,000 MARIS as Distributed by MLS Grid
• 2025-09-19 Coming Soon $49,000 MARIS as Distributed by MLS Grid
• 2018-07-30 Sold (Public Records) — Public Records
• 2018-07-27 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2018-06-04 Listed $6,500 MARIS as Distributed by MLS Grid

Property tax history

+2.8%/yr

Latest (2025): $411 · +6.7% YoY. Source: county tax records.