1235 W State Route 17 · Houston, MO 65483

$140,000

4 bd · 2.0 ba · 1,256 sqft · Other public records · 360 Days on market

Built 1950 0.86 ac lot $111/sqft · at area comps Est $170k · 18% under ↓ 7% since listing

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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 +18.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• 1% rule +3.8/10.0
• Livability +2.7/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This spacious 4-bedroom, 2-bath home sits on a large, beautiful double lot offering plenty of outdoor space to enjoy. The property features a bright sunroom, a back deck perfect for relaxing, and a newer roof just 5 years old. A standout feature is the 30x40 insulated shop, built in 2017, complete with two office spaces, a 10x30 loft, and plumbing ready for a full bathroom--ideal for work-from-home needs or small business use. The shop also includes a security system and a central drain in the floor. While the home itself does need some work, it offers great bones and tons of potential for customization. Whether you're looking for a fixer-upper or an investment opportunity, this property could be the perfect fit!

Key facts

• Double lot
• 10x30 loft
• Back deck

Tags

• DOUBLE LOT
• BRIGHT SUNROOM
• BACK DECK
• 30X40 INSULATED SHOP
• TWO OFFICE SPACES
• 10X30 LOFT

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $140k.

Deal economics

• At list price, monthly cash flow is $122 ($1k/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 $124k (11.7% below list).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 4.0% in Houston — 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 53/100 on livability (#824 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: schools D-, crime F, amenities F.
• Houston R-I (rural): math 24% / reading 39% proficiency, ranked #266 of 324 in MO (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 90 active listings in the ZIP; 10 units permitted in Texas County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Texas County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 360 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 360 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 1950 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.88% ✗
• Cap rate: 7.34%
• Cash-on-cash: 3.74%
• DSCR: 1.17
• GRM: 9.4

CMA / ARV

• ARV (median comp): $170,462
• List price: $140,000
• Delta: -17.87%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -10.5%
• Equity multiple: 0.62×
• Total profit: $-14,963
• Equity at exit: $20,874

10-year hold

• IRR: -1.2%
• Equity multiple: 0.92×
• Total profit: $-3,224
• Equity at exit: $12,105

Cash invested: $39,200 (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 65483

• Home prices YoY: -8.5%
• Active inventory: 90
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,237 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$63 /mo · $751/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $122

Break-even live

Break-even rent $1,082

Max offer price $140,000

Occupancy floor 85%

Sensitivity live

Price	-10% $201	-5% $162	+0% $122	+5% $82	+10% $43
Rent	-10% $24	-5% $73	+0% $122	+5% $171	+10% $220
Rate	-1.0pp $193	-0.5pp $158	base $122	+0.5pp $86	+1.0pp $49

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $140,000 Active 360 DOM
2. 2026-06-18
   days on market $140,000 Active 358 DOM
3. 2026-06-17
   days on market $140,000 Active 357 DOM
4. 2026-06-16
   days on market $140,000 Active 356 DOM
5. 2026-06-15
   days on market $140,000 Active 355 DOM
6. 2026-06-13
   days on market $140,000 Active 353 DOM
7. 2026-06-12
   days on market $140,000 Active 352 DOM
8. 2026-06-09
   days on market $140,000 Active 349 DOM
9. 2026-06-08
   days on market $140,000 Active 348 DOM
10. 2026-06-07
    days on market $140,000 Active 347 DOM
11. 2026-06-07
    days on market $140,000 Active 346 DOM
12. 2026-06-04
    days on market $140,000 Active 343 DOM
13. 2026-06-02
    days on market $140,000 Active 342 DOM
14. 2026-06-01
    days on market $140,000 Active 341 DOM
15. 2026-05-31
    days on market $140,000 Active 340 DOM
16. 2026-03-17
    status Active 722-char remark

    Show marketing remark (722 chars)

    This spacious 4-bedroom, 2-bath home sits on a large, beautiful double lot offering plenty of outdoor space to enjoy. The property features a bright sunroom, a back deck perfect for relaxing, and a newer roof just 5 years old. A standout feature is the 30x40 insulated shop, built in 2017, complete with two office spaces, a 10x30 loft, and plumbing ready for a full bathroom--ideal for work-from-home needs or small business use. The shop also includes a security system and a central drain in the floor. While the home itself does need some work, it offers great bones and tons of potential for customization. Whether you're looking for a fixer-upper or an investment opportunity, this property could be the perfect fit!

17. 2026-03-11
    status Pending 722-char remark

    Show marketing remark (722 chars)

    This spacious 4-bedroom, 2-bath home sits on a large, beautiful double lot offering plenty of outdoor space to enjoy. The property features a bright sunroom, a back deck perfect for relaxing, and a newer roof just 5 years old. A standout feature is the 30x40 insulated shop, built in 2017, complete with two office spaces, a 10x30 loft, and plumbing ready for a full bathroom--ideal for work-from-home needs or small business use. The shop also includes a security system and a central drain in the floor. While the home itself does need some work, it offers great bones and tons of potential for customization. Whether you're looking for a fixer-upper or an investment opportunity, this property could be the perfect fit!

18. 2025-08-29
    price $140,000 722-char remark

    Show marketing remark (722 chars)

    This spacious 4-bedroom, 2-bath home sits on a large, beautiful double lot offering plenty of outdoor space to enjoy. The property features a bright sunroom, a back deck perfect for relaxing, and a newer roof just 5 years old. A standout feature is the 30x40 insulated shop, built in 2017, complete with two office spaces, a 10x30 loft, and plumbing ready for a full bathroom--ideal for work-from-home needs or small business use. The shop also includes a security system and a central drain in the floor. While the home itself does need some work, it offers great bones and tons of potential for customization. Whether you're looking for a fixer-upper or an investment opportunity, this property could be the perfect fit!

19. 2025-06-19
    listed $150,000 Active 722-char remark

    Show marketing remark (722 chars)

    This spacious 4-bedroom, 2-bath home sits on a large, beautiful double lot offering plenty of outdoor space to enjoy. The property features a bright sunroom, a back deck perfect for relaxing, and a newer roof just 5 years old. A standout feature is the 30x40 insulated shop, built in 2017, complete with two office spaces, a 10x30 loft, and plumbing ready for a full bathroom--ideal for work-from-home needs or small business use. The shop also includes a security system and a central drain in the floor. While the home itself does need some work, it offers great bones and tons of potential for customization. Whether you're looking for a fixer-upper or an investment opportunity, this property could be the perfect fit!

ⓘ 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: $751 · $63/mo
• Projected year-2 tax: $1,358 · $113/mo
• Expected delta: +$607/yr (+$51/mo · 80.9%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $14,842
• − Mortgage interest: −$7,842
• − Property taxes: −$751
• − Insurance: −$700
• − Repairs & maintenance: −$1,187
• − Management: −$1,187
• − Depreciation: −$4,073
• Taxable loss: −$898
• Est. tax savings @ 24.0%: +$216
• After-tax cash flow: $1,680/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: Houston R-I
• NCES district ID: 2914840
• Math proficiency: 24% ▼ -2.00%
• Reading proficiency: 39% ▬ 0.00%
• Median HH income: $34,169
• Composite: 25.88/100
• National rank: #7344
• State rank: #266 of 324 in MO

Livability — Houston

• Score: 53/100
• State rank: #824
• US rank: #24484

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Houston, MO
• Population (ZIP): 4,607

Population outlook (Texas County) Hauer SSP2

• Today (2025): 24,648 people
• By 2030: 23,981 · -2.7%
• By 2040: 22,840 · -7.3%
• By 2050: 21,832 · -11.4%
• By 2075: 19,481 · -21.0%
• By 2100: 16,634 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Danish 2% Iranian 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Tagalog/Filipino 1% German/W. Germanic 1%

Political lean MEDSL · Texas

• 2024 margin: Solid R (+71.7) · D 13.8% · R 85.5%
• 2008→2024 swing: -36.7pp toward R · 2008: -35.1pp · 2024: -71.7pp
• All cycles: 2024: R+71.7 2020: R+68.6 2016: R+65.4 2012: R+44.1 2008: R+35.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -20.78%
• Current HPI: 224.0504
• 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

-6.7% since first listed

4 events — show timeline

• 2026-03-17 Relisted — SOMO
• 2026-03-11 Pending — SOMO
• 2025-08-29 Price Changed $140,000 SOMO
• 2025-06-19 Listed $150,000 SOMO

Property tax history

+7.7%/yr

Latest (2025): $751 · -0.7% YoY. Source: county tax records.