117 W Main St · Ash Grove, MO 65604

$179,900

4 bd · 2.5 ba · 2,893 sqft · Townhouse · 72 Days on market

Built 1898 Good condition 3,920 sqft lot ↓ 10% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Schools +3.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Historic Main Street in Ash Grove, Missouri! This four non-conventional bed, two and a half bath building was originally built in 1898 in the boom of the town's rail road. This remodeled spacious nearly 2,900 square foot home offers so much character and comfort. Luxury walk-in shower and skylights, garage and patio space. Easy access to restaurants and shopping, you gain creature comforts in small town life. Entering the home from Main Street you find yourself in a spacious foyer before entering into a large living room with tons of character and an open concept kitchen. Two bedrooms and one spacious master bedroom attach to the main house with a separate apartment style living suite to accommodate guests, serve as an office or creative space. Floors have a mix of tile, carpet and hardwood. The main bathroom boasts beautiful wood paneling, multi head walk in shower and skylights to allow natural sun. Main room has detailed tin ceilings with skylight accents and two one of a kind fans serve function and aesthetic above. Large storage areas to serve as a pantry or other functionality. Nice garage included in the building with a well kept outdoor patio seating area. Located in Ash Grove School Districts, this historic piece of Ash Grove, Missouri offers endless possibilities.

Key facts

• Large storage areas
• Skylights
• Garage

Tags

• REMODELED SPACIOUS HOME
• LUXURY WALK-IN SHOWER
• SKYLIGHTS
• DETAILED TIN CEILINGS
• LARGE STORAGE AREAS
• OUTDOOR PATIO SEATING AREA

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath townhouse listed at $180k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $771 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 5.4% in Ash Grove — 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 61/100 on livability (#435 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, crime C-, amenities F.
• Ash Grove R-IV (rural): math 33% / reading 50% proficiency, ranked #121 of 324 in MO (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 60 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,302 units permitted in Greene County in 2024 (250 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.
• Greene County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1898 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 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 1898 — 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. 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.
6. 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.
7. 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: 1.42% ✓
• Cap rate: 11.44%
• Cash-on-cash: 18.37%
• DSCR: 1.82
• GRM: 5.9

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: 10.1%
• Equity multiple: 1.40×
• Total profit: $20,008
• Equity at exit: $26,824

10-year hold

• IRR: 19.2%
• Equity multiple: 2.60×
• Total profit: $80,831
• Equity at exit: $15,554

Cash invested: $50,372 (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 65604

• Home prices YoY: -13.1%
• Active inventory: 60
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,550 medium
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $771

Break-even live

Break-even rent $1,574

Max offer price $179,900

Occupancy floor 65%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
402 Coyote Pass Ash Grove, MO	4.0	2.0	2157	$2,550	$1.18	13d	1	0.49mi

Listing history 16 events

1. 2026-06-18
   days on market $179,900 Active 72 DOM
2. 2026-06-17
   days on market $179,900 Active 71 DOM
3. 2026-06-16
   days on market $179,900 Active 70 DOM
4. 2026-06-15
   days on market $179,900 Active 69 DOM
5. 2026-06-14
   days on market $179,900 Active 67 DOM
6. 2026-06-10
   days on market $179,900 Active 64 DOM
7. 2026-06-09
   days on market $179,900 Active 63 DOM
8. 2026-06-08
   days on market $179,900 Active 62 DOM
9. 2026-06-07
   days on market $179,900 Active 61 DOM
10. 2026-06-03
    days on market $179,900 Active 57 DOM
11. 2026-06-02
    days on market $179,900 Active 56 DOM
12. 2026-06-01
    days on market $179,900 Active 55 DOM
13. 2026-05-31
    days on market $179,900 Active 54 DOM
14. 2026-05-30
    days on market $179,900 Active 53 DOM
15. 2026-05-02
    price $179,900 1294-char remark

    Show marketing remark (1294 chars)

    Historic Main Street in Ash Grove, Missouri! This four non-conventional bed, two and a half bath building was originally built in 1898 in the boom of the town's rail road. This remodeled spacious nearly 2,900 square foot home offers so much character and comfort. Luxury walk-in shower and skylights, garage and patio space. Easy access to restaurants and shopping, you gain creature comforts in small town life. Entering the home from Main Street you find yourself in a spacious foyer before entering into a large living room with tons of character and an open concept kitchen. Two bedrooms and one spacious master bedroom attach to the main house with a separate apartment style living suite to accommodate guests, serve as an office or creative space. Floors have a mix of tile, carpet and hardwood. The main bathroom boasts beautiful wood paneling, multi head walk in shower and skylights to allow natural sun. Main room has detailed tin ceilings with skylight accents and two one of a kind fans serve function and aesthetic above. Large storage areas to serve as a pantry or other functionality. Nice garage included in the building with a well kept outdoor patio seating area. Located in Ash Grove School Districts, this historic piece of Ash Grove, Missouri offers endless possibilities.

16. 2026-04-08
    listed $199,000 Active 1294-char remark

    Show marketing remark (1294 chars)

    Historic Main Street in Ash Grove, Missouri! This four non-conventional bed, two and a half bath building was originally built in 1898 in the boom of the town's rail road. This remodeled spacious nearly 2,900 square foot home offers so much character and comfort. Luxury walk-in shower and skylights, garage and patio space. Easy access to restaurants and shopping, you gain creature comforts in small town life. Entering the home from Main Street you find yourself in a spacious foyer before entering into a large living room with tons of character and an open concept kitchen. Two bedrooms and one spacious master bedroom attach to the main house with a separate apartment style living suite to accommodate guests, serve as an office or creative space. Floors have a mix of tile, carpet and hardwood. The main bathroom boasts beautiful wood paneling, multi head walk in shower and skylights to allow natural sun. Main room has detailed tin ceilings with skylight accents and two one of a kind fans serve function and aesthetic above. Large storage areas to serve as a pantry or other functionality. Nice garage included in the building with a well kept outdoor patio seating area. Located in Ash Grove School Districts, this historic piece of Ash Grove, Missouri offers endless possibilities.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $30,600
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$2,448
• − Management: −$2,448
• − Depreciation: −$5,233
• Taxable income: $6,795
• Est. tax owed @ 24.0%: −$1,631
• After-tax cash flow: $7,624/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This charming townhouse in Ash Grove, Missouri, offers a good condition with minimal repairs needed. It's a great investment opportunity with potential for both resale and rental value.

Value-add opportunities

• Resale Paint interior walls — Fresh paint can enhance the home's curb appeal and make it more inviting.
• Rental Clean and maintain HVAC system — A clean and well-maintained HVAC system ensures comfort and reduces maintenance costs for tenants.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint interior walls — Fresh paint can enhance the home's curb appeal and make it more inviting. ↑
• Rental Clean and maintain HVAC system — A clean and well-maintained HVAC system ensures comfort and reduces maintenance costs for tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Ash Grove R-IV
• NCES district ID: 2903270
• Math proficiency: 33% ▼ -7.00%
• Reading proficiency: 50% ▲ 1.00%
• Median HH income: $47,679
• Composite: 35.45/100
• National rank: #4929
• State rank: #121 of 324 in MO

Livability — Ash Grove

• Score: 61/100
• State rank: #435
• US rank: #17867

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ash Grove, MO
• Population (ZIP): 3,909

Population outlook (Greene County) Hauer SSP2

• Today (2025): 319,054 people
• By 2030: 335,135 · +5.0%
• By 2040: 366,186 · +14.8%
• By 2050: 397,431 · +24.6%
• By 2075: 477,035 · +49.5%
• By 2100: 520,828 · +63.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Greene

• 2024 margin: Strong R (+20.8) · D 38.9% · R 59.7% · Other 1.4%
• 2008→2024 swing: -5.0pp toward R · 2008: -15.8pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+20.1 2016: R+27.4 2012: R+24.4 2008: R+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -34.86%
• Current HPI: 231.5643
• 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

-9.6% since first listed

2 events — show timeline

• 2026-05-02 Price Changed $179,900 SOMO
• 2026-04-08 Listed $199,000 SOMO