218 S Market St · Milan, MO 63556

$125,000

3 bd · 1.5 ba · 1,330 sqft · SingleFamily · 62 Days on market

Built 1925 0.28 ac lot $94/sqft · 20% below area Est $156k · 20% under

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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 +18.2/30.0
• ARV discount +15.0/15.0
• Appreciation +6.6/10.0
• DSCR +5.7/10.0
• 1% rule +3.7/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Move in Ready 3 Bedroom Home Close to School and Town Center Welcome to this inviting 3 bedroom, 1 1/2 bath home offering comfort, convenience, and character. Perfectly located near the local school and within walking distance to the town center, this property blends small-town charm with everyday practicality. Inside, you'll find a spacious layout featuring a bright living room with a gas fireplace, a cozy family room, and a dining room open to the kitchen that comes fully equipped with all appliances, making it move in ready. A dedicated laundry room adds extra functionality and convenience. Outside, enjoy 2 full lots of yard space with plenty of potential for gardens or outdoor entertaining. There is a metal shed for storage, a single carport and a yard swing to enjoy the spacious lawn. This well-maintained home is a wonderful option for families, first-time buyers, or anyone looking to the ease of in-town living.

Key facts

• Close to school
• Gas fireplace
• Single carport

Tags

• MOVE IN READY
• CLOSE TO SCHOOL
• GAS FIREPLACE
• DEDICATED LAUNDRY ROOM
• 2 FULL LOTS
• SINGLE CARPORT

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $111 ($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 $108k (13.5% below list).
• Recommended offer: $108k (13.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#305 in MO) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, schools F, amenities F.
• Milan C-2 (rural): math 29% / reading 37% proficiency, ranked #245 of 324 in MO (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 48 active listings in the ZIP.

Forward outlook

• In year one you build about $5k of equity ($864 loan paydown + $4k appreciation (3.2% local appreciation)).
• Sullivan County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,181 (13.5% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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 F-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. 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: 0.87% ✗
• Cap rate: 7.36%
• Cash-on-cash: 3.82%
• DSCR: 1.17
• GRM: 9.6

CMA / ARV

• ARV (median comp): $156,000
• List price: $125,000
• Delta: -19.87%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
620 W Page St	0.46mi	4/2.5 (+1)	1,155 (-13%)	12mo	$154,000	$133	38

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

Projected returns pro-forma

3.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.6%
• Equity multiple: 1.67×
• Total profit: $23,428
• Equity at exit: $57,618

10-year hold

• IRR: 13.6%
• Equity multiple: 3.05×
• Total profit: $71,757
• Equity at exit: $89,910

Cash invested: $35,000 (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 63556

• Home prices YoY: 2.9%
• Active inventory: 48
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,082 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$36 /mo · $427/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $111

Break-even live

Break-even rent $941

Max offer price $125,000

Occupancy floor 85%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $125,000 Active 62 DOM
2. 2026-06-17
   days on market $125,000 Active 61 DOM
3. 2026-06-16
   days on market $125,000 Active 60 DOM
4. 2026-06-15
   days on market $125,000 Active 59 DOM
5. 2026-06-13
   days on market $125,000 Active 57 DOM
6. 2026-06-12
   days on market $125,000 Active 56 DOM
7. 2026-06-09
   days on market $125,000 Active 53 DOM
8. 2026-06-08
   days on market $125,000 Active 52 DOM
9. 2026-06-07
   days on market $125,000 Active 51 DOM
10. 2026-06-05
    days on market $125,000 Active 49 DOM
11. 2026-06-04
    days on market $125,000 Active 47 DOM
12. 2026-06-02
    days on market $125,000 Active 46 DOM
13. 2026-06-01
    days on market $125,000 Active 45 DOM
14. 2026-05-31
    days on market $125,000 Active 44 DOM
15. 2026-04-14
    listed $149,000 Active 931-char remark

    Show marketing remark (931 chars)

    Move in Ready 3 Bedroom Home Close to School and Town Center Welcome to this inviting 3 bedroom, 1 1/2 bath home offering comfort, convenience, and character. Perfectly located near the local school and within walking distance to the town center, this property blends small-town charm with everyday practicality. Inside, you'll find a spacious layout featuring a bright living room with a gas fireplace, a cozy family room, and a dining room open to the kitchen that comes fully equipped with all appliances, making it move in ready. A dedicated laundry room adds extra functionality and convenience. Outside, enjoy 2 full lots of yard space with plenty of potential for gardens or outdoor entertaining. There is a metal shed for storage, a single carport and a yard swing to enjoy the spacious lawn. This well-maintained home is a wonderful option for families, first-time buyers, or anyone looking to the ease of in-town living.

ⓘ 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: $427 · $36/mo
• Projected year-2 tax: $1,212 · $101/mo
• Expected delta: +$786/yr (+$65/mo · 184.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $12,982
• − Mortgage interest: −$7,002
• − Property taxes: −$427
• − Insurance: −$625
• − Repairs & maintenance: −$1,039
• − Management: −$1,039
• − Depreciation: −$3,636
• Taxable loss: −$785
• Est. tax savings @ 24.0%: +$188
• After-tax cash flow: $1,526/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: Milan C-2
• NCES district ID: 2920940
• Math proficiency: 29% ▼ -2.00%
• Reading proficiency: 37% ▲ 5.00%
• Median HH income: $38,588
• Composite: 27.57/100
• National rank: #6941
• State rank: #245 of 324 in MO

Livability — Milan

• Score: 64/100
• State rank: #305
• US rank: #13979

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Milan, MO
• Population (ZIP): 3,279

Population outlook (Sullivan County) Hauer SSP2

• Today (2025): 5,679 people
• By 2030: 5,360 · -5.6%
• By 2040: 4,773 · -16.0%
• By 2050: 4,303 · -24.2%
• By 2075: 3,645 · -35.8%
• By 2100: 3,225 · -43.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 28% Two or more races 10% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 15% Puerto Rican 3%
• Common ancestry: Slovak 2% Iranian 1% Italian 1%
• Foreign-born: 15% · Canada
• Languages at home: 74% English-only · Spanish 23% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · Sullivan

• 2024 margin: Solid R (+66.0) · D 16.6% · R 82.6%
• 2008→2024 swing: -50.9pp toward R · 2008: -15.1pp · 2024: -66.0pp
• All cycles: 2024: R+66.0 2020: R+60.5 2016: R+54.7 2012: R+27.1 2008: R+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.20%
• Current HPI: 114.3731
• 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

1 event — show timeline

• 2026-04-14 Listed $149,000 WCAR

Property tax history

+1.6%/yr

Latest (2025): $427 · -1.4% YoY. Source: county tax records.