256 E 2nd St · Marshfield, MO 65706

$129,900

2 bd · 1.0 ba · 996 sqft · MultiFamily · 1 Days on market

Built 1963 Fair condition 10,454 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Bundle offering of three single-family rentals in Marshfield producing a combined $2,455 per month in current rent, with established tenants in place and below-market rates providing upside at renewal. Lease terms in place across all three units: 523 S Elm leased at $730/month through 03/31/2026, 256 E 2nd leased at $875/month through 12/31/2025, and 427 E Bedford leased at $850/month through 06/30/2026. Properties are offered together as a package only. No tenant contact. Showings with accepted offer contingent on inspection.

Key facts

• Green space
• Convenient access
• Functional layout

Tags

• FUNCTIONAL LAYOUT
• CONVENIENT ACCESS
• NEARBY PARK
• GREEN SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $130k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 16.2% vs local median 2.7% in Marshfield — 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 70/100 on livability (#137 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment D+, amenities F, commute F.
• Marshfield R-I (town): math 32% / reading 39% proficiency, ranked #209 of 324 in MO (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Marshfield Early Learning Cntr (174 students, 35% FRL); Marshfield Jr. High (math 35% / reading 40%, grade F, #215 of 391 statewide, top 56%, 670 students, 45% FRL); Marshfield High (math 27% / reading 45%, grade F, #313 of 521 statewide, top 60%, 916 students, 40% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: 135 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 168 units permitted in Webster County in 2024 (24 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Webster County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $129,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.92% ✓
• Cap rate: 16.21%
• Cash-on-cash: 35.41%
• DSCR: 2.58
• GRM: 4.3

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: 31.0%
• Equity multiple: 2.30×
• Total profit: $47,350
• Equity at exit: $19,369

10-year hold

• IRR: 38.2%
• Equity multiple: 4.56×
• Total profit: $129,411
• Equity at exit: $11,231

Cash invested: $36,372 (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 65706

• Home prices YoY: -18.7%
• Active inventory: 135
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $2,495 medium
• Mortgage (P&I): −$681
• Tax est. 1.5%: −$162 /mo · $1,948/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$524
• Net cashflow: $1,073

Break-even live

Break-even rent $1,136

Max offer price $129,900

Occupancy floor 52%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$2,496
Total (3 units)			$2,495

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
301 W Maple St Unit 104 Marshfield, MO	2.0	1.0	900	$950	$1.06	44d	1	0.28mi
511 Church St Unit 207 Marshfield, MO	2.0	1.0	650	$725	$1.12	23d	1	1.38mi

Listing history 6 events

1. 2026-04-08
   status Pending
2. 2026-04-07
   listed $129,900 Active
3. 2026-04-03
   soldstatus Closed 532-char remark

   Show marketing remark (532 chars)

   Bundle offering of three single-family rentals in Marshfield producing a combined $2,455 per month in current rent, with established tenants in place and below-market rates providing upside at renewal. Lease terms in place across all three units: 523 S Elm leased at $730/month through 03/31/2026, 256 E 2nd leased at $875/month through 12/31/2025, and 427 E Bedford leased at $850/month through 06/30/2026. Properties are offered together as a package only. No tenant contact. Showings with accepted offer contingent on inspection.

4. 2026-01-11
   status Pending 532-char remark

   Show marketing remark (532 chars)

   Bundle offering of three single-family rentals in Marshfield producing a combined $2,455 per month in current rent, with established tenants in place and below-market rates providing upside at renewal. Lease terms in place across all three units: 523 S Elm leased at $730/month through 03/31/2026, 256 E 2nd leased at $875/month through 12/31/2025, and 427 E Bedford leased at $850/month through 06/30/2026. Properties are offered together as a package only. No tenant contact. Showings with accepted offer contingent on inspection.

5. 2026-01-06
   price $300,000 532-char remark

   Show marketing remark (532 chars)

   Bundle offering of three single-family rentals in Marshfield producing a combined $2,455 per month in current rent, with established tenants in place and below-market rates providing upside at renewal. Lease terms in place across all three units: 523 S Elm leased at $730/month through 03/31/2026, 256 E 2nd leased at $875/month through 12/31/2025, and 427 E Bedford leased at $850/month through 06/30/2026. Properties are offered together as a package only. No tenant contact. Showings with accepted offer contingent on inspection.

6. 2025-10-16
   listed $329,900 Active 532-char remark

   Show marketing remark (532 chars)

   Bundle offering of three single-family rentals in Marshfield producing a combined $2,455 per month in current rent, with established tenants in place and below-market rates providing upside at renewal. Lease terms in place across all three units: 523 S Elm leased at $730/month through 03/31/2026, 256 E 2nd leased at $875/month through 12/31/2025, and 427 E Bedford leased at $850/month through 06/30/2026. Properties are offered together as a package only. No tenant contact. Showings with accepted offer contingent on inspection.

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,940
• − Mortgage interest: −$7,276
• − Property taxes: −$1,948
• − Insurance: −$650
• − Repairs & maintenance: −$2,395
• − Management: −$2,395
• − Depreciation: −$3,779
• Taxable income: $11,496
• Est. tax owed @ 24.0%: −$2,759
• After-tax cash flow: $10,121/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

Fair 45/100 Moderate rehab

This home requires moderate repairs and updates to improve its condition and value. Exterior siding and interior walls need attention, and kitchen and bathroom updates would significantly enhance its appeal.

Repairs flagged

• Moderate Exterior siding — Weathered and minor peeling
• Minor Interior walls — Some discoloration and scuff marks

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace dated kitchen cabinets and countertops — Modernizes kitchen and improves functionality
• Both Replace dated bathroom fixtures — Enhances bathroom functionality and appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and minor peeling	Moderate	$3,000–15,000
Interior walls · Some discoloration and scuff marks	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace dated kitchen cabinets and countertops — Modernizes kitchen and improves functionality ↑
• Both Replace dated bathroom fixtures — Enhances bathroom functionality and appearance ↑

ⓘ 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: Marshfield R-I
• NCES district ID: 2920430
• Math proficiency: 32% ▼ -7.00%
• Reading proficiency: 39% ▼ -3.00%
• Median HH income: $44,061
• Composite: 30.17/100
• National rank: #6320
• State rank: #209 of 324 in MO

Livability — Marshfield

• Score: 70/100
• State rank: #137
• US rank: #7803

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marshfield, MO
• Population (ZIP): 17,479

Population outlook (Webster County) Hauer SSP2

• Today (2025): 39,400 people
• By 2030: 40,125 · +1.8%
• By 2040: 41,169 · +4.5%
• By 2050: 41,286 · +4.8%
• By 2075: 40,104 · +1.8%
• By 2100: 33,683 · -14.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 2% Black 2%
• Common ancestry: Slovak 2% Lithuanian 1% Iranian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Webster

• 2024 margin: Solid R (+62.2) · D 18.4% · R 80.7%
• 2008→2024 swing: -33.2pp toward R · 2008: -29.0pp · 2024: -62.2pp
• All cycles: 2024: R+62.2 2020: R+60.2 2016: R+57.9 2012: R+40.8 2008: R+29.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.05%
• Current HPI: 235.6143
• 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

-60.6% since first listed

6 events — show timeline

• 2026-04-08 Pending — SOMO
• 2026-04-07 Listed $129,900 SOMO
• 2026-04-03 Sold (MLS) — SOMO
• 2026-01-11 Pending — SOMO
• 2026-01-06 Price Changed $300,000 SOMO
• 2025-10-16 Listed $329,900 SOMO