1003 E Washington · Kirksville, MO 63501

$54,500

2 bd · 1.0 ba · 884 sqft · SingleFamily public records · 80 Days on market

Built 1920 5,832 sqft lot $62/sqft · 48% below area Est $106k · 48% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.4/5.0
• Rent growth +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A charming porch will welcome you into this recently updated home offering 2 bedrooms and 1 bath. Large backyard with storage building included. Call Zach Springer today at 660.341.2405 for a showing!

Key facts

• Charming porch
• Large backyard
• Storage building

Tags

• CHARMING PORCH
• LARGE BACKYARD
• STORAGE BUILDING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $54k.

Deal economics

• At list price, monthly cash flow is $342 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($865 rent vs $54k).
• Recommended offer: $51k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.8% vs local median 5.2% in Kirksville — 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 67/100 on livability (#211 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety B+; Watch: schools C-, crime D, amenities F.
• Kirksville R-III (town): math 31% / reading 45% proficiency, ranked #194 of 324 in MO (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.8%/yr); 234 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 18 units permitted in Adair County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($61k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $377 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.8% rent growth), your $15k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago 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.
• Current owner paid $15k; list at $54k implies a 263% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,230 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 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 1920 — 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: 1.59% ✓
• Cap rate: 13.81%
• Cash-on-cash: 26.86%
• DSCR: 2.20
• GRM: 5.2

CMA / ARV

• ARV (median comp): $105,510
• List price: $54,500
• Delta: -48.35%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
816 S Baltimore St	0.45mi	2/1.0	1,000 (+13%)	1mo	$149,000	$149	56
206 E Cottonwood St	0.55mi	2/1.0	932 (+5%)	24mo	$31,500	$34	45
813 N Florence	0.52mi	2/1.0	768 (-13%)	11mo	$68,000	$89	45

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

Projected returns pro-forma

-3.0% appreciation · 2.82% rent growth · sell at horizon

5-year hold

• IRR: 20.6%
• Equity multiple: 1.84×
• Total profit: $12,762
• Equity at exit: $8,126

10-year hold

• IRR: 28.6%
• Equity multiple: 3.52×
• Total profit: $38,457
• Equity at exit: $4,712

Cash invested: $15,260 (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 63501

• Home prices YoY: -31.5%
• Rents YoY: 2.8%
• Active inventory: 234
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $865 medium
• Mortgage (P&I): −$286
• Tax from tax record: −$33 /mo · $401/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$182
• Net cashflow: $342

Break-even live

Break-even rent $433

Max offer price $54,500

Occupancy floor 56%

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: $13,625
• Closing costs: $1,635
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
810 S Baltimore St Apt 4 Kirksville, MO	1.0	1.0	550	$1,500	$2.73	44d	1	0.44mi
202 E Jefferson St Kirksville, MO	1.0	1.0	537	$470	$0.87	44d	2	0.50mi
107 N Main St Apt 3 Kirksville, MO	1.0	1.0	650	$585	$0.90	44d	1	0.66mi

Listing history 22 events

1. 2026-06-19
   days on market $54,500 Active 80 DOM
2. 2026-06-18
   days on market $54,500 Active 79 DOM
3. 2026-06-17
   days on market $54,500 Active 78 DOM
4. 2026-06-16
   days on market $54,500 Active 77 DOM
5. 2026-06-15
   days on market $54,500 Active 76 DOM
6. 2026-06-14
   days on market $54,500 Active 74 DOM
7. 2026-06-12
   remarks 269-char remark
8. 2026-06-12
   days on market $54,500 Active 73 DOM
9. 2026-06-09
   days on market $54,500 Active 70 DOM
10. 2026-06-08
    days on market $54,500 Active 69 DOM
11. 2026-06-07
    days on market $54,500 Active 68 DOM
12. 2026-06-07
    days on market $54,500 Active 67 DOM
13. 2026-06-04
    days on market $54,500 Active 64 DOM
14. 2026-06-02
    days on market $54,500 Active 63 DOM
15. 2026-06-01
    days on market $54,500 Active 62 DOM
16. 2026-05-31
    days on market $54,500 Active 61 DOM
17. 2026-05-31
    days on market $54,500 Active 60 DOM
18. 2026-03-31
    listed $54,500 Active 200-char remark

    Show marketing remark (200 chars)

    A charming porch will welcome you into this recently updated home offering 2 bedrooms and 1 bath. Large backyard with storage building included. Call Zach Springer today at 660.341.2405 for a showing!

19. 2021-01-28
    soldstatus 133-char remark

    Show marketing remark (133 chars)

    This 2 bedroom, 1 bath bungalow is great for an investor or a starter home. This home features a great back yard and additional shed.

20. 2021-01-28
    soldstatus

    Show marketing remark (133 chars)

    This 2 bedroom, 1 bath bungalow is great for an investor or a starter home. This home features a great back yard and additional shed.

21. 2020-11-20
    listed $35,900 133-char remark

    Show marketing remark (133 chars)

    This 2 bedroom, 1 bath bungalow is great for an investor or a starter home. This home features a great back yard and additional shed.

22. 2001-05-01
    soldstatus $15,000

ⓘ 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: $401 · $33/mo
• Projected year-2 tax: $529 · $44/mo
• Expected delta: +$128/yr (+$11/mo · 31.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 15 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: $10,383
• − Mortgage interest: −$3,053
• − Property taxes: −$401
• − Insurance: −$272
• − Repairs & maintenance: −$831
• − Management: −$831
• − Depreciation: −$1,585
• Taxable income: $3,410
• Est. tax owed @ 24.0%: −$818
• After-tax cash flow: $3,281/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: Kirksville R-III
• NCES district ID: 2916740
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 45% ▼ -2.00%
• Median HH income: $33,570
• Composite: 31.21/100
• National rank: #6037
• State rank: #194 of 324 in MO

Livability — Kirksville

• Score: 67/100
• State rank: #211
• US rank: #10590

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kirksville, MO
• County: Adair County · 21,218 people
• City population: 21,218
• Metro: Kirksville, MO
• Population (ZIP): 21,218
• Household income: $60,729
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 702.0

Population outlook (Adair County) Hauer SSP2

• Today (2025): 25,570 people
• By 2030: 25,728 · +0.6%
• By 2040: 25,556 · -0.1%
• By 2050: 25,811 · +0.9%
• By 2075: 29,164 · +14.1%
• By 2100: 31,846 · +24.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 5% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 5% · Canada, Jamaica, South Korea
• Languages at home: 94% English-only · French/Haitian/Cajun 3% Spanish 2% Other Indo-European 1%

Political lean MEDSL · Adair

• 2024 margin: Solid R (+33.6) · D 32.6% · R 66.2% · Other 1.3%
• 2008→2024 swing: -32.3pp toward R · 2008: -1.3pp · 2024: -33.6pp
• All cycles: 2024: R+33.6 2020: R+26.2 2016: R+24.9 2012: R+14.1 2008: R+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.58%
• Current HPI: 168.7332
• Rent YoY: ▲ 2.82%
• Metro: Kirksville, MO
• 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

+263.3% since first listed

5 events — show timeline

• 2026-03-31 Listed $54,500 NECAR
• 2021-01-28 Sold (Public Records) — Public Records
• 2021-01-28 Sold (MLS) — NECAR
• 2020-11-20 Listed $35,900 NECAR
• 2001-05-01 Sold (Public Records) $15,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $401 · +9.2% YoY. Source: county tax records.