510 Carhart St · Alton, MO 65606

$99,900

3 bd · 1.0 ba · 1,644 sqft · Other public records · 67 Days on market

Built 1940 0.33 ac lot $61/sqft · 23% below area Est $130k · 23% under ↓ 12% 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 +29.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +7.3/10.0
• 1% rule +6.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

Charming Ozarks Home on Two City Lots This 3-bedroom, 1-bath home with a bonus room offers space, character, and value in the heart of the Missouri Ozarks. Situated on two city lots, the property features low-maintenance vinyl siding and a durable metal roof for long-term peace of mind. Inside, you will find a welcoming layout with an eat-in kitchen, dining area, and included appliances, making it move-in ready. Central heat and air provide year-round comfort, while original wood floors and wood accents add charm. The enclosed carport serves as a fourth bedroom but could easily be a second living area or office. Enjoy outdoor living with a covered front porch and large screened-in side porch. Two outbuildings offer extra storage, and paved parking provides convenience. Located near the Mark Twain National Forest, Eleven Point River, and Spring River, this affordable property is perfect as a starter home or investment.

Key facts

• Metal roof
• Central heat and air
• Vinyl siding

Tags

• TWO CITY LOTS
• VINYL SIDING
• METAL ROOF
• EAT-IN KITCHEN
• INCLUDED APPLIANCES
• CENTRAL HEAT AND AIR

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $100k.

Deal economics

• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 4.1% in Alton — 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 (#441 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: commute D, schools F, crime F.
• Alton R-IV (rural): math 18% / reading 37% proficiency, ranked #283 of 324 in MO (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 61 active listings in the ZIP; 5 units permitted in Oregon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($691 loan paydown + $5k appreciation (4.6% local appreciation)).
• Oregon County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 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 1940 — 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. 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: 1.19% ✓
• Cap rate: 10.43%
• Cash-on-cash: 14.77%
• DSCR: 1.66
• GRM: 7.0

CMA / ARV

• ARV (median comp): $129,597
• List price: $99,900
• Delta: -22.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

4.62% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.8%
• Equity multiple: 2.53×
• Total profit: $42,773
• Equity at exit: $54,330

10-year hold

• IRR: 24.3%
• Equity multiple: 4.98×
• Total profit: $111,348
• Equity at exit: $91,933

Cash invested: $27,972 (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 65606

• Home prices YoY: 3.4%
• Active inventory: 61
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,193 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$33 /mo · $394/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $344

Break-even live

Break-even rent $757

Max offer price $99,900

Occupancy floor 66%

Sensitivity live

Price	-10% $401	-5% $373	+0% $344	+5% $316	+10% $288
Rent	-10% $250	-5% $297	+0% $344	+5% $391	+10% $439
Rate	-1.0pp $395	-0.5pp $370	base $344	+0.5pp $318	+1.0pp $292

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $99,900 Active 67 DOM
2. 2026-06-18
   days on market $99,900 Active 65 DOM
3. 2026-06-17
   days on market $99,900 Active 64 DOM
4. 2026-06-16
   days on market $99,900 Active 63 DOM
5. 2026-06-15
   days on market $99,900 Active 62 DOM
6. 2026-06-13
   days on market $99,900 Active 60 DOM
7. 2026-06-12
   days on market $99,900 Active 59 DOM
8. 2026-06-09
   days on market $99,900 Active 56 DOM
9. 2026-06-08
   days on market $99,900 Active 55 DOM
10. 2026-06-07
    days on market $99,900 Active 54 DOM
11. 2026-06-07
    days on market $99,900 Active 53 DOM
12. 2026-06-04
    statusdays on market $99,900 Active 50 DOM
13. 2026-06-02
    days on market $99,900 Price Change 49 DOM
14. 2026-06-01
    days on market $99,900 Price Change 48 DOM
15. 2026-05-31
    days on market $99,900 Price Change 47 DOM
16. 2026-04-13
    listed $105,000 New Listing 932-char remark

    Show marketing remark (1595 chars)

    Charming Ozarks Home on Two City Lots Near Outdoor RecreationTake a look at this spacious and inviting 3-bedroom, 1-bath home with a bonus room set on two city lots in the heart of the Missouri Ozarks. Updated with low-maintenance vinyl siding and a durable metal roof, this property offers long-term value and peace of mind. Inside, you will find a comfortable layout filled with natural light, featuring an eat-in kitchen with a convenient pass-through to the dining area. Included appliances such as the electric range, refrigerator, washer, and dryer make this home truly move-in ready. Central heat and air provide year-round comfort, while original wood floors and touches of wood paneling add warmth and character throughout. The former carport has been enclosed to create a fourth bedroom, offering flexibility for use as a second living area, office, or hobby space. Step outside and enjoy the covered front porch or unwind on the large screened-in side porch, perfect for relaxing evenings. Two storage outbuildings provide ample room for tools and equipment, while paved parking and additional front parking ensure plenty of space for vehicles. High-speed internet is available, and the property features low taxes for added affordability. Conveniently located near the Mark Twain National Forest, Eleven Point River, and Spring River, this home places you minutes from fishing, kayaking, hiking, and hunting. Whether you are searching for an affordable starter home or a smart investment opportunity, this property offers the perfect blend of small-town living and outdoor adventure.

17. 2026-04-13
    listed $105,000 Active 1595-char remark

    Show marketing remark (1595 chars)

    Charming Ozarks Home on Two City Lots Near Outdoor RecreationTake a look at this spacious and inviting 3-bedroom, 1-bath home with a bonus room set on two city lots in the heart of the Missouri Ozarks. Updated with low-maintenance vinyl siding and a durable metal roof, this property offers long-term value and peace of mind. Inside, you will find a comfortable layout filled with natural light, featuring an eat-in kitchen with a convenient pass-through to the dining area. Included appliances such as the electric range, refrigerator, washer, and dryer make this home truly move-in ready. Central heat and air provide year-round comfort, while original wood floors and touches of wood paneling add warmth and character throughout. The former carport has been enclosed to create a fourth bedroom, offering flexibility for use as a second living area, office, or hobby space. Step outside and enjoy the covered front porch or unwind on the large screened-in side porch, perfect for relaxing evenings. Two storage outbuildings provide ample room for tools and equipment, while paved parking and additional front parking ensure plenty of space for vehicles. High-speed internet is available, and the property features low taxes for added affordability. Conveniently located near the Mark Twain National Forest, Eleven Point River, and Spring River, this home places you minutes from fishing, kayaking, hiking, and hunting. Whether you are searching for an affordable starter home or a smart investment opportunity, this property offers the perfect blend of small-town living and outdoor adventure.

18. 2026-03-11
    historical
19. 2025-09-19
    listed $119,900 Active
20. 2025-09-19
    listed $119,900 New Listing

ⓘ 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: $394 · $33/mo
• Projected year-2 tax: $969 · $81/mo
• Expected delta: +$575/yr (+$48/mo · 145.8%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $14,319
• − Mortgage interest: −$5,596
• − Property taxes: −$394
• − Insurance: −$500
• − Repairs & maintenance: −$1,146
• − Management: −$1,146
• − Depreciation: −$2,906
• Taxable income: $2,633
• Est. tax owed @ 24.0%: −$632
• After-tax cash flow: $3,500/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: Alton R-IV
• NCES district ID: 2903060
• Math proficiency: 18% ▼ -6.00%
• Reading proficiency: 37% ▲ 2.00%
• Median HH income: $29,501
• Composite: 22.1/100
• National rank: #8179
• State rank: #283 of 324 in MO

Livability — Alton

• Score: 61/100
• State rank: #441
• US rank: #18027

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alton, MO
• Population (ZIP): 2,540

Population outlook (Oregon County) Hauer SSP2

• Today (2025): 10,607 people
• By 2030: 10,352 · -2.4%
• By 2040: 9,829 · -7.3%
• By 2050: 9,286 · -12.5%
• By 2075: 8,392 · -20.9%
• By 2100: 7,136 · -32.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Portuguese 3% Lithuanian 2% Slovak 1%
• Foreign-born: 1% · Vietnam
• Languages at home: 97% English-only · Arabic 2% Spanish 1% Vietnamese 1%

Political lean MEDSL · Oregon

• 2024 margin: Solid R (+69.1) · D 15.1% · R 84.2%
• 2008→2024 swing: -50.8pp toward R · 2008: -18.3pp · 2024: -69.1pp
• All cycles: 2024: R+69.1 2020: R+63.8 2016: R+60.1 2012: R+33.2 2008: R+18.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.62%
• Current HPI: 142.0523
• 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

-12.4% since first listed

5 events — show timeline

• 2026-04-13 Listed $105,000 SOMO
• 2026-04-13 Listed $105,000 CARMLS
• 2026-03-11 Listing Removed — CARMLS
• 2025-09-19 Listed $119,900 CARMLS
• 2025-09-19 Listed $119,900 SOMO

Property tax history

+4.7%/yr

Latest (2025): $394 · +13.7% YoY. Source: county tax records.