228 Virginia St · Hannibal, MO 63401

$104,000

2 bd · 1.0 ba · 2,259 sqft · Other public records · 104 Days on market

Built 1930 6,708 sqft lot $46/sqft · 43% below area Est $181k · 43% 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 +22.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.3/10.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the potential of this inviting single-family home located in Hannibal. This residence offers approximately 1,329 square feet of interior living space, featuring 3 bedrooms and 1 bathroom. The property is situated on a manageable 0.15 to 0.20-acre lot, providing ample outdoor space for your needs. The front yard offers a welcoming approach to the home, while the spacious backyard provides a private setting for relaxation or gardening. Whether you are looking for room to play or a quiet space to enjoy the Missouri seasons, this level lot delivers a versatile outdoor environment. Conveniently located near local amenities and schools, this home is ready for its next chapter.

Key facts

• Manageable lot
• Spacious backyard
• Private setting

Tags

• SINGLE-FAMILY HOME
• MANAGEABLE LOT
• SPACIOUS BACKYARD
• PRIVATE SETTING
• VERSATILE OUTDOOR ENVIRONMENT
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $104k.

Deal economics

• At list price, monthly cash flow is $119 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $104k).
• Recommended offer: $95k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.4% in Hannibal — 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 73/100 on livability (#81 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, crime D, employment D.
• Hannibal 60 (town): math 38% / reading 44% proficiency, ranked #142 of 324 in MO (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 108 active listings in the ZIP; 38 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $719 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Marion County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $94,640 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.03% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.19%
• DSCR: 1.32
• GRM: 8.1

CMA / ARV

• ARV (median comp): $181,061
• List price: $104,000
• Delta: -42.56%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -8.6%
• Equity multiple: 0.68×
• Total profit: $-9,250
• Equity at exit: $15,507

10-year hold

• IRR: 0.9%
• Equity multiple: 1.06×
• Total profit: $1,800
• Equity at exit: $8,992

Cash invested: $29,120 (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 63401

• Home prices YoY: -32.9%
• Active inventory: 108
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,075 medium
• Mortgage (P&I): −$545
• Tax from tax record: −$86 /mo · $1,030/yr
• Insurance: −$43
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $119

Break-even live

Break-even rent $924

Max offer price $104,000

Occupancy floor 84%

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: $26,000
• Closing costs: $3,120
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $104,000 Active 104 DOM
2. 2026-06-17
   days on market $104,000 Active 103 DOM
3. 2026-06-16
   days on market $104,000 Active 102 DOM
4. 2026-06-15
   days on market $104,000 Active 101 DOM
5. 2026-06-13
   days on market $104,000 Active 99 DOM
6. 2026-06-12
   days on market $104,000 Active 98 DOM
7. 2026-06-09
   days on market $104,000 Active 95 DOM
8. 2026-06-08
   days on market $104,000 Active 94 DOM
9. 2026-06-07
   days on market $104,000 Active 93 DOM
10. 2026-06-04
    days on market $104,000 Active 89 DOM
11. 2026-06-02
    days on market $104,000 Active 88 DOM
12. 2026-06-01
    days on market $104,000 Active 87 DOM
13. 2026-05-31
    days on market $104,000 Active 86 DOM
14. 2026-03-06
    listed $104,000 Active 690-char remark

    Show marketing remark (690 chars)

    Discover the potential of this inviting single-family home located in Hannibal. This residence offers approximately 1,329 square feet of interior living space, featuring 3 bedrooms and 1 bathroom. The property is situated on a manageable 0.15 to 0.20-acre lot, providing ample outdoor space for your needs. The front yard offers a welcoming approach to the home, while the spacious backyard provides a private setting for relaxation or gardening. Whether you are looking for room to play or a quiet space to enjoy the Missouri seasons, this level lot delivers a versatile outdoor environment. Conveniently located near local amenities and schools, this home is ready for its next chapter.

15. 2021-10-18
    soldstatus
16. 2021-10-15
    soldstatus Closed 885-char remark

    Show marketing remark (885 chars)

    This adorable home is ready & waiting for new owners! Walk in to an open living room with built-ins & plenty of natural light! The dining room has even more built-ins & updated flooring! But the updates don't end there - check out the bathroom & kitchen! 3 bedrooms make for plenty of room for a family or guest. The basement & tuck-under garage are host to a storage room, the laundry area & a bonus room currently being used as an office. When it's hot outside you can swim in the pool & then spend your evenings sitting around the fire-pit or on the cozy covered porch. The location is ideal for a family wanting to be close to schools & activities but since it backs to woods you feel like you are miles away from town! Roof was replaced in 2014. Range, refrigerator, & dishwasher will all convey with the home. Don't wait to check this one out!

17. 2021-10-11
    status Pending 885-char remark

    Show marketing remark (885 chars)

    This adorable home is ready & waiting for new owners! Walk in to an open living room with built-ins & plenty of natural light! The dining room has even more built-ins & updated flooring! But the updates don't end there - check out the bathroom & kitchen! 3 bedrooms make for plenty of room for a family or guest. The basement & tuck-under garage are host to a storage room, the laundry area & a bonus room currently being used as an office. When it's hot outside you can swim in the pool & then spend your evenings sitting around the fire-pit or on the cozy covered porch. The location is ideal for a family wanting to be close to schools & activities but since it backs to woods you feel like you are miles away from town! Roof was replaced in 2014. Range, refrigerator, & dishwasher will all convey with the home. Don't wait to check this one out!

18. 2021-08-30
    historical Active Under Contract 885-char remark

    Show marketing remark (885 chars)

    This adorable home is ready & waiting for new owners! Walk in to an open living room with built-ins & plenty of natural light! The dining room has even more built-ins & updated flooring! But the updates don't end there - check out the bathroom & kitchen! 3 bedrooms make for plenty of room for a family or guest. The basement & tuck-under garage are host to a storage room, the laundry area & a bonus room currently being used as an office. When it's hot outside you can swim in the pool & then spend your evenings sitting around the fire-pit or on the cozy covered porch. The location is ideal for a family wanting to be close to schools & activities but since it backs to woods you feel like you are miles away from town! Roof was replaced in 2014. Range, refrigerator, & dishwasher will all convey with the home. Don't wait to check this one out!

19. 2021-08-25
    price $109,000 885-char remark

    Show marketing remark (885 chars)

    This adorable home is ready & waiting for new owners! Walk in to an open living room with built-ins & plenty of natural light! The dining room has even more built-ins & updated flooring! But the updates don't end there - check out the bathroom & kitchen! 3 bedrooms make for plenty of room for a family or guest. The basement & tuck-under garage are host to a storage room, the laundry area & a bonus room currently being used as an office. When it's hot outside you can swim in the pool & then spend your evenings sitting around the fire-pit or on the cozy covered porch. The location is ideal for a family wanting to be close to schools & activities but since it backs to woods you feel like you are miles away from town! Roof was replaced in 2014. Range, refrigerator, & dishwasher will all convey with the home. Don't wait to check this one out!

20. 2021-08-09
    price $120,000 885-char remark

    Show marketing remark (885 chars)

    This adorable home is ready & waiting for new owners! Walk in to an open living room with built-ins & plenty of natural light! The dining room has even more built-ins & updated flooring! But the updates don't end there - check out the bathroom & kitchen! 3 bedrooms make for plenty of room for a family or guest. The basement & tuck-under garage are host to a storage room, the laundry area & a bonus room currently being used as an office. When it's hot outside you can swim in the pool & then spend your evenings sitting around the fire-pit or on the cozy covered porch. The location is ideal for a family wanting to be close to schools & activities but since it backs to woods you feel like you are miles away from town! Roof was replaced in 2014. Range, refrigerator, & dishwasher will all convey with the home. Don't wait to check this one out!

21. 2021-07-10
    listed $125,000 Active 885-char remark

    Show marketing remark (885 chars)

    This adorable home is ready & waiting for new owners! Walk in to an open living room with built-ins & plenty of natural light! The dining room has even more built-ins & updated flooring! But the updates don't end there - check out the bathroom & kitchen! 3 bedrooms make for plenty of room for a family or guest. The basement & tuck-under garage are host to a storage room, the laundry area & a bonus room currently being used as an office. When it's hot outside you can swim in the pool & then spend your evenings sitting around the fire-pit or on the cozy covered porch. The location is ideal for a family wanting to be close to schools & activities but since it backs to woods you feel like you are miles away from town! Roof was replaced in 2014. Range, refrigerator, & dishwasher will all convey with the home. Don't wait to check this one out!

22. 2015-02-03
    soldstatus
23. 2015-01-30
    soldstatus
24. 2014-11-04
    listed $59,000

ⓘ 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: $1,030 · $86/mo
• Projected year-2 tax: $1,030 · $86/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 18 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: $12,897
• − Mortgage interest: −$5,826
• − Property taxes: −$1,030
• − Insurance: −$1,186
• − Repairs & maintenance: −$1,032
• − Management: −$1,032
• − Depreciation: −$3,025
• Taxable loss: −$233
• Est. tax savings @ 24.0%: +$56
• After-tax cash flow: $1,484/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: Hannibal 60
• NCES district ID: 2913650
• Math proficiency: 38% ▼ -8.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $40,349
• Composite: 34.39/100
• National rank: #5208
• State rank: #142 of 324 in MO

Livability — Hannibal

• Score: 73/100
• State rank: #81
• US rank: #5358

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hannibal, MO
• Population (ZIP): 21,125

Population outlook (Marion County) Hauer SSP2

• Today (2025): 28,640 people
• By 2030: 28,432 · -0.7%
• By 2040: 27,597 · -3.6%
• By 2050: 26,203 · -8.5%
• By 2075: 21,931 · -23.4%
• By 2100: 15,765 · -45.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 6% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Romanian 1% Italian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Marion

• 2024 margin: Solid R (+52.9) · D 23.1% · R 76.0%
• 2008→2024 swing: -29.0pp toward R · 2008: -23.9pp · 2024: -52.9pp
• All cycles: 2024: R+52.9 2020: R+50.3 2016: R+49.8 2012: R+32.0 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.01%
• Current HPI: 189.6907
• 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

+76.3% since first listed

11 events — show timeline

• 2026-03-06 Listed $104,000 MARIS as Distributed by MLS Grid
• 2021-10-18 Sold (Public Records) — Public Records
• 2021-10-15 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2021-10-11 Pending — MARIS as Distributed by MLS Grid
• 2021-08-30 Contingent — MARIS as Distributed by MLS Grid
• 2021-08-25 Price Changed $109,000 MARIS as Distributed by MLS Grid
• 2021-08-09 Price Changed $120,000 MARIS as Distributed by MLS Grid
• 2021-07-10 Listed $125,000 MARIS as Distributed by MLS Grid
• 2015-02-03 Sold (Public Records) — Public Records
• 2015-01-30 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2014-11-04 Listed $59,000 MARIS as Distributed by MLS Grid

Property tax history

+2.8%/yr

Latest (2025): $1,030 · +6.7% YoY. Source: county tax records.