0 Rohrer St · Bourbon, MO 65441

$490,000

None bd · None ba · — sqft · MultiFamily · 109 Days on market

Built 1950 Poor condition

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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 +3.7/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.8/10.0

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

*Do not disturb current tenants* - Rare investment opportunity featuring 8 single-family homes being sold together along Rohrer Street in Bourbon. Properties like this seldom come to market in this area, offering an investor the chance to acquire multiple rental units in one centralized location. While each structure is a single-family home, the package functions as a small multifamily portfolio, creating efficiencies in management, maintenance, and long-term ownership. There is room for strategic upgrades and improvements, allowing a buyer to enhance the overall appeal of the area and increase rental rates over time. Ideal for an investor looking to scale their rental portfolio with a unique, hard-to-find asset. Opportunities to acquire this many homes together are extremely limited, don’t miss your chance to secure a high-potential investment.

Key facts

• Built 1950
• Listed 108 days

What this means for you Summary

Snapshot

• This is a multifamily listed at $490k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $5k ($66k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $490k).
• Recommended offer: $446k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#70 in MO, #4,719 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, schools D-, amenities F.
• Crawford County R-I (town): math 34% / reading 48% proficiency, ranked #143 of 324 in MO (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 26 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 23 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Crawford County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $137k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($446k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $445,900 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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 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: 2.29% ✓
• Cap rate: 19.67%
• Cash-on-cash: 47.77%
• DSCR: 3.13
• GRM: 3.6

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: 45.2%
• Equity multiple: 2.96×
• Total profit: $268,628
• Equity at exit: $73,061

10-year hold

• IRR: 51.1%
• Equity multiple: 5.97×
• Total profit: $682,528
• Equity at exit: $42,366

Cash invested: $137,200 (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 65441

• Home prices YoY: -4.4%
• Active inventory: 26
• Price-to-rent: 29.2×

Monthly cashflow live

• Estimated rent: $11,200 medium
• Mortgage (P&I): −$2,570
• Tax est. 1.5%: −$612 /mo · $7,350/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,352
• Net cashflow: $5,462

Break-even live

Break-even rent $4,286

Max offer price $490,000

Occupancy floor 46%

Sensitivity live

Price	-10% $5,800	-5% $5,631	+0% $5,462	+5% $5,292	+10% $5,123
Rent	-10% $4,577	-5% $5,019	+0% $5,462	+5% $5,904	+10% $6,347
Rate	-1.0pp $5,708	-0.5pp $5,586	base $5,462	+0.5pp $5,335	+1.0pp $5,206

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

Units	Beds	Baths	Est. rent
▸ 8× units	3	1	$11,200
Total (8 units)			$11,200

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: $122,500
• Closing costs: $14,700
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
340 Hillcrest Dr Bourbon, MO	3.0	1.5	1014	$1,400	$1.38	44d	1	0.35mi
850 Marlette Ave Unit B Bourbon, MO	1.0	1.0	—	$750	—	44d	1	0.84mi

Listing history 17 events

1. 2026-06-21
   days on market $490,000 Active 109 DOM
2. 2026-06-18
   days on market $490,000 Active 107 DOM
3. 2026-06-17
   days on market $490,000 Active 106 DOM
4. 2026-06-16
   days on market $490,000 Active 105 DOM
5. 2026-06-15
   days on market $490,000 Active 104 DOM
6. 2026-06-13
   days on market $490,000 Active 102 DOM
7. 2026-06-12
   days on market $490,000 Active 101 DOM
8. 2026-06-09
   days on market $490,000 Active 98 DOM
9. 2026-06-08
   days on market $490,000 Active 97 DOM
10. 2026-06-07
    days on market $490,000 Active 96 DOM
11. 2026-06-05
    days on market $490,000 Active 94 DOM
12. 2026-06-04
    days on market $490,000 Active 92 DOM
13. 2026-06-02
    days on market $490,000 Active 91 DOM
14. 2026-06-01
    days on market $490,000 Active 90 DOM
15. 2026-05-31
    days on market $490,000 Active 89 DOM
16. 2026-03-04
    listed $490,000 Active 863-char remark

    Show marketing remark (863 chars)

    *Do not disturb current tenants* - Rare investment opportunity featuring 8 single-family homes being sold together along Rohrer Street in Bourbon. Properties like this seldom come to market in this area, offering an investor the chance to acquire multiple rental units in one centralized location. While each structure is a single-family home, the package functions as a small multifamily portfolio, creating efficiencies in management, maintenance, and long-term ownership. There is room for strategic upgrades and improvements, allowing a buyer to enhance the overall appeal of the area and increase rental rates over time. Ideal for an investor looking to scale their rental portfolio with a unique, hard-to-find asset. Opportunities to acquire this many homes together are extremely limited, don’t miss your chance to secure a high-potential investment.

17. 2026-02-19
    historical $490,000 863-char remark

    Show marketing remark (863 chars)

    *Do not disturb current tenants* - Rare investment opportunity featuring 8 single-family homes being sold together along Rohrer Street in Bourbon. Properties like this seldom come to market in this area, offering an investor the chance to acquire multiple rental units in one centralized location. While each structure is a single-family home, the package functions as a small multifamily portfolio, creating efficiencies in management, maintenance, and long-term ownership. There is room for strategic upgrades and improvements, allowing a buyer to enhance the overall appeal of the area and increase rental rates over time. Ideal for an investor looking to scale their rental portfolio with a unique, hard-to-find asset. Opportunities to acquire this many homes together are extremely limited, don’t miss your chance to secure a high-potential investment.

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $134,400
• − Mortgage interest: −$27,448
• − Property taxes: −$7,350
• − Insurance: −$2,450
• − Repairs & maintenance: −$10,752
• − Management: −$10,752
• − Depreciation: −$14,255
• Taxable income: $61,394
• Est. tax owed @ 24.0%: −$14,735
• After-tax cash flow: $50,806/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 · 4 photos

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and updates to bring it up to a livable condition. Significant investments in exterior siding, roof, flooring, and interior walls are necessary to increase its resale and rental value.

Repairs flagged

• Major exterior siding — Significant damage
• Major roof — Missing shingles
• Major flooring — Worn-out carpet
• Major interior walls — Paint peeling

Value-add opportunities

• Both exterior siding — Enhances curb appeal and value
• Both roof — Critical for structural integrity and value
• Both flooring — Fresh carpet improves comfort and value
• Both interior walls — Fresh paint enhances appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant damage	Major	$15,000–50,000
roof · Missing shingles	Major	$15,000–50,000
flooring · Worn-out carpet	Major	$15,000–50,000
interior walls · Paint peeling	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both exterior siding — Enhances curb appeal and value ↑
• Both roof — Critical for structural integrity and value ↑
• Both flooring — Fresh carpet improves comfort and value ↑
• Both interior walls — Fresh paint enhances appearance and value ↑

ⓘ 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: Crawford County R-I
• NCES district ID: 2905640
• Math proficiency: 34% ▼ -1.00%
• Reading proficiency: 48% ▼ -3.00%
• Median HH income: $40,520
• Composite: 34.37/100
• National rank: #5216
• State rank: #143 of 324 in MO

Livability — Bourbon

• Score: 74/100
• State rank: #70
• US rank: #4719

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bourbon, MO
• Population (ZIP): 5,086

Population outlook (Crawford County) Hauer SSP2

• Today (2025): 24,107 people
• By 2030: 23,619 · -2.0%
• By 2040: 22,404 · -7.1%
• By 2050: 21,042 · -12.7%
• By 2075: 18,239 · -24.3%
• By 2100: 15,147 · -37.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 7% Hispanic / Latino 3% Pacific Islander 1%
• Common ancestry: Slovak 4% Lithuanian 3% Italian 3%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Crawford

• 2024 margin: Solid R (+62.2) · D 18.5% · R 80.7%
• 2008→2024 swing: -41.4pp toward R · 2008: -20.8pp · 2024: -62.2pp
• All cycles: 2024: R+62.2 2020: R+60.2 2016: R+59.5 2012: R+36.4 2008: R+20.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -8.40%
• Current HPI: 184.04
• 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

+0.0% since first listed

2 events — show timeline

• 2026-03-04 Listed $490,000 MARIS as Distributed by MLS Grid
• 2026-02-19 Coming Soon $490,000 MARIS as Distributed by MLS Grid