387 Main St · Olean, MO 65064

$47,500

1 bd · 1.0 ba · 1,428 sqft · Other public records · 9 Days on market

Built 1920 0.25 ac 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
• Appreciation +6.8/10.0
• Schools +4.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Classic Victorian fixer-upper with original woodwork right on main street.

Key facts

• Original woodwork
• 0.25 acre lot
• Listed 9 days

Tags

• VICTORIAN FIXER-UPPER
• ORIGINAL WOODWORK

Property features AI

Exterior

• Parking: Concrete parking; No garage
• Utilities: Private well water; Septic tank
• Home design: Single-family detached residence; One level; Fixer condition
• Construction: Wood siding; Shingle roof; Other foundation
• Exterior features: Patio; City lot; Asphalt/paved road access

Interior

• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom; Accessible full bathroom
• Heating & cooling: Electric forced air heating; Ceiling fan(s); No central cooling
• Interior features: Ceiling fan(s); Partially finished basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $48k.

Deal economics

• At list price, monthly cash flow is $499 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($992 rent vs $48k).

Location & tenants

• Location reads 61/100 on livability (#439 in MO) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, crime A; Watch: schools D+, amenities F, commute F.
• Eldon R-I (town): math 46% / reading 54% proficiency, ranked #52 of 324 in MO (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 2 active listings in the ZIP; 88 units permitted in Miller County in 2024 (31 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($328 loan paydown + $2k appreciation (3.7% local appreciation)).
• Miller County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.7% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $47,500

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.09% ✓
• Cap rate: 18.90%
• Cash-on-cash: 45.02%
• DSCR: 3.00
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.68% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 51.2%
• Equity multiple: 3.95×
• Total profit: $39,220
• Equity at exit: $23,198

10-year hold

• IRR: 50.2%
• Equity multiple: 7.99×
• Total profit: $92,991
• Equity at exit: $37,253

Cash invested: $13,300 (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 65064

• Home prices YoY: 3.3%
• Active inventory: 2
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $992 medium
• Mortgage (P&I): −$249
• Tax from tax record: −$15 /mo · $185/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $499

Break-even live

Break-even rent $360

Max offer price $47,500

Occupancy floor 45%

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: $11,875
• Closing costs: $1,425
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $47,500 Active 9 DOM
2. 2026-06-17
   days on market $47,500 Active 8 DOM
3. 2026-06-16
   days on market $47,500 Active 7 DOM
4. 2026-06-15
   days on market $47,500 Active 6 DOM
5. 2026-06-13
   days on market $47,500 Active 4 DOM
6. 2026-06-12
   days on market $47,500 Active 3 DOM
7. 2026-06-09
   remarks 74-char remark
8. 2026-06-09
   listed $47,500 Active 1 DOM

ⓘ 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: $185 · $15/mo
• Projected year-2 tax: $461 · $38/mo
• Expected delta: +$276/yr (+$23/mo · 148.8%)

ⓘ 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 4/10 Moderate 7 d/yr ≥107°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: $11,898
• − Mortgage interest: −$2,661
• − Property taxes: −$185
• − Insurance: −$238
• − Repairs & maintenance: −$952
• − Management: −$952
• − Depreciation: −$1,382
• Taxable income: $5,529
• Est. tax owed @ 24.0%: −$1,327
• After-tax cash flow: $4,661/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: Eldon R-I
• NCES district ID: 2911340
• Math proficiency: 46% ▼ -2.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $34,415
• Composite: 41.27/100
• National rank: #3521
• State rank: #52 of 324 in MO

Livability — Olean

• Score: 61/100
• State rank: #439
• US rank: #17986

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Olean, MO
• Population (ZIP): 774

Population outlook (Miller County) Hauer SSP2

• Today (2025): 25,396 people
• By 2030: 25,344 · -0.2%
• By 2040: 24,740 · -2.6%
• By 2050: 23,415 · -7.8%
• By 2075: 19,426 · -23.5%
• By 2100: 13,742 · -45.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Danish 2% Slovak 1%
• Languages at home: 93% English-only · German/W. Germanic 4% Spanish 3%

Political lean MEDSL · Miller

• 2024 margin: Solid R (+67.3) · D 15.9% · R 83.2%
• 2008→2024 swing: -30.5pp toward R · 2008: -36.8pp · 2024: -67.3pp
• All cycles: 2024: R+67.3 2020: R+65.7 2016: R+66.0 2012: R+49.4 2008: R+36.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.68%
• Current HPI: 114.6051
• 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

1 event — show timeline

• 2026-06-09 Listed $47,500 LOBR

Property tax history

+5.4%/yr

Latest (2025): $185 · +9.3% YoY. Source: county tax records.