102 E 4th St · Pickering, MO 64476

$39,000

4 bd · 2.0 ba · 968 sqft · Other public records · 1 Days on market

Built 1915 7,405 sqft 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 +5.0/10.0
• Schools +3.5/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Fixer-Upper Opportunity! This charming home features beautiful original woodwork throughout and is full of potential. With a little TLC, it can be transformed into a wonderful family home. The property offers 4 bedrooms and 2 bathrooms and sits on a desirable corner lot. Being sold as-is, this is a great opportunity for investors, renovators, or buyers looking to add their personal touch!!!

Key facts

• 7,405 sq ft lot
• Built 1915

Property features AI

Finance

• Other: Located inside city limits
• HOA & community: No association fees; Maintenance not provided

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Fiber internet available
• Home design: Single-family residence; 2-story floor plan; Residential property
• Construction: Wood siding; Composition roof; Approximately 101+ years old; Above-grade finished area reported (source: assessor)
• Exterior features: Porch; City lot; Corner lot; Paved road access

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 4 bedrooms (all located on the second floor)
• Flooring: Wood flooring
• Bathrooms: 2 full bathrooms (one on the first floor and one on the second floor)
• Heating & cooling: Other heating; No central cooling
• Interior features: Wood flooring; Formal dining area; Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $39k.

Deal economics

• At list price, monthly cash flow is $561 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $39k).

Location & tenants

• Location reads 58/100 on livability (#606 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools C-, crime F, amenities F.
• North Nodaway County R-VI (rural): math 35% / reading 40% proficiency, ranked #343 of 535 in MO (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 active listings in the ZIP; 49 units permitted in Nodaway County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($270 loan paydown + $1k appreciation (3.0% local appreciation)).
• Nodaway 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,000

Questions for the listing agent

1. Built in 1915 — 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. 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?
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: 2.70% ✓
• Cap rate: 23.55%
• Cash-on-cash: 61.65%
• DSCR: 3.74
• GRM: 3.1

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: 66.5%
• Equity multiple: 4.70×
• Total profit: $40,444
• Equity at exit: $17,536

10-year hold

• IRR: 66.0%
• Equity multiple: 9.60×
• Total profit: $93,932
• Equity at exit: $27,025

Cash invested: $10,920 (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 64476

• Active inventory: 1
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,052 medium
• Mortgage (P&I): −$205
• Tax from tax record: −$49 /mo · $591/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $561

Break-even live

Break-even rent $342

Max offer price $39,000

Occupancy floor 42%

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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-17
   remarks 394-char remark
2. 2026-06-17
   listed $39,000 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: $591 · $49/mo
• Projected year-2 tax: $591 · $49/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,623
• − Mortgage interest: −$2,185
• − Property taxes: −$591
• − Insurance: −$195
• − Repairs & maintenance: −$1,010
• − Management: −$1,010
• − Depreciation: −$1,135
• Taxable income: $6,498
• Est. tax owed @ 24.0%: −$1,560
• After-tax cash flow: $5,172/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: North Nodaway County R-VI
• NCES district ID: 2921690
• Math proficiency: 35% ▼ -5.00%
• Reading proficiency: 40% ▬ 0.00%
• Median HH income: $47,220
• Composite: 34.68/100
• National rank: #10063
• State rank: #343 of 535 in MO

Livability — Pickering

• Score: 58/100
• State rank: #606
• US rank: #21227

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pickering, MO
• Population (ZIP): 268

Population outlook (Nodaway County) Hauer SSP2

• Today (2025): 22,010 people
• By 2030: 21,531 · -2.2%
• By 2040: 20,360 · -7.5%
• By 2050: 19,210 · -12.7%
• By 2075: 17,711 · -19.5%
• By 2100: 16,796 · -23.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Asian 2% Two or more races 2%
• Common ancestry: Lithuanian 4% Slovak 2% Romanian 2%
• Foreign-born: 2%
• Languages at home: 98% English-only · Other Indo-European 2%

Political lean MEDSL · Nodaway

• 2024 margin: Solid R (+43.7) · D 27.6% · R 71.4% · Other 1.0%
• 2008→2024 swing: -33.2pp toward R · 2008: -10.5pp · 2024: -43.7pp
• All cycles: 2024: R+43.7 2020: R+40.5 2016: R+40.8 2012: R+27.0 2008: R+10.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

• 2026-06-17 Listed $39,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+0.9%/yr

Latest (2025): $591 · +3.7% YoY. Source: county tax records.