903 E Grant St · Princeton, MO 64673

$29,900

3 bd · 1.0 ba · 920 sqft · Other public records · 55 Days on market

Built 1922 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 +5.3/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Investment opportunity in Princeton! This 3-bedroom, 1-bath home sits on a 0.25-acre lot just off Main Street, offering convenience and strong rental potential. Previously used as a rental, the home is livable as-is but could benefit from updates and improvements to maximize value. The property features a walk-out basement leading to the backyard, providing additional space and functionality. A 1-car attached garage and driveway offer off-street parking. With solid bones and a desirable location, this property is ideal for investors, flippers, or buyers looking to build equity with some cosmetic updates. Priced with potential in mind—don’t miss this opportunity!

Key facts

• Desirable location
• Backyard
• Walk-out basement

Tags

• WALK-OUT BASEMENT
• BACKYARD
• OFF-STREET PARKING
• STRONG RENTAL POTENTIAL
• INVESTMENT OPPORTUNITY
• DESIRABLE LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $30k.

Deal economics

• At list price, monthly cash flow is $559 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($953 rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#355 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B+, housing B+; Watch: employment D+, amenities F, commute F.
• Princeton R-V (rural): math 50% / reading 45% proficiency, ranked #158 of 535 in MO (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 24 active listings in the ZIP.

Forward outlook

• In year one you build about $382 of equity ($207 loan paydown + $175 appreciation (0.6% local appreciation)).
• Mercer County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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: built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $29,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.19% ✓
• Cap rate: 28.72%
• Cash-on-cash: 80.11%
• DSCR: 4.56
• GRM: 2.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.59% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 82.8%
• Equity multiple: 5.25×
• Total profit: $35,562
• Equity at exit: $9,568

10-year hold

• IRR: 83.9%
• Equity multiple: 10.76×
• Total profit: $81,719
• Equity at exit: $12,234

Cash invested: $8,372 (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 64673

• Home prices YoY: 0.3%
• Active inventory: 24
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $953 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$25 /mo · $295/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $559

Break-even live

Break-even rent $245

Max offer price $29,900

Occupancy floor 36%

Sensitivity live

Price	-10% $576	-5% $567	+0% $559	+5% $550	+10% $542
Rent	-10% $484	-5% $521	+0% $559	+5% $597	+10% $634
Rate	-1.0pp $574	-0.5pp $567	base $559	+0.5pp $551	+1.0pp $543

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-04
   listed $29,900 Active 682-char remark

   Show marketing remark (682 chars)

   Investment opportunity in Princeton! This 3-bedroom, 1-bath home sits on a 0.25-acre lot just off Main Street, offering convenience and strong rental potential. Previously used as a rental, the home is livable as-is but could benefit from updates and improvements to maximize value. The property features a walk-out basement leading to the backyard, providing additional space and functionality. A 1-car attached garage and driveway offer off-street parking. With solid bones and a desirable location, this property is ideal for investors, flippers, or buyers looking to build equity with some cosmetic updates. Priced with potential in mind—don’t miss this opportunity!

2. 2020-04-03
   soldstatus 519-char remark

   Show marketing remark (519 chars)

   This charming home located on the main road running through Princeton, MO is available for sale. Looking for rental income? Wanting to stop renting and start building equity in your home? Look no further! A natural gas hookup, large chicken coop, large back deck, mature trees, and spacious backyard! The vacant lot on the corner next door is also available with the right offer. Build a new home and rent the old or build a massive shop/garage with a private driveway, electric, gas, and plumbing hookup. Check it out!

3. 2020-01-18
   listed $25,000 519-char remark

   Show marketing remark (519 chars)

   This charming home located on the main road running through Princeton, MO is available for sale. Looking for rental income? Wanting to stop renting and start building equity in your home? Look no further! A natural gas hookup, large chicken coop, large back deck, mature trees, and spacious backyard! The vacant lot on the corner next door is also available with the right offer. Build a new home and rent the old or build a massive shop/garage with a private driveway, electric, gas, and plumbing hookup. Check it out!

ⓘ 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: $295 · $25/mo
• Projected year-2 tax: $295 · $25/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 5/10 Major
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°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: $11,435
• − Mortgage interest: −$1,675
• − Property taxes: −$295
• − Insurance: −$150
• − Repairs & maintenance: −$915
• − Management: −$915
• − Depreciation: −$870
• Taxable income: $6,616
• Est. tax owed @ 24.0%: −$1,588
• After-tax cash flow: $5,119/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: Princeton R-V
• NCES district ID: 2925590
• Math proficiency: 50% ▲ 1.00%
• Reading proficiency: 45% ▲ 1.00%
• Median HH income: $42,232
• Composite: 42.1/100
• National rank: #7042
• State rank: #158 of 535 in MO

Livability — Princeton

• Score: 63/100
• State rank: #355
• US rank: #15724

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Princeton, MO
• Population (ZIP): 2,492

Population outlook (Mercer County) Hauer SSP2

• Today (2025): 3,512 people
• By 2030: 3,383 · -3.7%
• By 2040: 3,134 · -10.8%
• By 2050: 2,894 · -17.6%
• By 2075: 2,397 · -31.7%
• By 2100: 1,787 · -49.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 2% Lithuanian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% German/W. Germanic 2% Tagalog/Filipino 1%

Political lean MEDSL · Mercer

• 2024 margin: Solid R (+73.1) · D 13.1% · R 86.2%
• 2008→2024 swing: -35.9pp toward R · 2008: -37.2pp · 2024: -73.1pp
• All cycles: 2024: R+73.1 2020: R+74.1 2016: R+73.0 2012: R+54.5 2008: R+37.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.59%
• Current HPI: 174.6594
• 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

+19.6% since first listed

3 events — show timeline

• 2026-04-04 Listed $29,900 Heartland MLS as Distributed by MLS Grid
• 2020-04-03 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2020-01-18 Listed $25,000 Heartland MLS as Distributed by MLS Grid

Property tax history

-0.6%/yr

Latest (2024): $295 · +4.2% YoY. Source: county tax records.