600 S Pershing Ave · Salem, MO 65560

$59,900

2 bd · 1.0 ba · 1,051 sqft · Other public records · 23 Days on market

Built 1939 0.27 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
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Appreciation +7.8/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

VIP 4595 Check out this freshly remodeled home in the heart of Salem. 2 bedroom 1 bathroom with a large non conforming bedroom or family room. Owners will build a closet if buyer wants a 3 bedroom home. Brand new Luxury Vinyl Plank flooring, and carpet through the home. New windows with storm screens. New electric heat pump and duct work. New natural gas water heater. Natural gas wall mount heater in family room. Stainless steel appliances. New custom cabinets and butcher block counter top. Handicap accessible ramp. Detached 16x20 garage. Large back yard. This home is in a quiet area close to all of the amenities that Salem has to offer. Call to schedule a showing today!!!

Key facts

• Crawl space basement
• Off-street parking
• Detached garage

Tags

• OFF-STREET PARKING
• DETACHED GARAGE
• CRAWL SPACE BASEMENT
• PLEASANT LOT

Property features AI

Exterior

• Utilities: Public water; Public sewer; Electric service by Ameren
• Home design: Single-family residence; One level
• Construction: Vinyl siding
• Exterior features: Front yard; Back yard

Interior

• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bathroom (on the main level)
• Heating & cooling: Heat pump and natural gas heating; Heat pump cooling
• Interior features: Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $60k.

Deal economics

• At list price, monthly cash flow is $258 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($797 rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 2.7% in Salem — 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 69/100 on livability (#157 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B; Watch: amenities C-, commute F, employment F.
• Salem R-80 (town): math 25% / reading 41% proficiency, ranked #253 of 324 in MO (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Salem Upper Elem. (math 28% / reading 40%, grade F, #739 of 1,115 statewide, top 67%, 336 students, 62% FRL); Salem Sr. High (math 8% / reading 47%, grade F, #417 of 521 statewide, top 80%, 616 students, 46% FRL).
• Market conditions: 169 active listings in the ZIP; 3 units permitted in Dent County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($414 loan paydown + $3k appreciation (5.7% local appreciation)).
• Dent County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.7% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 1939 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,001 (1.5% below list)

Questions for the listing agent

1. Built in 1939 — 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: 1.33% ✓
• Cap rate: 11.46%
• Cash-on-cash: 18.44%
• DSCR: 1.82
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.66% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.1%
• Equity multiple: 2.94×
• Total profit: $32,482
• Equity at exit: $36,361

10-year hold

• IRR: 28.3%
• Equity multiple: 5.95×
• Total profit: $83,008
• Equity at exit: $64,849

Cash invested: $16,772 (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 65560

• Home prices YoY: 2.4%
• Active inventory: 169
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $797 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$33 /mo · $397/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$167
• Net cashflow: $258

Break-even live

Break-even rent $471

Max offer price $59,900

Occupancy floor 63%

Sensitivity live

Price	-10% $292	-5% $275	+0% $258	+5% $241	+10% $224
Rent	-10% $195	-5% $226	+0% $258	+5% $289	+10% $321
Rate	-1.0pp $288	-0.5pp $273	base $258	+0.5pp $242	+1.0pp $226

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $59,900 Active 23 DOM
2. 2026-06-18
   days on market $59,900 Active 21 DOM
3. 2026-06-17
   days on market $59,900 Active 20 DOM
4. 2026-06-16
   days on market $59,900 Active 19 DOM
5. 2026-06-15
   days on market $59,900 Active 18 DOM
6. 2026-06-13
   days on market $59,900 Active 16 DOM
7. 2026-06-12
   days on market $59,900 Active 15 DOM
8. 2026-06-09
   days on market $59,900 Active 12 DOM
9. 2026-06-08
   days on market $59,900 Active 11 DOM
10. 2026-06-07
    days on market $59,900 Active 10 DOM
11. 2026-06-07
    days on market $59,900 Active 9 DOM
12. 2026-06-04
    days on market $59,900 Active 6 DOM
13. 2026-06-02
    days on market $59,900 Active 5 DOM
14. 2026-06-01
    days on market $59,900 Active 4 DOM
15. 2026-05-31
    days on market $59,900 Active 3 DOM
16. 2026-05-28
    listed $59,900 Active
17. 2023-05-18
    soldstatus Closed 681-char remark

    Show marketing remark (681 chars)

    VIP 4595 Check out this freshly remodeled home in the heart of Salem. 2 bedroom 1 bathroom with a large non conforming bedroom or family room. Owners will build a closet if buyer wants a 3 bedroom home. Brand new Luxury Vinyl Plank flooring, and carpet through the home. New windows with storm screens. New electric heat pump and duct work. New natural gas water heater. Natural gas wall mount heater in family room. Stainless steel appliances. New custom cabinets and butcher block counter top. Handicap accessible ramp. Detached 16x20 garage. Large back yard. This home is in a quiet area close to all of the amenities that Salem has to offer. Call to schedule a showing today!!!

18. 2023-04-10
    historical Active Under Contract 681-char remark

    Show marketing remark (681 chars)

    VIP 4595 Check out this freshly remodeled home in the heart of Salem. 2 bedroom 1 bathroom with a large non conforming bedroom or family room. Owners will build a closet if buyer wants a 3 bedroom home. Brand new Luxury Vinyl Plank flooring, and carpet through the home. New windows with storm screens. New electric heat pump and duct work. New natural gas water heater. Natural gas wall mount heater in family room. Stainless steel appliances. New custom cabinets and butcher block counter top. Handicap accessible ramp. Detached 16x20 garage. Large back yard. This home is in a quiet area close to all of the amenities that Salem has to offer. Call to schedule a showing today!!!

19. 2023-03-31
    status Active 681-char remark

    Show marketing remark (681 chars)

    VIP 4595 Check out this freshly remodeled home in the heart of Salem. 2 bedroom 1 bathroom with a large non conforming bedroom or family room. Owners will build a closet if buyer wants a 3 bedroom home. Brand new Luxury Vinyl Plank flooring, and carpet through the home. New windows with storm screens. New electric heat pump and duct work. New natural gas water heater. Natural gas wall mount heater in family room. Stainless steel appliances. New custom cabinets and butcher block counter top. Handicap accessible ramp. Detached 16x20 garage. Large back yard. This home is in a quiet area close to all of the amenities that Salem has to offer. Call to schedule a showing today!!!

20. 2023-02-22
    historical Active Under Contract 681-char remark

    Show marketing remark (681 chars)

    VIP 4595 Check out this freshly remodeled home in the heart of Salem. 2 bedroom 1 bathroom with a large non conforming bedroom or family room. Owners will build a closet if buyer wants a 3 bedroom home. Brand new Luxury Vinyl Plank flooring, and carpet through the home. New windows with storm screens. New electric heat pump and duct work. New natural gas water heater. Natural gas wall mount heater in family room. Stainless steel appliances. New custom cabinets and butcher block counter top. Handicap accessible ramp. Detached 16x20 garage. Large back yard. This home is in a quiet area close to all of the amenities that Salem has to offer. Call to schedule a showing today!!!

21. 2022-12-02
    listed $124,900 Active 681-char remark

    Show marketing remark (681 chars)

    VIP 4595 Check out this freshly remodeled home in the heart of Salem. 2 bedroom 1 bathroom with a large non conforming bedroom or family room. Owners will build a closet if buyer wants a 3 bedroom home. Brand new Luxury Vinyl Plank flooring, and carpet through the home. New windows with storm screens. New electric heat pump and duct work. New natural gas water heater. Natural gas wall mount heater in family room. Stainless steel appliances. New custom cabinets and butcher block counter top. Handicap accessible ramp. Detached 16x20 garage. Large back yard. This home is in a quiet area close to all of the amenities that Salem has to offer. Call to schedule a showing today!!!

22. 2022-09-20
    status Pending 77-char remark

    Show marketing remark (77 chars)

    VIP 4554 Entered for Comp Purposes only. Sold Through Authorization to Show.

23. 2022-09-20
    historical Active Under Contract 77-char remark

    Show marketing remark (77 chars)

    VIP 4554 Entered for Comp Purposes only. Sold Through Authorization to Show.

24. 2022-09-20
    listed $60,000 Active 77-char remark

    Show marketing remark (77 chars)

    VIP 4554 Entered for Comp Purposes only. Sold Through Authorization to Show.

25. 2022-09-20
    soldstatus Closed 77-char remark

    Show marketing remark (77 chars)

    VIP 4554 Entered for Comp Purposes only. Sold Through Authorization to Show.

26. 2007-03-01
    soldstatus
27. 2004-08-01
    soldstatus

ⓘ 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: $397 · $33/mo
• Projected year-2 tax: $581 · $48/mo
• Expected delta: +$184/yr (+$15/mo · 46.2%)

ⓘ 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 5/10 Major 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $9,569
• − Mortgage interest: −$3,355
• − Property taxes: −$397
• − Insurance: −$300
• − Repairs & maintenance: −$766
• − Management: −$766
• − Depreciation: −$1,743
• Taxable income: $2,243
• Est. tax owed @ 24.0%: −$538
• After-tax cash flow: $2,555/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: Salem R-80
• NCES district ID: 2927090
• Math proficiency: 25% ▼ -6.00%
• Reading proficiency: 41% ▼ -2.00%
• Median HH income: $32,306
• Composite: 26.94/100
• National rank: #7082
• State rank: #253 of 324 in MO

Livability — Salem

• Score: 69/100
• State rank: #157
• US rank: #8725

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salem, MO
• Population (ZIP): 13,634

Population outlook (Dent County) Hauer SSP2

• Today (2025): 15,149 people
• By 2030: 14,734 · -2.7%
• By 2040: 13,862 · -8.5%
• By 2050: 12,959 · -14.5%
• By 2075: 11,217 · -26.0%
• By 2100: 9,399 · -38.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 2% · China

Political lean MEDSL · Dent

• 2024 margin: Solid R (+70.2) · D 14.4% · R 84.7%
• 2008→2024 swing: -32.4pp toward R · 2008: -37.8pp · 2024: -70.2pp
• All cycles: 2024: R+70.2 2020: R+69.0 2016: R+68.2 2012: R+49.6 2008: R+37.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.66%
• Current HPI: 238.9175
• 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

-0.2% since first listed

12 events — show timeline

• 2026-05-28 Listed $59,900 MARIS as Distributed by MLS Grid
• 2023-05-18 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2023-04-10 Contingent — MARIS as Distributed by MLS Grid
• 2023-03-31 Relisted — MARIS as Distributed by MLS Grid
• 2023-02-22 Contingent — MARIS as Distributed by MLS Grid
• 2022-12-02 Listed $124,900 MARIS as Distributed by MLS Grid
• 2022-09-20 Pending — MARIS as Distributed by MLS Grid
• 2022-09-20 Contingent — MARIS as Distributed by MLS Grid
• 2022-09-20 Listed $60,000 MARIS as Distributed by MLS Grid
• 2022-09-20 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2007-03-01 Sold (Public Records) — Public Records
• 2004-08-01 Sold (Public Records) — Public Records

Property tax history

+0.5%/yr

Latest (2025): $397 · +4.9% YoY. Source: county tax records.