643 N Main St · Excelsior Springs, MO 64024

$49,000

2 bd · 1.0 ba · 962 sqft · SingleFamily public records · 4 Days on market

Built 1885 4,356 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
• Livability +3.4/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Bring your ideas! This one is ready to rehab! 3 lots available as well 2 next door and 1 behind the house, 3 additional lots can be purchased. 2 directly next door and one large lot behind the house at 643 main. please see mls#'s on the FOUR PARCELS: 2624373,2624378,2624376,2624381

Key facts

• 4,356 sq ft lot
• Built 1885
• Listed 4 days

Property features AI

Finance

• Other: Living area reported as 962 above-grade; Bungalow-style home
• Financial info: Annual tax amount listed (reported)
• HOA & community: No association fees; No maintenance provided

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single family residence (attached); Residential property; Composition roof
• Construction: Stone and frame construction; About 101+ years old
• Exterior features: Not in a flood plain; Approximately 0.1 acre lot

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Other cooling
• Interior features: Bungalow floor plan; Unfinished stone/rock basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $582 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Cap rate 20.5% vs local median 4.6% in Excelsior Springs — 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 67/100 on livability (#228 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D+, amenities F.
• Excelsior Springs 40 (town): math 27% / reading 40% proficiency, ranked #225 of 324 in MO (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 122 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 341 units permitted in Clay County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $339 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Clay County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,000

Questions for the listing agent

1. Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 2.56% ✓
• Cap rate: 20.55%
• Cash-on-cash: 50.92%
• DSCR: 3.27
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $175,084
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
207 Kibler Rd	0.41mi	2/1.0	960 (-0%)	4mo	$175,000	$182	78
408 E Excelsior St	0.34mi	2/1.0	974 (+1%)	10mo	$22,900	$24	73
724 Elmwood St	0.63mi	2/1.0	955 (-1%)	3mo	$169,000	$177	67
128 Wildwood Ave	0.51mi	2/1.0	920 (-4%)	3mo	$115,000	$125	66
725 Ley St	0.58mi	3/1.0 (+1)	974 (+1%)	0mo	$185,900	$191	66
815 Wilhite St	0.54mi	3/1.0 (+1)	944 (-2%)	3mo	$180,000	$191	64
116 Greenwood Ave	0.48mi	3/1.0 (+1)	920 (-4%)	8mo	$169,900	$185	59
600 Centralia Ave	0.38mi	3/1.0 (+1)	880 (-8%)	7mo	$185,000	$210	57
625 Benton Ave	0.57mi	2/1.0	1,050 (+9%)	6mo	$69,750	$66	53
729 Hazel St	0.56mi	3/1.0 (+1)	894 (-7%)	7mo	$45,000	$50	51
316 May St	0.73mi	2/1.0	864 (-10%)	7mo	$180,000	$208	43
1004 Hickory St	0.68mi	3/1.0 (+1)	1,100 (+14%)	1mo	$175,000	$159	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 48.8%
• Equity multiple: 3.13×
• Total profit: $29,199
• Equity at exit: $7,306

10-year hold

• IRR: 54.4%
• Equity multiple: 6.35×
• Total profit: $73,425
• Equity at exit: $4,237

Cash invested: $13,720 (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 64024

• Home prices YoY: -15.3%
• Active inventory: 122
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,257 high
• Mortgage (P&I): −$257
• Tax from tax record: −$133 /mo · $1,599/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $582

Break-even live

Break-even rent $520

Max offer price $49,000

Occupancy floor 49%

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
117 South St Excelsior Springs, MO	1.0	1.0	602	$900	$1.49	1d	2	0.42mi
410 N Titus Ave Excelsior Springs, MO	3.0	2.0	910	$1,476	$1.62	43d	1	0.70mi
317 Woods St Excelsior Springs, MO	2.0	1.0	884	$1,350	$1.53	1d	1	0.76mi
1406 Magnolia W Excelsior Springs, MO	2.0	1.0	750	$895	$1.19	21d	2	0.94mi
701 Tiger Dr Excelsior Springs, MO	2.0	1.5	800	$1,250	$1.56	1d	1	1.13mi

Listing history 5 events

1. 2026-06-10
   status $49,000 Pending 4 DOM
2. 2026-06-09
   days on market $49,000 Active 4 DOM
3. 2026-06-08
   days on market $49,000 Active 3 DOM
4. 2026-06-07
   remarks 284-char remark
5. 2026-06-07
   listed $49,000 Active 2 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: $1,599 · $133/mo
• Projected year-2 tax: $1,599 · $133/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 4/10 Moderate 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,080
• − Mortgage interest: −$2,745
• − Property taxes: −$1,599
• − Insurance: −$245
• − Repairs & maintenance: −$1,206
• − Management: −$1,206
• − Depreciation: −$1,425
• Taxable income: $6,653
• Est. tax owed @ 24.0%: −$1,597
• After-tax cash flow: $5,389/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: Excelsior Springs 40
• NCES district ID: 2911650
• Math proficiency: 27% ▼ -6.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $52,747
• Composite: 29.32/100
• National rank: #6548
• State rank: #225 of 324 in MO

Livability — Excelsior Springs

• Score: 67/100
• State rank: #228
• US rank: #11166

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Excelsior Springs, MO
• County: Clay County · 220,651 people
• City population: 15,574
• Metro: Kansas City, MO-KS
• Population (ZIP): 15,574
• Household income: $77,895
• Rent vs Own: 23.2% rent · 76.8% own
• Severe rent burden: 329.0

Population outlook (Clay County) Hauer SSP2

• Today (2025): 266,022 people
• By 2030: 280,057 · +5.3%
• By 2040: 306,153 · +15.1%
• By 2050: 328,630 · +23.5%
• By 2075: 375,182 · +41.0%
• By 2100: 392,861 · +47.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 7% Hispanic / Latino 6% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 4% Cuban 2%
• Common ancestry: Italian 2% Serbian 2% Portuguese 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · Clay

• 2024 margin: Lean R (+5.6) · D 46.4% · R 52.0% · Other 1.6%
• 2008→2024 swing: -4.9pp toward R · 2008: -0.7pp · 2024: -5.6pp
• All cycles: 2024: R+5.6 2020: R+4.1 2016: R+11.1 2012: R+8.4 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.83%
• Current HPI: 302.9184
• Rent YoY: —
• Metro: Kansas City, MO-KS
• 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

• 2026-06-05 Listed $49,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+6.1%/yr

Latest (2025): $1,599 · +7.2% YoY. Source: county tax records.