811 W Mill St · Gallatin, MO 64640

$49,900

3 bd · 3.0 ba · 1,136 sqft · Other public records · 2 Days on market

Built 1920 0.45 ac lot ↓ 29% since listing

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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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming older home with lots of potential. The home consists of a large living room, dining room and kitchen all with beautiful hardwood floors, 3 bedrooms and 1 bath. Located on two lots just, under a 1/2 acre in size, close to the school and only 4 blocks from the city pool. Don't wait this one is priced to sell.

Key facts

• Sizable corner lot
• 0.45 acre lot
• Built 1920

Tags

• FUNCTIONAL FLOOR PLAN
• SPACIOUS LIVING AREAS
• SIZABLE CORNER LOT

Property features AI

Finance

• Other: Living area listed as 1,136 (public records)
• HOA & community: No association fees

Exterior

• Parking: Carport
• Utilities: Public water; Public sewer
• Home design: Single-family residential (ranch floor plan); One-story above grade
• Construction: Frame construction; Composition roof; Property over 100 years old
• Exterior features: Partial fencing; Corner lot

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: Three bedrooms on the main level
• Flooring: Wood
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating; Electric cooling
• Interior features: Wood flooring; Living room fireplace; Dining area combined with kitchen; Full unfinished walk-out basement
• Laundry & utility: Laundry in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath other listed at $50k.

Deal economics

• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($995 rent vs $50k).

Location & tenants

• Location reads 61/100 on livability (#426 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D+, amenities F, commute F.
• Gallatin R-V (rural): math 47% / reading 48% proficiency, ranked #66 of 324 in MO (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 124 active listings in the ZIP.

Forward outlook

• In year one you build about $5k of equity ($345 loan paydown + $5k appreciation (10.0% local appreciation)).
• Daviess County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,900

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: 1.99% ✓
• Cap rate: 17.50%
• Cash-on-cash: 40.03%
• DSCR: 2.78
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 55.2%
• Equity multiple: 5.07×
• Total profit: $56,862
• Equity at exit: $44,954

10-year hold

• IRR: 48.8%
• Equity multiple: 11.31×
• Total profit: $144,104
• Equity at exit: $96,945

Cash invested: $13,972 (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 64640

• Home prices YoY: 11.1%
• Active inventory: 124
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $995 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$37 /mo · $447/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $466

Break-even live

Break-even rent $405

Max offer price $49,900

Occupancy floor 48%

Sensitivity live

Price	-10% $494	-5% $480	+0% $466	+5% $452	+10% $438
Rent	-10% $388	-5% $427	+0% $466	+5% $505	+10% $545
Rate	-1.0pp $491	-0.5pp $479	base $466	+0.5pp $453	+1.0pp $440

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-18
   days on market $49,900 Active 2 DOM
2. 2026-06-17
   remarks 496-char remark
3. 2026-06-17
   listed $49,900 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: $447 · $37/mo
• Projected year-2 tax: $484 · $40/mo
• Expected delta: +$37/yr (+$3/mo · 8.2%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,937
• − Mortgage interest: −$2,795
• − Property taxes: −$447
• − Insurance: −$250
• − Repairs & maintenance: −$955
• − Management: −$955
• − Depreciation: −$1,452
• Taxable income: $5,083
• Est. tax owed @ 24.0%: −$1,220
• After-tax cash flow: $4,373/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: Gallatin R-V
• NCES district ID: 2912660
• Math proficiency: 47% ▲ 10.00%
• Reading proficiency: 48% ▲ 6.00%
• Median HH income: $42,284
• Composite: 39.98/100
• National rank: #3832
• State rank: #66 of 324 in MO

Livability — Gallatin

• Score: 61/100
• State rank: #426
• US rank: #17634

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gallatin, MO
• Population (ZIP): 3,183

Population outlook (Daviess County) Hauer SSP2

• Today (2025): 7,695 people
• By 2030: 7,386 · -4.0%
• By 2040: 6,860 · -10.9%
• By 2050: 6,375 · -17.2%
• By 2075: 5,084 · -33.9%
• By 2100: 3,583 · -53.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Romanian 6% Slovak 3% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Daviess

• 2024 margin: Solid R (+63.3) · D 17.9% · R 81.2%
• 2008→2024 swing: -40.5pp toward R · 2008: -22.8pp · 2024: -63.3pp
• All cycles: 2024: R+63.3 2020: R+60.2 2016: R+55.1 2012: R+33.0 2008: R+22.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 29.00%
• Current HPI: 290.2333
• 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

-28.7% since first listed

7 events — show timeline

• 2026-06-15 Listed $49,900 Heartland MLS as Distributed by MLS Grid
• 2025-09-29 Sold (Public Records) $78,582 Public Records
• 2021-09-15 Sold (Public Records) — Public Records
• 2021-09-14 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2021-07-25 Pending — Heartland MLS as Distributed by MLS Grid
• 2021-07-20 Listed $70,000 Heartland MLS as Distributed by MLS Grid
• 1992-02-22 Sold (Public Records) — Public Records

Property tax history

+2.0%/yr

Latest (2025): $447 · +9.0% YoY. Source: county tax records.