640 Bowman Ct · Bernie, MO 63822

$115,000

3 bd · 1.0 ba · 2,624 sqft · Other public records · 62 Days on market

Built 1968 0.39 ac lot $44/sqft · 34% below area Est $176k · 34% under

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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 +23.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• Appreciation +6.9/10.0
• 1% rule +5.4/10.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Opportunity meets potential at 640 Bowman Court in Bernie, MO. This spacious 3-bedroom, 2-bathroom home is ready for a new owner to restore it to its former glory and create something truly special. With multiple living and gathering areas designed for hosting, the layout offers both functionality and flexibility for everyday living and entertaining alike. Each bedroom provides a sense of privacy and retreat, while the generously sized rooms throughout the home create a comfortable foundation for a growing family. Ample storage space adds to the practicality, making it easy to stay organized during and after renovations. Whether you're an investor looking for your next project or a homeowner ready to customize a property to your vision, this home presents an incredible opportunity to build equity and bring new life into a well-laid-out space.

Key facts

• 0.39 acre lot
• 2 parking spots
• Built 1968

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $115k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#179 in MO) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools D+, amenities F.
• Bernie R-XIII (rural): math 38% / reading 66% proficiency, ranked #34 of 324 in MO (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 15 active listings in the ZIP; 17 units permitted in Stoddard County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($795 loan paydown + $4k appreciation (3.7% local appreciation)).
• Stoddard County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.7% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.04% ✓
• Cap rate: 8.48%
• Cash-on-cash: 7.81%
• DSCR: 1.35
• GRM: 8.0

CMA / ARV

• ARV (median comp): $175,555
• List price: $115,000
• Delta: -34.49%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

3.73% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.6%
• Equity multiple: 1.99×
• Total profit: $31,719
• Equity at exit: $56,533

10-year hold

• IRR: 17.6%
• Equity multiple: 3.76×
• Total profit: $88,766
• Equity at exit: $91,076

Cash invested: $32,200 (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 63822

• Home prices YoY: 2.7%
• Active inventory: 15
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,200 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$87 /mo · $1,046/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $210

Break-even live

Break-even rent $934

Max offer price $115,000

Occupancy floor 78%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-12
   statusdays on market $115,000 Pending 62 DOM
2. 2026-06-09
   days on market $115,000 Active 61 DOM
3. 2026-06-08
   days on market $115,000 Active 60 DOM
4. 2026-06-07
   days on market $115,000 Active 59 DOM
5. 2026-06-07
   days on market $115,000 Active 58 DOM
6. 2026-06-04
   days on market $115,000 Active 55 DOM
7. 2026-06-02
   days on market $115,000 Active 54 DOM
8. 2026-06-01
   days on market $115,000 Active 53 DOM
9. 2026-05-31
   days on market $115,000 Active 52 DOM
10. 2026-04-09
    listed $115,000 Active 854-char remark

    Show marketing remark (854 chars)

    Opportunity meets potential at 640 Bowman Court in Bernie, MO. This spacious 3-bedroom, 2-bathroom home is ready for a new owner to restore it to its former glory and create something truly special. With multiple living and gathering areas designed for hosting, the layout offers both functionality and flexibility for everyday living and entertaining alike. Each bedroom provides a sense of privacy and retreat, while the generously sized rooms throughout the home create a comfortable foundation for a growing family. Ample storage space adds to the practicality, making it easy to stay organized during and after renovations. Whether you're an investor looking for your next project or a homeowner ready to customize a property to your vision, this home presents an incredible opportunity to build equity and bring new life into a well-laid-out space.

11. 2024-04-16
    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: $1,046 · $87/mo
• Projected year-2 tax: $1,116 · $93/mo
• Expected delta: +$70/yr (+$6/mo · 6.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,395
• − Mortgage interest: −$6,442
• − Property taxes: −$1,046
• − Insurance: −$575
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$3,345
• Taxable income: $684
• Est. tax owed @ 24.0%: −$164
• After-tax cash flow: $2,351/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: Bernie R-XIII
• NCES district ID: 2904950
• Math proficiency: 38% ▼ -3.00%
• Reading proficiency: 66% ▼ -2.00%
• Median HH income: $38,592
• Composite: 43.24/100
• National rank: #3055
• State rank: #34 of 324 in MO

Livability — Bernie

• Score: 68/100
• State rank: #179
• US rank: #9377

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bernie, MO
• Population (ZIP): 2,562

Population outlook (Stoddard County) Hauer SSP2

• Today (2025): 29,096 people
• By 2030: 28,478 · -2.1%
• By 2040: 27,073 · -7.0%
• By 2050: 25,512 · -12.3%
• By 2075: 21,740 · -25.3%
• By 2100: 17,841 · -38.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 7% Hispanic / Latino 3% Black 1%
• Common ancestry: Serbian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Stoddard

• 2024 margin: Solid R (+73.9) · D 12.8% · R 86.7%
• 2008→2024 swing: -34.1pp toward R · 2008: -39.8pp · 2024: -73.9pp
• All cycles: 2024: R+73.9 2020: R+72.0 2016: R+69.3 2012: R+49.3 2008: R+39.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.73%
• Current HPI: 143.7346
• 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

2 events — show timeline

• 2026-04-09 Listed $115,000 MARIS as Distributed by MLS Grid
• 2024-04-16 Sold (Public Records) — Public Records

Property tax history

+3.4%/yr

Latest (2025): $1,046 · +8.2% YoY. Source: county tax records.