823 Hearrell Ave · Neosho, MO 64850

$138,900

4 bd · 3.5 ba · 1,608 sqft · Other public records · 143 Days on market

Built 1940 $86/sqft · 22% above area Est $207k · 33% under

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Why this score? — see what drove the F 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).

• ARV discount +15.0/15.0
• Cash flow +6.2/30.0
• Livability +3.6/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.8/10.0
• DSCR +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 5 bedroom home is looking for a new owner to come in and spruce it up. Bring your best DIY ideas and update this house into your home. Brief drive to the Neosho Square and just down the road from the Neosho Fish Hatchery. This property has been placed in an upcoming event. 4/25 - 4/28 All bids should be submitted at Xome.com void where prohibited. Please submit any pre-auction offer received through the property details page on Xome.com. Any post-auction offers will need to be submitted directly to the listing agent. Response within 3 business days. All properties are subject to a 5 per. cent buyer s premium pursuant to the Auction Participation Agreement and Terms & Conditions minimums will apply

Key facts

• Garage
• Built 1940
• Listed 143 days

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath other listed at $139k.

Deal economics

• At list price, monthly cash flow is $-320 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $82k (40.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $81k (41.6% below list).
• Recommended offer: $81k (41.6% below list) — sets the bar for 1% rule.
• Cap rate 4.1% vs local median 2.9% in Neosho — 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 71/100 on livability (#103 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, employment D, amenities F.
• Neosho School District (town): math 36% / reading 48% proficiency, ranked #125 of 324 in MO (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 202 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 110 units permitted in Newton County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $960 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Newton County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y ago; this cycle's ask has dropped $70k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $81,053 (41.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.58% ✗
• Cap rate: 4.10%
• Cash-on-cash: -7.83%
• DSCR: 0.65
• GRM: 14.3

CMA / ARV

• ARV (median comp): $207,000
• List price: $138,900
• Delta: -32.90%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -34.0%
• Equity multiple: -0.10×
• Total profit: $-42,892
• Equity at exit: $20,710

10-year hold

• IRR: -42.8%
• Equity multiple: -0.63×
• Total profit: $-63,563
• Equity at exit: $12,010

Cash invested: $38,892 (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 64850

• Home prices YoY: -5.1%
• Active inventory: 202
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $811 medium
• Mortgage (P&I): −$728
• Tax from tax record: −$108 /mo · $1,294/yr
• Insurance: −$58
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$170
• Net cashflow: $-320

Break-even live

Break-even rent $1,216

Max offer price $82,326

Occupancy floor —

Sensitivity live

Price	-10% $-242	-5% $-281	+0% $-320	+5% $-360	+10% $-399
Rent	-10% $-384	-5% $-352	+0% $-320	+5% $-288	+10% $-256
Rate	-1.0pp $-250	-0.5pp $-285	base $-320	+0.5pp $-356	+1.0pp $-393

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: $34,725
• Closing costs: $4,167
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
PRV Neosho, MO	3.0	2.0	1408	$760	$0.54	15d	1	0.67mi
316 Wheeler St Neosho, MO	3.0	1.0	1414	$900	$0.64	24d	1	1.19mi

Listing history 19 events

1. 2026-05-20
   status Pending 718-char remark

   Show marketing remark (718 chars)

   This 5 bedroom home is looking for a new owner to come in and spruce it up. Bring your best DIY ideas and update this house into your home. Brief drive to the Neosho Square and just down the road from the Neosho Fish Hatchery. This property has been placed in an upcoming event. 4/25 - 4/28 All bids should be submitted at Xome.com void where prohibited. Please submit any pre-auction offer received through the property details page on Xome.com. Any post-auction offers will need to be submitted directly to the listing agent. Response within 3 business days. All properties are subject to a 5 per. cent buyer s premium pursuant to the Auction Participation Agreement and Terms & Conditions minimums will apply

2. 2026-04-01
   price $138,900 718-char remark

   Show marketing remark (718 chars)

   This 5 bedroom home is looking for a new owner to come in and spruce it up. Bring your best DIY ideas and update this house into your home. Brief drive to the Neosho Square and just down the road from the Neosho Fish Hatchery. This property has been placed in an upcoming event. 4/25 - 4/28 All bids should be submitted at Xome.com void where prohibited. Please submit any pre-auction offer received through the property details page on Xome.com. Any post-auction offers will need to be submitted directly to the listing agent. Response within 3 business days. All properties are subject to a 5 per. cent buyer s premium pursuant to the Auction Participation Agreement and Terms & Conditions minimums will apply

3. 2026-03-26
   price $180,500 718-char remark

   Show marketing remark (718 chars)

   This 5 bedroom home is looking for a new owner to come in and spruce it up. Bring your best DIY ideas and update this house into your home. Brief drive to the Neosho Square and just down the road from the Neosho Fish Hatchery. This property has been placed in an upcoming event. 4/25 - 4/28 All bids should be submitted at Xome.com void where prohibited. Please submit any pre-auction offer received through the property details page on Xome.com. Any post-auction offers will need to be submitted directly to the listing agent. Response within 3 business days. All properties are subject to a 5 per. cent buyer s premium pursuant to the Auction Participation Agreement and Terms & Conditions minimums will apply

4. 2026-03-16
   status Active 718-char remark

   Show marketing remark (718 chars)

   This 5 bedroom home is looking for a new owner to come in and spruce it up. Bring your best DIY ideas and update this house into your home. Brief drive to the Neosho Square and just down the road from the Neosho Fish Hatchery. This property has been placed in an upcoming event. 4/25 - 4/28 All bids should be submitted at Xome.com void where prohibited. Please submit any pre-auction offer received through the property details page on Xome.com. Any post-auction offers will need to be submitted directly to the listing agent. Response within 3 business days. All properties are subject to a 5 per. cent buyer s premium pursuant to the Auction Participation Agreement and Terms & Conditions minimums will apply

5. 2026-03-11
   status Pending 718-char remark

   Show marketing remark (718 chars)

   This 5 bedroom home is looking for a new owner to come in and spruce it up. Bring your best DIY ideas and update this house into your home. Brief drive to the Neosho Square and just down the road from the Neosho Fish Hatchery. This property has been placed in an upcoming event. 4/25 - 4/28 All bids should be submitted at Xome.com void where prohibited. Please submit any pre-auction offer received through the property details page on Xome.com. Any post-auction offers will need to be submitted directly to the listing agent. Response within 3 business days. All properties are subject to a 5 per. cent buyer s premium pursuant to the Auction Participation Agreement and Terms & Conditions minimums will apply

6. 2026-01-29
   price $189,900 718-char remark

   Show marketing remark (718 chars)

   This 5 bedroom home is looking for a new owner to come in and spruce it up. Bring your best DIY ideas and update this house into your home. Brief drive to the Neosho Square and just down the road from the Neosho Fish Hatchery. This property has been placed in an upcoming event. 4/25 - 4/28 All bids should be submitted at Xome.com void where prohibited. Please submit any pre-auction offer received through the property details page on Xome.com. Any post-auction offers will need to be submitted directly to the listing agent. Response within 3 business days. All properties are subject to a 5 per. cent buyer s premium pursuant to the Auction Participation Agreement and Terms & Conditions minimums will apply

7. 2026-01-07
   price $198,900 718-char remark

   Show marketing remark (718 chars)

   This 5 bedroom home is looking for a new owner to come in and spruce it up. Bring your best DIY ideas and update this house into your home. Brief drive to the Neosho Square and just down the road from the Neosho Fish Hatchery. This property has been placed in an upcoming event. 4/25 - 4/28 All bids should be submitted at Xome.com void where prohibited. Please submit any pre-auction offer received through the property details page on Xome.com. Any post-auction offers will need to be submitted directly to the listing agent. Response within 3 business days. All properties are subject to a 5 per. cent buyer s premium pursuant to the Auction Participation Agreement and Terms & Conditions minimums will apply

8. 2025-12-20
   listed $209,000 Active 718-char remark

   Show marketing remark (718 chars)

   This 5 bedroom home is looking for a new owner to come in and spruce it up. Bring your best DIY ideas and update this house into your home. Brief drive to the Neosho Square and just down the road from the Neosho Fish Hatchery. This property has been placed in an upcoming event. 4/25 - 4/28 All bids should be submitted at Xome.com void where prohibited. Please submit any pre-auction offer received through the property details page on Xome.com. Any post-auction offers will need to be submitted directly to the listing agent. Response within 3 business days. All properties are subject to a 5 per. cent buyer s premium pursuant to the Auction Participation Agreement and Terms & Conditions minimums will apply

9. 2021-07-30
   soldstatus 810-char remark

   Show marketing remark (810 chars)

   Classic home! Come take a look at this beautifully located corner lot property. The house towers over the block and demands a presence. As you walk up to the bricked home and in through the front door, you are greeted with original hardwood floors and a wood burning fireplace. The lower level contains the kitchen, living and dining area, along with 2 bedrooms and a recreational room. The recreational room has two bathrooms and a full-service sauna. Upstairs there are 2 bedrooms and the master bedroom with a newly remodeled bathroom. Outside the back door of the kitchen is a relaxing concrete sitting area that is private and shaded. To the East of the property is a detached 2 car garage with a slightly hidden back yard that contains an awesome gazebo for grilling and chilling. Come take a look today!

10. 2021-07-30
    soldstatus

    Show marketing remark (810 chars)

    Classic home! Come take a look at this beautifully located corner lot property. The house towers over the block and demands a presence. As you walk up to the bricked home and in through the front door, you are greeted with original hardwood floors and a wood burning fireplace. The lower level contains the kitchen, living and dining area, along with 2 bedrooms and a recreational room. The recreational room has two bathrooms and a full-service sauna. Upstairs there are 2 bedrooms and the master bedroom with a newly remodeled bathroom. Outside the back door of the kitchen is a relaxing concrete sitting area that is private and shaded. To the East of the property is a detached 2 car garage with a slightly hidden back yard that contains an awesome gazebo for grilling and chilling. Come take a look today!

11. 2021-07-30
    soldstatus

    Show marketing remark (810 chars)

    Classic home! Come take a look at this beautifully located corner lot property. The house towers over the block and demands a presence. As you walk up to the bricked home and in through the front door, you are greeted with original hardwood floors and a wood burning fireplace. The lower level contains the kitchen, living and dining area, along with 2 bedrooms and a recreational room. The recreational room has two bathrooms and a full-service sauna. Upstairs there are 2 bedrooms and the master bedroom with a newly remodeled bathroom. Outside the back door of the kitchen is a relaxing concrete sitting area that is private and shaded. To the East of the property is a detached 2 car garage with a slightly hidden back yard that contains an awesome gazebo for grilling and chilling. Come take a look today!

12. 2021-06-03
    listed $155,000 810-char remark

    Show marketing remark (810 chars)

    Classic home! Come take a look at this beautifully located corner lot property. The house towers over the block and demands a presence. As you walk up to the bricked home and in through the front door, you are greeted with original hardwood floors and a wood burning fireplace. The lower level contains the kitchen, living and dining area, along with 2 bedrooms and a recreational room. The recreational room has two bathrooms and a full-service sauna. Upstairs there are 2 bedrooms and the master bedroom with a newly remodeled bathroom. Outside the back door of the kitchen is a relaxing concrete sitting area that is private and shaded. To the East of the property is a detached 2 car garage with a slightly hidden back yard that contains an awesome gazebo for grilling and chilling. Come take a look today!

13. 2021-06-01
    listed $155,000
14. 2020-12-28
    soldstatus
15. 2015-11-12
    soldstatus
16. 2015-11-12
    soldstatus
17. 2015-06-12
    listed $79,900
18. 2015-06-10
    listed $79,900
19. 2014-01-06
    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: $1,294 · $108/mo
• Projected year-2 tax: $1,347 · $112/mo
• Expected delta: +$53/yr (+$4/mo · 4.1%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 99% 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 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,726
• − Mortgage interest: −$7,781
• − Property taxes: −$1,294
• − Insurance: −$1,492
• − Repairs & maintenance: −$778
• − Management: −$778
• − Depreciation: −$4,041
• Taxable loss: −$6,437
• Est. tax savings @ 24.0%: +$1,545
• After-tax cash flow: $-2,298/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: Neosho School District
• NCES district ID: 2921810
• Math proficiency: 36% ▬ 0.00%
• Reading proficiency: 48% ▲ 2.00%
• Median HH income: $40,574
• Composite: 35.21/100
• National rank: #4987
• State rank: #125 of 324 in MO

Livability — Neosho

• Score: 71/100
• State rank: #103
• US rank: #6875

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Neosho, MO
• Population (ZIP): 25,355

Population outlook (Newton County) Hauer SSP2

• Today (2025): 59,151 people
• By 2030: 58,961 · -0.3%
• By 2040: 57,609 · -2.6%
• By 2050: 54,775 · -7.4%
• By 2075: 46,140 · -22.0%
• By 2100: 34,348 · -41.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 12% Hispanic / Latino 9% Pacific Islander 2% Native American 2% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Italian 1% Scottish 1%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 6% Other Asian/Pacific 3%

Political lean MEDSL · Newton

• 2024 margin: Solid R (+58.6) · D 20.2% · R 78.8% · Other 1.0%
• 2008→2024 swing: -18.5pp toward R · 2008: -40.1pp · 2024: -58.6pp
• All cycles: 2024: R+58.6 2020: R+57.4 2016: R+58.7 2012: R+46.9 2008: R+40.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.98%
• Current HPI: 295.9911
• 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

+73.8% since first listed

19 events — show timeline

• 2026-05-20 Pending — OGAR
• 2026-04-01 Price Changed $138,900 OGAR
• 2026-03-26 Price Changed $180,500 OGAR
• 2026-03-16 Relisted — OGAR
• 2026-03-11 Pending — OGAR
• 2026-01-29 Price Changed $189,900 OGAR
• 2026-01-07 Price Changed $198,900 OGAR
• 2025-12-20 Listed $209,000 OGAR
• 2021-07-30 Sold (Public Records) — Public Records
• 2021-07-30 Sold (MLS) — OGAR
• 2021-07-30 Sold (MLS) — SOMO
• 2021-06-03 Listed $155,000 SOMO
• 2021-06-01 Listed $155,000 OGAR
• 2020-12-28 Sold (Public Records) — Public Records
• 2015-11-12 Sold (MLS) — SOMO
• 2015-11-12 Sold (MLS) — OGAR
• 2015-06-12 Listed $79,900 SOMO
• 2015-06-10 Listed $79,900 OGAR
• 2014-01-06 Sold (Public Records) — Public Records

Property tax history

+4.3%/yr

Latest (2025): $1,294 · +2.2% YoY. Source: county tax records.