408 S Olive St · Mexico, MO 65265

$47,900

2 bd · 1.0 ba · 728 sqft · Other public records · 206 Days on market

Built 1940 5,881 sqft lot $66/sqft · 52% below area ↓ 20% 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
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SHOWINGS ARE NOW OPEN! Check out this 2-bedroom 1-bath home. Affordable for your portfolio, downsizing, or first-time home.

Key facts

• 5,881 sq ft lot
• Built 1940
• Listed 205 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $48k.

Deal economics

• At list price, monthly cash flow is $505 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).
• Recommended offer: $42k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.9% vs local median 4.5% in Mexico — 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 65/100 on livability (#256 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety A-; Watch: schools D-, crime F, amenities F.
• Mexico 59 (town): math 31% / reading 38% proficiency, ranked #229 of 324 in MO (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 136 active listings in the ZIP; 27 units permitted in Audrain County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $331 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Audrain County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 206 days — a 12% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $12k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $42,152 (12.0% below list)

Questions for the listing agent

1. It's been on market 206 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. Crime grade is F 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?
7. 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.
8. 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.
9. 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: 2.24% ✓
• Cap rate: 18.94%
• Cash-on-cash: 45.16%
• DSCR: 3.01
• GRM: 3.7

CMA / ARV

• ARV (median comp): $100,815
• List price: $47,900
• Delta: -52.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 42.3%
• Equity multiple: 2.82×
• Total profit: $24,407
• Equity at exit: $7,142

10-year hold

• IRR: 48.4%
• Equity multiple: 5.68×
• Total profit: $62,740
• Equity at exit: $4,142

Cash invested: $13,412 (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 65265

• Home prices YoY: -30.2%
• Active inventory: 136
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,072 medium
• Mortgage (P&I): −$251
• Tax from tax record: −$71 /mo · $852/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $505

Break-even live

Break-even rent $433

Max offer price $47,900

Occupancy floor 48%

Sensitivity live

Price	-10% $532	-5% $518	+0% $505	+5% $491	+10% $478
Rent	-10% $420	-5% $462	+0% $505	+5% $547	+10% $589
Rate	-1.0pp $529	-0.5pp $517	base $505	+0.5pp $492	+1.0pp $480

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: $11,975
• Closing costs: $1,437
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-15
   days on market $47,900 Active 206 DOM
2. 2026-06-13
   days on market $47,900 Active 204 DOM
3. 2026-06-12
   days on market $47,900 Active 203 DOM
4. 2026-06-09
   days on market $47,900 Active 200 DOM
5. 2026-06-08
   days on market $47,900 Active 199 DOM
6. 2026-06-07
   days on market $47,900 Active 198 DOM
7. 2026-06-07
   days on market $47,900 Active 197 DOM
8. 2026-06-04
   days on market $47,900 Active 194 DOM
9. 2026-06-02
   days on market $47,900 Active 193 DOM
10. 2026-06-01
    days on market $47,900 Active 192 DOM
11. 2026-05-31
    days on market $47,900 Active 191 DOM
12. 2026-05-06
    price $47,900 123-char remark

    Show marketing remark (123 chars)

    SHOWINGS ARE NOW OPEN! Check out this 2-bedroom 1-bath home. Affordable for your portfolio, downsizing, or first-time home.

13. 2025-12-29
    price $54,900 123-char remark

    Show marketing remark (123 chars)

    SHOWINGS ARE NOW OPEN! Check out this 2-bedroom 1-bath home. Affordable for your portfolio, downsizing, or first-time home.

14. 2025-11-21
    listed $59,900 Active 123-char remark

    Show marketing remark (123 chars)

    SHOWINGS ARE NOW OPEN! Check out this 2-bedroom 1-bath home. Affordable for your portfolio, downsizing, or first-time home.

15. 2023-05-25
    soldstatus Closed 506-char remark

    Show marketing remark (506 chars)

    This darling 2 bed and 1 bath sits on a corner lot, located around the corner from parks and just a short driving/walking distance to downtown. It has been very well kept with a lot of TLC within the last 5 years including an HVAC installed, paint all through out, insulation, an updated bathroom and has undergone a total kitchen renovation, on the outside the roof was replaced, windows, and gorgeous siding. If you are looking for a move in ready home with a little charm to it, this is the one for you!

16. 2023-05-25
    soldstatus

    Show marketing remark (506 chars)

    This darling 2 bed and 1 bath sits on a corner lot, located around the corner from parks and just a short driving/walking distance to downtown. It has been very well kept with a lot of TLC within the last 5 years including an HVAC installed, paint all through out, insulation, an updated bathroom and has undergone a total kitchen renovation, on the outside the roof was replaced, windows, and gorgeous siding. If you are looking for a move in ready home with a little charm to it, this is the one for you!

17. 2023-03-29
    price $85,000 506-char remark

    Show marketing remark (506 chars)

    This darling 2 bed and 1 bath sits on a corner lot, located around the corner from parks and just a short driving/walking distance to downtown. It has been very well kept with a lot of TLC within the last 5 years including an HVAC installed, paint all through out, insulation, an updated bathroom and has undergone a total kitchen renovation, on the outside the roof was replaced, windows, and gorgeous siding. If you are looking for a move in ready home with a little charm to it, this is the one for you!

18. 2023-02-25
    listed $89,900 Active 506-char remark

    Show marketing remark (506 chars)

    This darling 2 bed and 1 bath sits on a corner lot, located around the corner from parks and just a short driving/walking distance to downtown. It has been very well kept with a lot of TLC within the last 5 years including an HVAC installed, paint all through out, insulation, an updated bathroom and has undergone a total kitchen renovation, on the outside the roof was replaced, windows, and gorgeous siding. If you are looking for a move in ready home with a little charm to it, this is the one for you!

19. 2022-08-18
    soldstatus
20. 2020-09-16
    soldstatus
21. 2020-07-06
    listed $59,900
22. 2020-06-12
    soldstatus
23. 2014-05-01
    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: $852 · $71/mo
• Projected year-2 tax: $852 · $71/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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,864
• − Mortgage interest: −$2,683
• − Property taxes: −$852
• − Insurance: −$240
• − Repairs & maintenance: −$1,029
• − Management: −$1,029
• − Depreciation: −$1,393
• Taxable income: $5,638
• Est. tax owed @ 24.0%: −$1,353
• After-tax cash flow: $4,704/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: Mexico 59
• NCES district ID: 2920810
• Math proficiency: 31% ▼ -3.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $41,152
• Composite: 29.07/100
• National rank: #6601
• State rank: #229 of 324 in MO

Livability — Mexico

• Score: 65/100
• State rank: #256
• US rank: #12405

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mexico, MO
• Population (ZIP): 15,131

Population outlook (Audrain County) Hauer SSP2

• Today (2025): 27,791 people
• By 2030: 28,684 · +3.2%
• By 2040: 30,598 · +10.1%
• By 2050: 32,319 · +16.3%
• By 2075: 36,395 · +31.0%
• By 2100: 37,277 · +34.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 6% Black 5% Hispanic / Latino 4%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3% Chinese 1%

Political lean MEDSL · Audrain

• 2024 margin: Solid R (+47.6) · D 25.6% · R 73.2% · Other 1.2%
• 2008→2024 swing: -31.6pp toward R · 2008: -16.1pp · 2024: -47.6pp
• All cycles: 2024: R+47.6 2020: R+47.2 2016: R+44.0 2012: R+26.6 2008: R+16.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.24%
• Current HPI: 213.6163
• 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

-20.0% since first listed

12 events — show timeline

• 2026-05-06 Price Changed $47,900 CBORMLS
• 2025-12-29 Price Changed $54,900 CBORMLS
• 2025-11-21 Listed $59,900 CBORMLS
• 2023-05-25 Sold (Public Records) — Public Records
• 2023-05-25 Sold (MLS) — HMMLS
• 2023-03-29 Price Changed $85,000 HMMLS
• 2023-02-25 Listed $89,900 HMMLS
• 2022-08-18 Sold (MLS) — HMMLS
• 2020-09-16 Sold (Public Records) — Public Records
• 2020-07-06 Listed $59,900 HMMLS
• 2020-06-12 Sold (Public Records) — Public Records
• 2014-05-01 Sold (Public Records) — Public Records

Property tax history

+10.4%/yr

Latest (2025): $852 · +0.4% YoY. Source: county tax records.