502 N Calhoun Ave · Ash Grove, MO 65604

$224,900

3 bd · 2.0 ba · 1,568 sqft · SingleFamily · 43 Days on market

Built 2024 0.45 ac lot Est $205k · 9% over

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Why this score? — see what drove the C- 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 +24.5/30.0
• DSCR +7.9/10.0
• 1% rule +6.3/10.0
• Schools +3.5/10.0
• ARV discount +3.2/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully maintained property in Ash Grove offering a spacious 3 bedroom, 2 bathroom home built in 2024, on just under half an acre! The property features a 20x20 shop with dedicated workshop space, RV hookups with a 30-amp outlet, and a wide range of outdoor amenities designed for both function and enjoyment. Enjoy the beautifully kept landscaping, garden beds, patio space, welded wire fenced yard, fire pit, storm shelter with a deck above, and an additional versatile workshop shed. Inside the home, you'll find an open layout with a spacious living area that flows seamlessly into the kitchen and dining space. The kitchen offers a center island, stainless steel appliances, and abundant cabinet space-perfect for everyday living or entertaining. The primary suite features a walk-in closet and a private full bath with a walk-in shower, while two additional bedrooms share a second full bath. The home is also equipped with gutter guards for added convenience and low-maintenance living. Conveniently located just minutes from the heart of Ash Grove, you'll love the balance of peaceful living with easy access to local dining, schools, and the main highway.

Key facts

• Outdoor amenities
• Workshop shed
• Storm shelter

Tags

• 20X20 SHOP
• RV HOOKUPS
• OUTDOOR AMENITIES
• WELDED WIRE FENCED YARD
• STORM SHELTER
• WORKSHOP SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $460 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 5.4% in Ash Grove — 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 61/100 on livability (#435 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, crime C-, amenities F.
• Ash Grove R-IV (rural): math 33% / reading 50% proficiency, ranked #121 of 324 in MO (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 60 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,302 units permitted in Greene County in 2024 (250 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Greene County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $218,153 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.13% ✓
• Cap rate: 8.75%
• Cash-on-cash: 8.77%
• DSCR: 1.39
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $205,408
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 W College St	0.21mi	3/2.0	1,549 (-1%)	12mo	$198,500	$128	79
103 Northview Ter	0.08mi	3/2.0	1,724 (+10%)	11mo	$245,000	$142	70
206 E Cawlfield St	0.14mi	3/2.5	1,411 (-10%)	6mo	$185,000	$131	69
404 N Mcqueary Ave	0.19mi	3/2.0	1,723 (+10%)	10mo	$239,900	$139	66
206 N Webster Ave	0.47mi	4/2.0 (+1)	1,500 (-4%)	2mo	$109,900	$73	65
407 N Crestview Ave	0.25mi	4/1.5 (+1)	1,800 (+15%)	6mo	$230,000	$128	52
902 E Auburn Dr	0.70mi	3/2.0	1,515 (-3%)	14mo	$249,900	$165	50
412 E Walker St	0.67mi	3/2.0	1,722 (+10%)	6mo	$125,000	$73	47
600 W Cave St	0.71mi	2/1.0 (-1)	1,426 (-9%)	1mo	$59,900	$42	42
203 E Prairie Ln	0.72mi	3/2.5	1,742 (+11%)	6mo	$189,500	$109	42
406 Coyote Pass Pass	0.30mi	4/2.0 (+1)	1,800 (+15%)	18mo	$279,900	$156	41
408 Coyote Pass Pass	0.29mi	4/2.0 (+1)	1,800 (+15%)	19mo	$279,900	$156	41

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: -3.0%
• Equity multiple: 0.89×
• Total profit: $-7,090
• Equity at exit: $33,533

10-year hold

• IRR: 6.7%
• Equity multiple: 1.50×
• Total profit: $31,729
• Equity at exit: $19,445

Cash invested: $62,972 (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 65604

• Home prices YoY: -13.1%
• Active inventory: 60
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,550 medium
• Mortgage (P&I): −$1,179
• Tax est. 1.5%: −$281 /mo · $3,374/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $460

Break-even live

Break-even rent $1,967

Max offer price $224,900

Occupancy floor 77%

Sensitivity live

Price	-10% $616	-5% $538	+0% $460	+5% $383	+10% $305
Rent	-10% $259	-5% $360	+0% $460	+5% $561	+10% $662
Rate	-1.0pp $574	-0.5pp $517	base $460	+0.5pp $402	+1.0pp $343

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
402 Coyote Pass Ash Grove, MO	4.0	2.0	2157	$2,550	$1.18	14d	1	0.31mi

Listing history 13 events

1. 2026-06-15
   status $224,900 Pending 43 DOM
2. 2026-06-15
   days on market $224,900 Active Under Contract 43 DOM
3. 2026-06-14
   days on market $224,900 Active Under Contract 41 DOM
4. 2026-06-10
   statusdays on market $224,900 Active Under Contract 38 DOM
5. 2026-05-08
   status Pending 1184-char remark

   Show marketing remark (1184 chars)

   Welcome to this beautifully maintained property in Ash Grove offering a spacious 3 bedroom, 2 bathroom home built in 2024, on just under half an acre! The property features a 20x20 shop with dedicated workshop space, RV hookups with a 30-amp outlet, and a wide range of outdoor amenities designed for both function and enjoyment. Enjoy the beautifully kept landscaping, garden beds, patio space, welded wire fenced yard, fire pit, storm shelter with a deck above, and an additional versatile workshop shed. Inside the home, you'll find an open layout with a spacious living area that flows seamlessly into the kitchen and dining space. The kitchen offers a center island, stainless steel appliances, and abundant cabinet space-perfect for everyday living or entertaining. The primary suite features a walk-in closet and a private full bath with a walk-in shower, while two additional bedrooms share a second full bath. The home is also equipped with gutter guards for added convenience and low-maintenance living. Conveniently located just minutes from the heart of Ash Grove, you'll love the balance of peaceful living with easy access to local dining, schools, and the main highway.

6. 2026-04-30
   price $224,900 1184-char remark

   Show marketing remark (1184 chars)

   Welcome to this beautifully maintained property in Ash Grove offering a spacious 3 bedroom, 2 bathroom home built in 2024, on just under half an acre! The property features a 20x20 shop with dedicated workshop space, RV hookups with a 30-amp outlet, and a wide range of outdoor amenities designed for both function and enjoyment. Enjoy the beautifully kept landscaping, garden beds, patio space, welded wire fenced yard, fire pit, storm shelter with a deck above, and an additional versatile workshop shed. Inside the home, you'll find an open layout with a spacious living area that flows seamlessly into the kitchen and dining space. The kitchen offers a center island, stainless steel appliances, and abundant cabinet space-perfect for everyday living or entertaining. The primary suite features a walk-in closet and a private full bath with a walk-in shower, while two additional bedrooms share a second full bath. The home is also equipped with gutter guards for added convenience and low-maintenance living. Conveniently located just minutes from the heart of Ash Grove, you'll love the balance of peaceful living with easy access to local dining, schools, and the main highway.

7. 2026-04-17
   price $239,900 1184-char remark

   Show marketing remark (1184 chars)

   Welcome to this beautifully maintained property in Ash Grove offering a spacious 3 bedroom, 2 bathroom home built in 2024, on just under half an acre! The property features a 20x20 shop with dedicated workshop space, RV hookups with a 30-amp outlet, and a wide range of outdoor amenities designed for both function and enjoyment. Enjoy the beautifully kept landscaping, garden beds, patio space, welded wire fenced yard, fire pit, storm shelter with a deck above, and an additional versatile workshop shed. Inside the home, you'll find an open layout with a spacious living area that flows seamlessly into the kitchen and dining space. The kitchen offers a center island, stainless steel appliances, and abundant cabinet space-perfect for everyday living or entertaining. The primary suite features a walk-in closet and a private full bath with a walk-in shower, while two additional bedrooms share a second full bath. The home is also equipped with gutter guards for added convenience and low-maintenance living. Conveniently located just minutes from the heart of Ash Grove, you'll love the balance of peaceful living with easy access to local dining, schools, and the main highway.

8. 2026-04-01
   listed $250,000 Active 1184-char remark

   Show marketing remark (1184 chars)

   Welcome to this beautifully maintained property in Ash Grove offering a spacious 3 bedroom, 2 bathroom home built in 2024, on just under half an acre! The property features a 20x20 shop with dedicated workshop space, RV hookups with a 30-amp outlet, and a wide range of outdoor amenities designed for both function and enjoyment. Enjoy the beautifully kept landscaping, garden beds, patio space, welded wire fenced yard, fire pit, storm shelter with a deck above, and an additional versatile workshop shed. Inside the home, you'll find an open layout with a spacious living area that flows seamlessly into the kitchen and dining space. The kitchen offers a center island, stainless steel appliances, and abundant cabinet space-perfect for everyday living or entertaining. The primary suite features a walk-in closet and a private full bath with a walk-in shower, while two additional bedrooms share a second full bath. The home is also equipped with gutter guards for added convenience and low-maintenance living. Conveniently located just minutes from the heart of Ash Grove, you'll love the balance of peaceful living with easy access to local dining, schools, and the main highway.

9. 2024-01-08
   soldstatus
10. 2024-01-05
    soldstatus Closed 239-char remark

    Show marketing remark (239 chars)

    Great oversized lot with existing shop building. Ready to build! The nice mature trees and the charming tree-lined street in historic Ash Grove, make this an ideal location to build your dream home. Only a 20 minute commute to Springfield.

11. 2023-12-20
    status Pending 239-char remark

    Show marketing remark (239 chars)

    Great oversized lot with existing shop building. Ready to build! The nice mature trees and the charming tree-lined street in historic Ash Grove, make this an ideal location to build your dream home. Only a 20 minute commute to Springfield.

12. 2023-10-31
    listed $29,900 Active 239-char remark

    Show marketing remark (239 chars)

    Great oversized lot with existing shop building. Ready to build! The nice mature trees and the charming tree-lined street in historic Ash Grove, make this an ideal location to build your dream home. Only a 20 minute commute to Springfield.

13. 2022-04-18
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $30,600
• − Mortgage interest: −$12,598
• − Property taxes: −$3,374
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,448
• − Management: −$2,448
• − Depreciation: −$6,543
• Taxable income: $2,066
• Est. tax owed @ 24.0%: −$496
• After-tax cash flow: $5,027/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: Ash Grove R-IV
• NCES district ID: 2903270
• Math proficiency: 33% ▼ -7.00%
• Reading proficiency: 50% ▲ 1.00%
• Median HH income: $47,679
• Composite: 35.45/100
• National rank: #4929
• State rank: #121 of 324 in MO

Livability — Ash Grove

• Score: 61/100
• State rank: #435
• US rank: #17867

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ash Grove, MO
• Population (ZIP): 3,909

Population outlook (Greene County) Hauer SSP2

• Today (2025): 319,054 people
• By 2030: 335,135 · +5.0%
• By 2040: 366,186 · +14.8%
• By 2050: 397,431 · +24.6%
• By 2075: 477,035 · +49.5%
• By 2100: 520,828 · +63.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Greene

• 2024 margin: Strong R (+20.8) · D 38.9% · R 59.7% · Other 1.4%
• 2008→2024 swing: -5.0pp toward R · 2008: -15.8pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+20.1 2016: R+27.4 2012: R+24.4 2008: R+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -34.86%
• Current HPI: 231.5643
• 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

+652.2% since first listed

9 events — show timeline

• 2026-05-08 Pending — SOMO
• 2026-04-30 Price Changed $224,900 SOMO
• 2026-04-17 Price Changed $239,900 SOMO
• 2026-04-01 Listed $250,000 SOMO
• 2024-01-08 Sold (Public Records) — Public Records
• 2024-01-05 Sold (MLS) — SOMO
• 2023-12-20 Pending — SOMO
• 2023-10-31 Listed $29,900 SOMO
• 2022-04-18 Sold (Public Records) — Public Records

Property tax history

-9.5%/yr

Latest (2025): $182 · -0.0% YoY. Source: county tax records.