2407 Pearson Cir · Harrisonville, MO 64701

$205,000

3 bd · 2.0 ba · 1,424 sqft · SingleFamily public records · 75 Days on market

Built 1986 5,009 sqft lot $144/sqft · 27% below area Est $252k · 19% under

---

Why this score? — see what drove the D 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 +10.1/30.0
• Schools +3.4/10.0
• Livability +3.3/5.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

BACK ON MARKET- NO FAULT OF SELLERS! 3 bedroom 2 bath duplex offers comfortable main-level living with a finished walk-out basement for additional living space. The inviting living room features a cozy fireplace, perfect for relaxing evenings. Enjoy outdoor living with both a wood deck and a lower patio area overlooking a fenced-in backyard. The home also includes a one-car garage and a long driveway providing plenty of parking. Major updates include a 6-year-old roof. Convenient location with easy access to local amenities while still offering a peaceful neighborhood setting.

Key facts

• Garage
• Built 1986
• Listed 75 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $-175 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (15.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $147k (28.3% below list).
• Recommended offer: $147k (28.3% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 3.2% in Harrisonville — 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 66/100 on livability (#231 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Harrisonville R-IX (town): math 32% / reading 46% proficiency, ranked #150 of 324 in MO (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 119 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 588 units permitted in Cass County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Cass County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y 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: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,030 (28.3% 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 75 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
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: 0.72% ✗
• Cap rate: 5.60%
• Cash-on-cash: -2.49%
• DSCR: 0.89
• GRM: 11.6

CMA / ARV

• ARV (median comp): $252,334
• List price: $205,000
• Delta: -18.76%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
501 Pheasant St	0.13mi	3/2.0	1,301 (-9%)	0mo	$249,900	$192	79
2001 Quail St	0.25mi	3/1.5	1,383 (-3%)	14mo	$243,750	$176	69
405 Osage St	0.10mi	3/1.0	1,214 (-15%)	3mo	$269,000	$222	64
2200 Meadowlark Dr	0.25mi	3/2.0	1,627 (+14%)	4mo	$320,000	$197	61
602 Bird Ave	0.43mi	3/1.5	1,368 (-4%)	15mo	$200,000	$146	59
2205 Meadowlark Dr	0.26mi	3/1.0	1,241 (-13%)	6mo	$235,000	$189	57
1403 E Mechanic St	0.51mi	4/2.5 (+1)	1,536 (+8%)	9mo	$269,999	$176	49
1600 Blueberry Dr	0.74mi	3/2.0	1,296 (-9%)	12mo	$235,000	$181	40
1609 Stacy Rd	0.70mi	3/1.5	1,600 (+12%)	7mo	$259,900	$162	39
1702 Blueberry Dr	0.68mi	4/2.0 (+1)	1,568 (+10%)	10mo	$290,000	$185	38
1100 E Pine St	0.70mi	3/2.0	1,588 (+12%)	15mo	$265,000	$167	36
1000 E Mechanic St	0.71mi	4/2.0 (+1)	1,628 (+14%)	12mo	$295,000	$181	28

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: -22.5%
• Equity multiple: 0.23×
• Total profit: $-44,375
• Equity at exit: $30,566

10-year hold

• IRR: -16.7%
• Equity multiple: 0.08×
• Total profit: $-53,081
• Equity at exit: $17,725

Cash invested: $57,400 (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 64701

• Active inventory: 119
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,470 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$120 /mo · $1,443/yr
• Insurance: −$85
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $-175

Break-even live

Break-even rent $1,691

Max offer price $174,134

Occupancy floor —

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
900 Mission Rd Harrisonville, MO	3.0	2.0	1300	$1,575	$1.21	7d	1	0.32mi
902 Mission Rd Harrisonville, MO	3.0	2.0	1300	$1,495	$1.15	1d	1	0.32mi
2201 Twin Oaks Dr Apt 1 Harrisonville, MO	3.0	1.5	1100	$1,300	$1.18	1d	1	0.34mi
1001 Twin Oaks Ter Unit 52 Harrisonville, MO	3.0	2.0	1100	$1,400	$1.27	1d	1	0.34mi
2002 Ann Ave Harrisonville, MO	3.0	2.0	1066	$1,649	$1.55	16d	1	0.69mi
701 Linwood Dr Harrisonville, MO	2.0	1.5	915	$1,275	$1.39	1d	1	1.02mi
300 N Independence St Unit B Harrisonville, MO	3.0	2.0	1520	$1,600	$1.05	43d	1	1.16mi

Listing history 23 events

1. 2026-06-09
   days on market $205,000 Active 75 DOM
2. 2026-06-08
   days on market $205,000 Active 74 DOM
3. 2026-06-07
   days on market $205,000 Active 73 DOM
4. 2026-06-03
   days on market $205,000 Active 69 DOM
5. 2026-06-02
   days on market $205,000 Active 68 DOM
6. 2026-06-01
   days on market $205,000 Active 67 DOM
7. 2026-05-31
   days on market $205,000 Active 66 DOM
8. 2026-05-02
   status Active 583-char remark

   Show marketing remark (583 chars)

   BACK ON MARKET- NO FAULT OF SELLERS! 3 bedroom 2 bath duplex offers comfortable main-level living with a finished walk-out basement for additional living space. The inviting living room features a cozy fireplace, perfect for relaxing evenings. Enjoy outdoor living with both a wood deck and a lower patio area overlooking a fenced-in backyard. The home also includes a one-car garage and a long driveway providing plenty of parking. Major updates include a 6-year-old roof. Convenient location with easy access to local amenities while still offering a peaceful neighborhood setting.

9. 2026-04-30
   historical Active Under Contract 583-char remark

   Show marketing remark (583 chars)

   BACK ON MARKET- NO FAULT OF SELLERS! 3 bedroom 2 bath duplex offers comfortable main-level living with a finished walk-out basement for additional living space. The inviting living room features a cozy fireplace, perfect for relaxing evenings. Enjoy outdoor living with both a wood deck and a lower patio area overlooking a fenced-in backyard. The home also includes a one-car garage and a long driveway providing plenty of parking. Major updates include a 6-year-old roof. Convenient location with easy access to local amenities while still offering a peaceful neighborhood setting.

10. 2026-04-15
    status Pending 583-char remark

    Show marketing remark (583 chars)

    BACK ON MARKET- NO FAULT OF SELLERS! 3 bedroom 2 bath duplex offers comfortable main-level living with a finished walk-out basement for additional living space. The inviting living room features a cozy fireplace, perfect for relaxing evenings. Enjoy outdoor living with both a wood deck and a lower patio area overlooking a fenced-in backyard. The home also includes a one-car garage and a long driveway providing plenty of parking. Major updates include a 6-year-old roof. Convenient location with easy access to local amenities while still offering a peaceful neighborhood setting.

11. 2026-04-04
    price $205,000 583-char remark

    Show marketing remark (583 chars)

    BACK ON MARKET- NO FAULT OF SELLERS! 3 bedroom 2 bath duplex offers comfortable main-level living with a finished walk-out basement for additional living space. The inviting living room features a cozy fireplace, perfect for relaxing evenings. Enjoy outdoor living with both a wood deck and a lower patio area overlooking a fenced-in backyard. The home also includes a one-car garage and a long driveway providing plenty of parking. Major updates include a 6-year-old roof. Convenient location with easy access to local amenities while still offering a peaceful neighborhood setting.

12. 2026-03-12
    listed $215,000 Active 583-char remark

    Show marketing remark (583 chars)

    BACK ON MARKET- NO FAULT OF SELLERS! 3 bedroom 2 bath duplex offers comfortable main-level living with a finished walk-out basement for additional living space. The inviting living room features a cozy fireplace, perfect for relaxing evenings. Enjoy outdoor living with both a wood deck and a lower patio area overlooking a fenced-in backyard. The home also includes a one-car garage and a long driveway providing plenty of parking. Major updates include a 6-year-old roof. Convenient location with easy access to local amenities while still offering a peaceful neighborhood setting.

13. 2026-03-11
    historical $215,000 583-char remark

    Show marketing remark (583 chars)

    BACK ON MARKET- NO FAULT OF SELLERS! 3 bedroom 2 bath duplex offers comfortable main-level living with a finished walk-out basement for additional living space. The inviting living room features a cozy fireplace, perfect for relaxing evenings. Enjoy outdoor living with both a wood deck and a lower patio area overlooking a fenced-in backyard. The home also includes a one-car garage and a long driveway providing plenty of parking. Major updates include a 6-year-old roof. Convenient location with easy access to local amenities while still offering a peaceful neighborhood setting.

14. 2023-10-06
    soldstatus
15. 2017-03-06
    soldstatus
16. 2017-03-03
    soldstatus Sold
17. 2017-01-24
    status Pending
18. 2016-12-09
    listed $89,950 Active
19. 2016-12-01
    historical
20. 2016-05-20
    listed $89,950 Active
21. 2014-11-25
    soldstatus
22. 2014-11-21
    soldstatus
23. 2014-07-31
    listed $79,900

ⓘ 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: $1,443 · $120/mo
• Projected year-2 tax: $1,988 · $166/mo
• Expected delta: +$545/yr (+$45/mo · 37.8%)

ⓘ 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) · 76% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥109°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,644
• − Mortgage interest: −$11,483
• − Property taxes: −$1,443
• − Insurance: −$1,692
• − Repairs & maintenance: −$1,411
• − Management: −$1,411
• − Depreciation: −$5,964
• Taxable loss: −$5,761
• Est. tax savings @ 24.0%: +$1,383
• After-tax cash flow: $-714/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: Harrisonville R-IX
• NCES district ID: 2913760
• Math proficiency: 32% ▼ -6.00%
• Reading proficiency: 46% ▬ 0.00%
• Median HH income: $49,997
• Composite: 33.61/100
• National rank: #5409
• State rank: #150 of 324 in MO

Livability — Harrisonville

• Score: 66/100
• State rank: #231
• US rank: #11262

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harrisonville, MO
• Population (ZIP): 14,462

Population outlook (Cass County) Hauer SSP2

• Today (2025): 105,292 people
• By 2030: 106,109 · +0.8%
• By 2040: 105,786 · +0.5%
• By 2050: 102,062 · -3.1%
• By 2075: 88,569 · -15.9%
• By 2100: 68,293 · -35.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Serbian 3% Lithuanian 2% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+32.1) · D 33.3% · R 65.4% · Other 1.3%
• 2008→2024 swing: -12.5pp toward R · 2008: -19.6pp · 2024: -32.1pp
• All cycles: 2024: R+32.1 2020: R+31.6 2016: R+35.9 2012: R+28.4 2008: R+19.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -118.32%
• Current HPI: 204.7926
• 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

+156.6% since first listed

16 events — show timeline

• 2026-05-02 Relisted — Heartland MLS as Distributed by MLS Grid
• 2026-04-30 Contingent — Heartland MLS as Distributed by MLS Grid
• 2026-04-15 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-04 Price Changed $205,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-12 Listed $215,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-11 Coming Soon $215,000 Heartland MLS as Distributed by MLS Grid
• 2023-10-06 Sold (Public Records) — Public Records
• 2017-03-06 Sold (Public Records) — Public Records
• 2017-03-03 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2017-01-24 Pending — Heartland MLS as Distributed by MLS Grid
• 2016-12-09 Listed $89,950 Heartland MLS as Distributed by MLS Grid
• 2016-12-01 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2016-05-20 Listed $89,950 Heartland MLS as Distributed by MLS Grid
• 2014-11-25 Sold (Public Records) — Public Records
• 2014-11-21 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2014-07-31 Listed $79,900 Heartland MLS as Distributed by MLS Grid

Property tax history

+5.7%/yr

Latest (2025): $1,443 · +12.7% YoY. Source: county tax records.