233 Old Salem Rd · Licking, MO 65542

$64,000

3 bd · 1.0 ba · 1,150 sqft · SingleFamily · 37 Days on market

Built 1942 Fair condition 9,583 sqft lot Est $121k · 47% under ↓ 20% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.6/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Welcome to this updated 3 bedroom, 1 bathroom home close to amenities in Licking! Ideally situated on an approximately .22 acre level lot, this home offers new paint, appliances, and flooring throughout! Stepping inside from the inviting covered front porch is a spacious living room. This charming kitchen features abundant cabinet and countertop space, beautiful tile backsplash, and sleek stainless steel appliances. Wainscoting offers more character to this endearing space! The laundry is conveniently located in the kitchen, which is the heart of the home. All 3 bedrooms offer large closets. Completing the floor plan is a full bathroom. A sizable deck overlooks the backyard. The property also offers a shed with electricity. You don't want to miss this one! Schedule your private showing today!

Key facts

• 9,583 sq ft lot
• Built 1942
• Listed 37 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $64k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $345 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($996 rent vs $64k).
• Recommended offer: $62k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 3.3% in Licking — 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 (#265 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, employment F.
• Licking R-VIII (rural): math 30% / reading 44% proficiency, ranked #203 of 324 in MO (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Licking Elem. (math 32% / reading 38%, grade F, #672 of 1,115 statewide, top 60%, 416 students, 99% FRL); Licking High (math 27% / reading 52%, grade F, #247 of 521 statewide, top 55%, 423 students, 99% FRL) — zoned schools average 99% FRL vs 51% district-wide (49 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 50 active listings in the ZIP; 10 units permitted in Texas County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($442 loan paydown + $2k appreciation (3.2% local appreciation)).
• Texas County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $62,080 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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: 1.56% ✓
• Cap rate: 12.76%
• Cash-on-cash: 23.08%
• DSCR: 2.03
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $120,750
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
233 Old Salem Rd	0.00mi	3/1.0	1,150 (0%)	1mo	$64,000	$56	99
223 Charles St	0.28mi	3/1.0	1,075 (-6%)	5mo	$89,000	$83	72
107 Martin St	0.70mi	4/1.0 (+1)	1,166 (+1%)	2mo	$129,900	$111	58
315 Rogers St	0.67mi	2/1.0 (-1)	1,176 (+2%)	2mo	$72,000	$61	58
226 Charles St	0.28mi	3/1.0	1,020 (-11%)	12mo	$79,900	$78	58
228 Charles St	0.28mi	3/2.0	1,248 (+8%)	15mo	$99,900	$80	56
210 Dorsey St	0.46mi	3/2.0	1,052 (-8%)	5mo	$110,000	$105	56
118 College Ave	0.65mi	3/1.0	1,136 (-1%)	22mo	$139,900	$123	50
203 W Friend St	0.67mi	3/1.0	1,160 (+1%)	23mo	$145,000	$125	48
306 Walker St	0.72mi	4/2.0 (+1)	1,320 (+15%)	16mo	$170,000	$129	19

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.19% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.6%
• Equity multiple: 2.69×
• Total profit: $30,340
• Equity at exit: $29,481

10-year hold

• IRR: 29.9%
• Equity multiple: 5.27×
• Total profit: $76,457
• Equity at exit: $45,989

Cash invested: $17,920 (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 65542

• Home prices YoY: 1.4%
• Active inventory: 50
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $996 medium
• Mortgage (P&I): −$336
• Tax est. 1.5%: −$80 /mo · $960/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $345

Break-even live

Break-even rent $560

Max offer price $64,000

Occupancy floor 60%

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-22
   status Pending
2. 2026-03-16
   listed $64,000 Active
3. 2024-11-05
   status Pending 808-char remark

   Show marketing remark (808 chars)

   Welcome to this updated 3 bedroom, 1 bathroom home close to amenities in Licking! Ideally situated on an approximately .22 acre level lot, this home offers new paint, appliances, and flooring throughout! Stepping inside from the inviting covered front porch is a spacious living room. This charming kitchen features abundant cabinet and countertop space, beautiful tile backsplash, and sleek stainless steel appliances. Wainscoting offers more character to this endearing space! The laundry is conveniently located in the kitchen, which is the heart of the home. All 3 bedrooms offer large closets. Completing the floor plan is a full bathroom. A sizable deck overlooks the backyard. The property also offers a shed with electricity. You don't want to miss this one! Schedule your private showing today!

4. 2024-11-05
   soldstatus Closed 808-char remark

   Show marketing remark (808 chars)

   Welcome to this updated 3 bedroom, 1 bathroom home close to amenities in Licking! Ideally situated on an approximately .22 acre level lot, this home offers new paint, appliances, and flooring throughout! Stepping inside from the inviting covered front porch is a spacious living room. This charming kitchen features abundant cabinet and countertop space, beautiful tile backsplash, and sleek stainless steel appliances. Wainscoting offers more character to this endearing space! The laundry is conveniently located in the kitchen, which is the heart of the home. All 3 bedrooms offer large closets. Completing the floor plan is a full bathroom. A sizable deck overlooks the backyard. The property also offers a shed with electricity. You don't want to miss this one! Schedule your private showing today!

5. 2024-10-08
   historical Active Under Contract 808-char remark

   Show marketing remark (808 chars)

   Welcome to this updated 3 bedroom, 1 bathroom home close to amenities in Licking! Ideally situated on an approximately .22 acre level lot, this home offers new paint, appliances, and flooring throughout! Stepping inside from the inviting covered front porch is a spacious living room. This charming kitchen features abundant cabinet and countertop space, beautiful tile backsplash, and sleek stainless steel appliances. Wainscoting offers more character to this endearing space! The laundry is conveniently located in the kitchen, which is the heart of the home. All 3 bedrooms offer large closets. Completing the floor plan is a full bathroom. A sizable deck overlooks the backyard. The property also offers a shed with electricity. You don't want to miss this one! Schedule your private showing today!

6. 2024-09-18
   listed $80,000 Active 808-char remark

   Show marketing remark (808 chars)

   Welcome to this updated 3 bedroom, 1 bathroom home close to amenities in Licking! Ideally situated on an approximately .22 acre level lot, this home offers new paint, appliances, and flooring throughout! Stepping inside from the inviting covered front porch is a spacious living room. This charming kitchen features abundant cabinet and countertop space, beautiful tile backsplash, and sleek stainless steel appliances. Wainscoting offers more character to this endearing space! The laundry is conveniently located in the kitchen, which is the heart of the home. All 3 bedrooms offer large closets. Completing the floor plan is a full bathroom. A sizable deck overlooks the backyard. The property also offers a shed with electricity. You don't want to miss this one! Schedule your private showing today!

ⓘ 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 5/10 Major FEMA zone X · 66% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,954
• − Mortgage interest: −$3,585
• − Property taxes: −$960
• − Insurance: −$320
• − Repairs & maintenance: −$956
• − Management: −$956
• − Depreciation: −$1,862
• Taxable income: $3,315
• Est. tax owed @ 24.0%: −$796
• After-tax cash flow: $3,341/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations, including painting, cleaning, and updating the kitchen and bathroom, as well as landscaping improvements. These updates would significantly increase its resale and rental value.

Repairs flagged

• Major Kitchen sink — Dirty and in need of cleaning.
• Major Bathroom sink — Dirty and in need of cleaning.
• Major Bathroom toilet — Dirty and in need of cleaning.
• Major Bathroom bathtub — Dirty and in need of cleaning.
• Major Landscaping — Overgrown and unkempt, detracting from curb appeal.

Value-add opportunities

• Both Painting and updating kitchen cabinets — Fresh paint and updated cabinets would enhance both resale and rental value.
• Both Deep cleaning and updating bathroom fixtures — Clean and updated bathroom would attract more buyers and renters.
• Both Landscaping and curb appeal improvements — A well-maintained yard and curb appeal would attract more buyers and renters.
• Both Re-carpeting or hardwood flooring — New flooring would improve the home's appearance and increase its value.
• Both HVAC system maintenance or upgrade — A clean and efficient HVAC system would improve comfort and energy efficiency, attracting more buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen sink · Dirty and in need of cleaning.	Major	$15,000–50,000
Bathroom sink · Dirty and in need of cleaning.	Major	$15,000–50,000
Bathroom toilet · Dirty and in need of cleaning.	Major	$15,000–50,000
Bathroom bathtub · Dirty and in need of cleaning.	Major	$15,000–50,000
Landscaping · Overgrown and unkempt, detracting from curb appeal.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Painting and updating kitchen cabinets — Fresh paint and updated cabinets would enhance both resale and rental value. ↑
• Both Deep cleaning and updating bathroom fixtures — Clean and updated bathroom would attract more buyers and renters. ↑
• Both Landscaping and curb appeal improvements — A well-maintained yard and curb appeal would attract more buyers and renters. ↑
• Both Re-carpeting or hardwood flooring — New flooring would improve the home's appearance and increase its value. ↑
• Both HVAC system maintenance or upgrade — A clean and efficient HVAC system would improve comfort and energy efficiency, attracting more buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Licking R-VIII
• NCES district ID: 2918600
• Math proficiency: 30% ▼ -4.00%
• Reading proficiency: 44% ▼ -3.00%
• Median HH income: $33,880
• Composite: 30.41/100
• National rank: #6248
• State rank: #203 of 324 in MO

Livability — Licking

• Score: 65/100
• State rank: #265
• US rank: #12566

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Licking, MO
• Population (ZIP): 6,921

Population outlook (Texas County) Hauer SSP2

• Today (2025): 24,648 people
• By 2030: 23,981 · -2.7%
• By 2040: 22,840 · -7.3%
• By 2050: 21,832 · -11.4%
• By 2075: 19,481 · -21.0%
• By 2100: 16,634 · -32.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 7% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Serbian 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% Arabic 1%

Political lean MEDSL · Texas

• 2024 margin: Solid R (+71.7) · D 13.8% · R 85.5%
• 2008→2024 swing: -36.7pp toward R · 2008: -35.1pp · 2024: -71.7pp
• All cycles: 2024: R+71.7 2020: R+68.6 2016: R+65.4 2012: R+44.1 2008: R+35.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.19%
• Current HPI: 228.0581
• 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

6 events — show timeline

• 2026-04-22 Pending — MARIS as Distributed by MLS Grid
• 2026-03-16 Listed $64,000 MARIS as Distributed by MLS Grid
• 2024-11-05 Pending — MARIS as Distributed by MLS Grid
• 2024-11-05 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2024-10-08 Contingent — MARIS as Distributed by MLS Grid
• 2024-09-18 Listed $80,000 MARIS as Distributed by MLS Grid