511 N Main St · Corder, MO 64021

$179,000

3 bd · 1.0 ba · 1,448 sqft · SingleFamily public records · 20 Days on market

Built 1900 0.32 ac lot Est $138k · 30% over

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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).

• Cash flow +11.3/30.0
• Appreciation +8.2/10.0
• DSCR +3.3/10.0
• Livability +3.3/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Great 1.5 Story Home, 3 large bedrooms, plus 1 bath right outside of Higginsville. This home has nice upgrades throughout. Updated bath, flooring and fresh paint throughout. Main level living with laundry/mudroom right off the kitchen. Two large bedrooms are upstairs. Oversized garage, new gutters, metal roof. The home sits on 2 lots with fenced backyard. Perfect opportunity to come make this home your own!

Key facts

• 0.32 acre lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $-66 ($-788/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (6.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (28.8% below list).
• Recommended offer: $127k (28.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#255 in MO) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Lafayette County C-1 (town): math 26% / reading 43% proficiency, ranked #221 of 324 in MO (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Grandview Elem. (math 22% / reading 37%, grade F, #813 of 1,115 statewide, top 75%, 457 students, 49% FRL); Lafayette Co. Middle (math 18% / reading 43%, grade F, #283 of 391 statewide, top 74%, 213 students, 51% FRL); Lafayette Co. High (math 42% / reading 52%, grade D-, #155 of 521 statewide, top 32%, 310 students, 41% FRL).
• Market conditions: 2 active listings in the ZIP; 112 units permitted in Lafayette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($1k loan paydown + $11k appreciation (6.3% local appreciation)).
• Lafayette County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.3% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask is 10% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,492 (28.8% 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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.71% ✗
• Cap rate: 5.85%
• Cash-on-cash: -1.57%
• DSCR: 0.93
• GRM: 11.7

CMA / ARV

• ARV (on-the-fly): $137,560
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
601 N Elizabeth St	0.09mi	3/1.5	1,471 (+2%)	11mo	$189,000	$128	82
317 N Main St	0.16mi	3/2.0	1,550 (+7%)	8mo	$259,900	$168	70
311 Park St	0.25mi	3/1.5	1,600 (+10%)	7mo	$152,500	$95	63
321 N Grand St	0.21mi	3/2.0	1,600 (+10%)	12mo	$123,000	$77	59
403 S Lafayette St	0.59mi	3/1.0	1,334 (-8%)	10mo	$99,900	$75	51
605 E North St	0.38mi	2/1.5 (-1)	1,527 (+6%)	23mo	$210,000	$138	47
401 N Elizabeth St	0.14mi	2/1.0 (-1)	1,252 (-14%)	23mo	$89,000	$71	47

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

Projected returns pro-forma

6.31% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.8%
• Equity multiple: 2.01×
• Total profit: $50,741
• Equity at exit: $116,065

10-year hold

• IRR: 14.9%
• Equity multiple: 4.02×
• Total profit: $151,545
• Equity at exit: $213,601

Cash invested: $50,120 (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 64021

• Home prices YoY: 2.4%
• Active inventory: 2
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,275 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$60 /mo · $715/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $-66

Break-even live

Break-even rent $1,358

Max offer price $167,394

Occupancy floor —

Sensitivity live

Price	-10% $36	-5% $-15	+0% $-66	+5% $-116	+10% $-167
Rent	-10% $-166	-5% $-116	+0% $-66	+5% $-15	+10% $35
Rate	-1.0pp $24	-0.5pp $-20	base $-66	+0.5pp $-112	+1.0pp $-159

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-22
   days on market $179,000 Active 20 DOM
2. 2026-06-21
   days on market $179,000 Active 19 DOM
3. 2026-06-19
   days on market $179,000 Active 17 DOM
4. 2026-06-18
   days on market $179,000 Active 16 DOM
5. 2026-06-17
   days on market $179,000 Active 15 DOM
6. 2026-06-16
   days on market $179,000 Active 14 DOM
7. 2026-06-15
   days on market $179,000 Active 13 DOM
8. 2026-06-14
   days on market $179,000 Active 11 DOM
9. 2026-06-12
   remarks 687-char remark
10. 2026-06-12
    pricestatusdays on market $179,000 Active 10 DOM
11. 2026-05-05
    status Pending
12. 2026-04-10
    price $171,000
13. 2026-04-10
    historical
14. 2026-04-01
    listed $162,000 Active
15. 2026-03-27
    historical $162,000
16. 2022-04-22
    soldstatus Closed 410-char remark

    Show marketing remark (410 chars)

    Great 1.5 Story Home, 3 large bedrooms, plus 1 bath right outside of Higginsville. This home has nice upgrades throughout. Updated bath, flooring and fresh paint throughout. Main level living with laundry/mudroom right off the kitchen. Two large bedrooms are upstairs. Oversized garage, new gutters, metal roof. The home sits on 2 lots with fenced backyard. Perfect opportunity to come make this home your own!

17. 2022-04-22
    soldstatus

    Show marketing remark (410 chars)

    Great 1.5 Story Home, 3 large bedrooms, plus 1 bath right outside of Higginsville. This home has nice upgrades throughout. Updated bath, flooring and fresh paint throughout. Main level living with laundry/mudroom right off the kitchen. Two large bedrooms are upstairs. Oversized garage, new gutters, metal roof. The home sits on 2 lots with fenced backyard. Perfect opportunity to come make this home your own!

18. 2022-03-13
    status Pending 410-char remark

    Show marketing remark (410 chars)

    Great 1.5 Story Home, 3 large bedrooms, plus 1 bath right outside of Higginsville. This home has nice upgrades throughout. Updated bath, flooring and fresh paint throughout. Main level living with laundry/mudroom right off the kitchen. Two large bedrooms are upstairs. Oversized garage, new gutters, metal roof. The home sits on 2 lots with fenced backyard. Perfect opportunity to come make this home your own!

19. 2022-03-08
    price $115,000 410-char remark

    Show marketing remark (410 chars)

    Great 1.5 Story Home, 3 large bedrooms, plus 1 bath right outside of Higginsville. This home has nice upgrades throughout. Updated bath, flooring and fresh paint throughout. Main level living with laundry/mudroom right off the kitchen. Two large bedrooms are upstairs. Oversized garage, new gutters, metal roof. The home sits on 2 lots with fenced backyard. Perfect opportunity to come make this home your own!

20. 2022-02-13
    price $125,000 410-char remark

    Show marketing remark (410 chars)

    Great 1.5 Story Home, 3 large bedrooms, plus 1 bath right outside of Higginsville. This home has nice upgrades throughout. Updated bath, flooring and fresh paint throughout. Main level living with laundry/mudroom right off the kitchen. Two large bedrooms are upstairs. Oversized garage, new gutters, metal roof. The home sits on 2 lots with fenced backyard. Perfect opportunity to come make this home your own!

21. 2022-02-08
    listed $135,000 Active 410-char remark

    Show marketing remark (410 chars)

    Great 1.5 Story Home, 3 large bedrooms, plus 1 bath right outside of Higginsville. This home has nice upgrades throughout. Updated bath, flooring and fresh paint throughout. Main level living with laundry/mudroom right off the kitchen. Two large bedrooms are upstairs. Oversized garage, new gutters, metal roof. The home sits on 2 lots with fenced backyard. Perfect opportunity to come make this home your own!

22. 2020-11-24
    soldstatus
23. 2020-11-23
    soldstatus Closed 235-char remark

    Show marketing remark (235 chars)

    Motivated Seller selling a Spacious home w good sized rooms, large attached garage, rear fenced yard on double lot, covered front porch, updated metal roof. Home need some TLC, in a quiet area w small town atmosphere. Call for an appt.

24. 2020-10-12
    status Pending 235-char remark

    Show marketing remark (235 chars)

    Motivated Seller selling a Spacious home w good sized rooms, large attached garage, rear fenced yard on double lot, covered front porch, updated metal roof. Home need some TLC, in a quiet area w small town atmosphere. Call for an appt.

25. 2020-10-01
    listed $79,900 Active 235-char remark

    Show marketing remark (235 chars)

    Motivated Seller selling a Spacious home w good sized rooms, large attached garage, rear fenced yard on double lot, covered front porch, updated metal roof. Home need some TLC, in a quiet area w small town atmosphere. Call for an appt.

26. 2018-08-13
    soldstatus Sold
27. 2018-06-30
    status Pending
28. 2018-06-27
    price $74,900
29. 2017-12-26
    listed $79,900 Active
30. 2014-09-30
    soldstatus
31. 2014-04-24
    listed $29,900

ⓘ 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: $715 · $60/mo
• Projected year-2 tax: $1,736 · $145/mo
• Expected delta: +$1,021/yr (+$85/mo · 142.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 17 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: $15,299
• − Mortgage interest: −$10,027
• − Property taxes: −$715
• − Insurance: −$895
• − Repairs & maintenance: −$1,224
• − Management: −$1,224
• − Depreciation: −$5,207
• Taxable loss: −$3,993
• Est. tax savings @ 24.0%: +$958
• After-tax cash flow: $170/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: Lafayette County C-1
• NCES district ID: 2914400
• Math proficiency: 26% ▼ -2.00%
• Reading proficiency: 43% ▬ 0.00%
• Median HH income: $46,595
• Composite: 29.54/100
• National rank: #6493
• State rank: #221 of 324 in MO

Livability — Corder

• Score: 66/100
• State rank: #255
• US rank: #12366

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corder, MO
• Population (ZIP): 675

Population outlook (Lafayette County) Hauer SSP2

• Today (2025): 31,118 people
• By 2030: 29,993 · -3.6%
• By 2040: 27,436 · -11.8%
• By 2050: 24,585 · -21.0%
• By 2075: 18,426 · -40.8%
• By 2100: 12,897 · -58.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Native American 4% Two or more races 3% Black 2%
• Common ancestry: Iranian 4% Portuguese 1% Romanian 1%
• Foreign-born: 1%

Political lean MEDSL · Lafayette

• 2024 margin: Solid R (+48.9) · D 24.9% · R 73.8% · Other 1.3%
• 2008→2024 swing: -33.6pp toward R · 2008: -15.3pp · 2024: -48.9pp
• All cycles: 2024: R+48.9 2020: R+45.7 2016: R+43.8 2012: R+26.3 2008: R+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.31%
• Current HPI: 274.6917
• 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

+471.9% since first listed

21 events — show timeline

• 2026-05-05 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-10 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2026-04-10 Price Changed $171,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-01 Listed $162,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-27 Coming Soon $162,000 Heartland MLS as Distributed by MLS Grid
• 2022-04-22 Sold (Public Records) — Public Records
• 2022-04-22 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2022-03-13 Pending — Heartland MLS as Distributed by MLS Grid
• 2022-03-08 Price Changed $115,000 Heartland MLS as Distributed by MLS Grid
• 2022-02-13 Price Changed $125,000 Heartland MLS as Distributed by MLS Grid
• 2022-02-08 Listed $135,000 Heartland MLS as Distributed by MLS Grid
• 2020-11-24 Sold (Public Records) — Public Records
• 2020-11-23 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2020-10-12 Pending — Heartland MLS as Distributed by MLS Grid
• 2020-10-01 Listed $79,900 Heartland MLS as Distributed by MLS Grid
• 2018-08-13 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2018-06-30 Pending — Heartland MLS as Distributed by MLS Grid
• 2018-06-27 Price Changed $74,900 Heartland MLS as Distributed by MLS Grid
• 2017-12-26 Listed $79,900 Heartland MLS as Distributed by MLS Grid
• 2014-09-30 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2014-04-24 Listed $29,900 Heartland MLS as Distributed by MLS Grid

Property tax history

+1.4%/yr

Latest (2025): $715 · +13.0% YoY. Source: county tax records.