402 N Lee St · Leeton, MO 64761

$169,900

2 bd · 2.0 ba · 1,338 sqft · Other public records · 58 Days on market

Built 1956 8,400 sqft lot $127/sqft · 6% below area Est $181k · 6% under

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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).

• ARV discount +10.2/15.0
• Cash flow +7.8/30.0
• Appreciation +7.7/10.0
• Schools +4.8/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• 1% rule +1.2/10.0

Listing remarks MLS

Remodeled and ready for its next owner! This 2-bedroom, 2-bath ranch-style home offers fresh updates and inviting curb appeal. Situated on a spacious lot with mature trees, this home showcases an updated front porch, fresh wooden shutters, and a large back patio/carport providing plenty of room to enjoy the outdoors. Located within the Leeton city limits, the home is conveniently situated approximately 20 minutes from Whiteman Air Force Base, Warrensburg, and Clinton MO. As you step inside you will notice freshly painted walls and beautiful hardwood floors throughout the living room. Large windows allow plenty of natural light to fill the space, creating a bright and welcoming feel. The open-concept kitchen and dining area provide plenty of room to gather and entertain. The primary bedroom features hardwood floors and a large walk-in closet. The primary bathroom includes a newly installed tub/shower combo. An additional bonus room offers flexible space with endless possibilities that could be perfect for a home office, playroom, or even a non-conforming third bedroom. This move-in-ready home is waiting for its next owner. Schedule your showing today!

Key facts

• Large back patio
• Open-concept kitchen
• Walk-in closet

Tags

• UPDATED FRONT PORCH
• LARGE BACK PATIO
• HARDWOOD FLOORS
• OPEN-CONCEPT KITCHEN
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $170k.

Deal economics

• At list price, monthly cash flow is $-189 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (19.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (37.7% below list).
• Recommended offer: $106k (37.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 58/100 on livability (#587 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Leeton R-X (rural): math 55% / reading 55% proficiency, ranked #67 of 535 in MO (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 13 active listings in the ZIP; 80 units permitted in Johnson County in 2024 (27 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($1k loan paydown + $9k appreciation (5.3% local appreciation)).
• Johnson County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 4, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y ago; this cycle's ask has dropped $19k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,809 (37.7% 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 58 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
3. Built in 1956 — 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 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?
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. 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?
8. 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.
9. 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.
10. 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: 0.62% ✗
• Cap rate: 4.96%
• Cash-on-cash: -4.77%
• DSCR: 0.79
• GRM: 13.4

CMA / ARV

• ARV (median comp): $180,906
• List price: $169,900
• Delta: -6.08%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

5.31% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.7%
• Equity multiple: 1.63×
• Total profit: $30,111
• Equity at exit: $99,544

10-year hold

• IRR: 11.1%
• Equity multiple: 3.10×
• Total profit: $99,942
• Equity at exit: $174,561

Cash invested: $47,572 (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 64761

• Home prices YoY: 2.5%
• Active inventory: 13
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $1,058 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$63 /mo · $758/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $-189

Break-even live

Break-even rent $1,297

Max offer price $136,502

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-05-15
   status Pending 1168-char remark

   Show marketing remark (1168 chars)

   Remodeled and ready for its next owner! This 2-bedroom, 2-bath ranch-style home offers fresh updates and inviting curb appeal. Situated on a spacious lot with mature trees, this home showcases an updated front porch, fresh wooden shutters, and a large back patio/carport providing plenty of room to enjoy the outdoors. Located within the Leeton city limits, the home is conveniently situated approximately 20 minutes from Whiteman Air Force Base, Warrensburg, and Clinton MO. As you step inside you will notice freshly painted walls and beautiful hardwood floors throughout the living room. Large windows allow plenty of natural light to fill the space, creating a bright and welcoming feel. The open-concept kitchen and dining area provide plenty of room to gather and entertain. The primary bedroom features hardwood floors and a large walk-in closet. The primary bathroom includes a newly installed tub/shower combo. An additional bonus room offers flexible space with endless possibilities that could be perfect for a home office, playroom, or even a non-conforming third bedroom. This move-in-ready home is waiting for its next owner. Schedule your showing today!

2. 2026-05-15
   status Pending 1168-char remark

   Show marketing remark (1168 chars)

   Remodeled and ready for its next owner! This 2-bedroom, 2-bath ranch-style home offers fresh updates and inviting curb appeal. Situated on a spacious lot with mature trees, this home showcases an updated front porch, fresh wooden shutters, and a large back patio/carport providing plenty of room to enjoy the outdoors. Located within the Leeton city limits, the home is conveniently situated approximately 20 minutes from Whiteman Air Force Base, Warrensburg, and Clinton MO. As you step inside you will notice freshly painted walls and beautiful hardwood floors throughout the living room. Large windows allow plenty of natural light to fill the space, creating a bright and welcoming feel. The open-concept kitchen and dining area provide plenty of room to gather and entertain. The primary bedroom features hardwood floors and a large walk-in closet. The primary bathroom includes a newly installed tub/shower combo. An additional bonus room offers flexible space with endless possibilities that could be perfect for a home office, playroom, or even a non-conforming third bedroom. This move-in-ready home is waiting for its next owner. Schedule your showing today!

3. 2026-05-10
   price $169,900 1168-char remark

   Show marketing remark (1168 chars)

   Remodeled and ready for its next owner! This 2-bedroom, 2-bath ranch-style home offers fresh updates and inviting curb appeal. Situated on a spacious lot with mature trees, this home showcases an updated front porch, fresh wooden shutters, and a large back patio/carport providing plenty of room to enjoy the outdoors. Located within the Leeton city limits, the home is conveniently situated approximately 20 minutes from Whiteman Air Force Base, Warrensburg, and Clinton MO. As you step inside you will notice freshly painted walls and beautiful hardwood floors throughout the living room. Large windows allow plenty of natural light to fill the space, creating a bright and welcoming feel. The open-concept kitchen and dining area provide plenty of room to gather and entertain. The primary bedroom features hardwood floors and a large walk-in closet. The primary bathroom includes a newly installed tub/shower combo. An additional bonus room offers flexible space with endless possibilities that could be perfect for a home office, playroom, or even a non-conforming third bedroom. This move-in-ready home is waiting for its next owner. Schedule your showing today!

4. 2026-05-10
   price $169,900 1168-char remark

   Show marketing remark (1168 chars)

   Remodeled and ready for its next owner! This 2-bedroom, 2-bath ranch-style home offers fresh updates and inviting curb appeal. Situated on a spacious lot with mature trees, this home showcases an updated front porch, fresh wooden shutters, and a large back patio/carport providing plenty of room to enjoy the outdoors. Located within the Leeton city limits, the home is conveniently situated approximately 20 minutes from Whiteman Air Force Base, Warrensburg, and Clinton MO. As you step inside you will notice freshly painted walls and beautiful hardwood floors throughout the living room. Large windows allow plenty of natural light to fill the space, creating a bright and welcoming feel. The open-concept kitchen and dining area provide plenty of room to gather and entertain. The primary bedroom features hardwood floors and a large walk-in closet. The primary bathroom includes a newly installed tub/shower combo. An additional bonus room offers flexible space with endless possibilities that could be perfect for a home office, playroom, or even a non-conforming third bedroom. This move-in-ready home is waiting for its next owner. Schedule your showing today!

5. 2026-04-29
   price $179,900 1168-char remark

   Show marketing remark (1168 chars)

   Remodeled and ready for its next owner! This 2-bedroom, 2-bath ranch-style home offers fresh updates and inviting curb appeal. Situated on a spacious lot with mature trees, this home showcases an updated front porch, fresh wooden shutters, and a large back patio/carport providing plenty of room to enjoy the outdoors. Located within the Leeton city limits, the home is conveniently situated approximately 20 minutes from Whiteman Air Force Base, Warrensburg, and Clinton MO. As you step inside you will notice freshly painted walls and beautiful hardwood floors throughout the living room. Large windows allow plenty of natural light to fill the space, creating a bright and welcoming feel. The open-concept kitchen and dining area provide plenty of room to gather and entertain. The primary bedroom features hardwood floors and a large walk-in closet. The primary bathroom includes a newly installed tub/shower combo. An additional bonus room offers flexible space with endless possibilities that could be perfect for a home office, playroom, or even a non-conforming third bedroom. This move-in-ready home is waiting for its next owner. Schedule your showing today!

6. 2026-04-29
   price $179,900 1168-char remark

   Show marketing remark (1168 chars)

   Remodeled and ready for its next owner! This 2-bedroom, 2-bath ranch-style home offers fresh updates and inviting curb appeal. Situated on a spacious lot with mature trees, this home showcases an updated front porch, fresh wooden shutters, and a large back patio/carport providing plenty of room to enjoy the outdoors. Located within the Leeton city limits, the home is conveniently situated approximately 20 minutes from Whiteman Air Force Base, Warrensburg, and Clinton MO. As you step inside you will notice freshly painted walls and beautiful hardwood floors throughout the living room. Large windows allow plenty of natural light to fill the space, creating a bright and welcoming feel. The open-concept kitchen and dining area provide plenty of room to gather and entertain. The primary bedroom features hardwood floors and a large walk-in closet. The primary bathroom includes a newly installed tub/shower combo. An additional bonus room offers flexible space with endless possibilities that could be perfect for a home office, playroom, or even a non-conforming third bedroom. This move-in-ready home is waiting for its next owner. Schedule your showing today!

7. 2026-04-10
   price $184,900 1168-char remark

   Show marketing remark (1168 chars)

   Remodeled and ready for its next owner! This 2-bedroom, 2-bath ranch-style home offers fresh updates and inviting curb appeal. Situated on a spacious lot with mature trees, this home showcases an updated front porch, fresh wooden shutters, and a large back patio/carport providing plenty of room to enjoy the outdoors. Located within the Leeton city limits, the home is conveniently situated approximately 20 minutes from Whiteman Air Force Base, Warrensburg, and Clinton MO. As you step inside you will notice freshly painted walls and beautiful hardwood floors throughout the living room. Large windows allow plenty of natural light to fill the space, creating a bright and welcoming feel. The open-concept kitchen and dining area provide plenty of room to gather and entertain. The primary bedroom features hardwood floors and a large walk-in closet. The primary bathroom includes a newly installed tub/shower combo. An additional bonus room offers flexible space with endless possibilities that could be perfect for a home office, playroom, or even a non-conforming third bedroom. This move-in-ready home is waiting for its next owner. Schedule your showing today!

8. 2026-04-10
   price $184,900 1168-char remark

   Show marketing remark (1168 chars)

   Remodeled and ready for its next owner! This 2-bedroom, 2-bath ranch-style home offers fresh updates and inviting curb appeal. Situated on a spacious lot with mature trees, this home showcases an updated front porch, fresh wooden shutters, and a large back patio/carport providing plenty of room to enjoy the outdoors. Located within the Leeton city limits, the home is conveniently situated approximately 20 minutes from Whiteman Air Force Base, Warrensburg, and Clinton MO. As you step inside you will notice freshly painted walls and beautiful hardwood floors throughout the living room. Large windows allow plenty of natural light to fill the space, creating a bright and welcoming feel. The open-concept kitchen and dining area provide plenty of room to gather and entertain. The primary bedroom features hardwood floors and a large walk-in closet. The primary bathroom includes a newly installed tub/shower combo. An additional bonus room offers flexible space with endless possibilities that could be perfect for a home office, playroom, or even a non-conforming third bedroom. This move-in-ready home is waiting for its next owner. Schedule your showing today!

9. 2026-03-17
   listed $189,000 Active 1168-char remark

   Show marketing remark (1168 chars)

   Remodeled and ready for its next owner! This 2-bedroom, 2-bath ranch-style home offers fresh updates and inviting curb appeal. Situated on a spacious lot with mature trees, this home showcases an updated front porch, fresh wooden shutters, and a large back patio/carport providing plenty of room to enjoy the outdoors. Located within the Leeton city limits, the home is conveniently situated approximately 20 minutes from Whiteman Air Force Base, Warrensburg, and Clinton MO. As you step inside you will notice freshly painted walls and beautiful hardwood floors throughout the living room. Large windows allow plenty of natural light to fill the space, creating a bright and welcoming feel. The open-concept kitchen and dining area provide plenty of room to gather and entertain. The primary bedroom features hardwood floors and a large walk-in closet. The primary bathroom includes a newly installed tub/shower combo. An additional bonus room offers flexible space with endless possibilities that could be perfect for a home office, playroom, or even a non-conforming third bedroom. This move-in-ready home is waiting for its next owner. Schedule your showing today!

10. 2026-03-17
    listed $189,000 Active 1168-char remark

    Show marketing remark (1168 chars)

    Remodeled and ready for its next owner! This 2-bedroom, 2-bath ranch-style home offers fresh updates and inviting curb appeal. Situated on a spacious lot with mature trees, this home showcases an updated front porch, fresh wooden shutters, and a large back patio/carport providing plenty of room to enjoy the outdoors. Located within the Leeton city limits, the home is conveniently situated approximately 20 minutes from Whiteman Air Force Base, Warrensburg, and Clinton MO. As you step inside you will notice freshly painted walls and beautiful hardwood floors throughout the living room. Large windows allow plenty of natural light to fill the space, creating a bright and welcoming feel. The open-concept kitchen and dining area provide plenty of room to gather and entertain. The primary bedroom features hardwood floors and a large walk-in closet. The primary bathroom includes a newly installed tub/shower combo. An additional bonus room offers flexible space with endless possibilities that could be perfect for a home office, playroom, or even a non-conforming third bedroom. This move-in-ready home is waiting for its next owner. Schedule your showing today!

11. 2019-01-23
    soldstatus Sold
12. 2019-01-07
    status Pending
13. 2018-12-18
    price $19,000
14. 2018-11-05
    listed $24,000 Active
15. 2018-10-01
    historical
16. 2017-09-15
    listed $25,000 Active
17. 2005-08-09
    soldstatus
18. 2005-08-09
    soldstatus
19. 2005-08-01
    soldstatus
20. 2005-05-09
    listed $53,900
21. 2005-05-09
    listed $53,900
22. 2003-04-01
    soldstatus
23. 2000-04-01
    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: $758 · $63/mo
• Projected year-2 tax: $1,648 · $137/mo
• Expected delta: +$890/yr (+$74/mo · 117.3%)

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $12,697
• − Mortgage interest: −$9,517
• − Property taxes: −$758
• − Insurance: −$850
• − Repairs & maintenance: −$1,016
• − Management: −$1,016
• − Depreciation: −$4,943
• Taxable loss: −$5,402
• Est. tax savings @ 24.0%: +$1,296
• After-tax cash flow: $-972/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: Leeton R-X
• NCES district ID: 2918360
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 55% ▼ -5.00%
• Median HH income: $46,506
• Composite: 48.41/100
• National rank: #4662
• State rank: #67 of 535 in MO

Livability — Leeton

• Score: 58/100
• State rank: #587
• US rank: #20850

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leeton, MO
• Population (ZIP): 1,555

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 55,794 people
• By 2030: 56,861 · +1.9%
• By 2040: 58,239 · +4.4%
• By 2050: 59,168 · +6.0%
• By 2075: 62,222 · +11.5%
• By 2100: 60,118 · +7.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 1%
• Common ancestry: Serbian 7% Romanian 2% Lithuanian 2%
• Foreign-born: 0%

Political lean MEDSL · Johnson

• 2024 margin: Solid R (+39.6) · D 29.5% · R 69.1% · Other 1.4%
• 2008→2024 swing: -27.3pp toward R · 2008: -12.2pp · 2024: -39.6pp
• All cycles: 2024: R+39.6 2020: R+36.8 2016: R+36.9 2012: R+24.2 2008: R+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.31%
• Current HPI: 220.482
• 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

+215.2% since first listed

23 events — show timeline

• 2026-05-15 Pending — WCAR
• 2026-05-15 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-05-10 Price Changed $169,900 WCAR
• 2026-05-10 Price Changed $169,900 Heartland MLS as Distributed by MLS Grid
• 2026-04-29 Price Changed $179,900 WCAR
• 2026-04-29 Price Changed $179,900 Heartland MLS as Distributed by MLS Grid
• 2026-04-10 Price Changed $184,900 WCAR
• 2026-04-10 Price Changed $184,900 Heartland MLS as Distributed by MLS Grid
• 2026-03-17 Listed $189,000 WCAR
• 2026-03-17 Listed $189,000 Heartland MLS as Distributed by MLS Grid
• 2019-01-23 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2019-01-07 Pending — Heartland MLS as Distributed by MLS Grid
• 2018-12-18 Price Changed $19,000 Heartland MLS as Distributed by MLS Grid
• 2018-11-05 Listed $24,000 Heartland MLS as Distributed by MLS Grid
• 2018-10-01 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2017-09-15 Listed $25,000 Heartland MLS as Distributed by MLS Grid
• 2005-08-09 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2005-08-09 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2005-08-01 Sold (Public Records) — Public Records
• 2005-05-09 Listed $53,900 Heartland MLS as Distributed by MLS Grid
• 2005-05-09 Listed $53,900 Heartland MLS as Distributed by MLS Grid
• 2003-04-01 Sold (Public Records) — Public Records
• 2000-04-01 Sold (Public Records) — Public Records

Property tax history

+1.2%/yr

Latest (2025): $758 · +7.4% YoY. Source: county tax records.