105 W Spruce St · Shelbina, MO 63468

$195,900

4 bd · 2.0 ba · 2,818 sqft · Other public records · 39 Days on market

Built 1910 0.27 ac lot $70/sqft · at area comps Est $191k · at est.

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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
• ARV discount +6.4/15.0
• Livability +3.4/5.0
• DSCR +3.3/10.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0

Listing remarks MLS

Located in the heart of Shelbina, this charming home at 105 W Spruce offers comfort, character, and small-town living at its best. Step inside to discover a warm, inviting layout with spacious living areas, abundant natural light, and plenty of room to make it your own. The kitchen provides functional workspace and storage, while the bedrooms offer cozy retreats for family or guests. Outside, enjoy a generously sized yard perfect for relaxing evenings, entertaining, gardening, or play. Conveniently situated near local amenities, schools, and parks, this property combines everyday convenience with peaceful surroundings.

Key facts

• Local amenities
• Parks
• Schools

Tags

• GENEROUSLY SIZED YARD
• LOCAL AMENITIES
• SCHOOLS
• PARKS

Property features AI

Exterior

• Parking: Detached 2-car garage; Paved parking
• Utilities: Public water
• Home design: Single Family Residence; Residential property; Faces east
• Construction: Basement present
• Exterior features: Covered patio/porch; Deck; Front porch; Paved road access

Interior

• Kitchen: Refrigerator, Microwave, Electric Range, Dishwasher
• Flooring: Wood flooring; Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Electric heating
• Interior features: Refrigerator, Microwave, Electric Range, Dishwasher; Sump pump in basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $196k.

Deal economics

• At list price, monthly cash flow is $-72 ($-861/yr) — negative.
• To cash-flow at today's rent, offer at most $183k (6.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (27.4% below list).
• Recommended offer: $142k (27.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#188 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: employment D, amenities F, commute F.
• Shelby County R-IV (rural): math 29% / reading 42% proficiency, ranked #224 of 324 in MO (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: South Shelby Elementary (math 37% / reading 47%, grade F, #481 of 1,115 statewide, top 46%, 294 students, 56% FRL); South Shelby Middle School (math 32% / reading 37%, grade F, #243 of 391 statewide, top 65%, 151 students, 54% FRL); South Shelby High (math 12% / reading 42%, grade F, #420 of 521 statewide, top 82%, 248 students, 48% FRL).
• Market conditions: 13 active listings in the ZIP; 4 units permitted in Shelby County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($1k loan paydown + $13k appreciation (6.4% local appreciation)).
• Shelby County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.4% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, 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 39 days — a 3% lower offer ($190k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $142,208 (27.4% 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 39 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1910 — 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. 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: 0.73% ✗
• Cap rate: 5.85%
• Cash-on-cash: -1.57%
• DSCR: 0.93
• GRM: 11.5

CMA / ARV

• ARV (median comp): $191,263
• List price: $195,900
• Delta: 2.42%
• Verdict: FAIR
• Comps: 14 within 1.0 mi

Projected returns pro-forma

6.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.1%
• Equity multiple: 2.04×
• Total profit: $56,863
• Equity at exit: $128,417

10-year hold

• IRR: 15.1%
• Equity multiple: 4.09×
• Total profit: $169,503
• Equity at exit: $237,564

Cash invested: $54,852 (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 63468

• Home prices YoY: 3.0%
• Active inventory: 13
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,422 medium
• Mortgage (P&I): −$1,027
• Tax from tax record: −$86 /mo · $1,035/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $-72

Break-even live

Break-even rent $1,513

Max offer price $183,218

Occupancy floor —

Sensitivity live

Price	-10% $39	-5% $-16	+0% $-72	+5% $-127	+10% $-183
Rent	-10% $-184	-5% $-128	+0% $-72	+5% $-16	+10% $41
Rate	-1.0pp $27	-0.5pp $-22	base $-72	+0.5pp $-123	+1.0pp $-174

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: $48,975
• Closing costs: $5,877
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $195,900 Active 39 DOM
2. 2026-06-21
   days on market $195,900 Active 38 DOM
3. 2026-06-18
   days on market $195,900 Active 36 DOM
4. 2026-06-17
   pricedays on market $195,900 Active 35 DOM
5. 2026-06-16
   days on market $199,000 Active 34 DOM
6. 2026-06-15
   days on market $199,000 Active 33 DOM
7. 2026-06-13
   days on market $199,000 Active 31 DOM

   Show marketing remark (626 chars)

   Located in the heart of Shelbina, this charming home at 105 W Spruce offers comfort, character, and small-town living at its best. Step inside to discover a warm, inviting layout with spacious living areas, abundant natural light, and plenty of room to make it your own. The kitchen provides functional workspace and storage, while the bedrooms offer cozy retreats for family or guests. Outside, enjoy a generously sized yard perfect for relaxing evenings, entertaining, gardening, or play. Conveniently situated near local amenities, schools, and parks, this property combines everyday convenience with peaceful surroundings.

8. 2026-06-12
   days on market $199,000 Active 30 DOM
9. 2026-06-09
   days on market $199,000 Active 27 DOM
10. 2026-06-08
    days on market $199,000 Active 26 DOM
11. 2026-06-07
    days on market $199,000 Active 25 DOM
12. 2026-06-05
    days on market $199,000 Active 23 DOM
13. 2026-06-04
    days on market $199,000 Active 21 DOM
14. 2026-06-02
    days on market $199,000 Active 20 DOM
15. 2026-06-01
    days on market $199,000 Active 19 DOM
16. 2026-05-31
    days on market $199,000 Active 18 DOM
17. 2026-05-14
    listed $199,000 Active 626-char remark

    Show marketing remark (626 chars)

    Located in the heart of Shelbina, this charming home at 105 W Spruce offers comfort, character, and small-town living at its best. Step inside to discover a warm, inviting layout with spacious living areas, abundant natural light, and plenty of room to make it your own. The kitchen provides functional workspace and storage, while the bedrooms offer cozy retreats for family or guests. Outside, enjoy a generously sized yard perfect for relaxing evenings, entertaining, gardening, or play. Conveniently situated near local amenities, schools, and parks, this property combines everyday convenience with peaceful surroundings.

18. 2026-05-14
    listed $199,900 Active 626-char remark

    Show marketing remark (626 chars)

    Located in the heart of Shelbina, this charming home at 105 W Spruce offers comfort, character, and small-town living at its best. Step inside to discover a warm, inviting layout with spacious living areas, abundant natural light, and plenty of room to make it your own. The kitchen provides functional workspace and storage, while the bedrooms offer cozy retreats for family or guests. Outside, enjoy a generously sized yard perfect for relaxing evenings, entertaining, gardening, or play. Conveniently situated near local amenities, schools, and parks, this property combines everyday convenience with peaceful surroundings.

19. 2022-06-16
    soldstatus Closed

    Show marketing remark (229 chars)

    1910 built home with spacious rooms, built in bookcases, beautiful woodwork and ready for new owners. Four large bedrooms and two baths, and over 2,300 sq ft living space. Detached garage on 65 x 180 foot lot. See it. LOVE it.

20. 2022-06-16
    soldstatus

    Show marketing remark (229 chars)

    1910 built home with spacious rooms, built in bookcases, beautiful woodwork and ready for new owners. Four large bedrooms and two baths, and over 2,300 sq ft living space. Detached garage on 65 x 180 foot lot. See it. LOVE it.

21. 2022-06-01
    listed $120,000 Active
22. 2021-05-28
    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: $1,035 · $86/mo
• Projected year-2 tax: $1,900 · $158/mo
• Expected delta: +$865/yr (+$72/mo · 83.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,065
• − Mortgage interest: −$10,973
• − Property taxes: −$1,035
• − Insurance: −$980
• − Repairs & maintenance: −$1,365
• − Management: −$1,365
• − Depreciation: −$5,699
• Taxable loss: −$4,353
• Est. tax savings @ 24.0%: +$1,045
• After-tax cash flow: $183/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: Shelby County R-IV
• NCES district ID: 2928110
• Math proficiency: 29% ▼ -10.00%
• Reading proficiency: 42% ▼ -3.00%
• Median HH income: $36,627
• Composite: 29.44/100
• National rank: #6517
• State rank: #224 of 324 in MO

Livability — Shelbina

• Score: 68/100
• State rank: #188
• US rank: #9918

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: Shelbina, MO
• Population (ZIP): 2,523

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 5,663 people
• By 2030: 5,352 · -5.5%
• By 2040: 4,762 · -15.9%
• By 2050: 4,200 · -25.8%
• By 2075: 3,058 · -46.0%
• By 2100: 2,166 · -61.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Slovak 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+65.6) · D 16.9% · R 82.5%
• 2008→2024 swing: -33.9pp toward R · 2008: -31.7pp · 2024: -65.6pp
• All cycles: 2024: R+65.6 2020: R+62.9 2016: R+59.0 2012: R+37.8 2008: R+31.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.42%
• Current HPI: 216.9275
• 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

+63.2% since first listed

8 events — show timeline

• 2026-06-13 Price Changed $195,900 RCBR
• 2026-06-13 Price Changed $195,900 CBORMLS
• 2026-05-14 Listed $199,000 CBORMLS
• 2026-05-14 Listed $199,900 RCBR
• 2022-06-16 Sold (MLS) — CBORMLS
• 2022-06-16 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2022-06-01 Listed $120,000 CBORMLS
• 2021-05-28 Sold (Public Records) — Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,035 · +6.8% YoY. Source: county tax records.