408 Walnut St · West Plains, MO 65775

$59,900

2 bd · 1.0 ba · 1,076 sqft · Other public records · 30 Days on market

Built 1920 7,405 sqft lot

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Why this score? — see what drove the C 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 +24.7/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• Livability +3.9/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special! Cute 2 bedroom, 1 bath home with an attached carriage house offering endless possibilities. The carriage house provides two additional rooms that could easily be converted into a charming guest house, office space, or studio. The main home features original hardwood flooring and a brand new roof. Conveniently located within walking distance to the historic Downtown West Plains Square and the West Plains Civic Center.

Key facts

• New roof
• 7,405 sq ft lot
• Garage

Tags

• ATTACHED CARRIAGE HOUSE
• ORIGINAL HARDWOOD FLOORING
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $60k.

Deal economics

• At list price, monthly cash flow is $125 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($625 rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.1% in West Plains — 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 77/100 on livability (#34 in MO, #2,977 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime C-, commute C-, amenities D.
• West Plains R-VII (rural): math 36% / reading 46% proficiency, ranked #152 of 324 in MO (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Plains Elem. (math 41% / reading 40%, grade F, #525 of 1,115 statewide, top 47%, 766 students, 66% FRL); West Plains Middle (math 33% / reading 39%, grade F, #237 of 391 statewide, top 61%, 611 students, 58% FRL); West Plains Sr. High (math 27% / reading 65%, grade D-, #170 of 521 statewide, top 33%, 1,162 students, 42% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: 320 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 53 units permitted in Howell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Howell County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,001 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.04% ✓
• Cap rate: 8.80%
• Cash-on-cash: 8.96%
• DSCR: 1.40
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.8%
• Equity multiple: 0.90×
• Total profit: $-1,747
• Equity at exit: $8,931

10-year hold

• IRR: 6.9%
• Equity multiple: 1.52×
• Total profit: $8,677
• Equity at exit: $5,179

Cash invested: $16,772 (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 65775

• Home prices YoY: -16.4%
• Active inventory: 320
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $625 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$29 /mo · $353/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$131
• Net cashflow: $125

Break-even live

Break-even rent $466

Max offer price $59,900

Occupancy floor 75%

Sensitivity live

Price	-10% $159	-5% $142	+0% $125	+5% $108	+10% $91
Rent	-10% $76	-5% $101	+0% $125	+5% $150	+10% $175
Rate	-1.0pp $155	-0.5pp $141	base $125	+0.5pp $110	+1.0pp $94

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
W Main St West Plains, MO	2.0	1.5	960	$625	$0.65	46d	1	0.58mi

Listing history 17 events

1. 2026-06-21
   days on market $59,900 Active 30 DOM
2. 2026-06-21
   days on market $59,900 Active 29 DOM
3. 2026-06-18
   days on market $59,900 Active 27 DOM
4. 2026-06-17
   days on market $59,900 Active 26 DOM
5. 2026-06-16
   days on market $59,900 Active 25 DOM
6. 2026-06-15
   days on market $59,900 Active 24 DOM
7. 2026-06-13
   days on market $59,900 Active 22 DOM
8. 2026-06-12
   days on market $59,900 Active 21 DOM
9. 2026-06-09
   days on market $59,900 Active 18 DOM
10. 2026-06-08
    days on market $59,900 Active 17 DOM
11. 2026-06-07
    days on market $59,900 Active 16 DOM
12. 2026-06-07
    days on market $59,900 Active 15 DOM
13. 2026-06-04
    days on market $59,900 Active 12 DOM
14. 2026-06-03
    status $59,900 Active 11 DOM
15. 2026-03-24
    status Pending
16. 2026-03-13
    listed $59,900 Active
17. 2004-03-08
    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: $353 · $29/mo
• Projected year-2 tax: $581 · $48/mo
• Expected delta: +$228/yr (+$19/mo · 64.7%)

ⓘ 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 5/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $7,500
• − Mortgage interest: −$3,355
• − Property taxes: −$353
• − Insurance: −$300
• − Repairs & maintenance: −$600
• − Management: −$600
• − Depreciation: −$1,743
• Taxable income: $550
• Est. tax owed @ 24.0%: −$132
• After-tax cash flow: $1,371/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: West Plains R-VII
• NCES district ID: 2931680
• Math proficiency: 36% ▼ -5.00%
• Reading proficiency: 46% ▲ 1.00%
• Median HH income: $32,206
• Composite: 33.59/100
• National rank: #5419
• State rank: #152 of 324 in MO

Livability — West Plains

• Score: 77/100
• State rank: #34
• US rank: #2977

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Plains, MO
• Population (ZIP): 24,950

Population outlook (Howell County) Hauer SSP2

• Today (2025): 38,462 people
• By 2030: 37,240 · -3.2%
• By 2040: 34,495 · -10.3%
• By 2050: 31,450 · -18.2%
• By 2075: 23,660 · -38.5%
• By 2100: 16,373 · -57.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Portuguese 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Howell

• 2024 margin: Solid R (+66.8) · D 16.2% · R 83.0%
• 2008→2024 swing: -36.0pp toward R · 2008: -30.8pp · 2024: -66.8pp
• All cycles: 2024: R+66.8 2020: R+64.2 2016: R+63.2 2012: R+43.8 2008: R+30.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.99%
• Current HPI: 228.8763
• 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

3 events — show timeline

• 2026-03-24 Pending — SOMO
• 2026-03-13 Listed $59,900 SOMO
• 2004-03-08 Sold (Public Records) — Public Records

Property tax history

+2.2%/yr

Latest (2025): $353 · +9.6% YoY. Source: county tax records.