118 E Main St Unit 116 A B C · Willow Springs, MO 65793

$199,900

6 bd · 4.0 ba · 4,905 sqft · MultiFamily · 75 Days on market

Built 1915 Good condition 2,614 sqft lot $41/sqft · 25% below area Est $267k · 25% under ↓ 20% since listing

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Why this score? — see what drove the B+ 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
• Condition / age +3.8/5.0
• Schools +3.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Appreciation +0.7/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Commercial building with 4905 square feet of rental space is divided into 4 separate rental units, totaling $2,050 in monthly rent. Main floor is 2,725 sq ft that can be a business or a residential unit, currently leased as 2BD/1BA residential with 25x51 great room has central HVAC (Gas), refrigerator, other appliances pictured belong to tenant. Laminate flooring and fresh paint throughout. Large storage/mechanical room with back-alley access. Upstairs there are 3 apartments with a total of 2180 sq ft of living space: Apt A is Studio plus loft with custom cabinetry, island and includes stainless steel refrigerator, dishwasher, oven range couch, loft mattress and walk-in shower. Apt B has 2 bedrooms with full tub/shower, large living area includes couch and galley kitchen includes electric range and refrigerator. Apt C spacious living room with 1 bedroom and a full bath. Eat in kitchen includes electric range and refrigerator. Upstairs apartments have electric water heaters and Mini Split units for HVAC. Apartment stairways have door lock codes for tenant privacy with access to front street and back alley with additional public parking lot. Separate electric meters for each rental, 1 water meter for the building with individual shut offs.

Key facts

• Custom cabinetry
• Large storage room
• Great room

Tags

• SEPARATE RENTAL UNITS
• GREAT ROOM
• LARGE STORAGE ROOM
• BACK-ALLEY ACCESS
• CUSTOM CABINETRY
• ISLAND

🏷️ Possibly a rental listed for sale. The $199,900 price doesn't fit this home's estimated sale value (~$267,399) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 6-bed/4.0-bath multifamily listed at $200k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $200k).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.2% vs local median 3.7% in Willow Springs — 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 62/100 on livability (#386 in MO) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: schools F, amenities F, commute F.
• Willow Springs R-IV (rural): math 34% / reading 50% proficiency, ranked #140 of 324 in MO (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 82 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 3 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 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.91% ✓
• Cap rate: 16.15%
• Cash-on-cash: 35.22%
• DSCR: 2.57
• GRM: 4.4

CMA / ARV

• ARV (median comp): $267,399
• List price: $199,900
• Delta: -25.24%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 E Main St Unit 116 A B C	0.00mi	6/4.0	4,905 (0%)	1mo	$199,900	$41	99

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

Projected returns pro-forma

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

5-year hold

• IRR: 30.8%
• Equity multiple: 2.29×
• Total profit: $72,287
• Equity at exit: $29,806

10-year hold

• IRR: 38.0%
• Equity multiple: 4.54×
• Total profit: $197,898
• Equity at exit: $17,284

Cash invested: $55,972 (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 65793

• Home prices YoY: -3.8%
• Active inventory: 82
• Price-to-rent: 17.8×

Monthly cashflow live

• Estimated rent: $3,828 medium
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$804
• Net cashflow: $1,643

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 52%

Sensitivity live

Price	-10% $1,781	-5% $1,712	+0% $1,643	+5% $1,574	+10% $1,505
Rent	-10% $1,340	-5% $1,491	+0% $1,643	+5% $1,794	+10% $1,945
Rate	-1.0pp $1,743	-0.5pp $1,693	base $1,643	+0.5pp $1,591	+1.0pp $1,538

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$2,802
1× unit	2	1	$1,026
Total (4 units)			$3,828

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-18
   status Pending 1257-char remark

   Show marketing remark (1257 chars)

   Commercial building with 4905 square feet of rental space is divided into 4 separate rental units, totaling $2,050 in monthly rent. Main floor is 2,725 sq ft that can be a business or a residential unit, currently leased as 2BD/1BA residential with 25x51 great room has central HVAC (Gas), refrigerator, other appliances pictured belong to tenant. Laminate flooring and fresh paint throughout. Large storage/mechanical room with back-alley access. Upstairs there are 3 apartments with a total of 2180 sq ft of living space: Apt A is Studio plus loft with custom cabinetry, island and includes stainless steel refrigerator, dishwasher, oven range couch, loft mattress and walk-in shower. Apt B has 2 bedrooms with full tub/shower, large living area includes couch and galley kitchen includes electric range and refrigerator. Apt C spacious living room with 1 bedroom and a full bath. Eat in kitchen includes electric range and refrigerator. Upstairs apartments have electric water heaters and Mini Split units for HVAC. Apartment stairways have door lock codes for tenant privacy with access to front street and back alley with additional public parking lot. Separate electric meters for each rental, 1 water meter for the building with individual shut offs.

2. 2026-03-04
   listed $199,900 Active 1257-char remark

   Show marketing remark (1257 chars)

   Commercial building with 4905 square feet of rental space is divided into 4 separate rental units, totaling $2,050 in monthly rent. Main floor is 2,725 sq ft that can be a business or a residential unit, currently leased as 2BD/1BA residential with 25x51 great room has central HVAC (Gas), refrigerator, other appliances pictured belong to tenant. Laminate flooring and fresh paint throughout. Large storage/mechanical room with back-alley access. Upstairs there are 3 apartments with a total of 2180 sq ft of living space: Apt A is Studio plus loft with custom cabinetry, island and includes stainless steel refrigerator, dishwasher, oven range couch, loft mattress and walk-in shower. Apt B has 2 bedrooms with full tub/shower, large living area includes couch and galley kitchen includes electric range and refrigerator. Apt C spacious living room with 1 bedroom and a full bath. Eat in kitchen includes electric range and refrigerator. Upstairs apartments have electric water heaters and Mini Split units for HVAC. Apartment stairways have door lock codes for tenant privacy with access to front street and back alley with additional public parking lot. Separate electric meters for each rental, 1 water meter for the building with individual shut offs.

3. 2024-09-20
   historical
4. 2024-07-10
   status Active
5. 2024-07-02
   historical
6. 2024-02-05
   price $224,500
7. 2024-01-25
   listed $249,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $45,936
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,675
• − Management: −$3,675
• − Depreciation: −$5,815
• Taxable income: $17,575
• Est. tax owed @ 24.0%: −$4,218
• After-tax cash flow: $15,494/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 · 12 photos

Good 75/100 Cosmetic rehab

This multi-family property is in good condition with minimal repairs needed. It offers a good investment opportunity with potential for value enhancement through painting, appliance replacement, and landscaping improvements.

Repairs flagged

• Minor Appliances — Some appliances show signs of wear and tear.
• Minor Landscaping — Could benefit from some updates to enhance curb appeal.

Value-add opportunities

• Both Painting — Fresh paint can improve the home's appearance and value.
• Both Appliance replacement — Modern appliances can attract more tenants and buyers.
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Appliances · Some appliances show signs of wear and tear.	Minor	$500–3,000
Landscaping · Could benefit from some updates to enhance curb appeal.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Painting — Fresh paint can improve the home's appearance and value. ↑
• Both Appliance replacement — Modern appliances can attract more tenants and buyers. ↑
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value. ↑

ⓘ 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: Willow Springs R-IV
• NCES district ID: 2932070
• Math proficiency: 34% ▲ 2.00%
• Reading proficiency: 50% ▲ 2.00%
• Median HH income: $32,334
• Composite: 34.4/100
• National rank: #5207
• State rank: #140 of 324 in MO

Livability — Willow Springs

• Score: 62/100
• State rank: #386
• US rank: #16837

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Willow Springs, MO
• City population: 5,679
• Population (ZIP): 5,679

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 (89%)
• Race & ethnicity: White 89% Two or more races 8% Hispanic / Latino 4%
• Common ancestry: Romanian 2% Serbian 2% Slovak 1%
• Foreign-born: 2%
• Languages at home: 97% English-only · French/Haitian/Cajun 1% Spanish 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: ▼ -8.63%
• Current HPI: 220.7596
• 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

7 events — show timeline

• 2026-05-18 Pending — SOMO
• 2026-03-04 Listed $199,900 SOMO
• 2024-09-20 Delisted — SOMO
• 2024-07-10 Relisted — SOMO
• 2024-07-02 Delisted — SOMO
• 2024-02-05 Price Changed $224,500 SOMO
• 2024-01-25 Listed $249,900 SOMO