302 Marshall · Morehouse, MO 63801

$89,500

2 bd · 1.0 ba · 1,045 sqft · Other public records · 73 Days on market

Built 1955 8,276 sqft lot $86/sqft · 13% above area Est $79k · 13% over

---

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 +27.4/30.0
• DSCR +9.6/10.0
• 1% rule +6.4/10.0
• Schools +2.8/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.5/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this cozy 2 bed, 1 bath home on a desirable corner lot! Featuring a new heating unit, this property offers comfort and peace of mind. Whether you're a first-time buyer, looking to downsize, or searching for your next investment property, this home checks all the boxes. Affordable, manageable, and full of potential!

Key facts

• 8,276 sq ft lot
• Parking
• Built 1955

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $90k.

Deal economics

• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $84k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 55/100 on livability (#736 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Sikeston R-6 (town): math 33% / reading 34% proficiency, ranked #243 of 324 in MO (top 75%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 168 active listings in the ZIP; 11 units permitted in New Madrid County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $619 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• New Madrid County population projected at -25% 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 $25k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,130 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 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 1955 — 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. 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. 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.
8. 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.
9. 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: 1.14% ✓
• Cap rate: 9.81%
• Cash-on-cash: 12.56%
• DSCR: 1.56
• GRM: 7.3

CMA / ARV

• ARV (median comp): $79,032
• List price: $89,500
• Delta: 13.24%
• Verdict: OVERPRICED
• Comps: 14 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 2.3%
• Equity multiple: 1.09×
• Total profit: $2,171
• Equity at exit: $13,345

10-year hold

• IRR: 11.8%
• Equity multiple: 1.93×
• Total profit: $23,276
• Equity at exit: $7,738

Cash invested: $25,060 (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 63801

• Home prices YoY: -11.6%
• Active inventory: 168
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,020 medium
• Mortgage (P&I): −$469
• Tax from tax record: −$37 /mo · $441/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $262

Break-even live

Break-even rent $688

Max offer price $89,500

Occupancy floor 69%

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $89,500 Active 73 DOM
2. 2026-06-18
   days on market $89,500 Active 72 DOM
3. 2026-06-17
   days on market $89,500 Active 71 DOM
4. 2026-06-16
   days on market $89,500 Active 70 DOM
5. 2026-06-15
   days on market $89,500 Active 69 DOM
6. 2026-06-14
   days on market $89,500 Active 67 DOM
7. 2026-06-13
   days on market $89,500 Active 66 DOM
8. 2026-06-10
   days on market $89,500 Active 64 DOM
9. 2026-06-09
   days on market $89,500 Active 63 DOM
10. 2026-06-08
    days on market $89,500 Active 62 DOM
11. 2026-06-07
    days on market $89,500 Active 61 DOM
12. 2026-06-05
    days on market $89,500 Active 58 DOM
13. 2026-06-03
    days on market $89,500 Active 57 DOM
14. 2026-06-02
    days on market $89,500 Active 56 DOM
15. 2026-06-01
    days on market $89,500 Active 55 DOM
16. 2026-05-31
    days on market $89,500 Active 54 DOM
17. 2026-05-30
    days on market $89,500 Active 53 DOM
18. 2026-04-07
    listed $95,000 Active 327-char remark

    Show marketing remark (327 chars)

    Welcome to this cozy 2 bed, 1 bath home on a desirable corner lot! Featuring a new heating unit, this property offers comfort and peace of mind. Whether you're a first-time buyer, looking to downsize, or searching for your next investment property, this home checks all the boxes. Affordable, manageable, and full of potential!

19. 2024-12-08
    listed $94,900 Active
20. 2023-12-29
    historical
21. 2023-09-26
    soldstatus
22. 2023-08-05
    listed $49,900 Active

ⓘ 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: $441 · $37/mo
• Projected year-2 tax: $868 · $72/mo
• Expected delta: +$427/yr (+$36/mo · 96.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $12,238
• − Mortgage interest: −$5,013
• − Property taxes: −$441
• − Insurance: −$448
• − Repairs & maintenance: −$979
• − Management: −$979
• − Depreciation: −$2,604
• Taxable income: $1,774
• Est. tax owed @ 24.0%: −$426
• After-tax cash flow: $2,722/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: Sikeston R-6
• NCES district ID: 2928260
• Math proficiency: 33% ▼ -4.00%
• Reading proficiency: 34% ▼ -2.00%
• Median HH income: $36,800
• Composite: 27.85/100
• National rank: #6879
• State rank: #243 of 324 in MO

Livability — Morehouse

• Score: 55/100
• State rank: #736
• US rank: #23257

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morehouse, MO
• City population: 690
• Population (ZIP): 22,121

Population outlook (New Madrid County) Hauer SSP2

• Today (2025): 16,712 people
• By 2030: 15,845 · -5.2%
• By 2040: 14,152 · -15.3%
• By 2050: 12,604 · -24.6%
• By 2075: 9,478 · -43.3%
• By 2100: 7,157 · -57.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 19% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Lithuanian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · New Madrid

• 2024 margin: Solid R (+53.5) · D 22.9% · R 76.4%
• 2008→2024 swing: -38.4pp toward R · 2008: -15.1pp · 2024: -53.5pp
• All cycles: 2024: R+53.5 2020: R+51.0 2016: R+45.4 2012: R+20.3 2008: R+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.54%
• Current HPI: 141.0868
• 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

+90.4% since first listed

5 events — show timeline

• 2026-04-07 Listed $95,000 MARIS as Distributed by MLS Grid
• 2024-12-08 Listed $94,900 MARIS as Distributed by MLS Grid
• 2023-12-29 Delisted — MARIS as Distributed by MLS Grid
• 2023-09-26 Sold (Public Records) — Public Records
• 2023-08-05 Listed $49,900 MARIS as Distributed by MLS Grid

Property tax history

+7.7%/yr

Latest (2025): $441 · +63.2% YoY. Source: county tax records.