317 Main St · Steele, MO 63877

$49,500

2 bd · 1.0 ba · 1,332 sqft · SingleFamily · 116 Days on market

Built 1940 Fair condition 9,997 sqft lot $37/sqft · 62% below area ↓ 13% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +4.2/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.7/10.0

Listing remarks MLS

A cozy home on a corner lot! 2 Bedrooms, 1 bathroom, a nice sized living room, kitchen, and a spacious laundry/utility room for extra storage. Would make a great investment property, first time home, or place to downsize. Lot size 50X200 Sold as is. Cash or Conventional Loan.

Key facts

• 9,997 sq ft lot
• Parking
• Built 1940

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $509 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $45k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#642 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: health & safety C-, crime F, amenities F.
• South Pemiscot County R-V (rural): math 10% / reading 31% proficiency, ranked #305 of 324 in MO (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Central Elementary (math 12% / reading 22%, grade F, #967 of 1,115 statewide, top 88%, 261 students, 100% FRL); South Pemiscot High (math 2% / reading 42%, grade F, #459 of 521 statewide, top 88%, 245 students, 100% FRL) — zoned schools average 100% FRL vs 68% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 8 active listings in the ZIP; 17 units permitted in Pemiscot County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.6%/yr); year-one equity from $342 of loan paydown is wiped out by about $794 of value loss. Plan a longer hold.
• Pemiscot County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-1.6% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $45,045 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 2.18% ✓
• Cap rate: 18.62%
• Cash-on-cash: 44.03%
• DSCR: 2.96
• GRM: 3.8

CMA / ARV

• ARV (median comp): $129,476
• List price: $49,500
• Delta: -61.77%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
316 Bellvue St	0.26mi	2/1.0	1,184 (-11%)	8mo	$25,000	$21	62

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

Projected returns pro-forma

-1.6% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 43.0%
• Equity multiple: 2.97×
• Total profit: $27,342
• Equity at exit: $10,528

10-year hold

• IRR: 47.6%
• Equity multiple: 5.93×
• Total profit: $68,273
• Equity at exit: $9,885

Cash invested: $13,860 (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 63877

• Home prices YoY: -1.4%
• Active inventory: 8
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,077 medium
• Mortgage (P&I): −$260
• Tax est. 1.5%: −$62 /mo · $742/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $509

Break-even live

Break-even rent $433

Max offer price $49,500

Occupancy floor 48%

Sensitivity live

Price	-10% $543	-5% $526	+0% $509	+5% $491	+10% $474
Rent	-10% $423	-5% $466	+0% $509	+5% $551	+10% $594
Rate	-1.0pp $533	-0.5pp $521	base $509	+0.5pp $496	+1.0pp $483

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: $12,375
• Closing costs: $1,485
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $49,500 Active 116 DOM
2. 2026-06-21
   days on market $49,500 Active 115 DOM
3. 2026-06-18
   days on market $49,500 Active 113 DOM
4. 2026-06-17
   days on market $49,500 Active 112 DOM
5. 2026-06-16
   days on market $49,500 Active 111 DOM
6. 2026-06-15
   days on market $49,500 Active 110 DOM
7. 2026-06-13
   days on market $49,500 Active 108 DOM
8. 2026-06-12
   days on market $49,500 Active 107 DOM
9. 2026-06-09
   days on market $49,500 Active 104 DOM
10. 2026-06-08
    days on market $49,500 Active 103 DOM
11. 2026-06-07
    days on market $49,500 Active 102 DOM
12. 2026-06-07
    days on market $49,500 Active 101 DOM
13. 2026-06-04
    days on market $49,500 Active 98 DOM
14. 2026-06-02
    days on market $49,500 Active 97 DOM
15. 2026-06-01
    days on market $49,500 Active 96 DOM
16. 2026-05-31
    days on market $49,500 Active 95 DOM
17. 2026-02-25
    listed $49,500 Active 276-char remark

    Show marketing remark (276 chars)

    A cozy home on a corner lot! 2 Bedrooms, 1 bathroom, a nice sized living room, kitchen, and a spacious laundry/utility room for extra storage. Would make a great investment property, first time home, or place to downsize. Lot size 50X200 Sold as is. Cash or Conventional Loan.

18. 2025-10-28
    status Active
19. 2025-10-20
    historical Active Under Contract
20. 2025-09-18
    price $52,000
21. 2025-07-11
    listed $57,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% 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: $12,921
• − Mortgage interest: −$2,773
• − Property taxes: −$742
• − Insurance: −$248
• − Repairs & maintenance: −$1,034
• − Management: −$1,034
• − Depreciation: −$1,440
• Taxable income: $5,651
• Est. tax owed @ 24.0%: −$1,356
• After-tax cash flow: $4,746/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

Fair 45/100 Moderate rehab

This home requires moderate renovations to improve its condition and increase its value. Repairs to the roof, exterior siding, and HVAC system are necessary, along with painting and landscaping improvements.

Repairs flagged

• Major roof — existing shingles show wear
• Major exterior siding — existing siding shows wear
• Major HVAC/mechanicals — existing heating and cooling system appears old

Value-add opportunities

• Both paint exterior and interior — fresh paint enhances curb appeal and interior aesthetics
• Both replace HVAC system — new system improves comfort and energy efficiency
• Both repair and replace roof — new roof ensures durability and energy efficiency
• Both repair and replace exterior siding — new siding enhances curb appeal and durability

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · existing shingles show wear	Major	$15,000–50,000
exterior siding · existing siding shows wear	Major	$15,000–50,000
HVAC/mechanicals · existing heating and cooling system appears old	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both paint exterior and interior — fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace HVAC system — new system improves comfort and energy efficiency ↑
• Both repair and replace roof — new roof ensures durability and energy efficiency ↑
• Both repair and replace exterior siding — new siding enhances curb appeal and durability ↑

ⓘ 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: South Pemiscot County R-V
• NCES district ID: 2928530
• Math proficiency: 10% ▼ -11.00%
• Reading proficiency: 31% ▼ -4.00%
• Median HH income: $35,294
• Composite: 16.84/100
• National rank: #9150
• State rank: #305 of 324 in MO

Livability — Steele

• Score: 57/100
• State rank: #642
• US rank: #21740

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: Steele, MO
• Population (ZIP): 3,059

Population outlook (Pemiscot County) Hauer SSP2

• Today (2025): 15,803 people
• By 2030: 14,934 · -5.5%
• By 2040: 13,246 · -16.2%
• By 2050: 11,669 · -26.2%
• By 2075: 8,426 · -46.7%
• By 2100: 6,057 · -61.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 10% Black 7% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Italian 1% Scottish 1%
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Pemiscot

• 2024 margin: Solid R (+49.1) · D 25.3% · R 74.3%
• 2008→2024 swing: -35.9pp toward R · 2008: -13.1pp · 2024: -49.1pp
• All cycles: 2024: R+49.1 2020: R+44.6 2016: R+33.5 2012: R+14.6 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.60%
• Current HPI: 114.253
• 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

-13.2% since first listed

5 events — show timeline

• 2026-02-25 Listed $49,500 MARIS as Distributed by MLS Grid
• 2025-10-28 Relisted — MARIS as Distributed by MLS Grid
• 2025-10-20 Contingent — MARIS as Distributed by MLS Grid
• 2025-09-18 Price Changed $52,000 MARIS as Distributed by MLS Grid
• 2025-07-11 Listed $57,000 MARIS as Distributed by MLS Grid