400 N 24th St · Bethany, MO 64424

$70,000

3 bd · 1.0 ba · 973 sqft · Other public records · 88 Days on market

Built 1910 7,840 sqft lot $72/sqft · 14% below area Est $98k · 29% under

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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 +25.4/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• Appreciation +8.3/10.0
• 1% rule +5.7/10.0
• Schools +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This affordable 3-bedroom, 1-bath home is conveniently located near the town square, offering easy access to local shops and amenities. The property features an attached lean-to for additional storage and provides both front and rear parking options. With its great location and potential for added value, this home presents a great opportunity to build equity.

Key facts

• Rear parking
• Attached lean-to
• Front parking

Tags

• ATTACHED LEAN-TO
• FRONT PARKING
• REAR PARKING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $70k.

Deal economics

• At list price, monthly cash flow is $161 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($750 rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#206 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: amenities F, commute F, employment F.
• South Harrison County R-II (town): math 41% / reading 42% proficiency, ranked #131 of 324 in MO (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: South Harrison Elem. (math 42% / reading 47%, grade F, #413 of 1,115 statewide, top 42%, 309 students, 60% FRL); South Harrison Middle (math 46% / reading 34%, grade F, #185 of 391 statewide, top 48%, 245 students, 58% FRL).
• Market conditions: 12 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($484 loan paydown + $5k appreciation (6.7% local appreciation)).
• Harrison County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $19k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 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 1910 — 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 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?
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: 1.07% ✓
• Cap rate: 9.06%
• Cash-on-cash: 9.88%
• DSCR: 1.44
• GRM: 7.8

CMA / ARV

• ARV (median comp): $98,454
• List price: $70,000
• Delta: -28.90%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

6.7% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.0%
• Equity multiple: 2.70×
• Total profit: $33,405
• Equity at exit: $47,133

10-year hold

• IRR: 23.1%
• Equity multiple: 5.57×
• Total profit: $89,522
• Equity at exit: $88,313

Cash invested: $19,600 (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 64424

• Home prices YoY: 3.7%
• Active inventory: 12
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $750 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$35 /mo · $419/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$158
• Net cashflow: $161

Break-even live

Break-even rent $546

Max offer price $70,000

Occupancy floor 73%

Sensitivity live

Price	-10% $201	-5% $181	+0% $161	+5% $142	+10% $122
Rent	-10% $102	-5% $132	+0% $161	+5% $191	+10% $221
Rate	-1.0pp $197	-0.5pp $179	base $161	+0.5pp $143	+1.0pp $125

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
806 Railroad St Bethany, MO	2.0	1.0	744	$750	$1.01	15d	1	1.08mi

Listing history 25 events

1. 2026-06-21
   days on market $70,000 Active 88 DOM
2. 2026-06-21
   days on market $70,000 Active 87 DOM
3. 2026-06-18
   days on market $70,000 Active 85 DOM
4. 2026-06-17
   days on market $70,000 Active 84 DOM
5. 2026-06-16
   remarks 387-char remark
6. 2026-06-16
   pricestatusdays on market $70,000 Active 83 DOM
7. 2026-06-15
   days on market $78,000 Active Under Contract 82 DOM
8. 2026-06-13
   days on market $78,000 Active Under Contract 80 DOM
9. 2026-06-12
   days on market $78,000 Active Under Contract 79 DOM
10. 2026-06-09
    days on market $78,000 Active Under Contract 76 DOM
11. 2026-06-08
    days on market $78,000 Active Under Contract 75 DOM
12. 2026-06-07
    days on market $78,000 Active Under Contract 74 DOM
13. 2026-06-07
    days on market $78,000 Active Under Contract 73 DOM
14. 2026-06-04
    days on market $78,000 Active Under Contract 70 DOM
15. 2026-06-02
    days on market $78,000 Active Under Contract 69 DOM
16. 2026-06-01
    days on market $78,000 Active Under Contract 68 DOM
17. 2026-05-31
    days on market $78,000 Active Under Contract 67 DOM
18. 2026-05-17
    historical Active Under Contract 361-char remark

    Show marketing remark (361 chars)

    This affordable 3-bedroom, 1-bath home is conveniently located near the town square, offering easy access to local shops and amenities. The property features an attached lean-to for additional storage and provides both front and rear parking options. With its great location and potential for added value, this home presents a great opportunity to build equity.

19. 2026-04-28
    price $78,000 361-char remark

    Show marketing remark (361 chars)

    This affordable 3-bedroom, 1-bath home is conveniently located near the town square, offering easy access to local shops and amenities. The property features an attached lean-to for additional storage and provides both front and rear parking options. With its great location and potential for added value, this home presents a great opportunity to build equity.

20. 2026-03-25
    listed $89,000 Active 361-char remark

    Show marketing remark (361 chars)

    This affordable 3-bedroom, 1-bath home is conveniently located near the town square, offering easy access to local shops and amenities. The property features an attached lean-to for additional storage and provides both front and rear parking options. With its great location and potential for added value, this home presents a great opportunity to build equity.

21. 2025-07-16
    historical
22. 2025-07-11
    price $10,000
23. 2025-06-26
    price $50,000
24. 2025-02-26
    listed $60,000 Active
25. 1996-09-24
    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: $419 · $35/mo
• Projected year-2 tax: $679 · $57/mo
• Expected delta: +$260/yr (+$22/mo · 62.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,000
• − Mortgage interest: −$3,921
• − Property taxes: −$419
• − Insurance: −$350
• − Repairs & maintenance: −$720
• − Management: −$720
• − Depreciation: −$2,036
• Taxable income: $833
• Est. tax owed @ 24.0%: −$200
• After-tax cash flow: $1,736/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: South Harrison County R-II
• NCES district ID: 2900002
• Math proficiency: 41% ▼ -1.00%
• Reading proficiency: 42% ▼ -5.00%
• Median HH income: $39,716
• Composite: 34.76/100
• National rank: #5127
• State rank: #131 of 324 in MO

Livability — Bethany

• Score: 67/100
• State rank: #206
• US rank: #10447

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bethany, MO
• City population: 3,664
• Population (ZIP): 3,664

Population outlook (Harrison County) Hauer SSP2

• Today (2025): 7,893 people
• By 2030: 7,511 · -4.8%
• By 2040: 6,811 · -13.7%
• By 2050: 6,131 · -22.3%
• By 2075: 4,814 · -39.0%
• By 2100: 3,643 · -53.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 3% Two or more races 3% Black 1%
• Common ancestry: Iranian 4% Slovak 2% Lithuanian 1%
• Foreign-born: 2% · Canada, South Korea

Political lean MEDSL · Harrison

• 2024 margin: Solid R (+71.8) · D 13.9% · R 85.6%
• 2008→2024 swing: -40.5pp toward R · 2008: -31.3pp · 2024: -71.8pp
• All cycles: 2024: R+71.8 2020: R+68.0 2016: R+64.9 2012: R+44.4 2008: R+31.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.70%
• Current HPI: 187.1418
• 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

+30.0% since first listed

8 events — show timeline

• 2026-05-17 Contingent — Heartland MLS as Distributed by MLS Grid
• 2026-04-28 Price Changed $78,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-25 Listed $89,000 Heartland MLS as Distributed by MLS Grid
• 2025-07-16 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-07-11 Price Changed $10,000 Heartland MLS as Distributed by MLS Grid
• 2025-06-26 Price Changed $50,000 Heartland MLS as Distributed by MLS Grid
• 2025-02-26 Listed $60,000 Heartland MLS as Distributed by MLS Grid
• 1996-09-24 Sold (Public Records) — Public Records

Property tax history

+1.8%/yr

Latest (2025): $419 · +9.8% YoY. Source: county tax records.