413 W Main St · Richmond, MO 64085

$87,500

2 bd · 1.0 ba · 994 sqft · SingleFamily public records · 18 Days on market

Built 1900 9,583 sqft lot $88/sqft · 35% below area Est $134k · 35% under ↓ 8% 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 +26.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +6.1/10.0
• Appreciation +5.1/10.0
• Livability +3.4/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to the small town of Richmond! Motivated sellers still need to do some clean-up on property. Very large walk-in closet with primary bedroom. Outdated bathroom features. Updated electric in 2017. Great AS IS property to make your own or invest in. The large shop/garage in the backyard is a plus! Just being 2 blocks from downtown shopping and amenities provides a nice walk at nearly every time of year.

Key facts

• Walk-in closet
• Updated electric
• Large shop garage

Tags

• WALK-IN CLOSET
• UPDATED ELECTRIC
• LARGE SHOP GARAGE
• 2 BLOCKS FROM DOWNTOWN

Property features AI

Finance

• Other: Lot includes stream(s); Lot roughly 9,583 square feet (public records); Not in a flood plain; Age: 101+ years; Above-grade living area reported as 990 (agent source); Basement: cellar and crawl space
• HOA & community: No association fees

Exterior

• Parking: Detached garage facing front; 2-car garage; Shared driveway
• Utilities: Public water; Public sewer; Paved public road
• Home design: Single-family residential; Bungalow / Ranch floor plan; Located inside city limits
• Construction: Vinyl siding; Composition roof; Garage(s) present
• Exterior features: Deck and patio; Property needs repair / fixer

Interior

• Kitchen: Kitchen with off-the-kitchen laundry access
• Bedrooms: 2 bedrooms (both on the first floor)
• Flooring: Wood flooring and other flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating system specified; No cooling system specified
• Interior features: Walk-in closet(s); Storm and thermal windows, with wood window frames; Liv/Dining combo
• Laundry & utility: Dryer hookup (electric) located off the kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $88k).
• Recommended offer: $86k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 3.7% in Richmond — 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 67/100 on livability (#198 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D+, amenities F.
• Richmond R-XVI (town): math 32% / reading 39% proficiency, ranked #209 of 324 in MO (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 99 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 56 units permitted in Ray County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $864 of equity ($605 loan paydown + $259 appreciation (0.3% local appreciation)).
• Ray County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.3% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($86k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,187 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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: 1.11% ✓
• Cap rate: 9.53%
• Cash-on-cash: 11.58%
• DSCR: 1.52
• GRM: 7.5

CMA / ARV

• ARV (median comp): $134,244
• List price: $87,500
• Delta: -34.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
305 Wilson Blvd	0.14mi	3/1.0 (+1)	1,036 (+4%)	2mo	$199,900	$193	80
802 W Lexington St	0.28mi	2/1.0	1,038 (+4%)	1mo	$139,000	$134	79
500 Shotwell St	0.26mi	2/1.0	1,060 (+7%)	2mo	$54,900	$52	75
403 S Thornton St	0.34mi	2/1.0	1,017 (+2%)	6mo	$59,500	$59	75
310 S College St	0.23mi	2/1.0	1,064 (+7%)	4mo	$179,900	$169	74
509 Sycamore Dr	0.43mi	3/1.0 (+1)	1,008 (+1%)	1mo	$220,000	$218	72
905 W Main St	0.42mi	2/1.0	950 (-4%)	6mo	$149,000	$157	68
701 W Lexington St	0.23mi	2/1.0	858 (-14%)	6mo	$155,000	$181	61
616 Shotwell St	0.50mi	2/1.0	1,092 (+10%)	3mo	$186,000	$170	58
309 Joseph St	0.66mi	2/1.0	900 (-10%)	2mo	$159,900	$178	52
519 S Shaw St	0.57mi	2/1.0	1,116 (+12%)	4mo	$184,900	$166	50
408 S Shaw St	0.39mi	3/1.0 (+1)	1,131 (+14%)	6mo	$159,900	$141	49

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

Projected returns pro-forma

0.3% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.5%
• Equity multiple: 1.56×
• Total profit: $13,690
• Equity at exit: $26,709

10-year hold

• IRR: 15.9%
• Equity multiple: 2.80×
• Total profit: $44,068
• Equity at exit: $33,164

Cash invested: $24,500 (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 64085

• Home prices YoY: 0.1%
• Active inventory: 99
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $975 medium
• Mortgage (P&I): −$459
• Tax from tax record: −$38 /mo · $460/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $236

Break-even live

Break-even rent $675

Max offer price $87,500

Occupancy floor 71%

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: $21,875
• Closing costs: $2,625
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1101 S Camden St Unit 1107 1 Richmond, MO	2.0	1.0	750	$1,000	$1.33	2d	1	1.11mi
1101 S Camden St Unit 1105 5 Richmond, MO	2.0	1.0	750	$1,000	$1.33	1d	1	1.11mi
1105 Fairway Dr Richmond, MO	2.0	1.0	782	$925	$1.18	1d	1	1.14mi

Listing history 2 events

1. 2026-05-13
   price $87,500 411-char remark
2. 2026-05-09
   listed $95,000 Active 411-char remark

ⓘ 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: $460 · $38/mo
• Projected year-2 tax: $849 · $71/mo
• Expected delta: +$389/yr (+$32/mo · 84.7%)

ⓘ 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 (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,696
• − Mortgage interest: −$4,901
• − Property taxes: −$460
• − Insurance: −$438
• − Repairs & maintenance: −$936
• − Management: −$936
• − Depreciation: −$2,545
• Taxable income: $1,481
• Est. tax owed @ 24.0%: −$355
• After-tax cash flow: $2,481/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: Richmond R-XVI
• NCES district ID: 2926480
• Math proficiency: 32% ▼ -11.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $44,070
• Composite: 30.17/100
• National rank: #6321
• State rank: #209 of 324 in MO

Livability — Richmond

• Score: 67/100
• State rank: #198
• US rank: #10160

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, MO
• Population (ZIP): 8,113

Population outlook (Ray County) Hauer SSP2

• Today (2025): 21,420 people
• By 2030: 20,507 · -4.3%
• By 2040: 18,550 · -13.4%
• By 2050: 16,516 · -22.9%
• By 2075: 12,899 · -39.8%
• By 2100: 10,413 · -51.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 3% Two or more races 3% Black 2% Native American 1%
• Common ancestry: Lithuanian 3% Slovak 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Ray

• 2024 margin: Solid R (+48.7) · D 25.1% · R 73.8% · Other 1.1%
• 2008→2024 swing: -45.5pp toward R · 2008: -3.2pp · 2024: -48.7pp
• All cycles: 2024: R+48.7 2020: R+45.0 2016: R+37.1 2012: R+14.9 2008: R+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.30%
• Current HPI: 374.3671
• 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

-7.9% since first listed

3 events — show timeline

• 2026-05-29 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2026-05-13 Price Changed $87,500 Heartland MLS as Distributed by MLS Grid
• 2026-05-09 Listed $95,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+4.4%/yr

Latest (2025): $460 · +6.5% YoY. Source: county tax records.