903 Vine St · Thayer, MO 65791

$135,000

2 bd · 1.0 ba · 1,740 sqft · Other public records · 97 Days on market

Built 1900 0.33 ac lot $78/sqft · 14% above area Est $118k · 14% over

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Why this score? — see what drove the F 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 +13.8/30.0
• DSCR +4.2/10.0
• Schools +4.2/10.0
• Livability +3.0/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 1900s Farmhouse with Modern Updates! This 3-bedroom, 3-bathroom home sits on a spacious corner lot in the heart of Thayer. Combining original character with contemporary comfort, the main level features a primary bedroom with its own full bath, a cozy living room with a propane fireplace, and a formal dining room perfect for entertaining. Enjoy beautiful hardwood and tile flooring throughout, plus a remodeled kitchen. The second level offers additional living space with a bonus room. Relax on the covered front porch with your favorite swing or utilize the convenient storage shed. With high-speed internet available and close proximity to local schools, this move-in-ready gem offers the perfect blend of small-town living and modern convenience.

Key facts

• Covered front porch
• Propane fireplace
• High-speed internet

Tags

• CORNER LOT
• PROPANE FIREPLACE
• REMODELED KITCHEN
• COVERED FRONT PORCH
• STORAGE SHED
• HIGH-SPEED INTERNET

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $135k.

Deal economics

• At list price, monthly cash flow is $12 ($145/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $103k (23.7% below list).
• Recommended offer: $103k (23.7% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.1% in Thayer — 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 59/100 on livability (#530 in MO) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Thayer R-II (rural): math 51% / reading 52% proficiency, ranked #42 of 324 in MO (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 58 active listings in the ZIP; 5 units permitted in Oregon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Oregon County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,000 (23.7% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.76% ✗
• Cap rate: 6.40%
• Cash-on-cash: 0.38%
• DSCR: 1.02
• GRM: 10.9

CMA / ARV

• ARV (median comp): $118,043
• List price: $135,000
• Delta: 14.37%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -15.8%
• Equity multiple: 0.44×
• Total profit: $-21,172
• Equity at exit: $20,129

10-year hold

• IRR: -7.4%
• Equity multiple: 0.53×
• Total profit: $-17,711
• Equity at exit: $11,672

Cash invested: $37,800 (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 65791

• Home prices YoY: -10.5%
• Active inventory: 58
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,030 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$37 /mo · $449/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $12

Break-even live

Break-even rent $1,015

Max offer price $135,000

Occupancy floor 94%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $135,000 Active 97 DOM
2. 2026-06-17
   days on market $135,000 Active 96 DOM
3. 2026-06-16
   days on market $135,000 Active 95 DOM
4. 2026-06-15
   days on market $135,000 Active 94 DOM
5. 2026-06-13
   days on market $135,000 Active 92 DOM
6. 2026-06-12
   days on market $135,000 Active 91 DOM
7. 2026-06-09
   days on market $135,000 Active 88 DOM
8. 2026-06-08
   days on market $135,000 Active 87 DOM
9. 2026-06-07
   days on market $135,000 Active 86 DOM
10. 2026-06-07
    days on market $135,000 Active 85 DOM
11. 2026-06-04
    days on market $135,000 Active 82 DOM
12. 2026-06-02
    days on market $135,000 Active 81 DOM
13. 2026-06-01
    days on market $135,000 Active 80 DOM
14. 2026-05-31
    days on market $135,000 Active 79 DOM
15. 2026-05-31
    price $135,000 Active 78 DOM
16. 2026-05-07
    price $149,900 761-char remark

    Show marketing remark (761 chars)

    Charming 1900s Farmhouse with Modern Updates! This 3-bedroom, 3-bathroom home sits on a spacious corner lot in the heart of Thayer. Combining original character with contemporary comfort, the main level features a primary bedroom with its own full bath, a cozy living room with a propane fireplace, and a formal dining room perfect for entertaining. Enjoy beautiful hardwood and tile flooring throughout, plus a remodeled kitchen. The second level offers additional living space with a bonus room. Relax on the covered front porch with your favorite swing or utilize the convenient storage shed. With high-speed internet available and close proximity to local schools, this move-in-ready gem offers the perfect blend of small-town living and modern convenience.

17. 2026-03-13
    listed $155,000 Active 761-char remark

    Show marketing remark (761 chars)

    Charming 1900s Farmhouse with Modern Updates! This 3-bedroom, 3-bathroom home sits on a spacious corner lot in the heart of Thayer. Combining original character with contemporary comfort, the main level features a primary bedroom with its own full bath, a cozy living room with a propane fireplace, and a formal dining room perfect for entertaining. Enjoy beautiful hardwood and tile flooring throughout, plus a remodeled kitchen. The second level offers additional living space with a bonus room. Relax on the covered front porch with your favorite swing or utilize the convenient storage shed. With high-speed internet available and close proximity to local schools, this move-in-ready gem offers the perfect blend of small-town living and modern convenience.

18. 2024-05-20
    soldstatus Closed 440-char remark

    Show marketing remark (440 chars)

    A large corner lot and charming farmhouse in town with many updates meld the original character with modern amenities. 2 bedrooms and full bath with a bonus room on 2nd level, Primary bedroom on main with a full bath of its own. Living room w/ Fireplace and Formal dining room and bath, remodeled kitchen. Hardwood floors throughout, storage shed, and covered front porch with swing make this property a wonderful home. Don't miss this one!

19. 2024-04-13
    status Pending 440-char remark

    Show marketing remark (440 chars)

    A large corner lot and charming farmhouse in town with many updates meld the original character with modern amenities. 2 bedrooms and full bath with a bonus room on 2nd level, Primary bedroom on main with a full bath of its own. Living room w/ Fireplace and Formal dining room and bath, remodeled kitchen. Hardwood floors throughout, storage shed, and covered front porch with swing make this property a wonderful home. Don't miss this one!

20. 2024-01-09
    price $124,900 440-char remark

    Show marketing remark (440 chars)

    A large corner lot and charming farmhouse in town with many updates meld the original character with modern amenities. 2 bedrooms and full bath with a bonus room on 2nd level, Primary bedroom on main with a full bath of its own. Living room w/ Fireplace and Formal dining room and bath, remodeled kitchen. Hardwood floors throughout, storage shed, and covered front porch with swing make this property a wonderful home. Don't miss this one!

21. 2023-12-02
    listed $129,900 Active 440-char remark

    Show marketing remark (440 chars)

    A large corner lot and charming farmhouse in town with many updates meld the original character with modern amenities. 2 bedrooms and full bath with a bonus room on 2nd level, Primary bedroom on main with a full bath of its own. Living room w/ Fireplace and Formal dining room and bath, remodeled kitchen. Hardwood floors throughout, storage shed, and covered front porch with swing make this property a wonderful home. Don't miss this one!

ⓘ 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: $449 · $37/mo
• Projected year-2 tax: $1,310 · $109/mo
• Expected delta: +$860/yr (+$72/mo · 191.6%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $12,360
• − Mortgage interest: −$7,562
• − Property taxes: −$449
• − Insurance: −$675
• − Repairs & maintenance: −$989
• − Management: −$989
• − Depreciation: −$3,927
• Taxable loss: −$2,231
• Est. tax savings @ 24.0%: +$535
• After-tax cash flow: $680/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: Thayer R-II
• NCES district ID: 2930270
• Math proficiency: 51% ▼ -8.00%
• Reading proficiency: 52% ▼ -6.00%
• Median HH income: $31,092
• Composite: 42.22/100
• National rank: #3284
• State rank: #42 of 324 in MO

Livability — Thayer

• Score: 59/100
• State rank: #530
• US rank: #19863

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Thayer, MO
• Population (ZIP): 4,172

Population outlook (Oregon County) Hauer SSP2

• Today (2025): 10,607 people
• By 2030: 10,352 · -2.4%
• By 2040: 9,829 · -7.3%
• By 2050: 9,286 · -12.5%
• By 2075: 8,392 · -20.9%
• By 2100: 7,136 · -32.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 5% Hispanic / Latino 1%
• Common ancestry: Serbian 2% Slovak 2% Portuguese 1%
• Foreign-born: 0%

Political lean MEDSL · Oregon

• 2024 margin: Solid R (+69.1) · D 15.1% · R 84.2%
• 2008→2024 swing: -50.8pp toward R · 2008: -18.3pp · 2024: -69.1pp
• All cycles: 2024: R+69.1 2020: R+63.8 2016: R+60.1 2012: R+33.2 2008: R+18.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -23.09%
• Current HPI: 196.3094
• 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

+15.4% since first listed

6 events — show timeline

• 2026-05-07 Price Changed $149,900 SOMO
• 2026-03-13 Listed $155,000 SOMO
• 2024-05-20 Sold (MLS) — SOMO
• 2024-04-13 Pending — SOMO
• 2024-01-09 Price Changed $124,900 SOMO
• 2023-12-02 Listed $129,900 SOMO

Property tax history

+2.0%/yr

Latest (2025): $449 · +11.6% YoY. Source: county tax records.