405 College St · Mount Vernon, MO 65712

$174,900

4 bd · 2.0 ba · 1,437 sqft · MultiFamily public records · 164 Days on market

Built 1930 0.32 ac lot Est $155k · 13% over ↓ 9% since listing

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Why this score? — see what drove the D+ 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 +21.1/30.0
• DSCR +6.7/10.0
• 1% rule +4.3/10.0
• Livability +3.6/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.8/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Beautiful Victorian style home located in the heart of Mt Vernon. This home has charm to spare. Step in the front door and the first thing you'll notice is the grand stairway in the foyer complete with a built in lamp. Downstairs you'll find a large living area with a nice fireplace and pop out window area. There's also one downstairs bedroom and bathroom, a large kitchen and formal dining area and an extra room that would make a nice parlor or second living area. The home features four bedrooms and two full bathrooms. Upstairs you'll find three more bedrooms and a nice bathroom. There's even a nice outdoor balcony. Step outside and you'll notice a nice deck off the kitchen and there's even

Key facts

• Grand stairway
• Large living area
• Victorian style home

Tags

• VICTORIAN STYLE HOME
• GRAND STAIRWAY
• BUILT IN LAMP
• LARGE LIVING AREA
• FIREPLACE
• POP OUT WINDOW AREA

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two stories; Corner lot; Level lot; Has a view
• Construction: Frame construction with wood siding; Composition roof
• Exterior features: Rain gutters; Covered front porch; Deck

Interior

• Kitchen: Gas oven; Free-standing gas oven
• Bedrooms: Bedrooms on multiple levels (two-story home)
• Flooring: Carpet; Hardwood; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central heating; Central air conditioning
• Interior features: Wood-burning fireplace in the living room; Basement
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $249 ($3k/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 $163k (6.7% below list).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 4.3% in Mount Vernon — 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 72/100 on livability (#98 in MO) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Mt. Vernon R-V (town): math 35% / reading 48% proficiency, ranked #129 of 324 in MO (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mt. Vernon Elem. (308 students, 53% FRL); Mt. Vernon Middle (math 36% / reading 43%, grade F, #189 of 391 statewide, top 51%, 361 students, 48% FRL); Mt. Vernon High (math 17% / reading 52%, grade F, #321 of 521 statewide, top 67%, 458 students, 37% FRL) — zoned schools at 46% FRL track the district average.
• Market conditions: 87 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 67 units permitted in Lawrence County in 2024 (35 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Lawrence County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 164 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $153,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 164 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 8.00%
• Cash-on-cash: 6.09%
• DSCR: 1.27
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $155,196
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
816 & 818 Looney St	0.43mi	4/2.0	1,620 (+13%)	2mo	$175,000	$108	57

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

Projected returns pro-forma

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

5-year hold

• IRR: -6.9%
• Equity multiple: 0.74×
• Total profit: $-12,579
• Equity at exit: $26,078

10-year hold

• IRR: 2.6%
• Equity multiple: 1.19×
• Total profit: $9,124
• Equity at exit: $15,122

Cash invested: $48,972 (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 65712

• Home prices YoY: -17.5%
• Active inventory: 87
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,631 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$50 /mo · $601/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $249

Break-even live

Break-even rent $1,317

Max offer price $174,900

Occupancy floor 80%

Sensitivity live

Price	-10% $348	-5% $298	+0% $249	+5% $199	+10% $150
Rent	-10% $120	-5% $184	+0% $249	+5% $313	+10% $378
Rate	-1.0pp $337	-0.5pp $293	base $249	+0.5pp $203	+1.0pp $157

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
212 W Blaze Rd Mount Vernon, MO	3.0	2.0	1600	$1,650	$1.03	14d	1	0.29mi
1706 S Hazel St Mt Vernon, MO	3.0	2.0	1419	$1,595	$1.12	14d	1	0.62mi

Listing history 20 events

1. 2026-06-18
   price $174,900 Active 164 DOM
2. 2026-06-18
   days on market $199,900 Active 164 DOM
3. 2026-06-17
   days on market $199,900 Active 163 DOM
4. 2026-06-16
   days on market $199,900 Active 162 DOM
5. 2026-06-15
   days on market $199,900 Active 161 DOM
6. 2026-06-14
   days on market $199,900 Active 159 DOM
7. 2026-06-13
   days on market $199,900 Active 158 DOM
8. 2026-06-10
   days on market $199,900 Active 156 DOM
9. 2026-06-09
   days on market $199,900 Active 155 DOM
10. 2026-06-08
    days on market $199,900 Active 154 DOM
11. 2026-06-07
    days on market $199,900 Active 153 DOM
12. 2026-06-03
    days on market $199,900 Active 149 DOM
13. 2026-06-02
    days on market $199,900 Active 148 DOM
14. 2026-06-01
    days on market $199,900 Active 147 DOM
15. 2026-05-31
    days on market $199,900 Active 146 DOM
16. 2026-05-30
    days on market $199,900 Active 145 DOM
17. 2026-05-11
    price $199,900
18. 2026-04-17
    price $209,900
19. 2026-03-25
    price $214,900
20. 2026-01-05
    listed $219,900 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: $601 · $50/mo
• Projected year-2 tax: $1,697 · $141/mo
• Expected delta: +$1,096/yr (+$91/mo · 182.5%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,577
• − Mortgage interest: −$9,797
• − Property taxes: −$601
• − Insurance: −$874
• − Repairs & maintenance: −$1,566
• − Management: −$1,566
• − Depreciation: −$5,088
• Taxable income: $85
• Est. tax owed @ 24.0%: −$20
• After-tax cash flow: $2,964/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: Mt. Vernon R-V
• NCES district ID: 2921600
• Math proficiency: 35% ▼ -4.00%
• Reading proficiency: 48% ▼ -1.00%
• Median HH income: $43,114
• Composite: 35.03/100
• National rank: #5040
• State rank: #129 of 324 in MO

Livability — Mount Vernon

• Score: 72/100
• State rank: #98
• US rank: #6475

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Vernon, MO
• Population (ZIP): 8,910

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 37,142 people
• By 2030: 36,212 · -2.5%
• By 2040: 34,080 · -8.2%
• By 2050: 31,621 · -14.9%
• By 2075: 25,987 · -30.0%
• By 2100: 20,151 · -45.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Slovak 2% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Other Indo-European 2% Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+63.8) · D 17.6% · R 81.5%
• 2008→2024 swing: -26.8pp toward R · 2008: -37.1pp · 2024: -63.8pp
• All cycles: 2024: R+63.8 2020: R+62.6 2016: R+61.1 2012: R+47.0 2008: R+37.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.55%
• Current HPI: 243.6185
• 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

-9.1% since first listed

4 events — show timeline

• 2026-05-11 Price Changed $199,900 SOMO
• 2026-04-17 Price Changed $209,900 SOMO
• 2026-03-25 Price Changed $214,900 SOMO
• 2026-01-05 Listed $219,900 SOMO

Property tax history

+3.8%/yr

Latest (2025): $601 · +7.4% YoY. Source: county tax records.