700 Spruce St · Lockwood, MO 65682

$125,000

4 bd · 1.0 ba · 1,700 sqft · SingleFamily · 99 Days on market

Built 1942 Fair condition 8,712 sqft lot $74/sqft · 23% below area Est $163k · 23% 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 +20.3/30.0
• ARV discount +15.0/15.0
• Appreciation +7.9/10.0
• DSCR +6.5/10.0
• 1% rule +5.4/10.0
• Livability +3.4/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

This charming home is waiting for you to put the finishing touches and make it your own! It is full of potential - and is livable while you watch it all come together! And a bonus!? The original hardwood floors throughout are ready to shine with just a little TLC! You will enjoy the newer side, covered porch and large side and back yard ready for summer get togethers, along with the stone outdoor fireplace for those cool evenings and s'more cook offs! If you enjoy DIY projects, appreciate farm style homes, or are an investor looking to give a home a refresh, you don't want to miss this one! Located just minutes from STOCKTON LAKE and an hour from Springfield or Joplin, this home is conveniently located and yet has all the amenities for those every day needs, along with a city park, pool and golf course. House is sold AS IS

Key facts

• Covered porch
• Large back yard
• Large side yard

Tags

• ORIGINAL HARDWOOD FLOORS
• COVERED PORCH
• LARGE SIDE YARD
• LARGE BACK YARD
• STONE OUTDOOR FIREPLACE
• MINUTES FROM STOCKTON LAKE

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $125k. Condition is rated fair.

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 ($1k rent vs $125k).
• Recommended offer: $114k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#180 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools C-, amenities F, commute F.
• Lockwood R-I (rural): math 30% / reading 40% proficiency, ranked #398 of 535 in MO (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 10 active listings in the ZIP.

Forward outlook

• In year one you build about $8k of equity ($864 loan paydown + $7k appreciation (5.9% local appreciation)).
• Dade County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y ago; this cycle's ask has dropped $50k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 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 1942 — 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. 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: 1.04% ✓
• Cap rate: 7.84%
• Cash-on-cash: 5.51%
• DSCR: 1.25
• GRM: 8.0

CMA / ARV

• ARV (median comp): $162,830
• List price: $125,000
• Delta: -23.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 W W. 4th Street St	0.30mi	4/2.0	1,856 (+9%)	23mo	$184,900	$100	48
401 E 17th St	0.54mi	3/2.0 (-1)	1,568 (-8%)	9mo	$219,900	$140	46
102 E 3rd Street St	0.35mi	3/2.0 (-1)	1,575 (-7%)	20mo	$75,500	$48	46

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

Projected returns pro-forma

5.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.6%
• Equity multiple: 2.29×
• Total profit: $45,308
• Equity at exit: $77,469

10-year hold

• IRR: 19.0%
• Equity multiple: 4.59×
• Total profit: $125,573
• Equity at exit: $139,538

Cash invested: $35,000 (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 65682

• Home prices YoY: 3.2%
• Active inventory: 10
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,297 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $161

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 83%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $125,000 Active 99 DOM
2. 2026-06-17
   days on market $125,000 Active 98 DOM
3. 2026-06-16
   days on market $125,000 Active 97 DOM
4. 2026-06-15
   days on market $125,000 Active 96 DOM
5. 2026-06-13
   days on market $125,000 Active 94 DOM
6. 2026-06-12
   days on market $125,000 Active 93 DOM
7. 2026-06-09
   days on market $125,000 Active 90 DOM
8. 2026-06-08
   days on market $125,000 Active 89 DOM
9. 2026-06-07
   days on market $125,000 Active 88 DOM
10. 2026-06-07
    days on market $125,000 Active 87 DOM
11. 2026-06-04
    days on market $125,000 Active 84 DOM
12. 2026-06-02
    days on market $125,000 Active 83 DOM
13. 2026-06-01
    days on market $125,000 Active 82 DOM
14. 2026-05-31
    days on market $125,000 Active 81 DOM
15. 2026-03-31
    price $150,000 839-char remark

    Show marketing remark (839 chars)

    This charming home is waiting for you to put the finishing touches and make it your own! It is full of potential - and is livable while you watch it all come together! And a bonus!? The original hardwood floors throughout are ready to shine with just a little TLC! You will enjoy the newer side, covered porch and large side and back yard ready for summer get togethers, along with the stone outdoor fireplace for those cool evenings and s'more cook offs! If you enjoy DIY projects, appreciate farm style homes, or are an investor looking to give a home a refresh, you don't want to miss this one! Located just minutes from STOCKTON LAKE and an hour from Springfield or Joplin, this home is conveniently located and yet has all the amenities for those every day needs, along with a city park, pool and golf course. House is sold AS IS

16. 2026-03-10
    listed $175,000 Active 839-char remark

    Show marketing remark (839 chars)

    This charming home is waiting for you to put the finishing touches and make it your own! It is full of potential - and is livable while you watch it all come together! And a bonus!? The original hardwood floors throughout are ready to shine with just a little TLC! You will enjoy the newer side, covered porch and large side and back yard ready for summer get togethers, along with the stone outdoor fireplace for those cool evenings and s'more cook offs! If you enjoy DIY projects, appreciate farm style homes, or are an investor looking to give a home a refresh, you don't want to miss this one! Located just minutes from STOCKTON LAKE and an hour from Springfield or Joplin, this home is conveniently located and yet has all the amenities for those every day needs, along with a city park, pool and golf course. House is sold AS IS

17. 2006-05-15
    historical
18. 2005-10-10
    listed $49,500

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

Taxation est. · year 1

• Rental income: $15,564
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,245
• − Management: −$1,245
• − Depreciation: −$3,636
• Taxable loss: −$64
• Est. tax savings @ 24.0%: +$15
• After-tax cash flow: $1,945/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 · 2 photos

Fair 45/100 Moderate rehab

This charming home has fair condition with moderate repairs needed, particularly to the exterior siding and interior walls. Upgrades in these areas, along with painting and landscaping, can significantly enhance its value for both resale and rental.

Repairs flagged

• Moderate Exterior siding — Weathered and some areas show discoloration.
• Moderate Interior walls — Some discoloration and wear visible.
• Unknown HVAC/mechanical systems — No photos provided to assess condition.
• Minor Landscaping — Simple landscaping with some overgrowth, but overall maintained.

Value-add opportunities

• Both Paint interior walls — Fresh paint can significantly improve the home's appearance and value.
• Both Replace exterior siding — New siding can enhance curb appeal and increase the home's value.
• Both Upgrade HVAC systems — Modern, efficient HVAC systems can improve comfort and energy efficiency, boosting both resale and rental values.
• Both Landscaping and curb appeal — A well-maintained and aesthetically pleasing exterior can attract more buyers and renters, increasing the home's value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and some areas show discoloration.	Moderate	$3,000–15,000
Interior walls · Some discoloration and wear visible.	Moderate	$3,000–15,000
HVAC/mechanical systems · No photos provided to assess condition.	Unknown	$500–3,000
Landscaping · Simple landscaping with some overgrowth, but overall maintained.	Minor	$500–3,000
Total estimated repair cost · 4 items		$7,000–36,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can significantly improve the home's appearance and value. ↑
• Both Replace exterior siding — New siding can enhance curb appeal and increase the home's value. ↑
• Both Upgrade HVAC systems — Modern, efficient HVAC systems can improve comfort and energy efficiency, boosting both resale and rental values. ↑
• Both Landscaping and curb appeal — A well-maintained and aesthetically pleasing exterior can attract more buyers and renters, increasing the home's value. ↑

ⓘ 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: Lockwood R-I
• NCES district ID: 2919140
• Math proficiency: 30% ▲ 10.00%
• Reading proficiency: 40% ▲ 5.00%
• Median HH income: $37,486
• Composite: 31.77/100
• National rank: #11093
• State rank: #398 of 535 in MO

Livability — Lockwood

• Score: 68/100
• State rank: #180
• US rank: #9478

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lockwood, MO
• Population (ZIP): 2,079

Population outlook (Dade County) Hauer SSP2

• Today (2025): 7,043 people
• By 2030: 6,687 · -5.1%
• By 2040: 5,989 · -15.0%
• By 2050: 5,324 · -24.4%
• By 2075: 4,122 · -41.5%
• By 2100: 3,168 · -55.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Lithuanian 6% Italian 3% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Dade

• 2024 margin: Solid R (+67.1) · D 16.0% · R 83.2%
• 2008→2024 swing: -26.3pp toward R · 2008: -40.9pp · 2024: -67.1pp
• All cycles: 2024: R+67.1 2020: R+67.0 2016: R+64.5 2012: R+50.2 2008: R+40.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.86%
• Current HPI: 190.417
• 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

+203.0% since first listed

4 events — show timeline

• 2026-03-31 Price Changed $150,000 SOMO
• 2026-03-10 Listed $175,000 SOMO
• 2006-05-15 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2005-10-10 Listed $49,500 Heartland MLS as Distributed by MLS Grid