1206 Mulberry St · Bismarck, MO 63624

$20,000

2 bd · 1.0 ba · 1,004 sqft · Other public records · 53 Days on market

Built 1945 0.31 ac lot $20/sqft · 85% below area ↓ 60% since listing

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Why this score? — see what drove the C- 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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0

Listing remarks MLS

Investment opportunity in the heart of Bismarck! Situated on two lots totaling approximately 0.31 acres, this property offers a rare combination of space and location—just a short walk from downtown amenities. The home features over 1,000 square feet with three bedrooms and one full bath, including a main bedroom with convenient access to the bathroom. With a level lot, large side yard, and expansive backyard, there is plenty of room for improvement, expansion, or outdoor use. Whether you’re looking for a fix-and-flip, rental investment, or a property to update and make your own, this home provides a solid starting point with great potential. Public utilities are already in place, adding to the overall convenience and value. Bring your vision and take advantage of this affordable opportunity in a desirable small-town setting.

Key facts

• Two lots
• Level lot
• Large side yard

Tags

• INVESTMENT OPPORTUNITY
• TWO LOTS
• SHORT WALK FROM DOWNTOWN
• LEVEL LOT
• LARGE SIDE YARD
• EXPANSIVE BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $20k.

Deal economics

• At list price, monthly cash flow is $589 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($932 rent vs $20k).
• Recommended offer: $19k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#583 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B+; Watch: schools F, amenities F, commute F.
• Bismarck R-V (rural): math 18% / reading 31% proficiency, ranked #292 of 324 in MO (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 23 active listings in the ZIP; 134 units permitted in St. Francois County in 2024 (32 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($138 loan paydown + $2k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $19,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 4.66% ✓
• Cap rate: 41.61%
• Cash-on-cash: 126.12%
• DSCR: 6.61
• GRM: 1.8

CMA / ARV

• ARV (median comp): $134,390
• List price: $20,000
• Delta: -85.12%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.64×
• Total profit: $48,399
• Equity at exit: $18,018

10-year hold

• IRR: —
• Equity multiple: 21.19×
• Total profit: $113,088
• Equity at exit: $38,856

Cash invested: $5,600 (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 63624

• Home prices YoY: 23.8%
• Active inventory: 23
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $932 medium
• Mortgage (P&I): −$105
• Tax from tax record: −$35 /mo · $415/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$196
• Net cashflow: $589

Break-even live

Break-even rent $187

Max offer price $20,000

Occupancy floor 32%

Sensitivity live

Price	-10% $600	-5% $594	+0% $589	+5% $583	+10% $577
Rent	-10% $515	-5% $552	+0% $589	+5% $625	+10% $662
Rate	-1.0pp $599	-0.5pp $594	base $589	+0.5pp $583	+1.0pp $578

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-09
   statusdays on market $20,000 Pending 53 DOM
2. 2026-06-08
   days on market $20,000 Active 52 DOM
3. 2026-06-07
   days on market $20,000 Active 51 DOM
4. 2026-06-05
   days on market $20,000 Active 49 DOM
5. 2026-06-04
   days on market $20,000 Active 47 DOM
6. 2026-06-02
   days on market $20,000 Active 46 DOM
7. 2026-06-01
   days on market $20,000 Active 45 DOM
8. 2026-05-31
   days on market $20,000 Active 44 DOM
9. 2026-04-17
   listed $20,000 Active 852-char remark

   Show marketing remark (852 chars)

   Investment opportunity in the heart of Bismarck! Situated on two lots totaling approximately 0.31 acres, this property offers a rare combination of space and location—just a short walk from downtown amenities. The home features over 1,000 square feet with three bedrooms and one full bath, including a main bedroom with convenient access to the bathroom. With a level lot, large side yard, and expansive backyard, there is plenty of room for improvement, expansion, or outdoor use. Whether you’re looking for a fix-and-flip, rental investment, or a property to update and make your own, this home provides a solid starting point with great potential. Public utilities are already in place, adding to the overall convenience and value. Bring your vision and take advantage of this affordable opportunity in a desirable small-town setting.

10. 2025-05-12
    listed $24,900 Active
11. 2025-04-09
    price $39,900
12. 2025-04-05
    price $45,000
13. 2025-03-25
    listed $49,900 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: $415 · $35/mo
• Projected year-2 tax: $415 · $35/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,185
• − Mortgage interest: −$1,120
• − Property taxes: −$415
• − Insurance: −$100
• − Repairs & maintenance: −$895
• − Management: −$895
• − Depreciation: −$582
• Taxable income: $7,179
• Est. tax owed @ 24.0%: −$1,723
• After-tax cash flow: $5,340/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: Bismarck R-V
• NCES district ID: 2905130
• Math proficiency: 18% ▼ -14.00%
• Reading proficiency: 31% ▼ -6.00%
• Median HH income: $37,135
• Composite: 20.36/100
• National rank: #8602
• State rank: #292 of 324 in MO

Livability — Bismarck

• Score: 58/100
• State rank: #583
• US rank: #20759

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bismarck, MO
• Population (ZIP): 3,507

Population outlook (St. Francois County) Hauer SSP2

• Today (2025): 68,683 people
• By 2030: 69,574 · +1.3%
• By 2040: 70,665 · +2.9%
• By 2050: 70,708 · +2.9%
• By 2075: 67,917 · -1.1%
• By 2100: 56,563 · -17.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Native American 3% Hispanic / Latino 2%
• Common ancestry: Slovak 5% Lithuanian 4% Italian 2%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · St. Francois

• 2024 margin: Solid R (+51.4) · D 23.8% · R 75.2%
• 2008→2024 swing: -46.8pp toward R · 2008: -4.6pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+48.1 2016: R+45.4 2012: R+19.5 2008: R+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 61.65%
• Current HPI: 320.8335
• 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

-59.9% since first listed

5 events — show timeline

• 2026-04-17 Listed $20,000 MARIS as Distributed by MLS Grid
• 2025-05-12 Listed $24,900 MARIS as Distributed by MLS Grid
• 2025-04-09 Price Changed $39,900 MARIS as Distributed by MLS Grid
• 2025-04-05 Price Changed $45,000 MARIS as Distributed by MLS Grid
• 2025-03-25 Listed $49,900 MARIS as Distributed by MLS Grid

Property tax history

+5.2%/yr

Latest (2025): $415 · +5.4% YoY. Source: county tax records.