467 N Adams Ave · Lebanon, MO 65536

$25,000

3 bd · 1.0 ba · 837 sqft · Other public records · 53 Days on market

Built 1882 6,970 sqft lot $30/sqft · 79% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Historic Home Rebuild OpportunityThis is a true rebuild opportunity for an investor or builder looking to restore and modernize a historic home in a prime in-town location and is being sold in 'as-is' condition. Originally built in 1882, this 2-bedroom, 1-bath home sits on a 150' x 45' lot just 2 blocks off Main Street, 1 block from the grocery store, and directly across from a youth sports complex. The location alone makes this a rare find at this price point. The home is not a cosmetic rehab and is priced accordingly. It offers the opportunity to rework the layout and expand, including the potential to add a second-story primary suite off the back while maintaining the existing footprint.

Key facts

• Rezoned commercial
• 150 x 45 lot
• 6,970 sq ft lot

Tags

• PRIME IN-TOWN LOCATION
• 150 X 45 LOT
• 2 BLOCKS OFF MAIN STREET
• 1 BLOCK FROM GROCERY STORE
• REZONED COMMERCIAL
• REAR PARKING AND ACCESS

Property features AI

Finance

• Other: Lot dimensions approximately 45' x 150' (0.16 acre)
• Financial info: Financial details not provided
• HOA & community: HOA information not provided

Exterior

• Parking: Parking details not provided
• Security: Security details not provided
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property; Two-story
• Construction: Construction details not provided
• Exterior features: Asphalt road frontage; Frontage on a public maintained city street; Cross street: 5th; Directions: From I-44, take Lebanon exit, go N on Jefferson, W on 4th, N on Adams. Home on left.

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedrooms information not provided
• Flooring: Flooring details not provided
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Two levels
• Laundry & utility: Laundry and utility details not provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $25k.

Deal economics

• At list price, monthly cash flow is $694 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $24k (3.0% below list) — sets the bar for market timing.
• Cap rate 39.6% vs local median 3.7% in Lebanon — 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 64/100 on livability (#308 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime D, amenities F, commute F.
• Lebanon R-III (town): math 29% / reading 35% proficiency, ranked #256 of 324 in MO (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lebanon Middle School (math 33% / reading 35%, grade F, #255 of 391 statewide, top 66%, 921 students, 59% FRL); Lebanon Sr. High (math 16% / reading 34%, grade F, #435 of 521 statewide, top 83%, 1,474 students, 50% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: 256 active listings in the ZIP; 61 units permitted in Laclede County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Laclede County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k 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 ($24k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1882 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $24,250 (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 1882 — 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 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 4.27% ✓
• Cap rate: 39.62%
• Cash-on-cash: 119.01%
• DSCR: 6.30
• GRM: 2.0

CMA / ARV

• ARV (median comp): $118,889
• List price: $25,000
• Delta: -78.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 6.74×
• Total profit: $40,166
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 14.13×
• Total profit: $91,917
• Equity at exit: $2,162

Cash invested: $7,000 (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 65536

• Home prices YoY: -21.8%
• Active inventory: 256
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,068 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$8 /mo · $99/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $694

Break-even live

Break-even rent $190

Max offer price $25,000

Occupancy floor 30%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-19
   days on market $25,000 Active 53 DOM
2. 2026-06-18
   days on market $25,000 Active 52 DOM
3. 2026-06-17
   days on market $25,000 Active 51 DOM
4. 2026-06-16
   days on market $25,000 Active 50 DOM
5. 2026-06-15
   days on market $25,000 Active 49 DOM
6. 2026-06-14
   days on market $25,000 Active 47 DOM
7. 2026-06-12
   days on market $25,000 Active 46 DOM
8. 2026-06-09
   days on market $25,000 Active 43 DOM
9. 2026-06-08
   days on market $25,000 Active 42 DOM
10. 2026-06-07
    days on market $25,000 Active 41 DOM
11. 2026-06-02
    days on market $25,000 Active 36 DOM
12. 2026-06-01
    days on market $25,000 Active 35 DOM
13. 2026-05-31
    days on market $25,000 Active 34 DOM
14. 2026-05-30
    days on market $25,000 Active 33 DOM
15. 2026-04-27
    listed $25,000 Active 1335-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: $99 · $8/mo
• Projected year-2 tax: $242 · $20/mo
• Expected delta: +$144/yr (+$12/mo · 146.2%)

ⓘ 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 ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $12,819
• − Mortgage interest: −$1,400
• − Property taxes: −$99
• − Insurance: −$125
• − Repairs & maintenance: −$1,026
• − Management: −$1,026
• − Depreciation: −$727
• Taxable income: $8,417
• Est. tax owed @ 24.0%: −$2,020
• After-tax cash flow: $6,310/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: Lebanon R-III
• NCES district ID: 2918270
• Math proficiency: 29% ▼ -10.00%
• Reading proficiency: 35% ▼ -8.00%
• Median HH income: $38,352
• Composite: 26.73/100
• National rank: #7145
• State rank: #256 of 324 in MO

Livability — Lebanon

• Score: 64/100
• State rank: #308
• US rank: #14040

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lebanon, MO
• County: Laclede County · 29,915 people
• City population: 29,915
• Metro: Lebanon, MO
• Population (ZIP): 29,915
• Household income: $53,783
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 641.0

Population outlook (Laclede County) Hauer SSP2

• Today (2025): 34,730 people
• By 2030: 33,985 · -2.1%
• By 2040: 32,213 · -7.2%
• By 2050: 30,189 · -13.1%
• By 2075: 24,782 · -28.6%
• By 2100: 18,554 · -46.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Iranian 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Laclede

• 2024 margin: Solid R (+66.8) · D 16.1% · R 82.9%
• 2008→2024 swing: +212.7pp toward D · 2008: -279.5pp · 2024: -66.8pp
• All cycles: 2024: R+66.8 2020: R+65.4 2016: R+64.5 2012: R+44.5 2008: R+279.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.82%
• Current HPI: 196.7643
• Rent YoY: —
• Metro: Lebanon, MO
• 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

1 event — show timeline

• 2026-04-27 Listed $25,000 SOMO

Property tax history

-17.0%/yr

Latest (2025): $99 · -31.2% YoY. Source: county tax records.