203 Aid Ave · West Plains, MO 65775

$150,000

None bd · None ba · 2,234 sqft · MultiFamily · 986 Days on market

Built 1894 Fair condition $67/sqft · at area comps Est $157k · at est.

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.6/15.0
• Livability +3.9/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 5 units. estimate disagrees with records

Listing remarks MLS

Downtown Historic West Plains. Located just off the square is your opportunity to own income property. A 5-unit multifamily apartment you can continue to rent as is or rehab them and turn them into nightly or monthly rentals.

Key facts

• Built 1894
• Listed 985 days

What this means for you Summary

Snapshot

• This is a 5 × 1-bed/1-bath units multifamily listed at $150k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $395/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 22.1% vs local median 3.1% in West Plains — 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 77/100 on livability (#34 in MO, #2,977 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime C-, commute C-, schools D.
• West Plains R-VII (rural): math 36% / reading 46% proficiency, ranked #152 of 324 in MO (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 315 active listings in the ZIP; 53 units permitted in Howell County in 2024 (0 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 $4k of value loss. Plan a longer hold.
• Howell County population projected at -18% 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 $42k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 986 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago 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 1894 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 986 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1894 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 2.54% ✓
• Cap rate: 22.10%
• Cash-on-cash: 56.45%
• DSCR: 3.51
• GRM: 3.3

CMA / ARV

• ARV (median comp): $157,345
• List price: $150,000
• Delta: -4.67%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 54.9%
• Equity multiple: 3.42×
• Total profit: $101,582
• Equity at exit: $22,365

10-year hold

• IRR: 59.9%
• Equity multiple: 6.97×
• Total profit: $250,716
• Equity at exit: $12,969

Cash invested: $42,000 (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 65775

• Home prices YoY: -16.4%
• Active inventory: 315
• Price-to-rent: 16.4×

Monthly cashflow live

• Estimated rent: $3,813 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$801
• Net cashflow: $1,976

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 43%

Sensitivity live

Price	-10% $2,079	-5% $2,027	+0% $1,976	+5% $1,924	+10% $1,872
Rent	-10% $1,674	-5% $1,825	+0% $1,976	+5% $2,126	+10% $2,277
Rate	-1.0pp $2,051	-0.5pp $2,014	base $1,976	+0.5pp $1,937	+1.0pp $1,897

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	1	1	$3,815
Total (5 units)			$3,813

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $150,000 Active 986 DOM
2. 2026-06-17
   days on market $150,000 Active 985 DOM
3. 2026-06-16
   days on market $150,000 Active 984 DOM
4. 2026-06-15
   days on market $150,000 Active 983 DOM
5. 2026-06-13
   days on market $150,000 Active 981 DOM
6. 2026-06-12
   days on market $150,000 Active 980 DOM
7. 2026-06-09
   days on market $150,000 Active 977 DOM
8. 2026-06-08
   days on market $150,000 Active 976 DOM
9. 2026-06-07
   days on market $150,000 Active 975 DOM
10. 2026-06-07
    days on market $150,000 Active 974 DOM
11. 2026-06-04
    days on market $150,000 Active 971 DOM
12. 2026-06-02
    days on market $150,000 Active 970 DOM
13. 2026-06-01
    days on market $150,000 Active 969 DOM
14. 2026-05-31
    days on market $150,000 Active 968 DOM
15. 2024-12-20
    status Active 225-char remark

    Show marketing remark (225 chars)

    Downtown Historic West Plains. Located just off the square is your opportunity to own income property. A 5-unit multifamily apartment you can continue to rent as is or rehab them and turn them into nightly or monthly rentals.

16. 2024-09-23
    status Active 225-char remark

    Show marketing remark (225 chars)

    Downtown Historic West Plains. Located just off the square is your opportunity to own income property. A 5-unit multifamily apartment you can continue to rent as is or rehab them and turn them into nightly or monthly rentals.

17. 2024-08-27
    status Pending 225-char remark

    Show marketing remark (225 chars)

    Downtown Historic West Plains. Located just off the square is your opportunity to own income property. A 5-unit multifamily apartment you can continue to rent as is or rehab them and turn them into nightly or monthly rentals.

18. 2024-06-17
    status Active 225-char remark

    Show marketing remark (225 chars)

    Downtown Historic West Plains. Located just off the square is your opportunity to own income property. A 5-unit multifamily apartment you can continue to rent as is or rehab them and turn them into nightly or monthly rentals.

19. 2024-06-15
    historical 225-char remark

    Show marketing remark (225 chars)

    Downtown Historic West Plains. Located just off the square is your opportunity to own income property. A 5-unit multifamily apartment you can continue to rent as is or rehab them and turn them into nightly or monthly rentals.

20. 2023-10-10
    status Active 225-char remark

    Show marketing remark (225 chars)

    Downtown Historic West Plains. Located just off the square is your opportunity to own income property. A 5-unit multifamily apartment you can continue to rent as is or rehab them and turn them into nightly or monthly rentals.

21. 2023-08-29
    historical 225-char remark

    Show marketing remark (225 chars)

    Downtown Historic West Plains. Located just off the square is your opportunity to own income property. A 5-unit multifamily apartment you can continue to rent as is or rehab them and turn them into nightly or monthly rentals.

22. 2023-07-21
    listed $150,000 Active 225-char remark

    Show marketing remark (225 chars)

    Downtown Historic West Plains. Located just off the square is your opportunity to own income property. A 5-unit multifamily apartment you can continue to rent as is or rehab them and turn them into nightly or monthly rentals.

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 21 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: $45,756
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$3,660
• − Management: −$3,660
• − Depreciation: −$4,364
• Taxable income: $22,669
• Est. tax owed @ 24.0%: −$5,441
• After-tax cash flow: $18,267/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 · 12 photos

Fair 45/100 Moderate rehab

This 5-unit multifamily property requires significant exterior and interior repairs, but presents a good opportunity for renovation and rental value increase.

Repairs flagged

• Major siding — Severe weathering and peeling
• Major paint — Peeling and worn
• Major flooring — Worn and damaged
• Major kitchen appliances — Old and worn
• Major bathroom fixtures — Old and worn

Value-add opportunities

• Both exterior paint and siding — Enhances curb appeal and value
• Both new flooring — Improves living space and value
• Both new kitchen appliances — Modernizes and increases value
• Both new bathroom fixtures — Modernizes and increases value

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Severe weathering and peeling	Major	$15,000–50,000
paint · Peeling and worn	Major	$15,000–50,000
flooring · Worn and damaged	Major	$15,000–50,000
kitchen appliances · Old and worn	Major	$15,000–50,000
bathroom fixtures · Old and worn	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both exterior paint and siding — Enhances curb appeal and value ↑
• Both new flooring — Improves living space and value ↑
• Both new kitchen appliances — Modernizes and increases value ↑
• Both new bathroom fixtures — Modernizes and increases 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: West Plains R-VII
• NCES district ID: 2931680
• Math proficiency: 36% ▼ -5.00%
• Reading proficiency: 46% ▲ 1.00%
• Median HH income: $32,206
• Composite: 33.59/100
• National rank: #5419
• State rank: #152 of 324 in MO

Livability — West Plains

• Score: 77/100
• State rank: #34
• US rank: #2977

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Plains, MO
• Population (ZIP): 24,950

Population outlook (Howell County) Hauer SSP2

• Today (2025): 38,462 people
• By 2030: 37,240 · -3.2%
• By 2040: 34,495 · -10.3%
• By 2050: 31,450 · -18.2%
• By 2075: 23,660 · -38.5%
• By 2100: 16,373 · -57.4%

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 2% Portuguese 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Howell

• 2024 margin: Solid R (+66.8) · D 16.2% · R 83.0%
• 2008→2024 swing: -36.0pp toward R · 2008: -30.8pp · 2024: -66.8pp
• All cycles: 2024: R+66.8 2020: R+64.2 2016: R+63.2 2012: R+43.8 2008: R+30.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.99%
• Current HPI: 228.8763
• 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

8 events — show timeline

• 2024-12-20 Relisted — SOMO
• 2024-09-23 Relisted — SOMO
• 2024-08-27 Pending — SOMO
• 2024-06-17 Relisted — SOMO
• 2024-06-15 Delisted — SOMO
• 2023-10-10 Relisted — SOMO
• 2023-08-29 Delisted — SOMO
• 2023-07-21 Listed $150,000 SOMO