307 W 7th St · Salem, MO 65560

$74,995

2 bd · None ba · 1,551 sqft · MultiFamily public records · 27 Days on market

Built 1965 5,000 sqft lot $48/sqft · 25% below area Est $100k · 25% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.8/10.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks MLS

2 unit apartment building - each unit has range and oven plus the refrigerator. Each unit has 2 each window A/C and forced air furnace with natural gas - each unit has W/D hook-up in the basement. Full basement with garage. Presently renting for $350 a month each. In town and close to markets and shopping areas.

Key facts

• Full basement
• Two car garage
• 5,000 sq ft lot

Tags

• FULL BASEMENT
• TWO CAR GARAGE
• CENTRAL HEATING SYSTEM
• WINDOW UNIT AIR CONDITIONING

Property features AI

Finance

• Financial info: Annual tax amount reported

Exterior

• Parking: 2-car garage
• Home design: Residential income property; Multi-unit (2–4 units)
• Construction: Frame construction
• Exterior features: Approximately 0.11 acre lot

Interior

• Bedrooms: No main or upper level bedrooms reported
• Bathrooms: No main or upper level bathrooms reported
• Heating & cooling: Wall/window unit(s) for cooling
• Interior features: Wall/window air conditioning units

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $75k.

Deal economics

• At list price, monthly cash flow is $653 ($8k/yr) — positive. Per door: $327/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.7% vs local median 2.7% in Salem — 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 69/100 on livability (#157 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B; Watch: amenities C-, commute F, employment F.
• Salem R-80 (town): math 25% / reading 41% proficiency, ranked #253 of 324 in MO (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Salem Upper Elem. (math 28% / reading 40%, grade F, #739 of 1,115 statewide, top 67%, 336 students, 62% FRL); Salem Sr. High (math 8% / reading 47%, grade F, #417 of 521 statewide, top 80%, 616 students, 46% FRL).
• Market conditions: 169 active listings in the ZIP; 3 units permitted in Dent County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($518 loan paydown + $4k appreciation (5.7% local appreciation)).
• Dent County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.7% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y 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

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $73,870 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.88% ✓
• Cap rate: 16.75%
• Cash-on-cash: 37.34%
• DSCR: 2.66
• GRM: 4.4

CMA / ARV

• ARV (median comp): $99,599
• List price: $74,995
• Delta: -24.70%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

5.66% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 46.8%
• Equity multiple: 3.94×
• Total profit: $61,729
• Equity at exit: $45,524

10-year hold

• IRR: 44.1%
• Equity multiple: 8.11×
• Total profit: $149,399
• Equity at exit: $81,191

Cash invested: $20,999 (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 65560

• Home prices YoY: 2.4%
• Active inventory: 169
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,413 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$38 /mo · $461/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $653

Break-even live

Break-even rent $586

Max offer price $74,995

Occupancy floor 49%

Sensitivity live

Price	-10% $696	-5% $675	+0% $653	+5% $632	+10% $611
Rent	-10% $542	-5% $598	+0% $653	+5% $709	+10% $765
Rate	-1.0pp $691	-0.5pp $672	base $653	+0.5pp $634	+1.0pp $614

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,412
Total (2 units)			$1,413

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: $18,749
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $74,995 Active 27 DOM
2. 2026-06-18
   days on market $74,995 Active 25 DOM
3. 2026-06-17
   days on market $74,995 Active 24 DOM
4. 2026-06-16
   days on market $74,995 Active 23 DOM
5. 2026-06-15
   days on market $74,995 Active 22 DOM
6. 2026-06-13
   days on market $74,995 Active 20 DOM
7. 2026-06-12
   days on market $74,995 Active 19 DOM
8. 2026-06-09
   days on market $74,995 Active 16 DOM
9. 2026-06-08
   days on market $74,995 Active 15 DOM
10. 2026-06-07
    days on market $74,995 Active 14 DOM
11. 2026-06-07
    status $74,995 Active 13 DOM
12. 2026-05-16
    status Pending 677-char remark
13. 2026-05-09
    status Active 677-char remark
14. 2026-05-01
    status Pending 677-char remark
15. 2026-04-25
    listed $74,995 Active 677-char remark
16. 2016-07-08
    soldstatus Closed 317-char remark

    Show marketing remark (314 chars)

    2 unit apartment building - each unit has range and oven plus the refrigerator. Each unit has 2 each window A/C and forced air furnace with natural gas - each unit has W/ D hook-up in the basement. Full basement with garage. Presently renting for $350 a month each. In town and close to markets and shopping areas.

17. 2016-07-08
    soldstatus

    Show marketing remark (314 chars)

    2 unit apartment building - each unit has range and oven plus the refrigerator. Each unit has 2 each window A/C and forced air furnace with natural gas - each unit has W/ D hook-up in the basement. Full basement with garage. Presently renting for $350 a month each. In town and close to markets and shopping areas.

18. 2016-06-22
    status Pending 317-char remark

    Show marketing remark (317 chars)

    2 unit apartment building - each unit has range and oven plus the refrigerator. Each unit has 2 each window A/C and forced air furnace with natural gas - each unit has W/D hook-up in the basement. Full basement with garage. Presently renting for $350 a month each. In town and close to markets and shopping areas.

19. 2016-06-08
    historical 317-char remark

    Show marketing remark (317 chars)

    2 unit apartment building - each unit has range and oven plus the refrigerator. Each unit has 2 each window A/C and forced air furnace with natural gas - each unit has W/D hook-up in the basement. Full basement with garage. Presently renting for $350 a month each. In town and close to markets and shopping areas.

20. 2016-05-16
    listed $52,500 Active 317-char remark

    Show marketing remark (314 chars)

    2 unit apartment building - each unit has range and oven plus the refrigerator. Each unit has 2 each window A/C and forced air furnace with natural gas - each unit has W/ D hook-up in the basement. Full basement with garage. Presently renting for $350 a month each. In town and close to markets and shopping areas.

21. 2016-05-16
    listed $52,500

    Show marketing remark (314 chars)

    2 unit apartment building - each unit has range and oven plus the refrigerator. Each unit has 2 each window A/C and forced air furnace with natural gas - each unit has W/ D hook-up in the basement. Full basement with garage. Presently renting for $350 a month each. In town and close to markets and shopping areas.

22. 2004-12-01
    soldstatus

ⓘ 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: $461 · $38/mo
• Projected year-2 tax: $727 · $61/mo
• Expected delta: +$267/yr (+$22/mo · 57.9%)

ⓘ 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 · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $16,956
• − Mortgage interest: −$4,201
• − Property taxes: −$461
• − Insurance: −$375
• − Repairs & maintenance: −$1,356
• − Management: −$1,356
• − Depreciation: −$2,182
• Taxable income: $7,025
• Est. tax owed @ 24.0%: −$1,686
• After-tax cash flow: $6,154/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: Salem R-80
• NCES district ID: 2927090
• Math proficiency: 25% ▼ -6.00%
• Reading proficiency: 41% ▼ -2.00%
• Median HH income: $32,306
• Composite: 26.94/100
• National rank: #7082
• State rank: #253 of 324 in MO

Livability — Salem

• Score: 69/100
• State rank: #157
• US rank: #8725

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salem, MO
• Population (ZIP): 13,634

Population outlook (Dent County) Hauer SSP2

• Today (2025): 15,149 people
• By 2030: 14,734 · -2.7%
• By 2040: 13,862 · -8.5%
• By 2050: 12,959 · -14.5%
• By 2075: 11,217 · -26.0%
• By 2100: 9,399 · -38.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 2% · China

Political lean MEDSL · Dent

• 2024 margin: Solid R (+70.2) · D 14.4% · R 84.7%
• 2008→2024 swing: -32.4pp toward R · 2008: -37.8pp · 2024: -70.2pp
• All cycles: 2024: R+70.2 2020: R+69.0 2016: R+68.2 2012: R+49.6 2008: R+37.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.66%
• Current HPI: 238.9175
• 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

+42.8% since first listed

12 events — show timeline

• 2026-06-06 Relisted — MARIS as Distributed by MLS Grid
• 2026-05-16 Pending — MARIS as Distributed by MLS Grid
• 2026-05-09 Relisted — MARIS as Distributed by MLS Grid
• 2026-05-01 Pending — MARIS as Distributed by MLS Grid
• 2026-04-25 Listed $74,995 MARIS as Distributed by MLS Grid
• 2016-07-08 Sold (MLS) — SOMO
• 2016-07-08 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2016-06-22 Pending — MARIS as Distributed by MLS Grid
• 2016-06-08 Delisted — MARIS as Distributed by MLS Grid
• 2016-05-16 Listed $52,500 MARIS as Distributed by MLS Grid
• 2016-05-16 Listed $52,500 SOMO
• 2004-12-01 Sold (Public Records) — Public Records

Property tax history

+0.6%/yr

Latest (2025): $461 · +4.9% YoY. Source: county tax records.