119 Topeka · Elmer, MO 63538

$115,000

2 bd · 1.0 ba · 1,036 sqft · Other public records · 33 Days on market

Built 1890 0.50 ac lot

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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 +15.8/30.0
• ARV discount +7.5/15.0
• Schools +5.9/10.0
• Appreciation +5.0/10.0
• DSCR +4.9/10.0
• 1% rule +3.1/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Discover this charming 4-bedroom, 1-bath home situated on a spacious . 5-acre city lot in Elmer, Missouri. This historic bungalow has been thoughtfully updated and features two newly added bedrooms on the second floor, added insulation and new heat and A/C in 2022. Also equipped with an all-new pex water lines, Generac generator, and a 20x30 fenced pet yard. The property boasts a beautiful flower garden, creating a serene outdoor space to enjoy. With its blend of classic character and modern conveniences, this home offers plenty of room and potential for all your needs. Don't miss the chance to make this lovely bungalow your own! Book your showing today! For more information contact the listing agent, Elizabeth Gregory, eXp Realty, 660.342.3418, www. gregorylandgro

Key facts

• 0.5 acre lot
• Built 1890
• Listed 32 days

Property features AI

Finance

• Other: Private ownership; Lease not considered
• HOA & community: Community includes park and playground; Seller may consider concessions

Exterior

• Parking: Driveway access (city street frontage)
• Security: Storm door(s)
• Utilities: Public water; Septic tank sewer; Electricity connected (220 volts); Cable available; Propane leased
• Home design: Single family residence; House with two levels; Updated/remodeled
• Construction: Vinyl siding; Composition roof
• Exterior features: Covered front porch; Entry steps/stairs; Exterior lighting; Private yard; No fencing

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Refrigerator; Kitchen facilities
• Bedrooms: 4 bedrooms total; 2 bedrooms on the main level; 2 bedrooms on the upper level
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom (main/upper levels)
• Heating & cooling: Forced air heating; Natural gas and propane heating options; Central air conditioning
• Interior features: Insulated windows; Tilt-in windows; Entry lighting; Fiber optic available; Updated/remodeled condition
• Laundry & utility: Propane (leased) available

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $115k.

Deal economics

• At list price, monthly cash flow is $53 ($641/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $93k (19.3% below list).
• Recommended offer: $93k (19.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 55/100 on livability (#747 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Atlanta C-3 (rural): math 70% / reading 70% proficiency, ranked #10 of 535 in MO (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Atlanta Elem. (math 74% / reading 54%, grade B, #70 of 1,115 statewide, top 8%, 106 students, 42% FRL); Atlanta High (math 47% / reading 54%, grade D+, #112 of 521 statewide, top 22%, 97 students, 38% FRL).
• Zoned-school proficiency averages 58% at this address vs 70% district-wide (-12 pts) — the specific schools serving this property underperform the Atlanta C-3 average; the district grade overstates school quality for this exact location.
• Market conditions: 2 active listings in the ZIP; 26 units permitted in Macon County in 2024 (19 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($795 loan paydown + $3k appreciation (3.0% local appreciation)).
• Macon County population projected at -17% 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 $32k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, 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 33 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 4 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 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $92,859 (19.3% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — 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. Crime grade is F 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: 0.81% ✗
• Cap rate: 6.85%
• Cash-on-cash: 1.99%
• DSCR: 1.09
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 9.3%
• Equity multiple: 1.53×
• Total profit: $17,200
• Equity at exit: $51,709

10-year hold

• IRR: 11.7%
• Equity multiple: 2.75×
• Total profit: $56,401
• Equity at exit: $79,690

Cash invested: $32,200 (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 63538

• Active inventory: 2
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $929 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$29 /mo · $350/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $53

Break-even live

Break-even rent $861

Max offer price $115,000

Occupancy floor 89%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-01
   days on market $115,000 Active 33 DOM
2. 2026-05-31
   days on market $115,000 Active 32 DOM
3. 2026-04-30
   listed $115,000 Active
4. 2026-04-21
   historical $115,000
5. 2026-04-17
   listed $115,000 Active 776-char remark

   Show marketing remark (776 chars)

   Discover this charming 4-bedroom, 1-bath home situated on a spacious . 5-acre city lot in Elmer, Missouri. This historic bungalow has been thoughtfully updated and features two newly added bedrooms on the second floor, added insulation and new heat and A/C in 2022. Also equipped with an all-new pex water lines, Generac generator, and a 20x30 fenced pet yard. The property boasts a beautiful flower garden, creating a serene outdoor space to enjoy. With its blend of classic character and modern conveniences, this home offers plenty of room and potential for all your needs. Don't miss the chance to make this lovely bungalow your own! Book your showing today! For more information contact the listing agent, Elizabeth Gregory, eXp Realty, 660.342.3418, www. gregorylandgro

6. 2026-04-17
   listed $115,000 Active

   Show marketing remark (776 chars)

   Discover this charming 4-bedroom, 1-bath home situated on a spacious . 5-acre city lot in Elmer, Missouri. This historic bungalow has been thoughtfully updated and features two newly added bedrooms on the second floor, added insulation and new heat and A/C in 2022. Also equipped with an all-new pex water lines, Generac generator, and a 20x30 fenced pet yard. The property boasts a beautiful flower garden, creating a serene outdoor space to enjoy. With its blend of classic character and modern conveniences, this home offers plenty of room and potential for all your needs. Don't miss the chance to make this lovely bungalow your own! Book your showing today! For more information contact the listing agent, Elizabeth Gregory, eXp Realty, 660.342.3418, www. gregorylandgro

7. 2026-04-16
   historical $115,000
8. 2026-04-15
   listed $115,000 Active
9. 2026-04-02
   historical $115,000

ⓘ 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: $350 · $29/mo
• Projected year-2 tax: $1,116 · $93/mo
• Expected delta: +$765/yr (+$64/mo · 218.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,143
• − Mortgage interest: −$6,442
• − Property taxes: −$350
• − Insurance: −$575
• − Repairs & maintenance: −$891
• − Management: −$891
• − Depreciation: −$3,345
• Taxable loss: −$1,352
• Est. tax savings @ 24.0%: +$325
• After-tax cash flow: $966/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: Atlanta C-3
• NCES district ID: 2903480
• Math proficiency: 70% ▲ 5.00%
• Reading proficiency: 70% ▬ 0.00%
• Median HH income: $38,082
• Composite: 59.43/100
• National rank: #1896
• State rank: #10 of 535 in MO

Livability — Elmer

• Score: 55/100
• State rank: #747
• US rank: #23391

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elmer, MO
• Population (ZIP): 133

Population outlook (Macon County) Hauer SSP2

• Today (2025): 14,692 people
• By 2030: 14,209 · -3.3%
• By 2040: 13,197 · -10.2%
• By 2050: 12,160 · -17.2%
• By 2075: 9,745 · -33.7%
• By 2100: 7,314 · -50.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 8% Black 5%
• Common ancestry: Iranian 2% Scotch-Irish 2% Serbian 2%
• Foreign-born: 5%
• Languages at home: 93% English-only · German/W. Germanic 1%

Political lean MEDSL · Macon

• 2024 margin: Solid R (+61.5) · D 18.9% · R 80.4%
• 2008→2024 swing: -37.4pp toward R · 2008: -24.1pp · 2024: -61.5pp
• All cycles: 2024: R+61.5 2020: R+56.3 2016: R+56.4 2012: R+33.4 2008: R+24.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+0.0% since first listed

7 events — show timeline

• 2026-04-30 Listed $115,000 MARIS as Distributed by MLS Grid
• 2026-04-21 Coming Soon $115,000 MARIS as Distributed by MLS Grid
• 2026-04-17 Listed $115,000 NECAR
• 2026-04-17 Listed $115,000 MARIS as Distributed by MLS Grid
• 2026-04-16 Coming Soon $115,000 MARIS as Distributed by MLS Grid
• 2026-04-15 Listed $115,000 MARIS as Distributed by MLS Grid
• 2026-04-02 Coming Soon $115,000 MARIS as Distributed by MLS Grid

Property tax history

+9.0%/yr

Latest (2025): $350 · +11.6% YoY. Source: county tax records.