728 Grand Ave · Fulton, MO 65251

$39,000

2 bd · 1.0 ba · 1,101 sqft · SingleFamily public records · 12 Days on market

Built 1935 10,558 sqft lot $35/sqft · 73% below area

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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 +7.5/15.0
• Livability +3.6/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home interior has been demo-ed and is ready for finish work to begin. Stay with the original floor plan and you will have 2 bedrooms, 1 bathroom, living room, dining area, kitchen and area to the rear for utilities and storage. Home is on a basement with previous stabilization repairs. Additional lot to the rear has a 1 car garage, that is also in need of repair. New windows and exterior doors are in place, and exterior siding is in good condition. Home will need new shingles on the roof and repair to at least some of the roof structure. Property is strictly sold ''AS IS''

Key facts

• Exterior siding
• Exterior doors
• Additional lot

Tags

• ORIGINAL FLOOR PLAN
• BASEMENT STABILIZATION REPAIRS
• NEW WINDOWS
• EXTERIOR DOORS
• EXTERIOR SIDING
• ADDITIONAL LOT

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water
• Home design: Single-family residence; Residential property; Faces west
• Construction: Composition roof; R-1 one-family dwelling zoning
• Exterior features: Front porch; Cleared lot; Paved road access; Lot dimensions approximately 62 x 75 (0.24 acres)

Interior

• Bedrooms: 1 total room
• Bathrooms: 1 full bathroom
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $39k.

Deal economics

• At list price, monthly cash flow is $520 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($998 rent vs $39k).
• Cap rate 22.3% vs local median 3.9% in Fulton — 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 71/100 on livability (#115 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment D-.
• Fulton 58 (town): math 36% / reading 42% proficiency, ranked #158 of 324 in MO (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fulton Early Childhood Cntr (100 students, 59% FRL); Fulton Middle (math 36% / reading 37%, grade F, #231 of 391 statewide, top 60%, 498 students, 39% FRL); Fulton Sr. High (math 32% / reading 42%, grade F, #291 of 521 statewide, top 60%, 678 students, 33% FRL) — zoned schools at 44% FRL track the district average.
• Market conditions: 137 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40 units permitted in Callaway County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $270 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,000

Questions for the listing agent

1. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.56% ✓
• Cap rate: 22.29%
• Cash-on-cash: 57.15%
• DSCR: 3.54
• GRM: 3.3

CMA / ARV

• ARV (median comp): $144,116
• List price: $39,000
• Delta: -72.94%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
728 Grand Ave	0.00mi	2/1.0	1,101 (0%)	1mo	$39,000	$35	100
805 State St	0.15mi	3/2.0 (+1)	1,104 (+0%)	7mo	$235,000	$213	78
712 Jefferson St	0.39mi	2/1.0	1,121 (+2%)	13mo	$90,000	$80	68
408 NE 8th St	0.11mi	3/2.0 (+1)	1,144 (+4%)	16mo	$230,000	$201	66
910 Grand St	0.23mi	2/1.0	978 (-11%)	10mo	$99,900	$102	62
107 Saults St	0.42mi	3/1.0 (+1)	1,020 (-7%)	10mo	$135,000	$132	55
321 W 8th St	0.56mi	2/2.0	1,080 (-2%)	15mo	$69,000	$64	54
910 Nichols St	0.39mi	3/1.5 (+1)	1,036 (-6%)	16mo	$165,000	$159	52
817 Kay Dr	0.66mi	2/1.0	970 (-12%)	1mo	$159,500	$164	48
903 Vine St	0.24mi	3/1.5 (+1)	1,243 (+13%)	17mo	$132,500	$107	46
403 E First St	0.58mi	1/1.0 (-1)	1,000 (-9%)	14mo	$140,000	$140	41
402 W 9th St	0.67mi	3/1.0 (+1)	936 (-15%)	10mo	$145,000	$155	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 55.6%
• Equity multiple: 3.46×
• Total profit: $26,817
• Equity at exit: $5,815

10-year hold

• IRR: 60.6%
• Equity multiple: 7.05×
• Total profit: $66,060
• Equity at exit: $3,372

Cash invested: $10,920 (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 65251

• Active inventory: 137
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $998 medium
• Mortgage (P&I): −$205
• Tax from tax record: −$48 /mo · $572/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $520

Break-even live

Break-even rent $340

Max offer price $39,000

Occupancy floor 43%

Sensitivity live

Price	-10% $542	-5% $531	+0% $520	+5% $509	+10% $498
Rent	-10% $441	-5% $481	+0% $520	+5% $559	+10% $599
Rate	-1.0pp $540	-0.5pp $530	base $520	+0.5pp $510	+1.0pp $500

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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
803 Court St Unit D Fulton, MO	1.0	1.0	820	$755	$0.92	46d	1	0.27mi
103 E 10th St Fulton, MO	2.0	1.5	850	$815	$0.96	15d	1	0.30mi
301 W 14th St Fulton, MO	3.0	1.0	1240	$1,500	$1.21	15d	1	0.74mi
501 Stack Rd Fulton, MO	3.0	1.5	1200	$1,275	$1.06	23d	1	1.35mi

Listing history 2 events

1. 2026-05-06
   status Pending 579-char remark

   Show marketing remark (579 chars)

   Home interior has been demo-ed and is ready for finish work to begin. Stay with the original floor plan and you will have 2 bedrooms, 1 bathroom, living room, dining area, kitchen and area to the rear for utilities and storage. Home is on a basement with previous stabilization repairs. Additional lot to the rear has a 1 car garage, that is also in need of repair. New windows and exterior doors are in place, and exterior siding is in good condition. Home will need new shingles on the roof and repair to at least some of the roof structure. Property is strictly sold ''AS IS''

2. 2026-04-24
   listed $39,000 Active 579-char remark

   Show marketing remark (579 chars)

   Home interior has been demo-ed and is ready for finish work to begin. Stay with the original floor plan and you will have 2 bedrooms, 1 bathroom, living room, dining area, kitchen and area to the rear for utilities and storage. Home is on a basement with previous stabilization repairs. Additional lot to the rear has a 1 car garage, that is also in need of repair. New windows and exterior doors are in place, and exterior siding is in good condition. Home will need new shingles on the roof and repair to at least some of the roof structure. Property is strictly sold ''AS IS''

ⓘ 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: $572 · $48/mo
• Projected year-2 tax: $572 · $48/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 4/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,976
• − Mortgage interest: −$2,185
• − Property taxes: −$572
• − Insurance: −$195
• − Repairs & maintenance: −$958
• − Management: −$958
• − Depreciation: −$1,135
• Taxable income: $5,974
• Est. tax owed @ 24.0%: −$1,434
• After-tax cash flow: $4,807/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: Fulton 58
• NCES district ID: 2912550
• Math proficiency: 36% ▼ -1.00%
• Reading proficiency: 42% ▼ -4.00%
• Median HH income: $46,431
• Composite: 33.31/100
• National rank: #5504
• State rank: #158 of 324 in MO

Livability — Fulton

• Score: 71/100
• State rank: #115
• US rank: #7204

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: Fulton, MO
• County: Callaway County · 22,579 people
• City population: 22,579
• Metro: Jefferson City, MO
• Population (ZIP): 22,579
• Household income: $63,072
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 551.0

Population outlook (Callaway County) Hauer SSP2

• Today (2025): 45,390 people
• By 2030: 45,493 · +0.2%
• By 2040: 45,092 · -0.7%
• By 2050: 44,069 · -2.9%
• By 2075: 41,875 · -7.7%
• By 2100: 38,094 · -16.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 6% Black 5% Hispanic / Latino 3%
• Common ancestry: Italian 5% Lithuanian 3% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Callaway

• 2024 margin: Solid R (+43.3) · D 27.6% · R 70.9% · Other 1.5%
• 2008→2024 swing: -23.6pp toward R · 2008: -19.7pp · 2024: -43.3pp
• All cycles: 2024: R+43.3 2020: R+42.3 2016: R+42.2 2012: R+31.1 2008: R+19.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.33%
• Current HPI: 205.5205
• Rent YoY: —
• Metro: Jefferson City, 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

+0.0% since first listed

6 events — show timeline

• 2026-06-04 Sold (MLS) — HMMLS
• 2026-06-03 Sold (MLS) — CBORMLS
• 2026-05-06 Delisted — HMMLS
• 2026-05-06 Pending — CBORMLS
• 2026-04-24 Listed $39,000 CBORMLS
• 2026-04-24 Listed $39,000 HMMLS

Property tax history

+7.1%/yr

Latest (2025): $572 · -84.4% YoY. Source: county tax records.