406 W Smallwood · Edina, MO 63537

$60,000

3 bd · 1.0 ba · 1,260 sqft · SingleFamily · 307 Days on market

Built 1930 Fair condition 0.50 ac lot $48/sqft · 43% below area Est $105k · 43% under ↓ 9% since listing

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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 +8.2/10.0
• Schools +3.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

This older 1.5-story home offers 3 bedrooms, 1 full bathroom, and a convenient laundry room on the main level. The attached carport provides shelter for your vehicle or a perfect spot for outdoor entertaining. Situated on six city lots, the property also features an abundance of attic storage—ideal for keeping things organized. With a little TLC, this home could shine as a great first home or a smart investment opportunity. Don't miss the potential this property has to offer! Contact Sheree Prebe at 660.341.2142 or 660. 397.SOLD for a showing today! #Legacy Land and Home

Key facts

• Attached carport
• Laundry room
• Six lots

Tags

• ATTACHED CARPORT
• LAUNDRY ROOM
• ABUNDANCE OF ATTIC STORAGE
• SIX LOTS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $421 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#412 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B+; Watch: amenities F, commute F, employment F.
• Knox County R-I (rural): math 34% / reading 47% proficiency, ranked #154 of 324 in MO (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Knox Co. Elem. (math 32% / reading 42%, grade F, #611 of 1,115 statewide, top 59%, 249 students, 57% FRL); Knox Co. High (math 32% / reading 52%, grade F, #218 of 521 statewide, top 45%, 242 students, 62% FRL) — zoned schools average 60% FRL vs 44% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 13 active listings in the ZIP; 3 units permitted in Knox County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($415 loan paydown + $4k appreciation (6.4% local appreciation)).
• Knox County population projected at -32% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.4% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 307 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $6k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 307 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.76% ✓
• Cap rate: 14.72%
• Cash-on-cash: 30.09%
• DSCR: 2.34
• GRM: 4.7

CMA / ARV

• ARV (median comp): $105,123
• List price: $60,000
• Delta: -42.92%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
509 E Clay St	0.14mi	3/1.5	1,286 (+2%)	23mo	$99,900	$78	69
508 Jackson	0.12mi	2/1.5 (-1)	1,170 (-7%)	11mo	$186,500	$159	66

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

Projected returns pro-forma

6.39% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.5%
• Equity multiple: 3.71×
• Total profit: $45,560
• Equity at exit: $39,199

10-year hold

• IRR: 38.4%
• Equity multiple: 7.71×
• Total profit: $112,701
• Equity at exit: $72,399

Cash invested: $16,800 (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 63537

• Home prices YoY: 3.3%
• Active inventory: 13
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,058 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $421

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 55%

Sensitivity live

Price	-10% $463	-5% $442	+0% $421	+5% $401	+10% $380
Rent	-10% $338	-5% $379	+0% $421	+5% $463	+10% $505
Rate	-1.0pp $451	-0.5pp $437	base $421	+0.5pp $406	+1.0pp $390

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $60,000 Active 307 DOM
2. 2026-06-21
   days on market $60,000 Active 306 DOM
3. 2026-06-18
   days on market $60,000 Active 304 DOM
4. 2026-06-17
   days on market $60,000 Active 303 DOM
5. 2026-06-16
   days on market $60,000 Active 302 DOM
6. 2026-06-15
   days on market $60,000 Active 301 DOM
7. 2026-06-13
   days on market $60,000 Active 299 DOM
8. 2026-06-12
   days on market $60,000 Active 298 DOM
9. 2026-06-09
   days on market $60,000 Active 295 DOM
10. 2026-06-08
    days on market $60,000 Active 294 DOM
11. 2026-06-07
    days on market $60,000 Active 293 DOM
12. 2026-06-07
    days on market $60,000 Active 292 DOM
13. 2026-06-04
    days on market $60,000 Active 289 DOM
14. 2026-06-02
    days on market $60,000 Active 288 DOM
15. 2026-06-01
    days on market $60,000 Active 287 DOM
16. 2026-05-31
    days on market $60,000 Active 286 DOM
17. 2026-03-25
    status Active 583-char remark

    Show marketing remark (583 chars)

    This older 1.5-story home offers 3 bedrooms, 1 full bathroom, and a convenient laundry room on the main level. The attached carport provides shelter for your vehicle or a perfect spot for outdoor entertaining. Situated on six city lots, the property also features an abundance of attic storage—ideal for keeping things organized. With a little TLC, this home could shine as a great first home or a smart investment opportunity. Don't miss the potential this property has to offer! Contact Sheree Prebe at 660.341.2142 or 660. 397.SOLD for a showing today! #Legacy Land and Home

18. 2026-03-12
    status Pending 583-char remark

    Show marketing remark (583 chars)

    This older 1.5-story home offers 3 bedrooms, 1 full bathroom, and a convenient laundry room on the main level. The attached carport provides shelter for your vehicle or a perfect spot for outdoor entertaining. Situated on six city lots, the property also features an abundance of attic storage—ideal for keeping things organized. With a little TLC, this home could shine as a great first home or a smart investment opportunity. Don't miss the potential this property has to offer! Contact Sheree Prebe at 660.341.2142 or 660. 397.SOLD for a showing today! #Legacy Land and Home

19. 2026-03-02
    status Active 583-char remark

    Show marketing remark (583 chars)

    This older 1.5-story home offers 3 bedrooms, 1 full bathroom, and a convenient laundry room on the main level. The attached carport provides shelter for your vehicle or a perfect spot for outdoor entertaining. Situated on six city lots, the property also features an abundance of attic storage—ideal for keeping things organized. With a little TLC, this home could shine as a great first home or a smart investment opportunity. Don't miss the potential this property has to offer! Contact Sheree Prebe at 660.341.2142 or 660. 397.SOLD for a showing today! #Legacy Land and Home

20. 2026-02-24
    status Pending 583-char remark

    Show marketing remark (583 chars)

    This older 1.5-story home offers 3 bedrooms, 1 full bathroom, and a convenient laundry room on the main level. The attached carport provides shelter for your vehicle or a perfect spot for outdoor entertaining. Situated on six city lots, the property also features an abundance of attic storage—ideal for keeping things organized. With a little TLC, this home could shine as a great first home or a smart investment opportunity. Don't miss the potential this property has to offer! Contact Sheree Prebe at 660.341.2142 or 660. 397.SOLD for a showing today! #Legacy Land and Home

21. 2025-09-26
    price $60,000 583-char remark

    Show marketing remark (583 chars)

    This older 1.5-story home offers 3 bedrooms, 1 full bathroom, and a convenient laundry room on the main level. The attached carport provides shelter for your vehicle or a perfect spot for outdoor entertaining. Situated on six city lots, the property also features an abundance of attic storage—ideal for keeping things organized. With a little TLC, this home could shine as a great first home or a smart investment opportunity. Don't miss the potential this property has to offer! Contact Sheree Prebe at 660.341.2142 or 660. 397.SOLD for a showing today! #Legacy Land and Home

22. 2025-07-30
    listed $65,900 Active 583-char remark

    Show marketing remark (583 chars)

    This older 1.5-story home offers 3 bedrooms, 1 full bathroom, and a convenient laundry room on the main level. The attached carport provides shelter for your vehicle or a perfect spot for outdoor entertaining. Situated on six city lots, the property also features an abundance of attic storage—ideal for keeping things organized. With a little TLC, this home could shine as a great first home or a smart investment opportunity. Don't miss the potential this property has to offer! Contact Sheree Prebe at 660.341.2142 or 660. 397.SOLD for a showing today! #Legacy Land and Home

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 16 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: $12,697
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,016
• − Management: −$1,016
• − Depreciation: −$1,745
• Taxable income: $4,359
• Est. tax owed @ 24.0%: −$1,046
• After-tax cash flow: $4,009/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 older 1.5-story home requires moderate renovations to improve its condition and appeal. Key updates include painting, replacing dated fixtures and flooring, and updating the kitchen and bathroom. With these improvements, the property has the potential to become a great first home or investment opportunity.

Repairs flagged

• Moderate kitchen cabinets — Dated and in need of replacement
• Moderate bathroom fixtures — Dated and in need of replacement
• Moderate exterior siding — Weathered and in need of repainting

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal
• Resale Replace carpeted flooring — New flooring improves aesthetics
• Resale Replace kitchen cabinets — Modern cabinets increase appeal
• Resale Replace bathroom fixtures — New fixtures improve functionality and aesthetics
• Resale Paint exterior siding — Fresh paint enhances curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Dated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · Dated and in need of replacement	Moderate	$3,000–15,000
exterior siding · Weathered and in need of repainting	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint enhances curb appeal ↑
• Resale Replace carpeted flooring — New flooring improves aesthetics ↑
• Resale Replace kitchen cabinets — Modern cabinets increase appeal ↑
• Resale Replace bathroom fixtures — New fixtures improve functionality and aesthetics ↑
• Resale Paint exterior siding — Fresh paint enhances curb appeal ↑

ⓘ 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: Knox County R-I
• NCES district ID: 2911280
• Math proficiency: 34% ▼ -9.00%
• Reading proficiency: 47% ▲ 3.00%
• Median HH income: $35,777
• Composite: 33.5/100
• National rank: #5441
• State rank: #154 of 324 in MO

Livability — Edina

• Score: 61/100
• State rank: #412
• US rank: #17353

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edina, MO
• Population (ZIP): 2,331

Population outlook (Knox County) Hauer SSP2

• Today (2025): 3,387 people
• By 2030: 3,136 · -7.4%
• By 2040: 2,686 · -20.7%
• By 2050: 2,292 · -32.3%
• By 2075: 1,581 · -53.3%
• By 2100: 1,027 · -69.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Pacific Islander 3% Two or more races 2%
• Common ancestry: Lithuanian 3% Scottish 3% Italian 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Knox

• 2024 margin: Solid R (+64.5) · D 17.2% · R 81.7% · Other 1.1%
• 2008→2024 swing: -42.2pp toward R · 2008: -22.4pp · 2024: -64.5pp
• All cycles: 2024: R+64.5 2020: R+61.8 2016: R+55.4 2012: R+25.9 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.39%
• Current HPI: 198.8758
• 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

-9.0% since first listed

6 events — show timeline

• 2026-03-25 Relisted — NECAR
• 2026-03-12 Pending — NECAR
• 2026-03-02 Relisted — NECAR
• 2026-02-24 Pending — NECAR
• 2025-09-26 Price Changed $60,000 NECAR
• 2025-07-30 Listed $65,900 NECAR