17614 Elwood Junction Rd · Neosho, MO 64850

$325,000

2 bd · 5.0 ba · 2,184 sqft · Townhouse public records · 24 Days on market

Built 1967 0.47 ac lot ↓ 7% since listing

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Schools +3.5/10.0
• Cash flow +3.2/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

5 unit Apartment complex outside of Neosho near Hwy 59 for easy commuting. Located down a dead end road. Combined rent of $3250 monthly. All units metered separately for electric plus well unit (6 total). Landlord pays water and trash on all units. 3 units set up on HUD payments. Great income opportunity. All units currently rented. Lot is nearly half an acre. Unit 4 is 3 BD, all other units are 1BD 1BA.

Key facts

• Built 1967
• Listed 23 days

Property features AI

Finance

• Financial info: Annual tax noted

Exterior

• Utilities: Septic tank
• Home design: Residential income property (apartment)
• Construction: Metal roof
• Exterior features: No fencing; Lot dimensions approximately 172 x 107 x 120 x 195

Interior

• Flooring: Carpet; Vinyl
• Heating & cooling: Central heating (electric); Wall unit cooling
• Interior features: Carpet and vinyl flooring

What this means for you Summary

Snapshot

• This is a 2-bed/5.0-bath townhouse listed at $325k.

Deal economics

• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (55.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (64.1% below list).
• Recommended offer: $117k (64.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#103 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, employment D, amenities F.
• Neosho School District (town): math 36% / reading 48% proficiency, ranked #125 of 324 in MO (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 199 active listings in the ZIP; 110 units permitted in Newton County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Newton County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,818 (64.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1967 — 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 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?
5. 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?
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 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: 0.36% ✗
• Cap rate: 2.53%
• Cash-on-cash: -13.45%
• DSCR: 0.40
• GRM: 23.2

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: -41.7%
• Equity multiple: -0.29×
• Total profit: $-117,778
• Equity at exit: $48,459

10-year hold

• IRR: -70.8%
• Equity multiple: -1.05×
• Total profit: $-186,871
• Equity at exit: $28,100

Cash invested: $91,000 (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 64850

• Home prices YoY: -5.1%
• Active inventory: 199
• Price-to-rent: 23.2×

Monthly cashflow live

• Estimated rent: $1,168 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$103 /mo · $1,234/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $-1,020

Break-even live

Break-even rent $2,459

Max offer price $144,867

Occupancy floor —

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $325,000 Active 24 DOM
2. 2026-06-18
   days on market $325,000 Active 23 DOM
3. 2026-06-17
   days on market $325,000 Active 22 DOM
4. 2026-06-16
   days on market $325,000 Active 21 DOM
5. 2026-06-15
   days on market $325,000 Active 20 DOM
6. 2026-06-14
   days on market $325,000 Active 18 DOM
7. 2026-06-13
   days on market $325,000 Active 17 DOM
8. 2026-06-10
   days on market $325,000 Active 15 DOM
9. 2026-06-09
   days on market $325,000 Active 14 DOM
10. 2026-06-08
    days on market $325,000 Active 13 DOM
11. 2026-06-07
    days on market $325,000 Active 12 DOM
12. 2026-06-05
    days on market $325,000 Active 9 DOM
13. 2026-06-02
    days on market $325,000 Active 7 DOM
14. 2026-06-01
    days on market $325,000 Active 6 DOM
15. 2026-05-31
    days on market $325,000 Active 5 DOM
16. 2026-05-30
    days on market $325,000 Active 4 DOM
17. 2026-05-27
    listed $325,000 Active 407-char remark

    Show marketing remark (407 chars)

    5 unit Apartment complex outside of Neosho near Hwy 59 for easy commuting. Located down a dead end road. Combined rent of $3250 monthly. All units metered separately for electric plus well unit (6 total). Landlord pays water and trash on all units. 3 units set up on HUD payments. Great income opportunity. All units currently rented. Lot is nearly half an acre. Unit 4 is 3 BD, all other units are 1BD 1BA.

18. 2026-05-27
    listed $325,000 Active

    Show marketing remark (407 chars)

    5 unit Apartment complex outside of Neosho near Hwy 59 for easy commuting. Located down a dead end road. Combined rent of $3250 monthly. All units metered separately for electric plus well unit (6 total). Landlord pays water and trash on all units. 3 units set up on HUD payments. Great income opportunity. All units currently rented. Lot is nearly half an acre. Unit 4 is 3 BD, all other units are 1BD 1BA.

19. 2025-01-28
    listed $309,500 Active
20. 2024-11-22
    price $319,500
21. 2024-11-22
    price $319,500
22. 2024-09-19
    listed $350,000 Active
23. 2020-01-15
    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: $1,234 · $103/mo
• Projected year-2 tax: $3,152 · $263/mo
• Expected delta: +$1,919/yr (+$160/mo · 155.5%)

ⓘ 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 6/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,018
• − Mortgage interest: −$18,205
• − Property taxes: −$1,234
• − Insurance: −$1,625
• − Repairs & maintenance: −$1,121
• − Management: −$1,121
• − Depreciation: −$9,455
• Taxable loss: −$18,743
• Est. tax savings @ 24.0%: +$4,498
• After-tax cash flow: $-7,738/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: Neosho School District
• NCES district ID: 2921810
• Math proficiency: 36% ▬ 0.00%
• Reading proficiency: 48% ▲ 2.00%
• Median HH income: $40,574
• Composite: 35.21/100
• National rank: #4987
• State rank: #125 of 324 in MO

Livability — Neosho

• Score: 71/100
• State rank: #103
• US rank: #6875

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 25,355

Population outlook (Newton County) Hauer SSP2

• Today (2025): 59,151 people
• By 2030: 58,961 · -0.3%
• By 2040: 57,609 · -2.6%
• By 2050: 54,775 · -7.4%
• By 2075: 46,140 · -22.0%
• By 2100: 34,348 · -41.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 12% Hispanic / Latino 9% Pacific Islander 2% Native American 2% Asian 2% Black 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Italian 1% Scottish 1%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 6% Other Asian/Pacific 3%

Political lean MEDSL · Newton

• 2024 margin: Solid R (+58.6) · D 20.2% · R 78.8% · Other 1.0%
• 2008→2024 swing: -18.5pp toward R · 2008: -40.1pp · 2024: -58.6pp
• All cycles: 2024: R+58.6 2020: R+57.4 2016: R+58.7 2012: R+46.9 2008: R+40.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.98%
• Current HPI: 295.9911
• 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

-7.1% since first listed

7 events — show timeline

• 2026-05-27 Listed $325,000 SOMO
• 2026-05-27 Listed $325,000 OGAR
• 2025-01-28 Listed $309,500 SOMO
• 2024-11-22 Price Changed $319,500 OGAR
• 2024-11-22 Price Changed $319,500 SOMO
• 2024-09-19 Listed $350,000 SOMO
• 2020-01-15 Sold (Public Records) — Public Records

Property tax history

+1.7%/yr

Latest (2025): $1,234 · +0.2% YoY. Source: county tax records.