33739 State Hwy U · Martinsburg, MO 65264

$55,000

2 bd · 1.0 ba · 1,476 sqft · Other public records · 90 Days on market

Built 1880 1.90 ac lot ↓ 33% since listing

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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
• Appreciation +7.1/10.0
• Schools +3.0/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Secluded and off of the beaten path, this historic home sitting on 1.9 acres is waiting for someone to put their touch on it, or tear down and build your dream home on the lot. other features include a machine shed with electric. Call today to schedule your showing

Key facts

• Historic home
• 1.9 acre lot
• Built 1880

Tags

• HISTORIC HOME
• MACHINE SHED WITH ELECTRIC

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $55k.

Deal economics

• At list price, monthly cash flow is $471 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 54/100 on livability (#792 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Community R-VI (rural): math 25% / reading 40% proficiency, ranked #424 of 535 in MO (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 3 active listings in the ZIP; 27 units permitted in Audrain County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($380 loan paydown + $2k appreciation (4.2% local appreciation)).
• Audrain County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 3 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 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.86% ✓
• Cap rate: 16.58%
• Cash-on-cash: 36.73%
• DSCR: 2.63
• GRM: 4.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 44.1%
• Equity multiple: 3.61×
• Total profit: $40,203
• Equity at exit: $28,529

10-year hold

• IRR: 42.8%
• Equity multiple: 7.29×
• Total profit: $96,855
• Equity at exit: $47,181

Cash invested: $15,400 (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 65264

• Home prices YoY: 2.2%
• Active inventory: 3
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,021 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$24 /mo · $283/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $471

Break-even live

Break-even rent $424

Max offer price $55,000

Occupancy floor 49%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $55,000 Active 90 DOM
2. 2026-06-17
   days on market $55,000 Active 89 DOM
3. 2026-06-16
   days on market $55,000 Active 88 DOM
4. 2026-06-15
   days on market $55,000 Active 87 DOM
5. 2026-06-13
   days on market $55,000 Active 85 DOM
6. 2026-06-12
   days on market $55,000 Active 84 DOM
7. 2026-06-09
   days on market $55,000 Active 81 DOM
8. 2026-06-08
   days on market $55,000 Active 80 DOM
9. 2026-06-07
   days on market $55,000 Active 79 DOM
10. 2026-06-05
    days on market $55,000 Active 77 DOM
11. 2026-06-04
    days on market $55,000 Active 75 DOM
12. 2026-06-02
    days on market $55,000 Active 74 DOM
13. 2026-06-01
    days on market $55,000 Active 73 DOM
14. 2026-05-31
    days on market $55,000 Active 72 DOM
15. 2026-05-13
    status Active 265-char remark

    Show marketing remark (265 chars)

    Secluded and off of the beaten path, this historic home sitting on 1.9 acres is waiting for someone to put their touch on it, or tear down and build your dream home on the lot. other features include a machine shed with electric. Call today to schedule your showing

16. 2026-03-29
    historical 265-char remark

    Show marketing remark (265 chars)

    Secluded and off of the beaten path, this historic home sitting on 1.9 acres is waiting for someone to put their touch on it, or tear down and build your dream home on the lot. other features include a machine shed with electric. Call today to schedule your showing

17. 2026-02-03
    listed $55,000 Active 265-char remark

    Show marketing remark (265 chars)

    Secluded and off of the beaten path, this historic home sitting on 1.9 acres is waiting for someone to put their touch on it, or tear down and build your dream home on the lot. other features include a machine shed with electric. Call today to schedule your showing

18. 2025-12-03
    price $55,000
19. 2025-10-15
    price $72,000
20. 2025-07-27
    listed $82,000 Active
21. 2015-11-24
    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: $283 · $24/mo
• Projected year-2 tax: $534 · $44/mo
• Expected delta: +$251/yr (+$21/mo · 88.6%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $12,247
• − Mortgage interest: −$3,081
• − Property taxes: −$283
• − Insurance: −$275
• − Repairs & maintenance: −$980
• − Management: −$980
• − Depreciation: −$1,600
• Taxable income: $5,049
• Est. tax owed @ 24.0%: −$1,212
• After-tax cash flow: $4,444/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: Community R-VI
• NCES district ID: 2910020
• Math proficiency: 25% ▬ 0.00%
• Reading proficiency: 40% ▲ 5.00%
• Median HH income: $43,035
• Composite: 30.32/100
• National rank: #11544
• State rank: #424 of 535 in MO

Livability — Martinsburg

• Score: 54/100
• State rank: #792
• US rank: #24061

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 921

Population outlook (Audrain County) Hauer SSP2

• Today (2025): 27,791 people
• By 2030: 28,684 · +3.2%
• By 2040: 30,598 · +10.1%
• By 2050: 32,319 · +16.3%
• By 2075: 36,395 · +31.0%
• By 2100: 37,277 · +34.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Black 1%
• Common ancestry: Iranian 1% Slovak 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Other Asian/Pacific 1%

Political lean MEDSL · Audrain

• 2024 margin: Solid R (+47.6) · D 25.6% · R 73.2% · Other 1.2%
• 2008→2024 swing: -31.6pp toward R · 2008: -16.1pp · 2024: -47.6pp
• All cycles: 2024: R+47.6 2020: R+47.2 2016: R+44.0 2012: R+26.6 2008: R+16.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.20%
• Current HPI: 194.5093
• 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

-32.9% since first listed

7 events — show timeline

• 2026-05-13 Relisted — HMMLS
• 2026-03-29 Delisted — HMMLS
• 2026-02-03 Listed $55,000 HMMLS
• 2025-12-03 Price Changed $55,000 HMMLS
• 2025-10-15 Price Changed $72,000 HMMLS
• 2025-07-27 Listed $82,000 HMMLS
• 2015-11-24 Sold (Public Records) — Public Records

Property tax history

-0.1%/yr

Latest (2025): $283 · +0.4% YoY. Source: county tax records.