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    Equestrian Dream Property on Acres Title is generated by Realmo AI

    7651 Highway 185, Leslie, MO 63056

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    For Sale
    $1,100,000

    Farm, Traditional - Leslie, MO

    Type:Farm
    Property size:
    3,582 SF
    Lot size:
    24.70 Acres
    Price / SF:
    $307/SF
    Added:
    May 31, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 1 at 5:06 am

    Property Features for 7651 Highway 185

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Bedrooms
    5
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Bonus Room, Dining Room, Kitchen, Laundry, Living Room
    Parking features
    Driveway, Garage
    Security features
    Smoke Detector(s)
    Pool private
    1
    Interior features
    Breakfast Bar, Eat-in Kitchen, Entrance Foyer, Separate Dining, Walk-in Closet(s)
    Exterior features
    Level, Fencing, Private Entrance, Pool
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Garbage Disposer, Microwave, Range, Refrigerator
    Standard status
    Active
    APN
    23-4-190-0-000-017000
    Size
    3,582 SF
    Lot size
    24.70 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    4154

    Utilities

    Heating system
    Fireplace(s), Propane (Heating)
    Cooling system
    Ceiling Fan(s), Electric

    Building Details

    Year built
    2008
    Floors in Building
    2
    Flooring type
    Carpet, Hardwood
    Roof type
    Shingle
    Architectural style
    New Traditional

    We can help!

    Listing Contact
    Danyee Mundwiller

    Listing agent Danyee Mundwiller License #2005025249

    Listing office Coldwell Banker Premier Group 1351 S. Jefferson, Ste. 100, St Louis, MO

    Listing date May 31, 2026

    MLS# 26033203 Listing URL

    Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 24.7+/- acre horse property with extensive open pasture and perimeter fencing.
    • Barn with six stalls, tack room, equipment outbuilding, utility shed, and workshop.
    • Inground pool and pool house.
    • Multiple primary bedroom suites (one on main level, one upstairs).
    • Wrap‑around porch.
    • Gated entry and fenced play yard.

    Overview

    This property, situated on 24.7 acres, offers a blend of country charm and modern comfort. The home features a wrap-around porch leading to a spacious interior. The main level includes a country eat-in kitchen and a large living room with a shared gas fireplace connecting to the primary bedroom suite. The primary suite has an enormous walk-in closet, dual sinks, a jetted tub, a separate shower, and private access to the wrap-around porch. A second ensuite bedroom and a sunken dining room with access to the patio and pool are also on this level, along with a convenient laundry area and full bath. Upstairs, there is an additional primary bedroom suite with a walk-in closet, two more generously sized bedrooms, and a bonus area. The property includes an inground pool and pool house. Equestrian amenities include a barn with six stalls, a tack room, an equipment outbuilding, a utility shed, and a workshop outbuilding. There is also a fenced play yard, a gated entry, and open pasture with some vinyl fencing. The property needs some TLC but offers potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    Big Box & Wholesale Store Auto Parts Store Kitchen & Bath Showroom HVAC Service Garden Center Plumbing Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Leslie
    County
    Franklin
    State
    Missouri
    Longitude
    -91.192031
    Latitude
    38.364716

    FAQs

    What type of property is this?
    Horse & equestrian property - Farm with modern home, pool, and equestrian facilities.
    Where is this horse & equestrian property located?
    The property is located at 7651 Highway 185 Leslie, MO.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: 24.7+/- acre horse property with extensive open pasture and perimeter fencing.; Barn with six stalls, tack room, equipment outbuilding, utility shed, and workshop.; Inground pool and pool house.
    (314) 973-2838
    We can help!
    Listing Contact
    Danyee Mundwiller
    Real Estate License ID: 2005025249
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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