1808 Aurora St S

Eldon, MO 65026

$145,000C-

2 bd · 1.5 ba · 1,146 sqft · Built 1975 · Other · Active · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $995/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$156
• HOA: −$0
• Vac / Maint / Mgmt: −$209
• Net cashflow: $-131/mo
• Annual: $-1,571/yr
• Cap rate: 5.67%
• Cash-on-cash: -2.23%
• DSCR: 0.90
• 1% rule: 0.69%
• Cash to close: $40,600

Investor read

• This is a 2-bed/1.5-bath other listed at $145k.
• At list price, monthly cash flow is $-131 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $122k (15.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $99k (31.4% below list).
• It's been on market 16 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $99k (31.4% below list) — sets the bar for 1% rule.
• In year one you build about $16k of equity ($1k loan paydown + $14k appreciation (10.0% local appreciation)).
• Location reads 66/100 on livability (#249 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D, amenities F, commute F.
• Eldon R-I (town): math 46% / reading 54% proficiency, ranked #52 of 324 in MO (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: South Elem. (math 42% / reading 42%, grade F, #481 of 1,115 statewide, top 46%, 566 students, 50% FRL); Eldon Middle (math 45% / reading 56%, grade C, #64 of 391 statewide, top 17%, 423 students, 49% FRL); Eldon High (math 37% / reading 62%, grade D, #124 of 521 statewide, top 28%, 584 students, 40% FRL).
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: 106 active listings in the ZIP; 88 units permitted in Miller County in 2024 (31 in 5+ unit buildings).
• Miller County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.