111 Maple St

Exeter, MO 65647

$157,900C-

3 bd · 1.0 ba · 1,736 sqft · Built 1977 · SingleFamily · Active · 115 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,299/mo
• Mortgage (P&I): −$828
• Tax + insurance: −$135
• HOA: −$0
• Vac / Maint / Mgmt: −$273
• Net cashflow: $62/mo
• Annual: $749/yr
• Cap rate: 6.77%
• Cash-on-cash: 1.69%
• DSCR: 1.08
• 1% rule: 0.82%
• Cash to close: $44,212

Investor read

• This is a 3-bed/1.0-bath single-family listed at $158k.
• At list price, monthly cash flow is $62 ($749/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (17.8% below list).
• It's been on market 115 days — a 9% lower offer ($144k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $130k (17.8% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.3% local appreciation)).
• Location reads 65/100 on livability (#259 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, schools F, amenities F.
• Exeter R-VI (town): math 25% / reading 25% proficiency, ranked #493 of 535 in MO (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 22 active listings in the ZIP; 57 units permitted in Barry County in 2024 (0 in 5+ unit buildings).
• Barry County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• At projected returns (3.3% appreciation + 3.0% rent growth), your $44k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 115 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.