22225 County Road 271a

Wheatland, MO 65779

$124,900D

2 bd · 2.0 ba · 1,080 sqft · Built 1973 · Other · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $948/mo
• Mortgage (P&I): −$655
• Tax + insurance: −$78
• HOA: −$8
• Vac / Maint / Mgmt: −$199
• Net cashflow: $9/mo
• Annual: $103/yr
• Cap rate: 6.38%
• Cash-on-cash: 0.30%
• DSCR: 1.01
• 1% rule: 0.76%
• Cash to close: $34,972

Investor read

• This is a 2-bed/2.0-bath other listed at $125k.
• At list price, monthly cash flow is $9 ($103/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 $95k (24.1% below list).
• It's been on market 18 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $95k (24.1% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($864 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 53/100 on livability (#810 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: crime F, amenities F, commute F.
• Wheatland R-II (rural): math 35% / reading 40% proficiency, ranked #367 of 535 in MO (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Wheatland Elem. (math 32% / reading 42%, grade F, #611 of 1,115 statewide, top 59%, 166 students, 63% FRL); Wheatland High (math 32% / reading 32%, grade F, #356 of 521 statewide, top 71%, 150 students, 67% FRL) — zoned schools at 65% FRL track the district average.
• Market conditions: 41 active listings in the ZIP.
• Hickory County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 6.4% vs local median 3.3% in Wheatland — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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?
• 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.