21061 Pike 307

Bowling Green, MO 63334

$1F

3 bd · 1.0 ba · 1,178 sqft · Built 1951 · Other · Pending · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,099/mo
• Mortgage (P&I): −$748
• Tax + insurance: −$238
• HOA: −$0
• Vac / Maint / Mgmt: −$231
• Net cashflow: $-118/mo
• Annual: $-1,421/yr
• Cap rate: 5.30%
• Cash-on-cash: -3.56%
• DSCR: 0.84
• 1% rule: 0.77%
• Cash to close: $39,964

Investor read

• This is a 3-bed/1.0-bath other listed at $1.
• At list price, monthly cash flow is $-118 ($-1k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• It's been on market 36 days — a 3% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• Local home prices are declining (-3.0%/yr); year-one equity from $987 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#91 in MO) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: schools D-, amenities F, commute F.
• Bowling Green R-I (town): math 31% / reading 49% proficiency, ranked #146 of 324 in MO (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 214090.2% of price; built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 35 active listings in the ZIP; 38 units permitted in Pike County in 2024 (0 in 5+ unit buildings).
• Pike County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

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?
• It's been on market 36 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.