104 S College

Liberal, MO 64762

$79,900C+

2 bd · 1.0 ba · 784 sqft · Built 1960 · Other · Active · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $839/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$49
• HOA: −$0
• Vac / Maint / Mgmt: −$176
• Net cashflow: $195/mo
• Annual: $2,342/yr
• Cap rate: 9.22%
• Cash-on-cash: 10.47%
• DSCR: 1.47
• 1% rule: 1.05%
• Cash to close: $22,372

Investor read

• This is a 2-bed/1.0-bath other listed at $80k.
• At list price, monthly cash flow is $195 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($839 rent vs $80k).
• It's been on market 28 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($552 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 61/100 on livability (#453 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• Liberal R-II (rural): math 31% / reading 40% proficiency, ranked #386 of 535 in MO (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Liberal Elem. (math 44% / reading 44%, grade F, #413 of 1,115 statewide, top 42%, 119 students, 50% FRL); Liberal Middle (math 27% / reading 42%, grade F, #243 of 391 statewide, top 65%, 66 students, 41% FRL) — zoned schools at 45% FRL track the district average.
• Market conditions: 14 active listings in the ZIP; 6 units permitted in Barton County in 2024 (0 in 5+ unit buildings).
• Barton County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 3y ago 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 (3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.