217 S Lincoln St

East Prairie, MO 63845

$64,900B-

3 bd · 2.0 ba · 1,515 sqft · Built 1900 · Other · Active · 115 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,122/mo
• Mortgage (P&I): −$340
• Tax + insurance: −$125
• HOA: −$0
• Vac / Maint / Mgmt: −$236
• Net cashflow: $421/mo
• Annual: $5,048/yr
• Cap rate: 14.07%
• Cash-on-cash: 27.78%
• DSCR: 2.24
• 1% rule: 1.73%
• Cash to close: $18,172

Investor read

• This is a 3-bed/2.0-bath other listed at $65k.
• At list price, monthly cash flow is $421 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• It's been on market 115 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#708 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing A; Watch: amenities F, commute F, employment F.
• East Prairie R-II (town): math 19% / reading 33% proficiency, ranked #287 of 324 in MO (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: East Prairie Elem (math 32% / reading 32%, grade F, #761 of 1,115 statewide, top 72%, 410 students, 99% FRL); East Prairie Middle (math 15% / reading 29%, grade F, #332 of 391 statewide, top 86%, 314 students, 99% FRL); East Prairie High (math 12% / reading 47%, grade F, #382 of 521 statewide, top 78%, 312 students, 99% FRL) — zoned schools average 99% FRL vs 56% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 22 active listings in the ZIP; 7 units permitted in Mississippi County in 2024 (0 in 5+ unit buildings).
• Mississippi County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $30k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $65k implies a 85% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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.