9112 Main St

Altenburg, MO 63732

$60,000B+

3 bd · 2.0 ba · 1,564 sqft · Built 1910 · Other · Active · 131 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,176/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$76
• HOA: −$0
• Vac / Maint / Mgmt: −$247
• Net cashflow: $539/mo
• Annual: $6,470/yr
• Cap rate: 17.08%
• Cash-on-cash: 38.51%
• DSCR: 2.71
• 1% rule: 1.96%
• Cash to close: $16,800

Investor read

• This is a 3-bed/2.0-bath other listed at $60k.
• At list price, monthly cash flow is $539 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• It's been on market 131 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($415 loan paydown + $2k appreciation (3.7% local appreciation)).
• Location reads 60/100 on livability (#472 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Altenburg 48 (rural): math 40% / reading 40% proficiency, ranked #274 of 535 in MO (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Altenburg Elem. (math 52% / reading 67%, grade B-, #124 of 1,115 statewide, top 13%, 110 students, 28% FRL) — zoned schools at 28% FRL track the district average.
• Zoned-school proficiency averages 60% at this address vs 40% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Altenburg 48 average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 36 units permitted in Perry County in 2024 (0 in 5+ unit buildings).
• 4 sale attempts since 2y 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 (3.7% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 131 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1910 — 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 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?
• 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?
• 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.