1208 Hicks Ave

Golden City, MO 64748

$105,000C-

2 bd · 1.0 ba · 1,101 sqft · Built 1930 · Other · Active · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $963/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$79
• HOA: −$0
• Vac / Maint / Mgmt: −$202
• Net cashflow: $131/mo
• Annual: $1,574/yr
• Cap rate: 7.79%
• Cash-on-cash: 5.35%
• DSCR: 1.24
• 1% rule: 0.92%
• Cash to close: $29,400

Investor read

• This is a 2-bed/1.0-bath other listed at $105k.
• At list price, monthly cash flow is $131 ($2k/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 $96k (8.3% below list).
• It's been on market 43 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $96k (8.3% below list) — sets the bar for 1% rule.
• In year one you build about $10k of equity ($726 loan paydown + $9k appreciation (8.4% local appreciation)).
• Location reads 56/100 on livability (#696 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: crime F, amenities F, commute F.
• Golden City R-III (rural): math 30% / reading 35% proficiency, ranked #435 of 535 in MO (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Golden City Elem. (math 24% / reading 44%, grade F, #676 of 1,115 statewide, top 66%, 71 students, 75% FRL); Golden City High (math 24% / reading 44%, grade F, #321 of 521 statewide, top 67%, 84 students, 66% FRL) — zoned schools average 70% FRL vs 54% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 23 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.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: 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

• It's been on market 43 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
• Built in 1930 — 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 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?
• 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.