10046 Eye St

Caledonia, MO 63622

$115,000C-

1 bd · 1.5 ba · 2,140 sqft · Built 2014 · Other · Active · 234 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $991/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$121
• HOA: −$0
• Vac / Maint / Mgmt: −$208
• Net cashflow: $59/mo
• Annual: $705/yr
• Cap rate: 6.91%
• Cash-on-cash: 2.19%
• DSCR: 1.10
• 1% rule: 0.86%
• Cash to close: $32,200

Investor read

• This is a 1-bed/1.5-bath other listed at $115k.
• At list price, monthly cash flow is $59 ($705/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 $99k (13.8% below list).
• It's been on market 234 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $99k (13.8% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($795 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 47/100 on livability (#946 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, employment B; Watch: crime F, amenities F, commute F.
• Valley R-VI (rural): math 28% / reading 41% proficiency, ranked #230 of 324 in MO (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Caledonia Elem. (math 37% / reading 42%, grade F, #537 of 1,115 statewide, top 53%, 165 students, 52% FRL); Valley High (math 22% / reading 37%, grade F, #382 of 521 statewide, top 78%, 183 students, 41% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: 7 active listings in the ZIP.
• Washington County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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

• It's been on market 234 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• 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?
• 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.