204 W 3rd St

Stanberry, MO 64489

$129,900C+

3 bd · 3.0 ba · 1,776 sqft · Built 1875 · SingleFamily · Active · 113 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,241/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$140
• HOA: −$0
• Vac / Maint / Mgmt: −$261
• Net cashflow: $159/mo
• Annual: $1,909/yr
• Cap rate: 7.76%
• Cash-on-cash: 5.25%
• DSCR: 1.23
• 1% rule: 0.96%
• Cash to close: $36,372

Investor read

• This is a 3-bed/3.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $159 ($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 $124k (4.5% below list).
• It's been on market 113 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($898 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 69/100 on livability (#152 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety F.
• Stanberry R-II (rural): math 50% / reading 50% proficiency, ranked #119 of 535 in MO (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1875 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 12 active listings in the ZIP; 3 units permitted in Gentry County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $19k (13%) 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 $36k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1875 — 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.
• 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.