566 Walnut St

Bourbon, MO 65441

$82,500B

2 bd · 1.0 ba · 936 sqft · Built 1958 · Other · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,400/mo
• Mortgage (P&I): −$433
• Tax + insurance: −$122
• HOA: −$0
• Vac / Maint / Mgmt: −$294
• Net cashflow: $551/mo
• Annual: $6,613/yr
• Cap rate: 14.31%
• Cash-on-cash: 28.63%
• DSCR: 2.27
• 1% rule: 1.70%
• Cash to close: $23,100

Investor read

• This is a 2-bed/1.0-bath other listed at $82k.
• At list price, monthly cash flow is $551 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $570 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#70 in MO, #4,719 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Crawford County R-I (town): math 34% / reading 48% proficiency, ranked #143 of 324 in MO (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bourbon Elementary School (math 37% / reading 42%, grade F, #537 of 1,115 statewide, top 53%, 344 students, 57% FRL); Bourbon High School (math 32% / reading 54%, grade F, #209 of 521 statewide, top 40%, 271 students, 51% FRL) — zoned schools at 54% FRL track the district average.
• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 26 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 23 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).
• Crawford County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1958 — 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 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?
• 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.