422 S Graham St

Leeton, MO 64761

$57,900B+

3 bd · 1.0 ba · 1,865 sqft · Built 1920 · Other · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,211/mo
• Mortgage (P&I): −$304
• Tax + insurance: −$71
• HOA: −$0
• Vac / Maint / Mgmt: −$254
• Net cashflow: $582/mo
• Annual: $6,985/yr
• Cap rate: 18.36%
• Cash-on-cash: 43.09%
• DSCR: 2.92
• 1% rule: 2.09%
• Cash to close: $16,212

Investor read

• This is a 3-bed/1.0-bath other listed at $58k.
• At list price, monthly cash flow is $582 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($400 loan paydown + $3k appreciation (5.3% local appreciation)).
• Location reads 58/100 on livability (#587 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Leeton R-X (rural): math 55% / reading 55% proficiency, ranked #67 of 535 in MO (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Leeton Elem. (math 34% / reading 34%, grade F, #676 of 1,115 statewide, top 66%, 165 students, 46% FRL); Leeton High (math 24% / reading 75%, grade D+, #117 of 521 statewide, top 23%, 106 students, 47% FRL).
• Zoned-school proficiency averages 42% at this address vs 55% district-wide (-13 pts) — the specific schools serving this property underperform the Leeton R-X average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 13 active listings in the ZIP; 80 units permitted in Johnson County in 2024 (27 in 5+ unit buildings).
• Johnson County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 9 sale attempts since 7y 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 (5.3% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1920 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.