35 Civey Blvd

Viburnum, MO 65439

$24,499C-

3 bd · 1.0 ba · 1,645 sqft · Built 1906 · SingleFamily · Active · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,120/mo
• Mortgage (P&I): −$128
• Tax + insurance: −$21
• HOA: −$0
• Vac / Maint / Mgmt: −$235
• Net cashflow: $735/mo
• Annual: $8,826/yr
• Cap rate: 42.32%
• Cash-on-cash: 128.66%
• DSCR: 6.72
• 1% rule: 4.57%
• Cash to close: $6,860

Investor read

• This is a 3-bed/1.0-bath single-family listed at $24k.
• At list price, monthly cash flow is $735 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• It's been on market 47 days — a 3% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $24k (3.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($169 loan paydown + $1k appreciation (4.4% local appreciation)).
• Location reads 55/100 on livability (#752 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools D, employment D, crime F.
• Iron County C-4 (rural): math 36% / reading 46% proficiency, ranked #299 of 535 in MO (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 6 units permitted in Iron County in 2024 (0 in 5+ unit buildings).
• Iron County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $16k (39%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (4.4% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1906 — 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?
• 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.