12 W Broadway

Ellsinore, MO 63937

$79,900C

1 bd · 1.0 ba · 672 sqft · Built 2004 · Other · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $786/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$165
• Net cashflow: $69/mo
• Annual: $825/yr
• Cap rate: 7.33%
• Cash-on-cash: 3.69%
• DSCR: 1.16
• 1% rule: 0.98%
• Cash to close: $22,372

Investor read

• This is a 1-bed/1.0-bath other listed at $80k.
• At list price, monthly cash flow is $69 ($825/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 $79k (1.6% below list).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $79k (1.6% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($552 loan paydown + $4k appreciation (4.5% local appreciation)).
• Location reads 59/100 on livability (#529 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• East Carter County R-II (rural): math 43% / reading 54% proficiency, ranked #71 of 324 in MO (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: East Carter Co. R-Ii Elem. (math 47% / reading 57%, grade C-, #231 of 1,115 statewide, top 24%, 327 students, 66% FRL); East Carter Co. R-Ii High (math 44% / reading 44%, grade F, #179 of 521 statewide, top 39%, 184 students, 61% FRL) — zoned schools at 64% FRL track the district average.
• Market conditions: 15 active listings in the ZIP; 2 units permitted in Carter County in 2024 (0 in 5+ unit buildings).
• Carter County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (4.5% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~5 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.

Questions for listing agent

• 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.