214 S Grand Ave

Eldon, MO 65026

$62,000B+

3 bd · 1.0 ba · 900 sqft · Built 1910 · Other · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $851/mo
• Mortgage (P&I): −$325
• Tax + insurance: −$48
• HOA: −$0
• Vac / Maint / Mgmt: −$179
• Net cashflow: $299/mo
• Annual: $3,589/yr
• Cap rate: 12.08%
• Cash-on-cash: 20.67%
• DSCR: 1.92
• 1% rule: 1.37%
• Cash to close: $17,360

Investor read

• This is a 3-bed/1.0-bath other listed at $62k.
• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($851 rent vs $62k).
• It's been on market 18 days — a 2% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $61k (1.5% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($429 loan paydown + $6k appreciation (10.0% local appreciation)).
• Location reads 66/100 on livability (#249 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D, amenities F, commute F.
• Eldon R-I (town): math 46% / reading 54% proficiency, ranked #52 of 324 in MO (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: South Elem. (math 42% / reading 42%, grade F, #481 of 1,115 statewide, top 46%, 566 students, 50% FRL); Eldon Middle (math 45% / reading 56%, grade C, #64 of 391 statewide, top 17%, 423 students, 49% FRL); Eldon High (math 37% / reading 62%, grade D, #124 of 521 statewide, top 28%, 584 students, 40% FRL).
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 106 active listings in the ZIP; 88 units permitted in Miller County in 2024 (31 in 5+ unit buildings).
• Miller County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, 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 1910 — 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.
• 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.