103 E 4th St

Carrollton, MO 64633

$62,500B+

4 bd · 1.0 ba · 1,164 sqft · Built 1945 · Other · Active · 329 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,072/mo
• Mortgage (P&I): −$328
• Tax + insurance: −$68
• HOA: −$0
• Vac / Maint / Mgmt: −$225
• Net cashflow: $451/mo
• Annual: $5,411/yr
• Cap rate: 14.95%
• Cash-on-cash: 30.92%
• DSCR: 2.38
• 1% rule: 1.71%
• Cash to close: $17,500

Investor read

• This is a 4-bed/1.0-bath other listed at $62k.
• At list price, monthly cash flow is $451 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• It's been on market 329 days — a 12% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $55k (12.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($432 loan paydown + $6k appreciation (10.0% local appreciation)).
• Location reads 73/100 on livability (#80 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment F.
• Carrollton R-VII (town): math 31% / reading 46% proficiency, ranked #178 of 324 in MO (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 39 active listings in the ZIP; 24 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).
• Carroll County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $8k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $18k 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.
• Cap rate 14.9% vs local median 4.8% in Carrollton — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 329 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.