509 US 59 Hwy

Fairfax, MO 64446

$85,000B-

3 bd · 1.0 ba · 960 sqft · Built 1969 · Other · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $855/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$112
• HOA: −$0
• Vac / Maint / Mgmt: −$180
• Net cashflow: $118/mo
• Annual: $1,412/yr
• Cap rate: 7.95%
• Cash-on-cash: 5.93%
• DSCR: 1.26
• 1% rule: 1.01%
• Cash to close: $23,800

Investor read

• This is a 3-bed/1.0-bath other listed at $85k.
• At list price, monthly cash flow is $118 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($855 rent vs $85k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($588 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 65/100 on livability (#276 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: crime F, amenities F, commute F.
• Fairfax R-III (rural): math 50% / reading 55% proficiency, ranked #85 of 535 in MO (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 4 active listings in the ZIP.
• Atchison County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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 (3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1969 — 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.
• 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.