703 N Carolina St

Louisiana, MO 63353

$159,900B-

10 bd · 5.0 ba · 3,926 sqft · Built 1860 · MultiFamily · Active · 65 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,745/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$266
• HOA: −$0
• Vac / Maint / Mgmt: −$576
• Net cashflow: $1,064/mo
• Annual: $12,762/yr
• Cap rate: 14.27%
• Cash-on-cash: 28.50%
• DSCR: 2.27
• 1% rule: 1.72%
• Cash to close: $44,772

Investor read

• This is a 2 × 5-bed/?-bath units multifamily listed at $160k. Condition is rated fair.
• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $532/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• It's been on market 65 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#105 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools D-, amenities F, commute F.
• Louisiana R-II (town): math 31% / reading 39% proficiency, ranked #227 of 324 in MO (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 32 active listings in the ZIP; 38 units permitted in Pike County in 2024 (0 in 5+ unit buildings).
• Pike County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 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 $45k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 14.3% vs local median 9.2% in Louisiana — 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 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1860 — 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.
• 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?

Repairs flagged (vision-AI assessment)

• Major: exterior siding — The exterior siding is visibly weathered and in poor condition, indicating significant structural damage.
• Minor: roof — There are no visible major leaks or damage, but some minor repairs may be needed.
• Minor: interior walls — There are some minor discoloration and wear, which could be addressed with painting.
• Major: flooring — The hardwood flooring is worn and could benefit from refinishing or replacement.