205 E 2nd St

Winston, MO 64689

$51,800B+

2 bd · 3.0 ba · 1,090 sqft · Built 1900 · Other · Pending · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $953/mo
• Mortgage (P&I): −$272
• Tax + insurance: −$54
• HOA: −$0
• Vac / Maint / Mgmt: −$200
• Net cashflow: $428/mo
• Annual: $5,135/yr
• Cap rate: 16.21%
• Cash-on-cash: 35.40%
• DSCR: 2.58
• 1% rule: 1.84%
• Cash to close: $14,504

Investor read

• This is a 2-bed/3.0-bath other listed at $52k.
• At list price, monthly cash flow is $428 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($953 rent vs $52k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $4k of equity ($358 loan paydown + $4k appreciation (6.9% local appreciation)).
• Location reads 54/100 on livability (#807 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: employment C-, crime F, amenities F.
• Winston R-VI (rural): math 40% / reading 40% proficiency, ranked #292 of 535 in MO (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Winston Elem. (math 34% / reading 34%, grade F, #676 of 1,115 statewide, top 66%, 63 students, 43% FRL); Winston High (math 44% / reading 44%, grade F, #179 of 521 statewide, top 39%, 75 students, 36% FRL) — zoned schools at 39% FRL track the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP.
• Daviess County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 8y ago 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 (6.9% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 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

• Built in 1900 — 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.
• 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.