111 Maple St

Lamar, MO 64759

$172,000D

4 bd · 2.0 ba · 2,209 sqft · Built 1963 · Other · Pending · 78 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,308/mo
• Mortgage (P&I): −$902
• Tax + insurance: −$177
• HOA: −$0
• Vac / Maint / Mgmt: −$275
• Net cashflow: $-45/mo
• Annual: $-543/yr
• Cap rate: 5.98%
• Cash-on-cash: -1.13%
• DSCR: 0.95
• 1% rule: 0.76%
• Cash to close: $48,160

Investor read

• This is a 4-bed/2.0-bath other listed at $172k.
• At list price, monthly cash flow is $-45 ($-543/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (4.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (23.9% below list).
• It's been on market 78 days — a 6% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $131k (23.9% below list) — sets the bar for 1% rule.
• 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 65/100 on livability (#284 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B; Watch: amenities F, commute F, employment F.
• Lamar R-I (town): math 37% / reading 37% proficiency, ranked #196 of 324 in MO (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: East Elem. (275 students, 56% FRL); Lamar Middle (math 39% / reading 37%, grade F, #211 of 391 statewide, top 55%, 266 students, 53% FRL); Lamar High (math 22% / reading 42%, grade F, #356 of 521 statewide, top 71%, 393 students, 41% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: 65 active listings in the ZIP; 6 units permitted in Barton County in 2024 (0 in 5+ unit buildings).
• Barton County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 78 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• Built in 1963 — 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.