1105 Walnut St

Carthage, MO 64836

$99,000D

1 bd · 1.0 ba · 576 sqft · Built 2015 · Other · Pending · 73 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $797/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$82
• HOA: −$0
• Vac / Maint / Mgmt: −$167
• Net cashflow: $29/mo
• Annual: $342/yr
• Cap rate: 6.64%
• Cash-on-cash: 1.24%
• DSCR: 1.05
• 1% rule: 0.81%
• Cash to close: $27,720

Investor read

• This is a 1-bed/1.0-bath other listed at $99k.
• At list price, monthly cash flow is $29 ($342/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $80k (19.5% below list).
• It's been on market 73 days — a 6% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $80k (19.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#131 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: amenities F, commute F, employment F.
• Carthage R-IX (town): math 37% / reading 39% proficiency, ranked #183 of 324 in MO (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Columbian Elem. (math 22% / reading 22%, grade F, #910 of 1,115 statewide, top 83%, 379 students, 87% FRL); Carthage Jr. High (math 38% / reading 41%, grade F, #189 of 391 statewide, top 51%, 752 students, 64% FRL); Carthage High School (math 44% / reading 43%, grade F, #208 of 521 statewide, top 40%, 1,610 students, 60% FRL) — zoned schools average 71% FRL vs 56% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 195 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 602 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts since 11y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent is only 16% of the median local income ($61k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 73 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• 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.
• 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.