409 N Main St

Edina, MO 63537

$157,500C-

4 bd · 2.0 ba · 2,367 sqft · Built — · SingleFamily · Active · 300 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,292/mo
• Mortgage (P&I): −$826
• Tax + insurance: −$262
• HOA: −$0
• Vac / Maint / Mgmt: −$271
• Net cashflow: $-68/mo
• Annual: $-818/yr
• Cap rate: 5.77%
• Cash-on-cash: -1.85%
• DSCR: 0.92
• 1% rule: 0.82%
• Cash to close: $44,100

Investor read

• This is a 4-bed/2.0-bath single-family listed at $158k.
• At list price, monthly cash flow is $-68 ($-818/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (6.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (18.0% below list).
• It's been on market 300 days — a 12% lower offer ($139k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $129k (18.0% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($1k loan paydown + $10k appreciation (6.4% local appreciation)).
• Location reads 61/100 on livability (#412 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B+; Watch: schools D, amenities F, commute F.
• Knox County R-I (rural): math 34% / reading 47% proficiency, ranked #154 of 324 in MO (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 13 active listings in the ZIP; 3 units permitted in Knox County in 2024 (0 in 5+ unit buildings).
• Knox County population projected at -32% 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 (6.4% appreciation + 3.0% rent growth), your $44k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 300 days. Have you received any prior offers? Is the seller open to a 18% 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?
• 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.