1157 E Price St

Republic, MO 65738

$342,000D+

4 bd · 3.5 ba · 2,151 sqft · Built 2024 · SingleFamily · Active · 135 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,593/mo
• Mortgage (P&I): −$1,793
• Tax + insurance: −$359
• HOA: −$8
• Vac / Maint / Mgmt: −$545
• Net cashflow: $-112/mo
• Annual: $-1,345/yr
• Cap rate: 5.90%
• Cash-on-cash: -1.40%
• DSCR: 0.94
• 1% rule: 0.76%
• Cash to close: $95,760

Investor read

• This is a 4-bed/3.5-bath single-family listed at $342k. Condition is rated good.
• At list price, monthly cash flow is $-112 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $322k (5.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $259k (24.2% below list).
• It's been on market 135 days — a 12% lower offer ($301k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $259k (24.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#92 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Republic R-III (suburban): math 56% / reading 57% proficiency, ranked #19 of 324 in MO (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Mcculloch Elementary (math 52% / reading 52%, grade C-, #231 of 1,115 statewide, top 24%, 454 students, 34% FRL); Republic Middle (math 50% / reading 53%, grade C, #57 of 391 statewide, top 15%, 1,146 students, 39% FRL); Republic High (math 56% / reading 60%, grade C, #48 of 521 statewide, top 9%, 1,542 students, 31% FRL) — zoned schools at 35% FRL track the district average.
• Market conditions: Rents rising (+3.6%/yr); 480 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 1,302 units permitted in Greene County in 2024 (250 in 5+ unit buildings).
• Greene County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 3y 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.
• Cap rate 5.9% vs local median 4.0% in Republic — 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.
• At $2,593/mo this rent would consume 46% of the median local household income ($68k/yr) (locally 461% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 135 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.