34385 Ratcliff Rd

Latham, MO 65018

$145,000D

3 bd · 2.0 ba · 1,248 sqft · Built 1999 · Other · Pending · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,113/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$92
• HOA: −$0
• Vac / Maint / Mgmt: −$234
• Net cashflow: $27/mo
• Annual: $324/yr
• Cap rate: 6.52%
• Cash-on-cash: 0.80%
• DSCR: 1.04
• 1% rule: 0.77%
• Cash to close: $40,600

Investor read

• This is a 3-bed/2.0-bath other listed at $145k.
• At list price, monthly cash flow is $27 ($324/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 $111k (23.3% below list).
• It's been on market 15 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $111k (23.3% 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 $4k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Moniteau County R-V (rural): math 40% / reading 50% proficiency, ranked #178 of 535 in MO (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Latham Elem. (math 30% / reading 50%, 27 students, 48% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: 43 active listings in the ZIP; 3 units permitted in Moniteau County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts since 16y 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.