500 E Lexington Ave

Jasper, MO 64755

$32,500B+

2 bd · 1.0 ba · 1,305 sqft · Built 1960 · Other · Active · 92 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,064/mo
• Mortgage (P&I): −$170
• Tax + insurance: −$58
• HOA: −$0
• Vac / Maint / Mgmt: −$223
• Net cashflow: $612/mo
• Annual: $7,341/yr
• Cap rate: 28.88%
• Cash-on-cash: 80.67%
• DSCR: 4.59
• 1% rule: 3.27%
• Cash to close: $9,100

Investor read

• This is a 2-bed/1.0-bath other listed at $32k.
• At list price, monthly cash flow is $612 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $32k).
• It's been on market 92 days — a 9% lower offer ($30k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $30k (9.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($225 loan paydown + $2k appreciation (5.9% local appreciation)).
• Location reads 58/100 on livability (#574 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools D-, crime F, amenities F.
• Jasper County R-V (rural): math 31% / reading 37% proficiency, ranked #226 of 324 in MO (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 21 active listings in the ZIP; 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 $28k (46%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~1 year — after that, you're playing with house money.
• 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

• It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1960 — 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.