319 N Main St

Cardwell, MO 63829

$57,000B+

3 bd · 1.0 ba · 1,274 sqft · Built 1955 · Other · Active · 268 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,123/mo
• Mortgage (P&I): −$299
• Tax + insurance: −$517
• HOA: −$0
• Vac / Maint / Mgmt: −$236
• Net cashflow: $71/mo
• Annual: $849/yr
• Cap rate: 17.48%
• Cash-on-cash: 39.94%
• DSCR: 2.78
• 1% rule: 1.97%
• Cash to close: $15,960

Investor read

• This is a 3-bed/1.0-bath other listed at $57k.
• At list price, monthly cash flow is $71 ($849/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $57k).
• It's been on market 268 days — a 12% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $50k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($394 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 53/100 on livability (#809 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: health & safety C-, schools F, crime F.
• Southland C-9 (rural): math 20% / reading 30% proficiency, ranked #494 of 535 in MO (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: flood insurance adds $460/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 30 units permitted in Dunklin County in 2024 (0 in 5+ unit buildings).
• Dunklin County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 7→20/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 268 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 F-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.