202 Broad St

Waverly, MO 64096

$120,000C

2 bd · 2.0 ba · 1,712 sqft · Built 1990 · SingleFamily · Pending · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,052/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$203
• HOA: −$0
• Vac / Maint / Mgmt: −$221
• Net cashflow: $-2/mo
• Annual: $-18/yr
• Cap rate: 6.28%
• Cash-on-cash: -0.05%
• DSCR: 1.00
• 1% rule: 0.88%
• Cash to close: $33,600

Investor read

• This is a 2-bed/2.0-bath single-family listed at $120k.
• At list price, monthly cash flow is $-2 ($-18/yr) — negative.
• To cash-flow at today's rent, offer at most $120k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $105k (12.3% below list).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $105k (12.3% below list) — sets the bar for 1% rule.
• In year one you build about $13k of equity ($830 loan paydown + $12k appreciation (10.0% local appreciation)).
• Location reads 62/100 on livability (#367 in MO) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: amenities F, commute F, employment F.
• Santa Fe R-X (rural): math 30% / reading 50% proficiency, ranked #302 of 535 in MO (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Santa Fe Elem. (math 37% / reading 47%, grade F, #481 of 1,115 statewide, top 46%, 162 students, 54% FRL); Santa Fe High (math 42% / reading 42%, grade F, #218 of 521 statewide, top 45%, 172 students, 43% FRL).
• Market conditions: 9 active listings in the ZIP; 112 units permitted in Lafayette County in 2024 (0 in 5+ unit buildings).
• Lafayette County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k 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?
• 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.