2816 County Road 628

Fisk, MO 63940

$32,000B

2 bd · 1.0 ba · 780 sqft · Built 1958 · Other · Active · 163 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $836/mo
• Mortgage (P&I): −$168
• Tax + insurance: −$150
• HOA: −$0
• Vac / Maint / Mgmt: −$176
• Net cashflow: $343/mo
• Annual: $4,115/yr
• Cap rate: 23.85%
• Cash-on-cash: 62.70%
• DSCR: 3.79
• 1% rule: 2.61%
• Cash to close: $8,960

Investor read

• This is a 2-bed/1.0-bath other listed at $32k.
• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($836 rent vs $32k).
• It's been on market 163 days — a 12% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $28k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($221 loan paydown + $960 appreciation (3.0% local appreciation)).
• Location reads 62/100 on livability (#380 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, schools D-.
• Twin Rivers R-X (rural): math 27% / reading 39% proficiency, ranked #250 of 324 in MO (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $125/mo; built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 63 units permitted in Butler County in 2024 (48 in 5+ unit buildings).
• Butler County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $8k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); extreme-heat days projected 7→21/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 163 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1958 — 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 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.