328 Clyde St

Slater, MO 65349

$109,900C+

3 bd · 1.0 ba · 1,295 sqft · Built 1960 · Other · Pending · 77 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,059/mo
• Mortgage (P&I): −$576
• Tax + insurance: −$123
• HOA: −$0
• Vac / Maint / Mgmt: −$222
• Net cashflow: $137/mo
• Annual: $1,643/yr
• Cap rate: 7.79%
• Cash-on-cash: 5.34%
• DSCR: 1.24
• 1% rule: 0.96%
• Cash to close: $30,772

Investor read

• This is a 3-bed/1.0-bath other listed at $110k.
• At list price, monthly cash flow is $137 ($2k/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 $106k (3.7% below list).
• It's been on market 77 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($760 loan paydown + $7k appreciation (6.6% local appreciation)).
• Location reads 66/100 on livability (#241 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, employment F.
• Slater (rural): math 15% / reading 35% proficiency, ranked #492 of 535 in MO (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Alexander Elem. (math 17% / reading 32%, grade F, #879 of 1,115 statewide, top 81%, 211 students, 100% FRL); Slater High (math 5% / reading 24%, grade F, #490 of 521 statewide, top 95%, 131 students, 99% FRL) — zoned schools average 100% FRL vs 50% district-wide (49 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 14 active listings in the ZIP; 11 units permitted in Saline County in 2024 (0 in 5+ unit buildings).
• Saline County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 17y ago; this cycle's ask has dropped $20k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% 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 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?
• 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.