200 E Howard St

Malden, MO 63863

$29,900B

3 bd · 2.0 ba · 1,331 sqft · Built 1925 · Other · Under Contract

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,194/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$36
• HOA: −$0
• Vac / Maint / Mgmt: −$251
• Net cashflow: $751/mo
• Annual: $9,010/yr
• Cap rate: 36.43%
• Cash-on-cash: 107.62%
• DSCR: 5.79
• 1% rule: 3.99%
• Cash to close: $8,372

Investor read

• This is a 3-bed/2.0-bath other listed at $30k.
• At list price, monthly cash flow is $751 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $1k of equity ($207 loan paydown + $974 appreciation (3.3% local appreciation)).
• Location reads 59/100 on livability (#572 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Malden R-I (town): math 19% / reading 31% proficiency, ranked #294 of 324 in MO (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 36 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.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $5k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.3% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 36.4% vs local median 6.6% in Malden — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.