202 N Main St

Arcadia, MO 63621

$79,900B+

6 bd · 6.0 ba · 8,550 sqft · Built 1880 · MultiFamily · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,124/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$656
• Net cashflow: $1,916/mo
• Annual: $22,989/yr
• Cap rate: 35.07%
• Cash-on-cash: 102.76%
• DSCR: 5.57
• 1% rule: 3.91%
• Cash to close: $22,372

Investor read

• This is a 6-bed/6.0-bath multifamily listed at $80k. Condition is rated good.
• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $80k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($552 loan paydown + $3k appreciation (3.7% local appreciation)).
• Location reads 62/100 on livability (#372 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.
• Arcadia Valley R-II (rural): math 42% / reading 46% proficiency, ranked #115 of 324 in MO (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Arcadia Valley Elem. (math 42% / reading 42%, grade F, #481 of 1,115 statewide, top 46%, 397 students, 99% FRL); Arcadia Valley High (math 47% / reading 62%, grade C-, #69 of 521 statewide, top 15%, 343 students, 50% FRL) — zoned schools average 75% FRL vs 55% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 12 active listings in the ZIP; 6 units permitted in Iron County in 2024 (0 in 5+ unit buildings).
• Iron County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.7% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1880 — 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.
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Repairs flagged (vision-AI assessment)

• Major: Exposed framing in kitchen and bathrooms — Structural elements need to be completed
• Major: Exposed subfloor in kitchen and bathrooms — Flooring needs to be installed
• Major: Exposed drywall in kitchen and bathrooms — Painting and finishing needed