305 Cypress St

Charleston, MO 63834

$49,900B

4 bd · 3.0 ba · 1,556 sqft · Built 1892 · Other · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,047/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$99
• HOA: −$0
• Vac / Maint / Mgmt: −$220
• Net cashflow: $467/mo
• Annual: $5,599/yr
• Cap rate: 17.51%
• Cash-on-cash: 40.07%
• DSCR: 2.78
• 1% rule: 2.10%
• Cash to close: $13,972

Investor read

• This is a 4-bed/3.0-bath other listed at $50k.
• At list price, monthly cash flow is $467 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $4k of equity ($345 loan paydown + $3k appreciation (6.7% local appreciation)).
• Location reads 53/100 on livability (#842 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Charleston R-I (town): math 11% / reading 23% proficiency, ranked #310 of 324 in MO (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Warren E. Hearnes Elem. (math 8% / reading 17%, grade F, #1,007 of 1,115 statewide, top 91%, 262 students, 98% FRL); Charleston Upper Elementary (math 12% / reading 17%, grade F, #362 of 391 statewide, top 93%, 179 students, 92% FRL); Charleston High (math 15% / reading 37%, grade F, #430 of 521 statewide, top 83%, 331 students, 97% FRL) — zoned schools average 96% FRL vs 78% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1892 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 21 active listings in the ZIP; 7 units permitted in Mississippi County in 2024 (0 in 5+ unit buildings).
• Mississippi County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.

Questions for listing agent

• Built in 1892 — 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.