606 Brown St

Princeton, MO 64673

$65,000B+

3 bd · 2.0 ba · 1,142 sqft · Built 1905 · Other · Active · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,051/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$64
• HOA: −$0
• Vac / Maint / Mgmt: −$221
• Net cashflow: $426/mo
• Annual: $5,109/yr
• Cap rate: 14.15%
• Cash-on-cash: 28.07%
• DSCR: 2.25
• 1% rule: 1.62%
• Cash to close: $18,200

Investor read

• This is a 3-bed/2.0-bath other listed at $65k.
• At list price, monthly cash flow is $426 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• It's been on market 33 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• In year one you build about $830 of equity ($449 loan paydown + $381 appreciation (0.6% local appreciation)).
• Location reads 63/100 on livability (#355 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B+, housing B+; Watch: employment D+, amenities F, commute F.
• Princeton R-V (rural): math 50% / reading 45% proficiency, ranked #158 of 535 in MO (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 24 active listings in the ZIP.
• Mercer County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1905 — 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 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.