22479 S Dorothy Dr

Malden, MO 63863

$155,000C-

3 bd · 2.0 ba · 2,475 sqft · Built 1976 · Other · Active · 122 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,283/mo
• Mortgage (P&I): −$813
• Tax + insurance: −$316
• HOA: −$0
• Vac / Maint / Mgmt: −$269
• Net cashflow: $-115/mo
• Annual: $-1,384/yr
• Cap rate: 6.89%
• Cash-on-cash: 2.13%
• DSCR: 1.09
• 1% rule: 0.83%
• Cash to close: $43,400

Investor read

• This is a 3-bed/2.0-bath other listed at $155k.
• At list price, monthly cash flow is $-115 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $135k (13.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (17.2% below list).
• It's been on market 122 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $128k (17.2% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $5k 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-, crime F, amenities 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.
• Zoned schools: Malden Lower Elem. (math 23% / reading 35%, grade F, #842 of 1,115 statewide, top 76%, 454 students, 100% FRL); Malden High (math 12% / reading 27%, grade F, #478 of 521 statewide, top 92%, 425 students, 100% FRL) — zoned schools average 100% FRL vs 63% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $192/mo.
• 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; this cycle's ask has dropped $25k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 122 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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?