567 N Lakeshore Dr

Iron Mountain Lake, MO 63624

$49,900B+

1 bd · 1.0 ba · 400 sqft · Built 1960 · Other · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $757/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$42
• HOA: −$0
• Vac / Maint / Mgmt: −$159
• Net cashflow: $294/mo
• Annual: $3,528/yr
• Cap rate: 13.36%
• Cash-on-cash: 25.25%
• DSCR: 2.12
• 1% rule: 1.52%
• Cash to close: $13,972

Investor read

• This is a 1-bed/1.0-bath other listed at $50k.
• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($757 rent vs $50k).
• It's been on market 26 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($345 loan paydown + $5k appreciation (10.0% local appreciation)).
• Location reads 44/100 on livability (#966 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime F, amenities F, commute F.
• Bismarck R-V (rural): math 18% / reading 31% proficiency, ranked #292 of 324 in MO (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Bismarck R-V Elem. (math 27% / reading 27%, grade F, #850 of 1,115 statewide, top 78%, 227 students, 94% FRL); Bismarck R-V High (math 12% / reading 32%, grade F, #462 of 521 statewide, top 90%, 277 students, 99% FRL) — zoned schools average 97% FRL vs 58% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 23 active listings in the ZIP; 134 units permitted in St. Francois County in 2024 (32 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $10k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1960 — 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.