1034 Wayne 372

Greenville, MO 63957

$164,900D

3 bd · 2.0 ba · 1,512 sqft · Built 2001 · Other · Pending · 170 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,117/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$103
• HOA: −$0
• Vac / Maint / Mgmt: −$235
• Net cashflow: $-85/mo
• Annual: $-1,018/yr
• Cap rate: 5.68%
• Cash-on-cash: -2.21%
• DSCR: 0.90
• 1% rule: 0.68%
• Cash to close: $46,172

Investor read

• This is a 3-bed/2.0-bath other listed at $165k.
• At list price, monthly cash flow is $-85 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (9.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (32.3% below list).
• It's been on market 170 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $112k (32.3% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($1k loan paydown + $10k appreciation (5.9% local appreciation)).
• Location reads 63/100 on livability (#363 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D, crime F.
• Clearwater R-I (rural): math 33% / reading 33% proficiency, ranked #255 of 324 in MO (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Clearwater Elementary (math 42% / reading 32%, grade F, #611 of 1,115 statewide, top 59%, 414 students, 72% FRL); Clearwater Middle (math 26% / reading 27%, grade F, #313 of 391 statewide, top 81%, 263 students, 66% FRL); Clearwater High (math 34% / reading 57%, grade D-, #174 of 521 statewide, top 33%, 239 students, 55% FRL) — zoned schools at 64% FRL track the district average.
• Market conditions: 70 active listings in the ZIP.
• Wayne County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 170 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
• 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 D-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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.