1610 Barnes St

Piedmont, MO 63957

$85,000B+

4 bd · 1.0 ba · 1,607 sqft · Built 1957 · Other · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,288/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$72
• HOA: −$0
• Vac / Maint / Mgmt: −$270
• Net cashflow: $500/mo
• Annual: $6,002/yr
• Cap rate: 13.35%
• Cash-on-cash: 25.22%
• DSCR: 2.12
• 1% rule: 1.52%
• Cash to close: $23,800

Investor read

• This is a 4-bed/1.0-bath other listed at $85k.
• At list price, monthly cash flow is $500 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $6k of equity ($588 loan paydown + $5k appreciation (5.9% local appreciation)).
• Location reads 52/100 on livability (#854 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute 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 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.
• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• 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.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 13.4% vs local median 4.3% in Piedmont — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• Built in 1957 — 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.