811 W Mill St

Gallatin, MO 64640

$49,900B+

3 bd · 3.0 ba · 1,136 sqft · Built 1920 · Other · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $995/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$58
• HOA: −$0
• Vac / Maint / Mgmt: −$209
• Net cashflow: $466/mo
• Annual: $5,593/yr
• Cap rate: 17.50%
• Cash-on-cash: 40.03%
• DSCR: 2.78
• 1% rule: 1.99%
• Cash to close: $13,972

Investor read

• This is a 3-bed/3.0-bath other listed at $50k.
• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($995 rent vs $50k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $5k of equity ($345 loan paydown + $5k appreciation (10.0% local appreciation)).
• Location reads 61/100 on livability (#426 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D+, amenities F, commute F.
• Gallatin R-V (rural): math 47% / reading 48% proficiency, ranked #66 of 324 in MO (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 125 active listings in the ZIP.
• Daviess County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 5y 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 (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 1920 — 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 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?
• 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.