103 N Mill St

Windsor, MO 65360

$54,900B+

2 bd · 1.0 ba · 780 sqft · Built 1910 · Other · Pending · 77 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $700/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$33
• HOA: −$0
• Vac / Maint / Mgmt: −$147
• Net cashflow: $233/mo
• Annual: $2,791/yr
• Cap rate: 11.38%
• Cash-on-cash: 18.16%
• DSCR: 1.81
• 1% rule: 1.28%
• Cash to close: $15,372

Investor read

• This is a 2-bed/1.0-bath other listed at $55k.
• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($700 rent vs $55k).
• It's been on market 77 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($380 loan paydown + $5k appreciation (10.0% local appreciation)).
• Location reads 65/100 on livability (#288 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D+, amenities F, commute F.
• Henry County R-I (town): math 27% / reading 34% proficiency, ranked #270 of 324 in MO (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Windsor Elem. (math 27% / reading 32%, grade F, #813 of 1,115 statewide, top 75%, 377 students, 58% FRL); Windsor High (math 27% / reading 37%, grade F, #356 of 521 statewide, top 71%, 326 students, 48% FRL).
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 46 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 15 units permitted in Henry County in 2024 (0 in 5+ unit buildings).
• Henry County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 12y ago; this cycle's ask has dropped $20k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $55k implies a 449% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.