219 S Center St

Coffey, MO 64636

$15,000D+

2 bd · 3.0 ba · 1,024 sqft · Built 1920 · Other · Pending · 107 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $983/mo
• Mortgage (P&I): −$79
• Tax + insurance: −$13
• HOA: −$0
• Vac / Maint / Mgmt: −$206
• Net cashflow: $685/mo
• Annual: $8,220/yr
• Cap rate: 61.09%
• Cash-on-cash: 195.71%
• DSCR: 9.71
• 1% rule: 6.55%
• Cash to close: $4,200

Investor read

• This is a 2-bed/3.0-bath other listed at $15k.
• At list price, monthly cash flow is $685 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($983 rent vs $15k).
• It's been on market 107 days — a 9% lower offer ($14k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $14k (9.0% below list) — sets the bar for market timing.
• In year one you build about $554 of equity ($104 loan paydown + $450 appreciation (3.0% local appreciation)).
• Location reads 53/100 on livability (#833 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• North Daviess R-III (rural): math 11% / reading 40% proficiency, ranked #487 of 535 in MO (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 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.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1920 — 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?
• 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.