111 N Mountain St

Ironton, MO 63650

$145,000D

3 bd · 1.5 ba · 1,188 sqft · Built 1970 · SingleFamily · Active · 123 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,125/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$145
• HOA: −$0
• Vac / Maint / Mgmt: −$236
• Net cashflow: $-16/mo
• Annual: $-198/yr
• Cap rate: 6.16%
• Cash-on-cash: -0.49%
• DSCR: 0.98
• 1% rule: 0.78%
• Cash to close: $40,600

Investor read

• This is a 3-bed/1.5-bath single-family listed at $145k.
• At list price, monthly cash flow is $-16 ($-198/yr) — negative.
• To cash-flow at today's rent, offer at most $142k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (22.4% below list).
• It's been on market 123 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $113k (22.4% below list) — sets the bar for 1% rule.
• In year one you build about $15k of equity ($1k loan paydown + $14k appreciation (9.6% local appreciation)).
• Location reads 62/100 on livability (#398 in MO) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: amenities F, commute F, employment F.
• Arcadia Valley R-II (rural): math 42% / reading 46% proficiency, ranked #115 of 324 in MO (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 31 active listings in the ZIP; 6 units permitted in Iron County in 2024 (0 in 5+ unit buildings).
• Iron County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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 (9.6% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k 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 123 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• Built in 1970 — 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.
• 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.
• 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.