522 E Bartlett St

La Plata, MO 63549

$69,900B

3 bd · 1.0 ba · 1,130 sqft · Built 1915 · Other · Pending · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $994/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$59
• HOA: −$0
• Vac / Maint / Mgmt: −$209
• Net cashflow: $359/mo
• Annual: $4,313/yr
• Cap rate: 12.46%
• Cash-on-cash: 22.04%
• DSCR: 1.98
• 1% rule: 1.42%
• Cash to close: $19,572

Investor read

• This is a 3-bed/1.0-bath other listed at $70k.
• At list price, monthly cash flow is $359 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($994 rent vs $70k).
• It's been on market 34 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($483 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 69/100 on livability (#161 in MO) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: schools C-, employment D+, amenities F.
• La Plata R-II (rural): math 45% / reading 45% proficiency, ranked #220 of 535 in MO (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 20 active listings in the ZIP; 26 units permitted in Macon County in 2024 (19 in 5+ unit buildings).
• Macon County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 10y 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 (3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1915 — 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.
• 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.