305 Centre St

Cooter, MO 63839

$114,900B-

4 bd · 2.0 ba · 1,516 sqft · Built 1978 · Other · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,156/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$108
• HOA: −$0
• Vac / Maint / Mgmt: −$243
• Net cashflow: $203/mo
• Annual: $2,433/yr
• Cap rate: 8.41%
• Cash-on-cash: 7.56%
• DSCR: 1.34
• 1% rule: 1.01%
• Cash to close: $32,172

Investor read

• This is a 4-bed/2.0-bath other listed at $115k.
• At list price, monthly cash flow is $203 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• It's been on market 18 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($794 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 62/100 on livability (#381 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, crime F.
• Cooter R-IV (rural): math 30% / reading 40% proficiency, ranked #385 of 535 in MO (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cooter Elem. (math 34% / reading 34%, grade F, #676 of 1,115 statewide, top 66%, 74 students, 68% FRL); Cooter High (math 5% / reading 57%, grade F, #372 of 521 statewide, top 71%, 135 students, 48% FRL).
• Market conditions: 1 active listings in the ZIP; 17 units permitted in Pemiscot County in 2024 (10 in 5+ unit buildings).
• Pemiscot County population projected at -26% 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 (3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1978 — 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 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?
• 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.