301 S Gex St

La Plata, MO 63549

$159,900D-

3 bd · None ba · 1,278 sqft · Built 2023 · Other · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,060/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$119
• HOA: −$0
• Vac / Maint / Mgmt: −$223
• Net cashflow: $-120/mo
• Annual: $-1,445/yr
• Cap rate: 5.39%
• Cash-on-cash: -3.23%
• DSCR: 0.86
• 1% rule: 0.66%
• Cash to close: $44,772

Investor read

• This is a 3-bed/?-bath other listed at $160k.
• At list price, monthly cash flow is $-120 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (13.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (33.7% below list).
• It's been on market 26 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $106k (33.7% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $5k 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.
• 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.
• 5 sale attempts since 12y 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.
• By year 6, paydown + projected appreciation supports a ~$31k 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?
• 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.
• 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.