606 W Locust St

Plattsburg, MO 64477

$99,900C-

1 bd · 1.0 ba · 909 sqft · Built 1943 · SingleFamily · Active · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $860/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$72
• HOA: −$0
• Vac / Maint / Mgmt: −$181
• Net cashflow: $83/mo
• Annual: $999/yr
• Cap rate: 7.29%
• Cash-on-cash: 3.57%
• DSCR: 1.16
• 1% rule: 0.86%
• Cash to close: $27,972

Investor read

• This is a 1-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $83 ($999/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $86k (14.0% below list).
• It's been on market 49 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $86k (14.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#145 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Clinton County R-III (rural): math 21% / reading 39% proficiency, ranked #257 of 324 in MO (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Plattsburg High (math 5% / reading 44%, grade F, #436 of 521 statewide, top 85%, 174 students, 31% FRL) — zoned schools at 31% FRL track the district average.
• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 38 active listings in the ZIP; 67 units permitted in Clinton County in 2024 (0 in 5+ unit buildings).
• Clinton County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 6 sale attempts since 26y 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.

Questions for listing agent

• It's been on market 49 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Built in 1943 — 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.