309 N Polk St

Maysville, MO 64469

$26,040B-

2 bd · 3.0 ba · 760 sqft · Built 1903 · Other · Active · 78 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,000/mo
• Mortgage (P&I): −$137
• Tax + insurance: −$40
• HOA: −$0
• Vac / Maint / Mgmt: −$210
• Net cashflow: $613/mo
• Annual: $7,361/yr
• Cap rate: 34.56%
• Cash-on-cash: 100.96%
• DSCR: 5.49
• 1% rule: 3.84%
• Cash to close: $7,291

Investor read

• This is a 2-bed/3.0-bath other listed at $26k.
• At list price, monthly cash flow is $613 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $26k).
• It's been on market 78 days — a 6% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $24k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $180 of loan paydown is wiped out by about $781 of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#262 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D+, amenities F, commute F.
• Maysville R-I (rural): math 42% / reading 53% proficiency, ranked #64 of 324 in MO (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 13 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 3 units permitted in DeKalb County in 2024 (0 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1903 — 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.