709 Elm St

Slater, MO 65349

$45,000B+

5 bd · 2.0 ba · 1,729 sqft · Built 1915 · Other · Active · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,160/mo
• Mortgage (P&I): −$236
• Tax + insurance: −$71
• HOA: −$0
• Vac / Maint / Mgmt: −$244
• Net cashflow: $610/mo
• Annual: $7,315/yr
• Cap rate: 22.55%
• Cash-on-cash: 58.05%
• DSCR: 3.58
• 1% rule: 2.58%
• Cash to close: $12,600

Investor read

• This is a 5-bed/2.0-bath other listed at $45k.
• At list price, monthly cash flow is $610 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• It's been on market 43 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($311 loan paydown + $3k appreciation (6.6% local appreciation)).
• Location reads 66/100 on livability (#241 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: schools F, amenities F, commute F.
• Slater (rural): math 15% / reading 35% proficiency, ranked #492 of 535 in MO (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 14 active listings in the ZIP; 11 units permitted in Saline County in 2024 (0 in 5+ unit buildings).
• Saline County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 43 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.
• 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?
• 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.