900 E Main St

Princeton, MO 64673

$130,000C

4 bd · 2.5 ba · 2,368 sqft · Built 1903 · Other · Active · 935 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,286/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$120
• HOA: −$0
• Vac / Maint / Mgmt: −$270
• Net cashflow: $214/mo
• Annual: $2,573/yr
• Cap rate: 8.27%
• Cash-on-cash: 7.07%
• DSCR: 1.31
• 1% rule: 0.99%
• Cash to close: $36,400

Investor read

• This is a 4-bed/2.5-bath other listed at $130k.
• At list price, monthly cash flow is $214 ($3k/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 $129k (1.1% below list).
• It's been on market 935 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($899 loan paydown + $761 appreciation (0.6% local appreciation)).
• Location reads 63/100 on livability (#355 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B+, housing B+; Watch: employment D+, amenities F, commute F.
• Princeton R-V (rural): math 50% / reading 45% proficiency, ranked #158 of 535 in MO (top 30%) — 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: 24 active listings in the ZIP.
• Mercer County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 935 days. Have you received any prior offers? Is the seller open to a 12% 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.
• 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.