623 Adams St

Moscow Mills, MO 63362

$119,000B-

2 bd · 1.0 ba · 840 sqft · Built 1984 · SingleFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,251/mo
• Mortgage (P&I): −$624
• Tax + insurance: −$73
• HOA: −$0
• Vac / Maint / Mgmt: −$263
• Net cashflow: $292/mo
• Annual: $3,501/yr
• Cap rate: 9.24%
• Cash-on-cash: 10.51%
• DSCR: 1.47
• 1% rule: 1.05%
• Cash to close: $33,320

Investor read

• This is a 2-bed/1.0-bath single-family listed at $119k.
• At list price, monthly cash flow is $292 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#375 in MO) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Troy R-III (town): math 40% / reading 47% proficiency, ranked #97 of 324 in MO (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wm. R. Cappel Elem. (math 39% / reading 41%, grade F, #530 of 1,115 statewide, top 48%, 607 students, 32% FRL); Troy Buchanan High (math 40% / reading 58%, grade D, #145 of 521 statewide, top 28%, 2,188 students, 26% FRL).
• Market conditions: 92 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 149 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• Lincoln County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 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.
• Cap rate 9.2% vs local median 2.6% in Moscow Mills — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• 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.