2103 Main St

Bethany, MO 64424

$28,500B+

4 bd · 2.0 ba · 2,330 sqft · Built 1915 · Other · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,011/mo
• Mortgage (P&I): −$149
• Tax + insurance: −$86
• HOA: −$0
• Vac / Maint / Mgmt: −$212
• Net cashflow: $563/mo
• Annual: $6,757/yr
• Cap rate: 30.00%
• Cash-on-cash: 84.68%
• DSCR: 4.77
• 1% rule: 3.55%
• Cash to close: $7,980

Investor read

• This is a 4-bed/2.0-bath other listed at $28k.
• At list price, monthly cash flow is $563 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $28k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($197 loan paydown + $2k appreciation (6.7% local appreciation)).
• Location reads 67/100 on livability (#206 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: schools D, amenities F, commute F.
• South Harrison County R-II (town): math 41% / reading 42% proficiency, ranked #131 of 324 in MO (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 3.1% of price; built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 12 active listings in the ZIP; 2 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).
• Harrison County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 21y 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.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.