1014 Sycamore St

Carthage, MO 64836

$115,000D

2 bd · 1.0 ba · 890 sqft · Built 1950 · Other · Pending · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $778/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$84
• HOA: −$0
• Vac / Maint / Mgmt: −$163
• Net cashflow: $-73/mo
• Annual: $-877/yr
• Cap rate: 5.53%
• Cash-on-cash: -2.72%
• DSCR: 0.88
• 1% rule: 0.68%
• Cash to close: $32,200

Investor read

• This is a 2-bed/1.0-bath other listed at $115k.
• At list price, monthly cash flow is $-73 ($-877/yr) — negative.
• To cash-flow at today's rent, offer at most $102k (11.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $78k (32.4% below list).
• It's been on market 28 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $78k (32.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#131 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: amenities F, commute F, employment F.
• Carthage R-IX (town): math 37% / reading 39% proficiency, ranked #183 of 324 in MO (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Columbian Elem. (math 22% / reading 22%, grade F, #910 of 1,115 statewide, top 83%, 379 students, 87% FRL); Carthage Jr. High (math 38% / reading 41%, grade F, #189 of 391 statewide, top 51%, 752 students, 64% FRL) — zoned schools average 76% FRL vs 56% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 195 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 602 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).
• 4 sale attempts 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.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent is only 15% of the median local income ($61k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1950 — 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 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.