1847 US 61

Portageville, MO 63873

$114,500C+

3 bd · 1.5 ba · 1,440 sqft · Built 1975 · Other · Active · 179 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,095/mo
• Mortgage (P&I): −$600
• Tax + insurance: −$104
• HOA: −$0
• Vac / Maint / Mgmt: −$230
• Net cashflow: $161/mo
• Annual: $1,926/yr
• Cap rate: 7.98%
• Cash-on-cash: 6.01%
• DSCR: 1.27
• 1% rule: 0.96%
• Cash to close: $32,060

Investor read

• This is a 3-bed/1.5-bath other listed at $114k.
• At list price, monthly cash flow is $161 ($2k/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 $110k (4.3% below list).
• It's been on market 179 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• In year one you build about $12k of equity ($792 loan paydown + $11k appreciation (10.0% local appreciation)).
• Location reads 66/100 on livability (#250 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: health & safety C-, amenities F, commute F.
• Portageville (town): math 41% / reading 48% proficiency, ranked #110 of 324 in MO (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Portageville Elem. (math 52% / reading 47%, grade D, #284 of 1,115 statewide, top 30%, 295 students, 99% FRL); Portageville High (math 36% / reading 48%, grade F, #218 of 521 statewide, top 45%, 373 students, 59% FRL) — zoned schools average 79% FRL vs 55% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 17 active listings in the ZIP; 11 units permitted in New Madrid County in 2024 (0 in 5+ unit buildings).
• New Madrid County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 179 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1975 — 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.
• 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.