307 E Water St

Wellsville, MO 63384

$99,900C+

2 bd · 1.0 ba · 1,320 sqft · Built 1910 · Other · Coming Soon · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,052/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$81
• HOA: −$0
• Vac / Maint / Mgmt: −$221
• Net cashflow: $226/mo
• Annual: $2,712/yr
• Cap rate: 9.01%
• Cash-on-cash: 9.70%
• DSCR: 1.43
• 1% rule: 1.05%
• Cash to close: $27,972

Investor read

• This is a 2-bed/1.0-bath other listed at $100k.
• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $5k of equity ($691 loan paydown + $4k appreciation (3.9% local appreciation)).
• Location reads 65/100 on livability (#275 in MO) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Wellsville Middletown R-I (rural): math 25% / reading 40% proficiency, ranked #433 of 535 in MO (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wellsville-Middletown Elem. (math 37% / reading 27%, grade F, #761 of 1,115 statewide, top 72%, 148 students, 60% FRL); Wellsville-Middletown Hs (math 37% / reading 42%, grade F, #247 of 521 statewide, top 55%, 163 students, 53% FRL).
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; 47 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).
• Montgomery County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 11y ago; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1910 — 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 F-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.