711 S 2nd St

Spickard, MO 64679

$69,900A-

3 bd · 1.0 ba · 1,152 sqft · Built 1960 · SingleFamily · Pending · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $995/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$73
• HOA: −$0
• Vac / Maint / Mgmt: −$209
• Net cashflow: $346/mo
• Annual: $4,156/yr
• Cap rate: 12.24%
• Cash-on-cash: 21.23%
• DSCR: 1.94
• 1% rule: 1.42%
• Cash to close: $19,572

Investor read

• This is a 3-bed/1.0-bath single-family listed at $70k.
• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($995 rent vs $70k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($483 loan paydown + $1k appreciation (2.1% local appreciation)).
• Location reads 52/100 on livability (#848 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: crime F, amenities F, commute F.
• Spickard R-II (rural): math 40% / reading 40% proficiency, ranked #324 of 535 in MO (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Spickard Elem. (math 10% / reading 30%, 18 students, 83% FRL) — zoned schools average 83% FRL vs 55% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 20% at this address vs 40% district-wide (-20 pts) — the specific schools serving this property underperform the Spickard R-II average; the district grade overstates school quality for this exact location.
• Market conditions: 5 active listings in the ZIP; 2 units permitted in Grundy County in 2024 (0 in 5+ unit buildings).
• Grundy County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1960 — 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.