317 Main St

Steele, MO 63877

$49,500B

2 bd · 1.0 ba · 1,332 sqft · Built 1940 · SingleFamily · Active · 116 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,077/mo
• Mortgage (P&I): −$260
• Tax + insurance: −$82
• HOA: −$0
• Vac / Maint / Mgmt: −$226
• Net cashflow: $509/mo
• Annual: $6,102/yr
• Cap rate: 18.62%
• Cash-on-cash: 44.03%
• DSCR: 2.96
• 1% rule: 2.18%
• Cash to close: $13,860

Investor read

• This is a 2-bed/1.0-bath single-family listed at $50k. Condition is rated fair.
• At list price, monthly cash flow is $509 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• It's been on market 116 days — a 9% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $45k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.6%/yr); year-one equity from $342 of loan paydown is wiped out by about $794 of value loss. Plan a longer hold.
• Location reads 57/100 on livability (#642 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: health & safety C-, crime F, amenities F.
• South Pemiscot County R-V (rural): math 10% / reading 31% proficiency, ranked #305 of 324 in MO (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Central Elementary (math 12% / reading 22%, grade F, #967 of 1,115 statewide, top 88%, 261 students, 100% FRL); South Pemiscot High (math 2% / reading 42%, grade F, #459 of 521 statewide, top 88%, 245 students, 100% FRL) — zoned schools average 100% FRL vs 68% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 8 active listings in the ZIP; 17 units permitted in Pemiscot County in 2024 (10 in 5+ unit buildings).
• Pemiscot County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 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.
• At projected returns (-1.6% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.
• 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.

Questions for listing agent

• It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1940 — 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 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — existing shingles show wear
• Major: exterior siding — existing siding shows wear
• Major: HVAC/mechanicals — existing heating and cooling system appears old