304 W Meadow Ave

Crane, MO 65633

$341,000B

30 bd · None ba · 4,277 sqft · Built 1940 · MultiFamily · Active · 76 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,216/mo
• Mortgage (P&I): −$1,788
• Tax + insurance: −$568
• HOA: −$0
• Vac / Maint / Mgmt: −$885
• Net cashflow: $974/mo
• Annual: $11,689/yr
• Cap rate: 9.72%
• Cash-on-cash: 12.24%
• DSCR: 1.54
• 1% rule: 1.24%
• Cash to close: $95,480

Investor read

• This is a 5 × 1-bed/1-bath units multifamily listed at $341k.
• At list price, monthly cash flow is $974 ($12k/yr) — positive. Per door: $195/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $341k).
• It's been on market 76 days — a 6% lower offer ($321k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $321k (6.0% below list) — sets the bar for market timing.
• In year one you build about $36k of equity ($2k loan paydown + $34k appreciation (10.0% local appreciation)).
• Location reads 62/100 on livability (#390 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B+; Watch: health & safety C-, schools F, amenities F.
• Crane R-III (rural): math 33% / reading 38% proficiency, ranked #218 of 324 in MO (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 39 active listings in the ZIP; 191 units permitted in Stone County in 2024 (0 in 5+ unit buildings).
• Stone County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $18k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $95k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$59k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk; 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 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• 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?
• 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.