1105 Hicks Ave

Golden City, MO 64748

$80,000B+

2 bd · 2.0 ba · 1,872 sqft · Built 1937 · Other · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,048/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$74
• HOA: −$0
• Vac / Maint / Mgmt: −$220
• Net cashflow: $334/mo
• Annual: $4,014/yr
• Cap rate: 11.31%
• Cash-on-cash: 17.92%
• DSCR: 1.80
• 1% rule: 1.31%
• Cash to close: $22,400

Investor read

• This is a 2-bed/2.0-bath other listed at $80k.
• At list price, monthly cash flow is $334 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $7k of equity ($553 loan paydown + $7k appreciation (8.4% local appreciation)).
• Location reads 56/100 on livability (#696 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: schools F, crime F, amenities F.
• Golden City R-III (rural): math 30% / reading 35% proficiency, ranked #435 of 535 in MO (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 23 active listings in the ZIP; 6 units permitted in Barton County in 2024 (0 in 5+ unit buildings).
• Barton County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $16k; list at $80k implies a 388% gain — meaningful room to come down on a strong offer.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1937 — 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?
• 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.