207 Morgan

Doniphan, MO 63935

$59,900A-

2 bd · 1.0 ba · 1,121 sqft · Built 1950 · SingleFamily · Active · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $977/mo
• Mortgage (P&I): −$314
• Tax + insurance: −$100
• HOA: −$0
• Vac / Maint / Mgmt: −$205
• Net cashflow: $358/mo
• Annual: $4,298/yr
• Cap rate: 13.47%
• Cash-on-cash: 25.62%
• DSCR: 2.14
• 1% rule: 1.63%
• Cash to close: $16,772

Investor read

• This is a 2-bed/1.0-bath single-family listed at $60k. Condition is rated fair.
• At list price, monthly cash flow is $358 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($977 rent vs $60k).
• It's been on market 30 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($414 loan paydown + $3k appreciation (5.1% local appreciation)).
• Location reads 59/100 on livability (#568 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: health & safety C-, amenities F, commute F.
• Doniphan R-I (rural): math 27% / reading 39% proficiency, ranked #254 of 324 in MO (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Doniphan Elem. (378 students, 99% FRL); Doniphan High (math 54% / reading 57%, grade C, #61 of 521 statewide, top 12%, 476 students, 99% FRL) — zoned schools average 99% FRL vs 63% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 56% at this address vs 33% district-wide (+23 pts) — the actual schools serving this property are materially stronger than the Doniphan R-I average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 127 active listings in the ZIP.
• Ripley County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 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 (5.1% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 13.5% vs local median 2.6% in Doniphan — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1950 — 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?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — The cabinets are in good condition but could benefit from a fresh coat of paint.
• Minor: Bathroom vanity — The vanity is in good condition but could benefit from a fresh coat of paint.
• Minor: Exterior siding — The siding is in fair condition but could benefit from a fresh coat of paint.
• Minor: Flooring — The flooring is in average condition but could benefit from a fresh coat of paint.
• Minor: Interior walls — The walls are in average condition but could benefit from a fresh coat of paint.