512 W Leyda Ave

West Plains, MO 65775

$96,900B+

4 bd · 1.5 ba · 1,808 sqft · Built 1930 · SingleFamily · Pending · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,375/mo
• Mortgage (P&I): −$508
• Tax + insurance: −$74
• HOA: −$0
• Vac / Maint / Mgmt: −$289
• Net cashflow: $504/mo
• Annual: $6,049/yr
• Cap rate: 12.53%
• Cash-on-cash: 22.29%
• DSCR: 1.99
• 1% rule: 1.42%
• Cash to close: $27,132

Investor read

• This is a 4-bed/1.5-bath single-family listed at $97k.
• At list price, monthly cash flow is $504 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $97k).
• It's been on market 27 days — a 2% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $95k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $670 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#34 in MO, #2,977 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: crime C-, commute C-, amenities D.
• West Plains R-VII (rural): math 36% / reading 46% proficiency, ranked #152 of 324 in MO (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Plains Elem. (math 41% / reading 40%, grade F, #525 of 1,115 statewide, top 47%, 766 students, 66% FRL); West Plains Middle (math 33% / reading 39%, grade F, #237 of 391 statewide, top 61%, 611 students, 58% FRL); West Plains Sr. High (math 27% / reading 65%, grade D-, #170 of 521 statewide, top 33%, 1,162 students, 42% FRL) — zoned schools at 55% FRL track the district average.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 320 active listings in the ZIP; 53 units permitted in Howell County in 2024 (0 in 5+ unit buildings).
• Howell County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 12y ago 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 (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 12.5% vs local median 3.1% in West Plains — 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

• Built in 1930 — 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.