614 Lyon St

Hannibal, MO 63401

$19,900B-

1 bd · 1.0 ba · 864 sqft · Built 1890 · Other · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $829/mo
• Mortgage (P&I): −$104
• Tax + insurance: −$26
• HOA: −$0
• Vac / Maint / Mgmt: −$174
• Net cashflow: $524/mo
• Annual: $6,289/yr
• Cap rate: 37.90%
• Cash-on-cash: 112.87%
• DSCR: 6.02
• 1% rule: 4.16%
• Cash to close: $5,572

Investor read

• This is a 1-bed/1.0-bath other listed at $20k.
• At list price, monthly cash flow is $524 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($829 rent vs $20k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $138 of loan paydown is wiped out by about $597 of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#81 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, employment D, amenities F.
• Hannibal 60 (town): math 38% / reading 44% proficiency, ranked #142 of 324 in MO (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: A. D. Stowell Elem. (math 32% / reading 37%, grade F, #676 of 1,115 statewide, top 66%, 209 students, 72% FRL); Hannibal Sr. High (math 29% / reading 37%, grade F, #351 of 521 statewide, top 68%, 1,052 students, 49% FRL).
• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 108 active listings in the ZIP; 38 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
• Marion County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 37.9% vs local median 3.4% in Hannibal — 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 1890 — 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.
• Crime grade is D 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.