112 W Santa Fe St

Marceline, MO 64658

$91,000A-

2 bd · 1.0 ba · 1,357 sqft · Built 1920 · SingleFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,053/mo
• Mortgage (P&I): −$477
• Tax + insurance: −$71
• HOA: −$0
• Vac / Maint / Mgmt: −$221
• Net cashflow: $284/mo
• Annual: $3,409/yr
• Cap rate: 10.04%
• Cash-on-cash: 13.38%
• DSCR: 1.60
• 1% rule: 1.16%
• Cash to close: $25,480

Investor read

• This is a 2-bed/1.0-bath single-family listed at $91k.
• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $91k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $10k of equity ($629 loan paydown + $9k appreciation (9.8% local appreciation)).
• Location reads 72/100 on livability (#96 in MO) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Marceline R-V (rural): math 64% / reading 59% proficiency, ranked #13 of 324 in MO (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Walt Disney Elem. (math 67% / reading 57%, grade B, #98 of 1,115 statewide, top 10%, 319 students, 47% FRL); Marceline Middle (math 72% / reading 57%, grade A-, #5 of 391 statewide, top 2%, 135 students, 42% FRL); Marceline High (math 42% / reading 64%, grade C-, #86 of 521 statewide, top 17%, 204 students, 31% FRL).
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 22 active listings in the ZIP; 4 units permitted in Linn County in 2024 (0 in 5+ unit buildings).
• Linn County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $38k; list at $91k implies a 139% gain — meaningful room to come down on a strong offer.
• At projected returns (9.8% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1920 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.