303 Trigg Ave

Blackwater, MO 65322

$124,900D+

2 bd · 1.0 ba · 884 sqft · Built 1930 · Other · Pending · 103 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $952/mo
• Mortgage (P&I): −$655
• Tax + insurance: −$77
• HOA: −$0
• Vac / Maint / Mgmt: −$200
• Net cashflow: $20/mo
• Annual: $243/yr
• Cap rate: 6.49%
• Cash-on-cash: 0.69%
• DSCR: 1.03
• 1% rule: 0.76%
• Cash to close: $34,972

Investor read

• This is a 2-bed/1.0-bath other listed at $125k.
• At list price, monthly cash flow is $20 ($243/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $95k (23.8% below list).
• It's been on market 103 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $95k (23.8% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($864 loan paydown + $766 appreciation (0.6% local appreciation)).
• Location reads 59/100 on livability (#559 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment C-, schools D, crime F.
• Blackwater R-II (rural): math 35% / reading 35% proficiency, ranked #381 of 535 in MO (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 10 units permitted in Cooper County in 2024 (0 in 5+ unit buildings).
• Cooper County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $25k; list at $125k implies a 400% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• It's been on market 103 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.