65 Remnant Way

Steelville, MO 65565

$35,000B

1 bd · 1.0 ba · 1,344 sqft · Built 2017 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $939/mo
• Mortgage (P&I): −$184
• Tax + insurance: −$58
• HOA: −$0
• Vac / Maint / Mgmt: −$197
• Net cashflow: $500/mo
• Annual: $5,999/yr
• Cap rate: 23.43%
• Cash-on-cash: 61.22%
• DSCR: 3.72
• 1% rule: 2.68%
• Cash to close: $9,800

Investor read

• This is a 1-bed/1.0-bath single-family listed at $35k. Condition is rated fair.
• At list price, monthly cash flow is $500 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($939 rent vs $35k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $487 of equity ($242 loan paydown + $245 appreciation (0.7% local appreciation)).
• Location reads 64/100 on livability (#320 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B+, housing B+; Watch: amenities F, commute F, employment F.
• Steelville R-III (rural): math 31% / reading 41% proficiency, ranked #217 of 324 in MO (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Steelville Elem. (math 17% / reading 27%, grade F, #910 of 1,115 statewide, top 83%, 369 students, 54% FRL); Steelville High (math 32% / reading 67%, grade D, #124 of 521 statewide, top 28%, 291 students, 49% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: 50 active listings in the ZIP; 23 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).
• Crawford County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 23.4% vs local median 1.8% in Steelville — 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?
• 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)

• Major: landscaping — Overgrown vegetation needs trimming
• Minor: exterior siding — No visible damage