308 S Lyon St

Grant City, MO 64456

$70,000A-

2 bd · 1.0 ba · 1,120 sqft · Built — · Other · Active · 278 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $972/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$55
• HOA: −$0
• Vac / Maint / Mgmt: −$204
• Net cashflow: $346/mo
• Annual: $4,155/yr
• Cap rate: 12.23%
• Cash-on-cash: 21.20%
• DSCR: 1.94
• 1% rule: 1.39%
• Cash to close: $19,600

Investor read

• This is a 2-bed/1.0-bath other listed at $70k.
• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($972 rent vs $70k).
• It's been on market 278 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($484 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 65/100 on livability (#289 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment D-.
• Worth County R-III (rural): math 25% / reading 40% proficiency, ranked #425 of 535 in MO (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Worth Co. Elementary (math 37% / reading 52%, grade F, #413 of 1,115 statewide, top 42%, 149 students, 54% FRL); Worth Co. High (math 5% / reading 37%, grade F, #468 of 521 statewide, top 90%, 126 students, 44% FRL).
• Market conditions: 5 active listings in the ZIP; 4 units permitted in Worth County in 2024 (0 in 5+ unit buildings).
• Worth County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 278 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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?
• 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.