1009 Pine St

Bismarck, MO 63624

$15,000C-

4 bd · 1.0 ba · 991 sqft · Built 1940 · Other · Active · 161 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $907/mo
• Mortgage (P&I): −$79
• Tax + insurance: −$30
• HOA: −$0
• Vac / Maint / Mgmt: −$190
• Net cashflow: $608/mo
• Annual: $7,294/yr
• Cap rate: 54.92%
• Cash-on-cash: 173.66%
• DSCR: 8.73
• 1% rule: 6.05%
• Cash to close: $4,200

Investor read

• This is a 4-bed/1.0-bath other listed at $15k.
• At list price, monthly cash flow is $608 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($907 rent vs $15k).
• It's been on market 161 days — a 12% lower offer ($13k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $13k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($104 loan paydown + $2k appreciation (10.0% local appreciation)).
• Location reads 58/100 on livability (#583 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B+; Watch: schools F, amenities F, commute F.
• Bismarck R-V (rural): math 18% / reading 31% proficiency, ranked #292 of 324 in MO (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 23 active listings in the ZIP; 134 units permitted in St. Francois County in 2024 (32 in 5+ unit buildings).
• 2 sale attempts since 4y ago; this cycle's ask has dropped $5k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1940 — 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 F-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.