824 St. Anne

New Madrid, MO 63869

$107,500D+

3 bd · 1.0 ba · 1,070 sqft · Built 1976 · Other · Active · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $862/mo
• Mortgage (P&I): −$564
• Tax + insurance: −$92
• HOA: −$0
• Vac / Maint / Mgmt: −$181
• Net cashflow: $25/mo
• Annual: $304/yr
• Cap rate: 6.58%
• Cash-on-cash: 1.01%
• DSCR: 1.04
• 1% rule: 0.80%
• Cash to close: $30,100

Investor read

• This is a 3-bed/1.0-bath other listed at $108k.
• At list price, monthly cash flow is $25 ($304/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 $86k (19.8% below list).
• It's been on market 29 days — a 2% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $86k (19.8% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($743 loan paydown + $11k appreciation (10.0% local appreciation)).
• Location reads 64/100 on livability (#309 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: health & safety C-, crime D, amenities F.
• New Madrid County R-I (rural): math 20% / reading 31% proficiency, ranked #291 of 324 in MO (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: New Madrid Elementary (math 37% / reading 32%, grade F, #676 of 1,115 statewide, top 66%, 280 students, 100% FRL); Central High School (math 2% / reading 32%, grade F, #483 of 521 statewide, top 93%, 400 students, 100% FRL) — zoned schools average 100% FRL vs 63% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 15 active listings in the ZIP; 11 units permitted in New Madrid County in 2024 (0 in 5+ unit buildings).
• New Madrid County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1976 — 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 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?
• Crime grade is D 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.
• 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.