210 S 2nd St

Browning, MO 64630

$47,000B+

2 bd · 1.0 ba · 1,038 sqft · Built 1900 · SingleFamily · Active · 722 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $929/mo
• Mortgage (P&I): −$246
• Tax + insurance: −$60
• HOA: −$0
• Vac / Maint / Mgmt: −$195
• Net cashflow: $427/mo
• Annual: $5,124/yr
• Cap rate: 17.20%
• Cash-on-cash: 38.94%
• DSCR: 2.73
• 1% rule: 1.98%
• Cash to close: $13,160

Investor read

• This is a 2-bed/1.0-bath single-family listed at $47k.
• At list price, monthly cash flow is $427 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($929 rent vs $47k).
• It's been on market 722 days — a 12% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $41k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($325 loan paydown + $2k appreciation (5.3% local appreciation)).
• Location reads 41/100 on livability (#985 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Linn County R-I (rural): math 40% / reading 50% proficiency, ranked #213 of 535 in MO (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 4 units permitted in Linn County in 2024 (0 in 5+ unit buildings).
• Linn County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $3k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $47k implies a 292% gain — meaningful room to come down on a strong offer.
• At projected returns (5.3% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 722 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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.