208 N Macon St

Clarence, MO 63437

$69,500B+

2 bd · 1.0 ba · 1,188 sqft · Built 1965 · Other · Active · 274 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,028/mo
• Mortgage (P&I): −$364
• Tax + insurance: −$63
• HOA: −$0
• Vac / Maint / Mgmt: −$216
• Net cashflow: $384/mo
• Annual: $4,612/yr
• Cap rate: 12.93%
• Cash-on-cash: 23.70%
• DSCR: 2.05
• 1% rule: 1.48%
• Cash to close: $19,460

Investor read

• This is a 2-bed/1.0-bath other listed at $70k.
• At list price, monthly cash flow is $384 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• It's been on market 274 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($481 loan paydown + $4k appreciation (5.3% local appreciation)).
• Location reads 61/100 on livability (#442 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D-, amenities F, commute F.
• Shelby County R-IV (rural): math 29% / reading 42% proficiency, ranked #224 of 324 in MO (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 6 active listings in the ZIP; 4 units permitted in Shelby County in 2024 (0 in 5+ unit buildings).
• Shelby County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.3% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 274 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1965 — 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 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.