9562 Highway C

Harviell, MO 63901

$129,500C-

3 bd · 2.0 ba · 1,624 sqft · Built 1920 · SingleFamily · Active · 195 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,271/mo
• Mortgage (P&I): −$679
• Tax + insurance: −$216
• HOA: −$0
• Vac / Maint / Mgmt: −$267
• Net cashflow: $109/mo
• Annual: $1,309/yr
• Cap rate: 7.30%
• Cash-on-cash: 3.61%
• DSCR: 1.16
• 1% rule: 0.98%
• Cash to close: $36,260

Investor read

• This is a 3-bed/2.0-bath single-family listed at $130k. Condition is rated fair.
• At list price, monthly cash flow is $109 ($1k/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 $127k (1.9% below list).
• It's been on market 195 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $895 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 32/100 on livability (#1,019 in MO) — a limited-amenity area; tenant pool skews transient or value-seeking. Strengths: cost of living A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Neelyville R-IV (rural): math 47% / reading 58% proficiency, ranked #33 of 324 in MO (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Neelyville Elem. (math 57% / reading 57%, grade C+, #159 of 1,115 statewide, top 16%, 214 students, 64% FRL); Neelyville High (math 37% / reading 57%, grade D-, #155 of 521 statewide, top 32%, 271 students, 51% FRL) — zoned schools at 57% FRL track the district average.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 277 active listings in the ZIP; 63 units permitted in Butler County in 2024 (48 in 5+ unit buildings).
• Butler County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Questions for listing agent

• It's been on market 195 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1920 — 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.

Repairs flagged (vision-AI assessment)

• Major: kitchen cabinets — poor condition
• Major: kitchen countertops — poor condition
• Major: bathroom fixtures — poor condition
• Major: interior walls — dated wood paneling and wallpaper