310 N Davis St

Miller, MO 65707

$79,900C

2 bd · 1.0 ba · 728 sqft · Built 1945 · Other · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $820/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$59
• HOA: −$0
• Vac / Maint / Mgmt: −$172
• Net cashflow: $169/mo
• Annual: $2,032/yr
• Cap rate: 8.84%
• Cash-on-cash: 9.08%
• DSCR: 1.40
• 1% rule: 1.03%
• Cash to close: $22,372

Investor read

• This is a 2-bed/1.0-bath other listed at $80k.
• At list price, monthly cash flow is $169 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($820 rent vs $80k).
• It's been on market 17 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#405 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Miller R-II (rural): math 25% / reading 33% proficiency, ranked #276 of 324 in MO (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Central Elem. (math 37% / reading 37%, grade F, #611 of 1,115 statewide, top 59%, 300 students, 64% FRL); Miller High (math 12% / reading 32%, grade F, #462 of 521 statewide, top 90%, 288 students, 54% FRL).
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 12 active listings in the ZIP; 67 units permitted in Lawrence County in 2024 (35 in 5+ unit buildings).
• Lawrence County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 5y ago; this cycle's ask is 33% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1945 — 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 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?
• Crime grade is F 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?
• 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.