26485 Stone Rd

Waynesville, MO 65556

$90,000C+

2 bd · 1.0 ba · 1,440 sqft · Built 1970 · Other · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $949/mo
• Mortgage (P&I): −$472
• Tax + insurance: −$76
• HOA: −$0
• Vac / Maint / Mgmt: −$199
• Net cashflow: $203/mo
• Annual: $2,431/yr
• Cap rate: 8.99%
• Cash-on-cash: 9.65%
• DSCR: 1.43
• 1% rule: 1.05%
• Cash to close: $25,200

Investor read

• This is a 2-bed/1.0-bath other listed at $90k.
• At list price, monthly cash flow is $203 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($949 rent vs $90k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $7k of equity ($622 loan paydown + $6k appreciation (6.6% local appreciation)).
• Location reads 64/100 on livability (#322 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• Laquey R-V (rural): math 14% / reading 24% proficiency, ranked #303 of 324 in MO (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Laquey R-V Elem. (math 12% / reading 27%, grade F, #941 of 1,115 statewide, top 86%, 303 students, 64% FRL); Laquey R-V High (math 17% / reading 22%, grade F, #478 of 521 statewide, top 92%, 312 students, 53% FRL).
• Market conditions: 54 active listings in the ZIP; 62 units permitted in Pulaski County in 2024 (0 in 5+ unit buildings).
• 3 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $51k; list at $90k implies a 76% gain — meaningful room to come down on a strong offer.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 9.0% vs local median 4.0% in Waynesville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• Built in 1970 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.