1010 Mead Ln

Iron Mountain Lake, MO 63650

$60,000B+

4 bd · 1.0 ba · 1,328 sqft · Built 2024 · SingleFamily · Active · 70 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,311/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$100
• HOA: −$50
• Vac / Maint / Mgmt: −$275
• Net cashflow: $571/mo
• Annual: $6,857/yr
• Cap rate: 17.72%
• Cash-on-cash: 40.81%
• DSCR: 2.82
• 1% rule: 2.19%
• Cash to close: $16,800

Investor read

• This is a 4-bed/1.0-bath single-family listed at $60k. Condition is rated good.
• At list price, monthly cash flow is $571 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• It's been on market 70 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($415 loan paydown + $6k appreciation (9.6% local appreciation)).
• Location reads 44/100 on livability (#966 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: schools F, crime F, amenities F.
• Bismarck R-V (rural): math 18% / reading 31% proficiency, ranked #292 of 324 in MO (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 31 active listings in the ZIP; 134 units permitted in St. Francois County in 2024 (32 in 5+ unit buildings).
• At projected returns (9.6% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 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.

Questions for listing agent

• It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: staircase — plywood steps need securing
• Minor: exterior siding — slight wear on blue siding