19050 Sikes Rd

Ste. Genevieve, MO 63670

$107,000C

3 bd · 2.0 ba · 1,404 sqft · Built 2001 · Other · Pending · 196 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,105/mo
• Mortgage (P&I): −$561
• Tax + insurance: −$74
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $238/mo
• Annual: $2,855/yr
• Cap rate: 8.96%
• Cash-on-cash: 9.53%
• DSCR: 1.42
• 1% rule: 1.03%
• Cash to close: $29,960

Investor read

• This is a 3-bed/2.0-bath other listed at $107k.
• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $107k).
• It's been on market 196 days — a 12% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $740 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Ste. Genevieve County R-II (town): math 46% / reading 50% proficiency, ranked #59 of 324 in MO (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ste. Genevieve Elem. (math 50% / reading 48%, grade D, #331 of 1,115 statewide, top 30%, 550 students, 44% FRL); Ste. Genevieve Sr. High (math 22% / reading 67%, grade F, #179 of 521 statewide, top 39%, 517 students, 34% FRL) — zoned schools at 39% FRL track the district average.
• Market conditions: 54 active listings in the ZIP; 8 units permitted in Ste. Genevieve County in 2024 (0 in 5+ unit buildings).
• Ste. Genevieve County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 5 sale attempts; this cycle's ask has dropped $58k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Questions for listing agent

• It's been on market 196 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• 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.