1200 Hicks Ave

Golden City, MO 64748

$27,500B+

2 bd · 1.0 ba · 995 sqft · Built 1960 · Other · Active · 106 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $889/mo
• Mortgage (P&I): −$144
• Tax + insurance: −$33
• HOA: −$0
• Vac / Maint / Mgmt: −$187
• Net cashflow: $525/mo
• Annual: $6,298/yr
• Cap rate: 29.19%
• Cash-on-cash: 81.79%
• DSCR: 4.64
• 1% rule: 3.23%
• Cash to close: $7,700

Investor read

• This is a 2-bed/1.0-bath other listed at $28k.
• At list price, monthly cash flow is $525 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($889 rent vs $28k).
• It's been on market 106 days — a 9% lower offer ($25k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $25k (9.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($190 loan paydown + $2k appreciation (8.4% local appreciation)).
• Location reads 56/100 on livability (#696 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: schools F, crime F, amenities F.
• Golden City R-III (rural): math 30% / reading 35% proficiency, ranked #435 of 535 in MO (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 23 active listings in the ZIP; 6 units permitted in Barton County in 2024 (0 in 5+ unit buildings).
• Barton County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $28k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• 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

• It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1960 — 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?
• 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.