2403 Main St

Bethany, MO 64424

$79,900B

4 bd · 1.0 ba · 1,170 sqft · Built 1950 · Other · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $908/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$118
• HOA: −$0
• Vac / Maint / Mgmt: −$191
• Net cashflow: $181/mo
• Annual: $2,167/yr
• Cap rate: 9.84%
• Cash-on-cash: 12.67%
• DSCR: 1.56
• 1% rule: 1.14%
• Cash to close: $22,372

Investor read

• This is a 4-bed/1.0-bath other listed at $80k.
• At list price, monthly cash flow is $181 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($908 rent vs $80k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $6k of equity ($552 loan paydown + $5k appreciation (6.7% local appreciation)).
• Location reads 67/100 on livability (#206 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: schools D, amenities F, commute F.
• South Harrison County R-II (town): math 41% / reading 42% proficiency, ranked #131 of 324 in MO (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $56/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 12 active listings in the ZIP; 2 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).
• Harrison County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 17y 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.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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.