610 N Ellen St

Nixa, MO 65714

$250,000D-

3 bd · 2.0 ba · 1,500 sqft · Built 1996 · MultiFamily · Active · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,795/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$234
• HOA: −$0
• Vac / Maint / Mgmt: −$377
• Net cashflow: $-126/mo
• Annual: $-1,516/yr
• Cap rate: 5.69%
• Cash-on-cash: -2.17%
• DSCR: 0.90
• 1% rule: 0.72%
• Cash to close: $70,000

Investor read

• This is a 3-bed/2.0-bath multifamily listed at $250k.
• At list price, monthly cash flow is $-126 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $228k (8.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (28.2% below list).
• It's been on market 36 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $180k (28.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#68 in MO, #4,558 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Nixa Public Schools (suburban): math 66% / reading 65% proficiency, ranked #6 of 324 in MO (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: John Thomas School of Discover (math 70% / reading 68%, grade A-, #40 of 1,115 statewide, top 4%, 487 students, 19% FRL); Nixa Junior High (math 70% / reading 61%, grade A-, #3 of 391 statewide, top 1%, 1,067 students, 29% FRL); Nixa High (math 70% / reading 77%, grade B+, #6 of 521 statewide, top 1%, 1,957 students, 24% FRL) — zoned schools at 24% FRL track the district average.
• Market conditions: Rents rising fast (+5.7%/yr); 400 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 537 units permitted in Christian County in 2024 (0 in 5+ unit buildings).
• Christian County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.
• Cap rate 5.7% vs local median 3.6% in Nixa — 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 36 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.