17614 Elwood Junction Rd

Neosho, MO 64850

$325,000F

2 bd · 5.0 ba · 2,184 sqft · Built 1967 · Townhouse · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,168/mo
• Mortgage (P&I): −$1,704
• Tax + insurance: −$238
• HOA: −$0
• Vac / Maint / Mgmt: −$245
• Net cashflow: $-1,020/mo
• Annual: $-12,236/yr
• Cap rate: 2.53%
• Cash-on-cash: -13.45%
• DSCR: 0.40
• 1% rule: 0.36%
• Cash to close: $91,000

Investor read

• This is a 2-bed/5.0-bath townhouse listed at $325k.
• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (55.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (64.1% below list).
• It's been on market 24 days — a 2% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $117k (64.1% 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 $10k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#103 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, employment D, amenities F.
• Neosho School District (town): math 36% / reading 48% proficiency, ranked #125 of 324 in MO (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 199 active listings in the ZIP; 110 units permitted in Newton County in 2024 (40 in 5+ unit buildings).
• Newton County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 2y 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.
• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

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?
• Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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 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.