20335 County Road 358

Flemington, MO 65650

$104,700C+

4 bd · 1.0 ba · 1,080 sqft · Built 1964 · Other · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,069/mo
• Mortgage (P&I): −$549
• Tax + insurance: −$73
• HOA: −$0
• Vac / Maint / Mgmt: −$224
• Net cashflow: $222/mo
• Annual: $2,668/yr
• Cap rate: 8.84%
• Cash-on-cash: 9.10%
• DSCR: 1.41
• 1% rule: 1.02%
• Cash to close: $29,316

Investor read

• This is a 4-bed/1.0-bath other listed at $105k.
• At list price, monthly cash flow is $222 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $7k of equity ($724 loan paydown + $7k appreciation (6.4% local appreciation)).
• Location reads 47/100 on livability (#948 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime F, amenities F, commute F.
• Wheatland R-II (rural): math 35% / reading 40% proficiency, ranked #367 of 535 in MO (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Wheatland Elem. (math 32% / reading 42%, grade F, #611 of 1,115 statewide, top 59%, 166 students, 63% FRL); Wheatland High (math 32% / reading 32%, grade F, #356 of 521 statewide, top 71%, 150 students, 67% FRL) — zoned schools at 65% FRL track the district average.
• Market conditions: 28 active listings in the ZIP.
• Hickory County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.4% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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

• Built in 1964 — 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 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.
• 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.