631 Leidy St

Cosby, MO 64436

$154,900C-

2 bd · 1.0 ba · 1,587 sqft · Built 1900 · SingleFamily · Pending · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,365/mo
• Mortgage (P&I): −$812
• Tax + insurance: −$171
• HOA: −$0
• Vac / Maint / Mgmt: −$287
• Net cashflow: $95/mo
• Annual: $1,136/yr
• Cap rate: 7.03%
• Cash-on-cash: 2.62%
• DSCR: 1.12
• 1% rule: 0.88%
• Cash to close: $43,372

Investor read

• This is a 2-bed/1.0-bath single-family listed at $155k.
• At list price, monthly cash flow is $95 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (11.9% below list).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $136k (11.9% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (2.0% local appreciation)).
• Location reads 60/100 on livability (#460 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime F, amenities F.
• Savannah R-III (rural): math 43% / reading 46% proficiency, ranked #95 of 324 in MO (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Savannah Middle (math 53% / reading 50%, grade C, #57 of 391 statewide, top 15%, 530 students, 38% FRL); Savannah High (math 32% / reading 47%, grade F, #247 of 521 statewide, top 55%, 712 students, 22% FRL) — zoned schools at 30% FRL track the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; 4 units permitted in Andrew County in 2024 (0 in 5+ unit buildings).
• Andrew County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 10 sale attempts since 22y 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 (2.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1900 — 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.
• 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.