507 Hope St

Monroe City, MO 63456

$1C-

3 bd · 1.5 ba · 1,600 sqft · Built 1972 · Other · Active · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,114/mo
• Mortgage (P&I): −$0
• Tax + insurance: −$0
• HOA: −$0
• Vac / Maint / Mgmt: −$234
• Net cashflow: $880/mo
• Annual: $10,558/yr
• Cap rate: 1055785.60%
• Cash-on-cash: 3770640.38%
• DSCR: 167773.28
• 1% rule: 111370.00%
• Cash to close: $0

Investor read

• This is a 3-bed/1.5-bath other listed at $1.
• At list price, monthly cash flow is $880 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Location reads 64/100 on livability (#303 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment C-, amenities F, commute F.
• Monroe City R-I (rural): math 47% / reading 50% proficiency, ranked #58 of 324 in MO (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Monroe City Elem. (math 57% / reading 47%, grade C-, #231 of 1,115 statewide, top 24%, 316 students, 57% FRL); Monroe City R-I High (math 42% / reading 47%, grade F, #179 of 521 statewide, top 39%, 257 students, 37% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: 64 active listings in the ZIP; 2 units permitted in Monroe County in 2024 (0 in 5+ unit buildings).
• Monroe County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $0 cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 1055785.6% vs local median 4.0% in Monroe City — 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

• Built in 1972 — 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.
• 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.