317 E Pine St

Drexel, MO 64742

$149,900D

3 bd · 1.0 ba · 1,178 sqft · Built 1910 · SingleFamily · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,107/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$148
• HOA: −$0
• Vac / Maint / Mgmt: −$233
• Net cashflow: $-59/mo
• Annual: $-706/yr
• Cap rate: 5.82%
• Cash-on-cash: -1.68%
• DSCR: 0.93
• 1% rule: 0.74%
• Cash to close: $41,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $-59 ($-706/yr) — negative.
• To cash-flow at today's rent, offer at most $140k (6.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (26.1% below list).
• It's been on market 35 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $111k (26.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 53/100 on livability (#822 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: employment D+, schools F, crime F.
• Drexel R-IV (rural): math 25% / reading 40% proficiency, ranked #412 of 535 in MO (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 33 active listings in the ZIP; 588 units permitted in Cass County in 2024 (0 in 5+ unit buildings).
• Cass County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

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 35 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Built in 1910 — 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?
• 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.