1106 Hicks Ave

Golden City, MO 64748

$88,000B

3 bd · 1.0 ba · 1,072 sqft · Built 1955 · Other · Pending · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,021/mo
• Mortgage (P&I): −$461
• Tax + insurance: −$60
• HOA: −$0
• Vac / Maint / Mgmt: −$214
• Net cashflow: $285/mo
• Annual: $3,422/yr
• Cap rate: 10.18%
• Cash-on-cash: 13.89%
• DSCR: 1.62
• 1% rule: 1.16%
• Cash to close: $24,640

Investor read

• This is a 3-bed/1.0-bath other listed at $88k.
• At list price, monthly cash flow is $285 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).
• It's been on market 49 days — a 3% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $85k (3.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($608 loan paydown + $7k appreciation (8.4% local appreciation)).
• Location reads 56/100 on livability (#696 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: crime F, amenities F, commute F.
• Golden City R-III (rural): math 30% / reading 35% proficiency, ranked #435 of 535 in MO (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Golden City Elem. (math 24% / reading 44%, grade F, #676 of 1,115 statewide, top 66%, 71 students, 75% FRL) — zoned schools average 75% FRL vs 54% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 23 active listings in the ZIP; 6 units permitted in Barton County in 2024 (0 in 5+ unit buildings).
• Barton County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k 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

• It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1955 — 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.