519 S Gilman Ave

Wheaton, MO 64874

$84,900C

2 bd · 1.0 ba · 1,058 sqft · Built 1930 · SingleFamily · Pending · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $964/mo
• Mortgage (P&I): −$445
• Tax + insurance: −$142
• HOA: −$0
• Vac / Maint / Mgmt: −$202
• Net cashflow: $175/mo
• Annual: $2,095/yr
• Cap rate: 8.76%
• Cash-on-cash: 8.81%
• DSCR: 1.39
• 1% rule: 1.14%
• Cash to close: $23,772

Investor read

• This is a 2-bed/1.0-bath single-family listed at $85k. Condition is rated poor.
• At list price, monthly cash flow is $175 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($964 rent vs $85k).
• It's been on market 26 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($587 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 64/100 on livability (#296 in MO) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: employment D, amenities F, commute F.
• Wheaton R-III (rural): math 26% / reading 36% proficiency, ranked #271 of 324 in MO (top 84%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wheaton Elem. (math 32% / reading 37%, grade F, #676 of 1,115 statewide, top 66%, 250 students, 58% FRL); Wheaton High (math 17% / reading 37%, grade F, #420 of 521 statewide, top 82%, 181 students, 57% FRL) — zoned schools at 57% FRL track the district average.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; 57 units permitted in Barry County in 2024 (0 in 5+ unit buildings).
• Barry County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 7y 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 (3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1930 — 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Significant wear and tear
• Major: roof — Aged appearance
• Major: HVAC/mechanicals — Likely outdated and inefficient
• Major: landscaping — Overgrown and unkempt