320 S Vine St

Milan, MO 63556

$129,000C-

3 bd · 1.0 ba · 1,690 sqft · Built 1981 · SingleFamily · Pending · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,112/mo
• Mortgage (P&I): −$676
• Tax + insurance: −$105
• HOA: −$0
• Vac / Maint / Mgmt: −$234
• Net cashflow: $97/mo
• Annual: $1,168/yr
• Cap rate: 7.20%
• Cash-on-cash: 3.23%
• DSCR: 1.14
• 1% rule: 0.86%
• Cash to close: $36,120

Investor read

• This is a 3-bed/1.0-bath single-family listed at $129k.
• At list price, monthly cash flow is $97 ($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 $111k (13.8% below list).
• It's been on market 15 days — a 2% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $111k (13.8% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($892 loan paydown + $4k appreciation (3.2% local appreciation)).
• Location reads 64/100 on livability (#305 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.
• Milan C-2 (rural): math 29% / reading 37% proficiency, ranked #245 of 324 in MO (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Milan Elem. (math 32% / reading 32%, grade F, #761 of 1,115 statewide, top 72%, 356 students, 63% FRL); Milan High (math 27% / reading 37%, grade F, #356 of 521 statewide, top 71%, 297 students, 60% FRL) — zoned schools at 62% FRL track the district average.
• Market conditions: 48 active listings in the ZIP.
• Sullivan County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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.