304 E Benton St

Windsor, MO 65360

$135,000C-

4 bd · 1.5 ba · 1,100 sqft · Built 1900 · Other · Active · 64 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $943/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$113
• HOA: −$0
• Vac / Maint / Mgmt: −$198
• Net cashflow: $-76/mo
• Annual: $-909/yr
• Cap rate: 5.62%
• Cash-on-cash: -2.41%
• DSCR: 0.89
• 1% rule: 0.70%
• Cash to close: $37,800

Investor read

• This is a 4-bed/1.5-bath other listed at $135k.
• At list price, monthly cash flow is $-76 ($-909/yr) — negative.
• To cash-flow at today's rent, offer at most $122k (9.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $94k (30.2% below list).
• It's been on market 64 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (30.2% below list) — sets the bar for 1% rule.
• In year one you build about $14k of equity ($933 loan paydown + $14k appreciation (10.0% local appreciation)).
• Location reads 65/100 on livability (#288 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D+, schools F, amenities F.
• Henry County R-I (town): math 27% / reading 34% proficiency, ranked #270 of 324 in MO (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 46 active listings in the ZIP; 15 units permitted in Henry County in 2024 (0 in 5+ unit buildings).
• Henry County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 11y 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 (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 5.6% vs local median 4.4% in Windsor — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 64 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.