804 4th St E

Scott City, MO 63780

$59,900B+

2 bd · 1.0 ba · 810 sqft · Built 1910 · Other · Active · 185 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,099/mo
• Mortgage (P&I): −$314
• Tax + insurance: −$46
• HOA: −$0
• Vac / Maint / Mgmt: −$231
• Net cashflow: $508/mo
• Annual: $6,097/yr
• Cap rate: 16.47%
• Cash-on-cash: 36.35%
• DSCR: 2.62
• 1% rule: 1.84%
• Cash to close: $16,772

Investor read

• This is a 2-bed/1.0-bath other listed at $60k.
• At list price, monthly cash flow is $508 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• It's been on market 185 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#514 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B; Watch: amenities F, commute F, employment D-.
• Scott City R-I (town): math 30% / reading 45% proficiency, ranked #193 of 324 in MO (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Scott City Elem. (math 17% / reading 27%, grade F, #910 of 1,115 statewide, top 83%, 270 students, 64% FRL); Scott City Middle (math 33% / reading 49%, grade F, #172 of 391 statewide, top 46%, 225 students, 60% FRL); Scott City High (math 42% / reading 54%, grade D, #151 of 521 statewide, top 29%, 260 students, 39% FRL) — zoned schools at 54% FRL track the district average.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 19 active listings in the ZIP; 123 units permitted in Scott County in 2024 (32 in 5+ unit buildings).
• Scott County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $58k (49%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→21/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 185 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1910 — 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.
• 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.