675 N Dade 181

Greenfield, MO 65661

$149,000D-

2 bd · 2.0 ba · 1,216 sqft · Built 1997 · Manufactured · Active · 282 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,016/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$87
• HOA: −$0
• Vac / Maint / Mgmt: −$213
• Net cashflow: $-66/mo
• Annual: $-793/yr
• Cap rate: 5.76%
• Cash-on-cash: -1.90%
• DSCR: 0.92
• 1% rule: 0.68%
• Cash to close: $41,720

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $149k.
• At list price, monthly cash flow is $-66 ($-793/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (7.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (31.8% below list).
• It's been on market 282 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $102k (31.8% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 56/100 on livability (#707 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A, crime B+; Watch: amenities F, commute F, employment F.
• Greenfield R-IV (rural): math 40% / reading 45% proficiency, ranked #283 of 535 in MO (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Greenfield Elem. (math 42% / reading 37%, grade F, #537 of 1,115 statewide, top 53%, 206 students, 52% FRL); Greenfield High (math 17% / reading 52%, grade F, #321 of 521 statewide, top 67%, 143 students, 52% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: 38 active listings in the ZIP.
• Dade County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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 $42k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k 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.
• Cap rate 5.8% vs local median 4.8% in Greenfield — 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 282 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
• 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.