266 Ray Krebbs Ave

Belton, MO 64012

$8,000D+

3 bd · 2.0 ba · 1,216 sqft · Built 2026 · Manufactured · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,780/mo
• Mortgage (P&I): −$42
• Tax + insurance: −$13
• HOA: −$0
• Vac / Maint / Mgmt: −$374
• Net cashflow: $1,351/mo
• Annual: $16,207/yr
• Cap rate: 208.88%
• Cash-on-cash: 723.54%
• DSCR: 33.19
• 1% rule: 22.25%
• Cash to close: $2,240

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $8k.
• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $8k).
• It's been on market 19 days — a 2% lower offer ($8k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $8k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $55 of loan paydown is wiped out by about $240 of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#52 in MO, #3,782 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, schools D+, commute F.
• Belton 124 (suburban): math 28% / reading 39% proficiency, ranked #216 of 324 in MO (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.2%/yr); 204 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 588 units permitted in Cass County in 2024 (0 in 5+ unit buildings).
• Cass County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 208.9% vs local median 4.7% in Belton — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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 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.
• 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.