10240 Lawrence 1000

La Russell, MO 64848

$155,000C-

3 bd · 1.0 ba · 1,768 sqft · Built 1988 · Manufactured · Active · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,193/mo
• Mortgage (P&I): −$813
• Tax + insurance: −$95
• HOA: −$0
• Vac / Maint / Mgmt: −$251
• Net cashflow: $35/mo
• Annual: $417/yr
• Cap rate: 6.56%
• Cash-on-cash: 0.96%
• DSCR: 1.04
• 1% rule: 0.77%
• Cash to close: $43,400

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $155k.
• At list price, monthly cash flow is $35 ($417/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 $119k (23.0% below list).
• It's been on market 55 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (23.0% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.3% local appreciation)).
• Location reads 51/100 on livability (#871 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing D+, schools D-, crime F.
• Sarcoxie R-II (rural): math 30% / reading 32% proficiency, ranked #265 of 324 in MO (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 5 active listings in the ZIP; 67 units permitted in Lawrence County in 2024 (35 in 5+ unit buildings).
• Lawrence County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 12y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.3% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k 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.

Questions for listing agent

• It's been on market 55 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.