17311 E US Highway 40 Site Unit G26

Independence, MO 64055

$93,900B

3 bd · 2.0 ba · 1,056 sqft · Built 2026 · Manufactured · Active · 65 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,740/mo
• Mortgage (P&I): −$492
• Tax + insurance: −$156
• HOA: −$0
• Vac / Maint / Mgmt: −$365
• Net cashflow: $725/mo
• Annual: $8,705/yr
• Cap rate: 15.56%
• Cash-on-cash: 33.11%
• DSCR: 2.47
• 1% rule: 1.85%
• Cash to close: $26,292

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $94k. Condition is rated fair.
• At list price, monthly cash flow is $725 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $94k).
• It's been on market 65 days — a 6% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $649 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#10 in MO, #1,296 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D+, crime F.
• Independence 30 (suburban): math 26% / reading 38% proficiency, ranked #252 of 324 in MO (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: William Southern Elem. (math 27% / reading 37%, grade F, #761 of 1,115 statewide, top 72%, 430 students, 73% FRL); Bridger Middle (math 32% / reading 38%, grade F, #240 of 391 statewide, top 62%, 770 students, 65% FRL); Truman High (math 18% / reading 34%, grade F, #430 of 521 statewide, top 83%, 1,662 students, 52% FRL) — zoned schools at 63% FRL track the district average.
• Market conditions: Rents rising fast (+5.1%/yr); 203 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• Jackson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 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 + 5.1% rent growth), your $26k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 15.6% vs local median 5.0% in Independence — 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.
• This rent runs 33% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.
• 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.