27069 County Road 209 · Wheatland, MO 65650

$109,900

3 bd · 1.0 ba · 784 sqft · Manufactured public records · 79 Days on market

Built 2000 9,583 sqft lot

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +12.7/30.0
• Appreciation +8.2/10.0
• ARV discount +7.5/15.0
• DSCR +3.8/10.0
• 1% rule +3.6/10.0
• Schools +3.3/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

BEAUTIFUL LAKEVIEW, close to boat ramps is this immaculate 2 bedroom mobile home. New metal roof, decks, large open living area, great kitchen and dining area. All furniture stays, storage shed, RV hookup, perfect for permanent or lake home. See to appreciate this one!!

Key facts

• New metal roof
• Lakeview
• Storage shed

Tags

• LAKEVIEW
• NEW METAL ROOF
• STORAGE SHED
• RV HOOKUP

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $-13 ($-154/yr) — negative.
• To cash-flow at today's rent, offer at most $108k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $95k (14.0% below list).
• Recommended offer: $95k (14.0% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.3% in Wheatland — 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.

Location & tenants

• Location reads 53/100 on livability (#810 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: schools F, crime F, amenities F.
• Wheatland R-II (rural): math 35% / reading 40% proficiency, ranked #367 of 535 in MO (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 28 active listings in the ZIP.

Forward outlook

• In year one you build about $8k of equity ($760 loan paydown + $7k appreciation (6.4% local appreciation)).
• Hickory County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.4% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.

Recommended offer $94,509 (14.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.50%
• DSCR: 0.98
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.39% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.9%
• Equity multiple: 2.09×
• Total profit: $33,485
• Equity at exit: $71,811

10-year hold

• IRR: 15.8%
• Equity multiple: 4.20×
• Total profit: $98,546
• Equity at exit: $132,643

Cash invested: $30,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 81 Strongly Landlord-Friendly
• State Missouri: 81 Strongly Landlord-Friendly · R+10
• County: — inherits STATE
• City: — inherits STATE

Generally landlord-friendly; St Louis has some habitability requirements.

Methodology + full state rankings →

ZIP-level market 65650

• Home prices YoY: 3.4%
• Active inventory: 28
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $945 medium
• Mortgage (P&I): −$576
• Tax est. 1.5%: −$137 /mo · $1,648/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $-13

Break-even live

Break-even rent $961

Max offer price $108,037

Occupancy floor 96%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $109,900 Active 79 DOM
2. 2026-06-17
   days on market $109,900 Active 78 DOM
3. 2026-06-16
   days on market $109,900 Active 77 DOM
4. 2026-06-15
   days on market $109,900 Active 76 DOM
5. 2026-06-14
   days on market $109,900 Active 74 DOM
6. 2026-06-10
   days on market $109,900 Active 71 DOM
7. 2026-06-09
   days on market $109,900 Active 70 DOM
8. 2026-06-08
   days on market $109,900 Active 69 DOM
9. 2026-06-07
   days on market $109,900 Active 68 DOM
10. 2026-06-05
    days on market $109,900 Active 65 DOM
11. 2026-06-03
    days on market $109,900 Active 64 DOM
12. 2026-06-02
    days on market $109,900 Active 63 DOM
13. 2026-06-01
    days on market $109,900 Active 62 DOM
14. 2026-05-31
    days on market $109,900 Active 61 DOM
15. 2026-05-30
    days on market $109,900 Active 60 DOM
16. 2026-03-30
    listed $119,900 Active 270-char remark

    Show marketing remark (270 chars)

    BEAUTIFUL LAKEVIEW, close to boat ramps is this immaculate 2 bedroom mobile home. New metal roof, decks, large open living area, great kitchen and dining area. All furniture stays, storage shed, RV hookup, perfect for permanent or lake home. See to appreciate this one!!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,341
• − Mortgage interest: −$6,156
• − Property taxes: −$1,648
• − Insurance: −$550
• − Repairs & maintenance: −$907
• − Management: −$907
• − Depreciation: −$3,197
• Taxable loss: −$2,025
• Est. tax savings @ 24.0%: +$486
• After-tax cash flow: $331/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Wheatland R-II
• NCES district ID: 2931920
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 40% ▬ 0.00%
• Median HH income: $33,689
• Composite: 33.38/100
• National rank: #10558
• State rank: #367 of 535 in MO

Livability — Wheatland

• Score: 53/100
• State rank: #810
• US rank: #24271

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A- Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,340

Population outlook (Hickory County) Hauer SSP2

• Today (2025): 8,206 people
• By 2030: 7,690 · -6.3%
• By 2040: 6,780 · -17.4%
• By 2050: 6,076 · -26.0%
• By 2075: 5,088 · -38.0%
• By 2100: 4,489 · -45.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 4% Asian 1%
• Common ancestry: Italian 29% Slovak 7% Scotch-Irish 2%
• Foreign-born: 0%
• Languages at home: 93% English-only · German/W. Germanic 7%

Political lean MEDSL · Hickory

• 2024 margin: Solid R (+61.1) · D 19.1% · R 80.2%
• 2008→2024 swing: -47.9pp toward R · 2008: -13.3pp · 2024: -61.1pp
• All cycles: 2024: R+61.1 2020: R+57.3 2016: R+53.5 2012: R+23.6 2008: R+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.39%
• Current HPI: 196.7164
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.84%
• F500 in state: 20

Industry mix (Fortune 500 HQ in MO)

Industry	F500 HQs	Revenue
▸Healthcare	1	$163B
▸Insurance	1	$21B
▸Industrial Technology	1	$17B
▸Retail	1	$16B
▸Industrial Distribution	1	$10B
▸Utilities	1	$9B

Price history

1 event — show timeline

• 2026-03-30 Listed $119,900 SOMO

Property tax history

+0.8%/yr

Latest (2025): $181 · +1.1% YoY. Source: county tax records.