641 Carolee Ct

Villa Ridge, MO 63089

$107,500B-

3 bd · 1.0 ba · 1,152 sqft · Built 1982 · Manufactured · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,712/mo
• Mortgage (P&I): −$564
• Tax + insurance: −$105
• HOA: −$0
• Vac / Maint / Mgmt: −$360
• Net cashflow: $684/mo
• Annual: $8,204/yr
• Cap rate: 13.92%
• Cash-on-cash: 27.26%
• DSCR: 2.21
• 1% rule: 1.59%
• Cash to close: $30,100

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $108k.
• At list price, monthly cash flow is $684 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $108k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $743 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#619 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-, crime B+; Watch: employment C-, amenities F, commute F.
• Meramec Valley R-III (town): math 36% / reading 42% proficiency, ranked #148 of 324 in MO (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Robertsville Elem. (math 34% / reading 34%, grade F, #676 of 1,115 statewide, top 66%, 155 students, 48% FRL); Pacific High (math 15% / reading 43%, grade F, #407 of 521 statewide, top 78%, 951 students, 30% FRL).
• Market conditions: 33 active listings in the ZIP; 614 units permitted in Franklin County in 2024 (100 in 5+ unit buildings).
• Franklin County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 15y ago 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.
• Current owner paid $58k; list at $108k implies a 85% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~5 years — after that, you're playing with house money.

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?
• 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.