808 Dawson Rd · New Madrid, MO 63869

$59,900

2 bd · 2.0 ba · 1,120 sqft · Manufactured · 57 Days on market

Built 1986 Fair condition 6,969 sqft lot ↓ 9% since listing

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +2.1/10.0

Listing remarks MLS

Looking for an affordable path to homeownership or your next investment opportunity? This 2-bedroom, 2-bath modular home offers solid value at a price point that is hard to find in today’s market. Situated on a 0.16-acre lot, this home features a functional layout with a spacious living area, large kitchen with plenty of cabinet space, and a split-bedroom design that provides privacy. The home includes two full bathrooms, making it practical for everyday living or rental use. The property is currently tenant-occupied, generating $650 per month in rental income, making it an immediate cash-flow opportunity for investors looking to expand their portfolio. While the home may benefit from some cosmetic updates, it is priced accordingly and offers a great chance to build equity over time. Whether you are tired of renting and ready to own, or an investor searching for an affordable income-producing property, this one deserves a look. Key Highlights: • Affordable price point • 2 bed, 2 full bath layout • Currently rented at $650/month • Great investment or starter home • Opportunity to add value with updates Don’t miss your chance to own instead of rent or add a cash-flowing property to your portfolio.

Key facts

• 6,969 sq ft lot
• Built 1986
• Listed 56 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $60k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($898 rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#309 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: health & safety C-, crime D, schools F.
• New Madrid County R-I (rural): math 20% / reading 31% proficiency, ranked #291 of 324 in MO (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 15 active listings in the ZIP; 11 units permitted in New Madrid County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($414 loan paydown + $6k appreciation (10.0% local appreciation)).
• New Madrid County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Recommended offer $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 1.50% ✓
• Cap rate: 12.21%
• Cash-on-cash: 21.13%
• DSCR: 1.94
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 40.1%
• Equity multiple: 4.07×
• Total profit: $51,446
• Equity at exit: $53,963

10-year hold

• IRR: 34.6%
• Equity multiple: 9.15×
• Total profit: $136,736
• Equity at exit: $116,373

Cash invested: $16,772 (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 63869

• Home prices YoY: 22.5%
• Active inventory: 15
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $898 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $295

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 62%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $59,900 Active 57 DOM
2. 2026-06-17
   days on market $59,900 Active 56 DOM
3. 2026-06-16
   days on market $59,900 Active 55 DOM
4. 2026-06-15
   days on market $59,900 Active 54 DOM
5. 2026-06-13
   days on market $59,900 Active 52 DOM
6. 2026-06-12
   days on market $59,900 Active 51 DOM
7. 2026-06-09
   days on market $59,900 Active 48 DOM
8. 2026-06-08
   days on market $59,900 Active 47 DOM
9. 2026-06-07
   days on market $59,900 Active 46 DOM
10. 2026-06-07
    days on market $59,900 Active 45 DOM
11. 2026-06-04
    days on market $59,900 Active 42 DOM
12. 2026-06-02
    days on market $59,900 Active 41 DOM
13. 2026-06-01
    days on market $59,900 Active 40 DOM
14. 2026-05-31
    days on market $59,900 Active 39 DOM
15. 2026-05-06
    price $59,900 1256-char remark

    Show marketing remark (1256 chars)

    Looking for an affordable path to homeownership or your next investment opportunity? This 2-bedroom, 2-bath modular home offers solid value at a price point that is hard to find in today’s market. Situated on a 0.16-acre lot, this home features a functional layout with a spacious living area, large kitchen with plenty of cabinet space, and a split-bedroom design that provides privacy. The home includes two full bathrooms, making it practical for everyday living or rental use. The property is currently tenant-occupied, generating $650 per month in rental income, making it an immediate cash-flow opportunity for investors looking to expand their portfolio. While the home may benefit from some cosmetic updates, it is priced accordingly and offers a great chance to build equity over time. Whether you are tired of renting and ready to own, or an investor searching for an affordable income-producing property, this one deserves a look. Key Highlights: • Affordable price point • 2 bed, 2 full bath layout • Currently rented at $650/month • Great investment or starter home • Opportunity to add value with updates Don’t miss your chance to own instead of rent or add a cash-flowing property to your portfolio.

16. 2026-04-22
    listed $65,900 Active 1256-char remark

    Show marketing remark (1256 chars)

    Looking for an affordable path to homeownership or your next investment opportunity? This 2-bedroom, 2-bath modular home offers solid value at a price point that is hard to find in today’s market. Situated on a 0.16-acre lot, this home features a functional layout with a spacious living area, large kitchen with plenty of cabinet space, and a split-bedroom design that provides privacy. The home includes two full bathrooms, making it practical for everyday living or rental use. The property is currently tenant-occupied, generating $650 per month in rental income, making it an immediate cash-flow opportunity for investors looking to expand their portfolio. While the home may benefit from some cosmetic updates, it is priced accordingly and offers a great chance to build equity over time. Whether you are tired of renting and ready to own, or an investor searching for an affordable income-producing property, this one deserves a look. Key Highlights: • Affordable price point • 2 bed, 2 full bath layout • Currently rented at $650/month • Great investment or starter home • Opportunity to add value with updates Don’t miss your chance to own instead of rent or add a cash-flowing property to your portfolio.

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

Taxation est. · year 1

• Rental income: $10,774
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$862
• − Management: −$862
• − Depreciation: −$1,743
• Taxable income: $2,754
• Est. tax owed @ 24.0%: −$661
• After-tax cash flow: $2,883/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This 2-bedroom, 2-bath modular home is in fair condition with some repairs and maintenance needed. It has a functional layout and is currently tenant-occupied, generating rental income. Painting the exterior and interior walls and replacing the roof would significantly increase its value.

Repairs flagged

• Major roof — The independent satellite image shows a white roof, which may indicate a recent or pending roof replacement.
• Moderate exterior siding — The exterior siding appears to be in fair condition, with some discoloration and wear visible.
• Moderate interior walls — The interior walls appear to be in average condition, with some discoloration and wear visible.

Value-add opportunities

• Both Paint the exterior and interior walls — Painting the exterior and interior walls can improve the home's curb appeal and interior aesthetics, which can increase its resale and rental value.
• Both Replace the roof — Replacing the roof can improve the home's structural integrity and increase its resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The independent satellite image shows a white roof, which may indicate a recent or pending roof replacement.	Major	$15,000–50,000
exterior siding · The exterior siding appears to be in fair condition, with some discoloration and wear visible.	Moderate	$3,000–15,000
interior walls · The interior walls appear to be in average condition, with some discoloration and wear visible.	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$21,000–80,000

Value-add ROI direction

• Both Paint the exterior and interior walls — Painting the exterior and interior walls can improve the home's curb appeal and interior aesthetics, which can increase its resale and rental value. ↑
• Both Replace the roof — Replacing the roof can improve the home's structural integrity and increase its resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: New Madrid County R-I
• NCES district ID: 2900004
• Math proficiency: 20% ▼ -10.00%
• Reading proficiency: 31% ▼ -7.00%
• Median HH income: $31,286
• Composite: 20.64/100
• National rank: #8543
• State rank: #291 of 324 in MO

Livability — New Madrid

• Score: 64/100
• State rank: #309
• US rank: #14083

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Madrid, MO
• Population (ZIP): 3,184

Population outlook (New Madrid County) Hauer SSP2

• Today (2025): 16,712 people
• By 2030: 15,845 · -5.2%
• By 2040: 14,152 · -15.3%
• By 2050: 12,604 · -24.6%
• By 2075: 9,478 · -43.3%
• By 2100: 7,157 · -57.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 17% Two or more races 6%
• Common ancestry: Lithuanian 1% Italian 1%
• Foreign-born: 1% · South Korea, China
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · New Madrid

• 2024 margin: Solid R (+53.5) · D 22.9% · R 76.4%
• 2008→2024 swing: -38.4pp toward R · 2008: -15.1pp · 2024: -53.5pp
• All cycles: 2024: R+53.5 2020: R+51.0 2016: R+45.4 2012: R+20.3 2008: R+15.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 50.78%
• Current HPI: 276.21
• 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

-9.1% since first listed

2 events — show timeline

• 2026-05-06 Price Changed $59,900 MARIS as Distributed by MLS Grid
• 2026-04-22 Listed $65,900 MARIS as Distributed by MLS Grid