509 E Main St

Humansville, MO 65674

$50,000B+

2 bd · 3.0 ba · 1,222 sqft · Built 2009 · Manufactured · Active · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $784/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$61
• HOA: −$0
• Vac / Maint / Mgmt: −$165
• Net cashflow: $296/mo
• Annual: $3,553/yr
• Cap rate: 13.40%
• Cash-on-cash: 25.38%
• DSCR: 2.13
• 1% rule: 1.57%
• Cash to close: $14,000

Investor read

• This is a 2-bed/3.0-bath manufactured listed at $50k.
• At list price, monthly cash flow is $296 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($784 rent vs $50k).
• It's been on market 50 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($346 loan paydown + $3k appreciation (6.0% local appreciation)).
• Location reads 67/100 on livability (#209 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Humansville R-IV (rural): math 28% / reading 39% proficiency, ranked #247 of 324 in MO (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Humansville Elem. (math 22% / reading 32%, grade F, #850 of 1,115 statewide, top 78%, 177 students, 0% FRL); Humansville Middle School (math 37% / reading 42%, grade F, #189 of 391 statewide, top 51%, 104 students, 0% FRL); Humansville High (math 30% / reading 70%, grade D+, #117 of 521 statewide, top 23%, 87 students, 0% FRL) — zoned schools average 0% FRL vs 74% district-wide (74 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 43 active listings in the ZIP; 188 units permitted in Polk County in 2024 (40 in 5+ unit buildings).
• At projected returns (6.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$30k 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.
• Cap rate 13.4% vs local median 3.7% in Humansville — 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.

Questions for listing agent

• It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% 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?
• 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.