101 S Chestnut St

La Monte, MO 65337

$57,000B+

3 bd · 1.0 ba · 912 sqft · Built 1969 · Manufactured · Pending · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $906/mo
• Mortgage (P&I): −$299
• Tax + insurance: −$41
• HOA: −$0
• Vac / Maint / Mgmt: −$190
• Net cashflow: $376/mo
• Annual: $4,514/yr
• Cap rate: 14.21%
• Cash-on-cash: 28.28%
• DSCR: 2.26
• 1% rule: 1.59%
• Cash to close: $15,960

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $57k.
• At list price, monthly cash flow is $376 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($906 rent vs $57k).
• It's been on market 16 days — a 2% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $56k (1.5% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($394 loan paydown + $3k appreciation (5.4% local appreciation)).
• Location reads 62/100 on livability (#393 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools F, amenities F, commute F.
• La Monte R-IV (rural): math 25% / reading 35% proficiency, ranked #455 of 535 in MO (top 85%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 9 active listings in the ZIP; 109 units permitted in Pettis County in 2024 (46 in 5+ unit buildings).
• Pettis County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (5.4% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.