701 S Frederick St

Concordia, MO 64020

$134,900B

3 bd · 1.5 ba · 1,200 sqft · Built 1966 · Manufactured · Pending · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,563/mo
• Mortgage (P&I): −$707
• Tax + insurance: −$104
• HOA: −$0
• Vac / Maint / Mgmt: −$328
• Net cashflow: $423/mo
• Annual: $5,077/yr
• Cap rate: 10.06%
• Cash-on-cash: 13.44%
• DSCR: 1.60
• 1% rule: 1.16%
• Cash to close: $37,772

Investor read

• This is a 3-bed/1.5-bath manufactured listed at $135k.
• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $14k of equity ($933 loan paydown + $13k appreciation (10.0% local appreciation)).
• Location reads 67/100 on livability (#207 in MO) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Concordia R-II (rural): math 39% / reading 46% proficiency, ranked #109 of 324 in MO (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Concordia Elem. (math 32% / reading 42%, grade F, #611 of 1,115 statewide, top 59%, 276 students, 37% FRL); Concordia High (math 52% / reading 52%, grade D+, #92 of 521 statewide, top 20%, 191 students, 39% FRL).
• Market conditions: 15 active listings in the ZIP; 112 units permitted in Lafayette County in 2024 (0 in 5+ unit buildings).
• Lafayette County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 9y 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1966 — 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.
• 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.