483 Mcneil Dr

Climax Springs, MO 65324

$27,000D

3 bd · 2.0 ba · 1,216 sqft · Built 1997 · Manufactured · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,129/mo
• Mortgage (P&I): −$142
• Tax + insurance: −$45
• HOA: −$0
• Vac / Maint / Mgmt: −$237
• Net cashflow: $705/mo
• Annual: $8,463/yr
• Cap rate: 37.64%
• Cash-on-cash: 111.94%
• DSCR: 5.98
• 1% rule: 4.18%
• Cash to close: $7,560

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $27k. Condition is rated fair.
• At list price, monthly cash flow is $705 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $27k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $187 of loan paydown is wiped out by about $810 of value loss. Plan a longer hold.
• Location reads 50/100 on livability (#910 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools D, amenities F, commute F.
• Climax Springs R-IV (rural): math 25% / reading 40% proficiency, ranked #431 of 535 in MO (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 57 active listings in the ZIP; 272 units permitted in Camden County in 2024 (0 in 5+ unit buildings).
• Camden County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 37.6% vs local median 1.1% in Climax Springs — 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — Worn and dated appearance.
• Minor: Appliances — Older models, may need replacement.
• Minor: Bathroom fixtures — Dated and worn appearance.