24732 Melody Rd · Versailles, MO 65084

$35,000

2 bd · 1.5 ba · 840 sqft · Manufactured · 12 Days on market

Fair condition $270/mo HOA · 31% of rent

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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
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable Lake of the Ozarks Getaway! Enjoy lake living without the high price tag at the 9-mile marker of the Gravois Arm. This 2-bedroom, 1.5-bath, 850 sq. ft. single-wide mobile home comes mostly furnished and is ready for you to start enjoying the lake lifestyle. Relax on the covered deck with a seasonal lake view, and take advantage of the included 8x12 storage shed for all your lake and outdoor gear. The community offers a boat ramp and boat slips (subject to availability), along with friendly neighbors and a welcoming atmosphere. Conveniently located near the Anchorage Bar & Grill for dining and entertainment, plus two nearby off-road parks for outdoor adventure! A great oppor

Key facts

• Covered deck
• Boat slips
• Seasonal lake view

Tags

• SEASONAL LAKE VIEW
• COVERED DECK
• INCLUDED STORAGE SHED
• BOAT RAMP
• BOAT SLIPS

Property features AI

Finance

• Other: Subdivision: Gravois Beach
• HOA & community: Homeowners association with a $270 monthly fee; HOA fee covers water and sewer

Exterior

• Parking: No garage
• Utilities: Water and sewer included in HOA; On waterfront (implies water access)
• Home design: Mobile home (single wide); One level
• Construction: Vinyl siding; Pillar/post/pier foundation
• Exterior features: Deck; Screened porch; Sloped, gently sloping lot; Waterfront lot with beach access and lake privileges; Gravel road access; Private road maintained by owner/association; Leased lot

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Propane heating; Central air conditioning; Ceiling fan(s) for cooling
• Interior features: Ceiling fans

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $35k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($860 rent vs $35k).

Location & tenants

• Location reads 60/100 on livability (#489 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, schools D, amenities F.
• Morgan County R-II (rural): math 27% / reading 41% proficiency, ranked #240 of 324 in MO (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 54 active listings in the ZIP; 14 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Morgan County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.

Recommended offer $35,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.46% ✓
• Cap rate: 12.02%
• Cash-on-cash: 20.47%
• DSCR: 1.91
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 13.1%
• Equity multiple: 1.53×
• Total profit: $5,155
• Equity at exit: $5,219

10-year hold

• IRR: 22.3%
• Equity multiple: 2.93×
• Total profit: $18,926
• Equity at exit: $3,026

Cash invested: $9,800 (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 65084

• Home prices YoY: -35.0%
• Active inventory: 54
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $860 medium
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$270
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $167

Break-even live

Break-even rent $648

Max offer price $35,000

Occupancy floor 76%

Sensitivity live

Price	-10% $191	-5% $179	+0% $167	+5% $155	+10% $143
Rent	-10% $99	-5% $133	+0% $167	+5% $201	+10% $235
Rate	-1.0pp $185	-0.5pp $176	base $167	+0.5pp $158	+1.0pp $149

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $270 · $3,240/yr

Listing history 9 events

1. 2026-06-21
   days on market $35,000 Active 12 DOM
2. 2026-06-18
   days on market $35,000 Active 10 DOM
3. 2026-06-17
   days on market $35,000 Active 9 DOM
4. 2026-06-16
   days on market $35,000 Active 8 DOM
5. 2026-06-15
   days on market $35,000 Active 7 DOM
6. 2026-06-13
   days on market $35,000 Active 5 DOM
7. 2026-06-12
   days on market $35,000 Active 4 DOM
8. 2026-06-09
   remarks 695-char remark
9. 2026-06-09
   listed $35,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,315
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$825
• − Management: −$825
• − HOA: −$3,240
• − Depreciation: −$1,018
• Taxable income: $1,746
• Est. tax owed @ 24.0%: −$419
• After-tax cash flow: $1,587/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 · 6 photos

Fair 45/100 Moderate rehab

This mobile home requires moderate repairs and updates to improve its condition and increase its resale and rental value. The home is located in a desirable area with lake views and amenities, making it a good investment opportunity.

Repairs flagged

• Moderate Appliances — Old and worn, need replacement.
• Moderate Bathtub and sink — Dated appearance, need replacement or renovation.
• Minor Exterior siding — Paint is faded, could benefit from touch-up paint.
• Minor Interior walls — Paint is chipped and faded, could benefit from fresh paint.
• Minor Landscaping — Basic landscaping, could benefit from some updates and plants.
• Minor Windows — Could use cleaning and possibly replacement if old or damaged.

Value-add opportunities

• Both Replace old appliances and fixtures — Modernizing the kitchen and bathroom will attract more buyers and renters.
• Both Paint interior walls and exterior siding — Fresh paint will improve the home's curb appeal and make it more attractive to potential buyers and renters.
• Both Update landscaping — A well-maintained and attractive landscape will enhance the home's appeal and increase its value.
• Both Replace worn flooring — Fresh carpet in the living room will improve the home's appearance and make it more attractive to potential buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Appliances · Old and worn, need replacement.	Moderate	$3,000–15,000
Bathtub and sink · Dated appearance, need replacement or renovation.	Moderate	$3,000–15,000
Exterior siding · Paint is faded, could benefit from touch-up paint.	Minor	$500–3,000
Interior walls · Paint is chipped and faded, could benefit from fresh paint.	Minor	$500–3,000
Landscaping · Basic landscaping, could benefit from some updates and plants.	Minor	$500–3,000
Windows · Could use cleaning and possibly replacement if old or damaged.	Minor	$500–3,000
Total estimated repair cost · 6 items		$8,000–42,000

Value-add ROI direction

• Both Replace old appliances and fixtures — Modernizing the kitchen and bathroom will attract more buyers and renters. ↑
• Both Paint interior walls and exterior siding — Fresh paint will improve the home's curb appeal and make it more attractive to potential buyers and renters. ↑
• Both Update landscaping — A well-maintained and attractive landscape will enhance the home's appeal and increase its value. ↑
• Both Replace worn flooring — Fresh carpet in the living room will improve the home's appearance and make it more attractive to potential buyers and renters. ↑

ⓘ 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: Morgan County R-II
• NCES district ID: 2930840
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 41% ▼ -6.00%
• Median HH income: $35,368
• Composite: 28.07/100
• National rank: #6837
• State rank: #240 of 324 in MO

Livability — Versailles

• Score: 60/100
• State rank: #489
• US rank: #19068

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,269

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 18,779 people
• By 2030: 17,891 · -4.7%
• By 2040: 16,227 · -13.6%
• By 2050: 14,735 · -21.5%
• By 2075: 11,433 · -39.1%
• By 2100: 7,717 · -58.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Slovak 3% Lithuanian 2% Iranian 1%
• Foreign-born: 1%
• Languages at home: 86% English-only · German/W. Germanic 12% Russian/Polish/Slavic 2% Spanish 1%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+59.7) · D 19.7% · R 79.4%
• 2008→2024 swing: -39.1pp toward R · 2008: -20.6pp · 2024: -59.7pp
• All cycles: 2024: R+59.7 2020: R+58.2 2016: R+56.6 2012: R+34.1 2008: R+20.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.06%
• Current HPI: 165.5808
• 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

1 event — show timeline

• 2026-06-08 Listed $35,000 LOBR