213 W Marvin Ave

Walker, MO 64790

$87,500B-

3 bd · 2.0 ba · 1,232 sqft · Built 1990 · Manufactured · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,044/mo
• Mortgage (P&I): −$459
• Tax + insurance: −$58
• HOA: −$0
• Vac / Maint / Mgmt: −$219
• Net cashflow: $308/mo
• Annual: $3,693/yr
• Cap rate: 10.51%
• Cash-on-cash: 15.08%
• DSCR: 1.67
• 1% rule: 1.19%
• Cash to close: $24,500

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $88k.
• At list price, monthly cash flow is $308 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $1k of equity ($605 loan paydown + $622 appreciation (0.7% local appreciation)).
• Location reads 51/100 on livability (#896 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Northeast Vernon County R-I (rural): math 20% / reading 35% proficiency, ranked #485 of 535 in MO (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 12 active listings in the ZIP; 57 units permitted in Vernon County in 2024 (38 in 5+ unit buildings).
• Vernon County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.
• 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.

Questions for listing agent

• 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.