511 S Main St

La Monte, MO 65337

$100,000B

4 bd · 2.0 ba · 1,352 sqft · Built 1984 · Manufactured · Pending · 107 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,224/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$74
• HOA: −$0
• Vac / Maint / Mgmt: −$257
• Net cashflow: $368/mo
• Annual: $4,416/yr
• Cap rate: 10.71%
• Cash-on-cash: 15.77%
• DSCR: 1.70
• 1% rule: 1.22%
• Cash to close: $28,000

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $100k.
• At list price, monthly cash flow is $368 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 107 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($691 loan paydown + $5k 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.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $32k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (5.4% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.