306 W Cedar St

Bertrand, MO 63823

$75,000C

1 bd · 1.0 ba · 768 sqft · Built 2023 · Manufactured · Active · 92 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $822/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$125
• HOA: −$0
• Vac / Maint / Mgmt: −$173
• Net cashflow: $131/mo
• Annual: $1,576/yr
• Cap rate: 8.39%
• Cash-on-cash: 7.50%
• DSCR: 1.33
• 1% rule: 1.10%
• Cash to close: $21,000

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $75k. Condition is rated poor.
• At list price, monthly cash flow is $131 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($822 rent vs $75k).
• It's been on market 92 days — a 9% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $68k (9.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($519 loan paydown + $1k appreciation (1.7% local appreciation)).
• Location reads 55/100 on livability (#748 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D, schools F, crime F.
• Charleston R-I (town): math 11% / reading 23% proficiency, ranked #310 of 324 in MO (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 11 active listings in the ZIP; 7 units permitted in Mississippi County in 2024 (0 in 5+ unit buildings).
• Mississippi County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Kitchen appliances — Old and worn
• Major: Bathroom fixtures — Outdated and possibly non-functional
• Major: Roof — Old and weathered
• Major: Exterior siding — Peeling and damaged
• Major: Flooring — Worn and damaged
• Major: Paint — Chipped and worn