111 Racoon Ct

Lake Viking, MO 64640

$149,000D+

3 bd · 3.0 ba · 1,280 sqft · Built 1997 · Manufactured · Pending · 126 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,058/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$95
• HOA: −$88
• Vac / Maint / Mgmt: −$222
• Net cashflow: $-128/mo
• Annual: $-1,540/yr
• Cap rate: 5.26%
• Cash-on-cash: -3.69%
• DSCR: 0.84
• 1% rule: 0.71%
• Cash to close: $41,720

Investor read

• This is a 3-bed/3.0-bath manufactured listed at $149k.
• At list price, monthly cash flow is $-128 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (15.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (29.0% below list).
• It's been on market 126 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $106k (29.0% below list) — sets the bar for 1% rule.
• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Location reads 57/100 on livability (#637 in MO) — a working-class tenant base; expect higher turnover. Strengths: crime A, housing A-, employment B; Watch: schools F, amenities F, commute F.
• Winston R-VI (rural): math 40% / reading 40% proficiency, ranked #292 of 535 in MO (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 125 active listings in the ZIP.
• Daviess County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $14k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 126 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.