309 N Fricke Dr · Corder, MO 64021

$190,000

3 bd · 2.0 ba · 1,800 sqft · Manufactured public records · 5 Days on market

Built 2013 0.69 ac lot $106/sqft · at area comps Est $193k · at est.

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Why this score? — see what drove the D- 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).

• Appreciation +8.2/10.0
• Cash flow +8.1/30.0
• ARV discount +8.1/15.0
• Livability +3.3/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• 1% rule +1.8/10.0

Listing remarks MLS

Large Modular home with tons of space. Huge bedrooms with walk in closets. Massive Kitchen with center island. Large Mud/Laundry room with wet sink. Attached 2 car garage, located on a oversized corner lot. This property may qualify for Seller Financing.

Key facts

• Above-ground pool
• Corner lot
• 0.69 acre lot

Tags

• CORNER LOT
• ABOVE-GROUND POOL

Property features AI

Finance

• Other: Approximately 0.69-acre lot
• HOA & community: No association fees; Maintenance provided

Exterior

• Parking: Attached 2-car garage
• Security: Smoke detector(s)
• Utilities: City/public water (verify); Public sewer
• Home design: Single-family residence; Modular (manufactured) construction; Ranch style
• Construction: Frame with vinyl siding; Composition roof; Crawl space foundation; Built approximately 11–15 years ago
• Exterior features: Deck; Above-ground pool; Corner lot; Paved road with public maintenance

Interior

• Kitchen: Cooktop; Built-in oven; Dishwasher; Disposal; Refrigerator
• Bedrooms: 3 bedrooms (all on the first level)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Electric cooling (has cooling)
• Interior features: Thermal windows; Eat-in kitchen; Smoke detector(s); Ranch floor plan
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $-187 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (17.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (32.3% below list).
• Recommended offer: $129k (32.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#255 in MO) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Lafayette County C-1 (town): math 26% / reading 43% proficiency, ranked #221 of 324 in MO (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 2 active listings in the ZIP; 112 units permitted in Lafayette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (6.3% local appreciation)).
• Lafayette County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $128,683 (32.3% below list)

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.68% ✗
• Cap rate: 5.11%
• Cash-on-cash: -4.21%
• DSCR: 0.81
• GRM: 12.3

CMA / ARV

• ARV (median comp): $192,681
• List price: $190,000
• Delta: -1.39%
• Verdict: FAIR
• Comps: 11 within 1.0 mi

Projected returns pro-forma

6.31% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.7%
• Equity multiple: 1.87×
• Total profit: $46,451
• Equity at exit: $123,197

10-year hold

• IRR: 13.3%
• Equity multiple: 3.73×
• Total profit: $144,974
• Equity at exit: $226,727

Cash invested: $53,200 (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 64021

• Home prices YoY: 2.4%
• Active inventory: 2
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $1,287 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$128 /mo · $1,532/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $-187

Break-even live

Break-even rent $1,523

Max offer price $157,026

Occupancy floor —

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-08
   status Pending 551-char remark
2. 2026-05-02
   listed $190,000 Active 551-char remark
3. 2021-02-23
   soldstatus Closed 254-char remark

   Show marketing remark (254 chars)

   Large Modular home with tons of space. Huge bedrooms with walk in closets. Massive Kitchen with center island. Large Mud/Laundry room with wet sink. Attached 2 car garage, located on a oversized corner lot. This property may qualify for Seller Financing.

4. 2021-01-07
   status Pending 254-char remark

   Show marketing remark (254 chars)

   Large Modular home with tons of space. Huge bedrooms with walk in closets. Massive Kitchen with center island. Large Mud/Laundry room with wet sink. Attached 2 car garage, located on a oversized corner lot. This property may qualify for Seller Financing.

5. 2020-12-28
   listed $155,000 Active 254-char remark

   Show marketing remark (254 chars)

   Large Modular home with tons of space. Huge bedrooms with walk in closets. Massive Kitchen with center island. Large Mud/Laundry room with wet sink. Attached 2 car garage, located on a oversized corner lot. This property may qualify for Seller Financing.

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

Tax reassessment forecast MO · Resets to sale price

• Current annual tax: $1,532 · $128/mo
• Projected year-2 tax: $1,843 · $154/mo
• Expected delta: +$311/yr (+$26/mo · 20.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,442
• − Mortgage interest: −$10,643
• − Property taxes: −$1,532
• − Insurance: −$950
• − Repairs & maintenance: −$1,235
• − Management: −$1,235
• − Depreciation: −$5,527
• Taxable loss: −$5,681
• Est. tax savings @ 24.0%: +$1,364
• After-tax cash flow: $-876/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.

Schools (NCES district)

• District: Lafayette County C-1
• NCES district ID: 2914400
• Math proficiency: 26% ▼ -2.00%
• Reading proficiency: 43% ▬ 0.00%
• Median HH income: $46,595
• Composite: 29.54/100
• National rank: #6493
• State rank: #221 of 324 in MO

Livability — Corder

• Score: 66/100
• State rank: #255
• US rank: #12366

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corder, MO
• Population (ZIP): 675

Population outlook (Lafayette County) Hauer SSP2

• Today (2025): 31,118 people
• By 2030: 29,993 · -3.6%
• By 2040: 27,436 · -11.8%
• By 2050: 24,585 · -21.0%
• By 2075: 18,426 · -40.8%
• By 2100: 12,897 · -58.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Native American 4% Two or more races 3% Black 2%
• Common ancestry: Iranian 4% Portuguese 1% Romanian 1%
• Foreign-born: 1%

Political lean MEDSL · Lafayette

• 2024 margin: Solid R (+48.9) · D 24.9% · R 73.8% · Other 1.3%
• 2008→2024 swing: -33.6pp toward R · 2008: -15.3pp · 2024: -48.9pp
• All cycles: 2024: R+48.9 2020: R+45.7 2016: R+43.8 2012: R+26.3 2008: R+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.31%
• Current HPI: 274.6917
• 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

+22.6% since first listed

5 events — show timeline

• 2026-05-08 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-05-02 Listed $190,000 Heartland MLS as Distributed by MLS Grid
• 2021-02-23 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2021-01-07 Pending — Heartland MLS as Distributed by MLS Grid
• 2020-12-28 Listed $155,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+23.5%/yr

Latest (2025): $1,532 · +13.0% YoY. Source: county tax records.