48 Rasso Way #65 · Coney Island, MO 65686

$119,000

2 bd · 2.0 ba · 683 sqft · Condo · 3 Days on market

Built 1982 Average condition $224/mo HOA · 17% of rent

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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).

• Cash flow +12.3/30.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Schools +3.7/10.0
• DSCR +3.6/10.0
• Livability +3.0/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Attractively priced lake cabin with short-term rental approval--ideal as a vacation home, income-producing rental, or both! Located just across the Kimberling City bridge on Table Rock Lake, Treehouse Trail Cabins at Ozark Mountain Resort offer a rustic, woodsy lake experience in a setting that's hard to beat. Originally part of a resort, these cabins are now individually deeded condos zoned for nightly rental--making them a smart investment opportunity. Each unit features that classic lake cabin charm, complete with a cozy wood-burning fireplace and a deck nestled in the trees--perfect for those peaceful Ozark evenings. Priced to sell as-is, these cabins are a rare chance to renovate and b

Key facts

• Vacation home
• $224 HOA
• Built 1982

Tags

• SHORT-TERM RENTAL APPROVAL
• VACATION HOME
• INCOME-PRODUCING RENTAL
• RUSTIC WOODSY LAKE EXPERIENCE
• COZY WOOD-BURNING FIREPLACE
• DECK NESTLED IN THE TREES

Property features AI

Finance

• HOA & community: Monthly association fee of $224.29; HOA covers insurance, trash, and snow removal

Exterior

• Utilities: Public water; Public sewer
• Home design: Condominium (residential property)
• Exterior features: Front porch; Therapeutic whirlpool (accessibility feature)

Interior

• Kitchen: Electric oven; Free-standing electric oven; Dishwasher; Refrigerator; Microwave
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Soaking tub; Wood-burning fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $119k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-22 ($-266/yr) — negative.
• To cash-flow at today's rent, offer at most $116k (2.7% below list).
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $116k (2.7% below list) — sets the bar for cash-flow.
• Cap rate 6.1% vs local median 1.8% in Coney Island — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 59/100 on livability (#553 in MO) — a working-class tenant base; expect higher turnover. Strengths: housing A-, crime B; Watch: health & safety C-, amenities F, commute F.
• Blue Eye R-V (rural): math 41% / reading 47% proficiency, ranked #107 of 324 in MO (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Blue Eye Elem. (math 37% / reading 47%, grade F, #481 of 1,115 statewide, top 46%, 198 students, 48% FRL); Blue Eye Middle (math 42% / reading 42%, grade D-, #149 of 391 statewide, top 41%, 170 students, 51% FRL); Blue Eye High (math 54% / reading 64%, grade C+, #35 of 521 statewide, top 8%, 178 students, 42% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: 288 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 191 units permitted in Stone County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Stone County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask is 9% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $115,798 (2.7% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.09% ✓
• Cap rate: 6.07%
• Cash-on-cash: -0.80%
• DSCR: 0.96
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -17.4%
• Equity multiple: 0.38×
• Total profit: $-20,535
• Equity at exit: $17,743

10-year hold

• IRR: -9.2%
• Equity multiple: 0.43×
• Total profit: $-19,058
• Equity at exit: $10,289

Cash invested: $33,320 (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 65686

• Home prices YoY: -31.2%
• Active inventory: 288
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,297 medium
• Mortgage (P&I): −$624
• Tax est. 1.5%: −$149 /mo · $1,785/yr
• Insurance: −$50
• HOA: −$224
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $-22

Break-even live

Break-even rent $1,325

Max offer price $115,798

Occupancy floor 97%

Sensitivity live

Price	-10% $60	-5% $19	+0% $-22	+5% $-63	+10% $-104
Rent	-10% $-125	-5% $-73	+0% $-22	+5% $29	+10% $80
Rate	-1.0pp $38	-0.5pp $8	base $-22	+0.5pp $-53	+1.0pp $-84

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
395 Ozark Mountain Resort Dr #60 Kimberling City, MO	2.0	2.0	726	$1,400	$1.93	44d	1	0.07mi
225 Ozark Mountain Resort Dr #44 Kimberling City, MO	2.0	2.0	750	$1,100	$1.47	44d	1	0.18mi

HOA detail condo

• Monthly dues: $224 · $2,688/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-09
   remarks 699-char remark
2. 2026-06-09
   listed $119,000 Pending 3 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,558
• − Mortgage interest: −$6,666
• − Property taxes: −$1,785
• − Insurance: −$595
• − Repairs & maintenance: −$1,245
• − Management: −$1,245
• − HOA: −$2,688
• − Depreciation: −$3,462
• Taxable loss: −$2,127
• Est. tax savings @ 24.0%: +$510
• After-tax cash flow: $245/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.

Condition & rehab AI · 12 photos

Average 55/100 Cosmetic rehab

This lakefront condo offers a cozy, rustic cabin experience with a deck and shared pool. It requires some cosmetic updates to kitchen and bathroom fixtures to enhance its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate kitchen appliances — outdated and in need of replacement
• Moderate bathroom vanity — dated and in need of updating

Value-add opportunities

• Both paint interior walls — enhances curb appeal and interior aesthetics
• Both replace kitchen cabinets and appliances — modernizes the space and improves functionality
• Both update bathroom vanity — enhances the bathroom's functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of updating	Moderate	$3,000–15,000
kitchen appliances · outdated and in need of replacement	Moderate	$3,000–15,000
bathroom vanity · dated and in need of updating	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Both paint interior walls — enhances curb appeal and interior aesthetics ↑
• Both replace kitchen cabinets and appliances — modernizes the space and improves functionality ↑
• Both update bathroom vanity — enhances the bathroom's functionality and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Blue Eye R-V
• NCES district ID: 2905280
• Math proficiency: 41% ▲ 3.00%
• Reading proficiency: 47% ▼ -5.00%
• Median HH income: $42,591
• Composite: 37.08/100
• National rank: #4500
• State rank: #107 of 324 in MO

Livability — Coney Island

• Score: 59/100
• State rank: #553
• US rank: #20257

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,487

Population outlook (Stone County) Hauer SSP2

• Today (2025): 28,147 people
• By 2030: 26,405 · -6.2%
• By 2040: 22,762 · -19.1%
• By 2050: 19,706 · -30.0%
• By 2075: 14,742 · -47.6%
• By 2100: 10,832 · -61.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3%
• Common ancestry: Lithuanian 4% Italian 3% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Other Asian/Pacific 0%

Political lean MEDSL · Stone

• 2024 margin: Solid R (+61.4) · D 18.9% · R 80.3%
• 2008→2024 swing: -24.1pp toward R · 2008: -37.3pp · 2024: -61.4pp
• All cycles: 2024: R+61.4 2020: R+61.1 2016: R+62.1 2012: R+49.2 2008: R+37.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.17%
• Current HPI: 198.5699
• 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

+11.6% since first listed

5 events — show timeline

• 2026-06-09 Pending — SOMO
• 2026-06-09 Price Changed $119,000 SOMO
• 2026-06-07 Listed $109,000 SOMO
• 2025-09-08 Price Changed $109,559 SOMO
• 2025-08-14 Listed $106,645 SOMO