521 Wayne 523

Wappapello, MO 63966

$48,500B

2 bd · 2.0 ba · 1,980 sqft · Built 1986 · Manufactured · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,022/mo
• Mortgage (P&I): −$254
• Tax + insurance: −$147
• HOA: −$0
• Vac / Maint / Mgmt: −$215
• Net cashflow: $405/mo
• Annual: $4,865/yr
• Cap rate: 17.97%
• Cash-on-cash: 41.70%
• DSCR: 2.86
• 1% rule: 2.11%
• Cash to close: $13,580

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $48k. Condition is rated fair.
• At list price, monthly cash flow is $405 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($335 loan paydown + $3k appreciation (6.2% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Greenville R-II (rural): math 34% / reading 37% proficiency, ranked #228 of 324 in MO (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 25 active listings in the ZIP.
• Wayne County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.2% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Significant damage and potential leaks.
• Major: exterior siding — Peeling and chipping paint, indicating significant wear.
• Major: interior walls — Peeling paint and outdated appearance.
• Major: HVAC system — Old and may need replacement.
• Major: landscaping — Sparse and overgrown, reducing curb appeal.