934 County Road 68

Viburnum, MO 65439

$104,995C+

3 bd · 1.0 ba · 1,216 sqft · Built 2001 · Manufactured · Active · 81 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,028/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$72
• HOA: −$0
• Vac / Maint / Mgmt: −$216
• Net cashflow: $189/mo
• Annual: $2,273/yr
• Cap rate: 8.46%
• Cash-on-cash: 7.73%
• DSCR: 1.34
• 1% rule: 0.98%
• Cash to close: $29,399

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $105k.
• At list price, monthly cash flow is $189 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $103k (2.1% below list).
• It's been on market 81 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $99k (6.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($726 loan paydown + $5k appreciation (4.4% local appreciation)).
• Location reads 55/100 on livability (#752 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools D, employment D, crime F.
• Iron County C-4 (rural): math 36% / reading 46% proficiency, ranked #299 of 535 in MO (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 6 active listings in the ZIP; 6 units permitted in Iron County in 2024 (0 in 5+ unit buildings).
• Iron County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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.
• At projected returns (4.4% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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.
• 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.