6162 Shelby 419

Shelbina, MO 63468

$140,000C+

4 bd · 2.0 ba · 1,768 sqft · Built 2019 · Manufactured · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,351/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$116
• HOA: −$0
• Vac / Maint / Mgmt: −$284
• Net cashflow: $217/mo
• Annual: $2,600/yr
• Cap rate: 8.15%
• Cash-on-cash: 6.63%
• DSCR: 1.30
• 1% rule: 0.96%
• Cash to close: $39,200

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $140k.
• At list price, monthly cash flow is $217 ($3k/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 $135k (3.5% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $135k (3.5% below list) — sets the bar for 1% rule.
• In year one you build about $10k of equity ($968 loan paydown + $9k appreciation (6.4% local appreciation)).
• Location reads 68/100 on livability (#188 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: employment D, amenities F, commute F.
• Shelby County R-IV (rural): math 29% / reading 42% proficiency, ranked #224 of 324 in MO (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: South Shelby Elementary (math 37% / reading 47%, grade F, #481 of 1,115 statewide, top 46%, 294 students, 56% FRL); South Shelby Middle School (math 32% / reading 37%, grade F, #243 of 391 statewide, top 65%, 151 students, 54% FRL); South Shelby High (math 12% / reading 42%, grade F, #420 of 521 statewide, top 82%, 248 students, 48% FRL).
• Market conditions: 13 active listings in the ZIP; 4 units permitted in Shelby County in 2024 (0 in 5+ unit buildings).
• Shelby County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.4% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, 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

• 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.