624 N Mccomb St

Rich Hill, MO 64779

$68,000B

4 bd · 2.5 ba · 1,152 sqft · Built 1970 · Manufactured · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,109/mo
• Mortgage (P&I): −$357
• Tax + insurance: −$44
• HOA: −$0
• Vac / Maint / Mgmt: −$233
• Net cashflow: $476/mo
• Annual: $5,706/yr
• Cap rate: 14.68%
• Cash-on-cash: 29.97%
• DSCR: 2.33
• 1% rule: 1.63%
• Cash to close: $19,040

Investor read

• This is a 4-bed/2.5-bath manufactured listed at $68k.
• At list price, monthly cash flow is $476 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-2.8%/yr); year-one equity from $470 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#173 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D, amenities F, commute F.
• Rich Hill R-IV (rural): math 45% / reading 50% proficiency, ranked #167 of 535 in MO (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rich Hill Elem. (math 47% / reading 42%, grade F, #413 of 1,115 statewide, top 42%, 173 students, 53% FRL); Rich Hill High (math 57% / reading 47%, grade D+, #92 of 521 statewide, top 20%, 185 students, 54% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: 13 active listings in the ZIP; 2 units permitted in Bates County in 2024 (0 in 5+ unit buildings).
• Bates County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.8% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.