205 N Macon St

Meadville, MO 64659

$110,000D

3 bd · 2.0 ba · 1,248 sqft · Built 2001 · Manufactured · Pending · 51 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $785/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$101
• HOA: −$0
• Vac / Maint / Mgmt: −$165
• Net cashflow: $-57/mo
• Annual: $-684/yr
• Cap rate: 5.67%
• Cash-on-cash: -2.22%
• DSCR: 0.90
• 1% rule: 0.71%
• Cash to close: $30,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $110k.
• At list price, monthly cash flow is $-57 ($-684/yr) — negative.
• To cash-flow at today's rent, offer at most $100k (9.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $79k (28.6% below list).
• It's been on market 51 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (28.6% below list) — sets the bar for 1% rule.
• In year one you build about $8k of equity ($761 loan paydown + $8k appreciation (6.9% local appreciation)).
• Location reads 67/100 on livability (#226 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: crime F, amenities F, commute F.
• Meadville R-IV (rural): math 55% / reading 55% proficiency, ranked #63 of 535 in MO (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Meadville Elem. (math 44% / reading 54%, grade D, #284 of 1,115 statewide, top 30%, 117 students, 41% FRL); Meadville High (math 64% / reading 64%, grade B-, #19 of 521 statewide, top 4%, 111 students, 38% FRL).
• Market conditions: 3 active listings in the ZIP; 4 units permitted in Linn County in 2024 (0 in 5+ unit buildings).
• Linn County population projected at -21% 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.
• Current owner paid $8k; list at $110k implies a 1367% gain — meaningful room to come down on a strong offer.
• At projected returns (6.9% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• It's been on market 51 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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?
• 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.