500 W Cain St

Princeton, MO 64673

$109,900B-

3 bd · 2.0 ba · 1,836 sqft · Built 1998 · Manufactured · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,209/mo
• Mortgage (P&I): −$576
• Tax + insurance: −$97
• HOA: −$0
• Vac / Maint / Mgmt: −$254
• Net cashflow: $282/mo
• Annual: $3,379/yr
• Cap rate: 9.37%
• Cash-on-cash: 10.98%
• DSCR: 1.49
• 1% rule: 1.10%
• Cash to close: $30,772

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $110k.
• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $1k of equity ($760 loan paydown + $644 appreciation (0.6% local appreciation)).
• Location reads 63/100 on livability (#355 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B+, housing B+; Watch: employment D+, amenities F, commute F.
• Princeton R-V (rural): math 50% / reading 45% proficiency, ranked #158 of 535 in MO (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Princeton R-V Elem. (math 57% / reading 47%, grade C-, #231 of 1,115 statewide, top 24%, 184 students, 43% FRL); Princeton R-V Jr.-Sr. High (math 27% / reading 42%, grade F, #321 of 521 statewide, top 67%, 180 students, 39% FRL).
• Market conditions: 24 active listings in the ZIP.
• Mercer County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.

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.