5364 Mcclelland Blvd

Joplin, MO 64804

$174,000F

3 bd · 2.0 ba · 1,296 sqft · Built 2021 · Manufactured · Pending · 51 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,179/mo
• Mortgage (P&I): −$912
• Tax + insurance: −$145
• HOA: −$0
• Vac / Maint / Mgmt: −$248
• Net cashflow: $-127/mo
• Annual: $-1,518/yr
• Cap rate: 5.42%
• Cash-on-cash: -3.12%
• DSCR: 0.86
• 1% rule: 0.68%
• Cash to close: $48,720

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $174k.
• At list price, monthly cash flow is $-127 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $152k (12.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $118k (32.3% below list).
• It's been on market 51 days — a 3% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $118k (32.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#318 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Joplin Schools (urban): math 30% / reading 39% proficiency, ranked #231 of 324 in MO (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Stapleton Elem. (math 38% / reading 47%, grade F, #477 of 1,115 statewide, top 43%, 410 students, 49% FRL); South Middle (math 40% / reading 48%, grade D, #121 of 391 statewide, top 32%, 573 students, 47% FRL); Joplin High (math 32% / reading 46%, grade F, #287 of 521 statewide, top 55%, 2,233 students, 50% FRL) — zoned schools at 49% FRL track the district average.
• Market conditions: Rents rising fast (+15.7%/yr); 356 active listings in the ZIP; 110 units permitted in Newton County in 2024 (40 in 5+ unit buildings).
• Newton County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 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.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 32% 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 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?
• 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.