19456 Jewell Rd

Lebanon, MO 65536

$150,000C-

3 bd · 2.0 ba · 1,352 sqft · Built 1998 · Manufactured · Active · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,237/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$93
• HOA: −$0
• Vac / Maint / Mgmt: −$260
• Net cashflow: $98/mo
• Annual: $1,177/yr
• Cap rate: 7.08%
• Cash-on-cash: 2.80%
• DSCR: 1.12
• 1% rule: 0.82%
• Cash to close: $42,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $150k.
• At list price, monthly cash flow is $98 ($1k/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 $124k (17.5% below list).
• It's been on market 39 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $124k (17.5% 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 $4k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#308 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime D, amenities F, commute F.
• Lebanon R-III (town): math 29% / reading 35% proficiency, ranked #256 of 324 in MO (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lebanon Sr. High (math 16% / reading 34%, grade F, #435 of 521 statewide, top 83%, 1,474 students, 50% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: 256 active listings in the ZIP; 61 units permitted in Laclede County in 2024 (0 in 5+ unit buildings).
• Laclede County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 6y ago 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.
• Cap rate 7.1% vs local median 3.7% in Lebanon — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 18% 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 D 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?
• 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.