109 Manilla St

Koshkonong, MO 65692

$149,900D

3 bd · 1.0 ba · 1,188 sqft · Built 1960 · Other · Active · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,124/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$101
• HOA: −$0
• Vac / Maint / Mgmt: −$236
• Net cashflow: $0/mo
• Annual: $5/yr
• Cap rate: 6.30%
• Cash-on-cash: 0.01%
• DSCR: 1.00
• 1% rule: 0.75%
• Cash to close: $41,972

Investor read

• This is a 3-bed/1.0-bath other listed at $150k.
• At list price, monthly cash flow is $0 ($5/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 $112k (25.0% below list).
• It's been on market 30 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $112k (25.0% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Location reads 54/100 on livability (#803 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Oregon-Howell R-III (rural): math 15% / reading 25% proficiency, ranked #513 of 535 in MO (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Koshkonong Elem. (math 17% / reading 32%, grade F, #879 of 1,115 statewide, top 81%, 148 students, 64% FRL); Koshkonong High (math 10% / reading 30%, grade F, #472 of 521 statewide, top 91%, 78 students, 74% FRL).
• Market conditions: 20 active listings in the ZIP; 5 units permitted in Oregon County in 2024 (0 in 5+ unit buildings).
• Oregon County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 8y 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.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: 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

• Built in 1960 — 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 F-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.
• 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.