2902 Clay, De Soto, Missouri

$530,000

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Property Details

MLS ID: 26009958

Status: Active

Price: $530,000

Acres: 10.24±

Type: Residential

Address: 2902 Clay

City, State: De Soto, MO

County: Jefferson County

ZIP Code: 63020

Lat/Long: 38.06135, -90.47075

Parcel Number: 23-8.0-28.0-0-000-019

Year Built: 1940

Description

Caesar's Country Acres is an all-age community located in De Soto, Missouri, approximately 45 miles south of St. Louis. The property includes two tax parcels situated on 10.24 peaceful acres, and features 14 income producing units: 4 cottages, 8 park-owned mobile homes, and 2 pad rentals with tenant-owned mobile homes on them. See supplements or photos for details on the beds/baths, rents, and improvements done during the sellers’ ownership. Outbuildings include a 40x30 storage barn (currently unused) with 16x8 garage door, and three storage sheds (two currently unused).

Caesars Country Acres is served by a well system and a wastewater stabilization lagoon system, both of which are in good working order. The lagoon, located at the rear of the property, is a septic 3-cell treatment plant that is tested quarterly. Zoning is R-40 (see supplements for full detail). Potential value add plays could include raising lot rents, selling park-owned homes to tenants (on contract or outright) to lower operating costs, improving insurance costs, improving garage to rent as secured storage, renting the unused sheds, updating unrenovated units / raising rent as units turn, and expansion. There is potential for 26 additional pads (check with the county for specific requirements); utilities are already sized for more pads. The park-owned mobile homes are unattached and thus taxed as personal property – a savings for the buyer. Occupancy rates are very high, retention is strong, and unit turns are short. The homes are older but many are newly renovated and in good shape.

Current monthly rents total $8920; there is currently one vacancy, a cottage that’s being renovated by a laborer/tenant in lieu of rent. With existing rents and a pro forma $820 for the cottage, the annual operating income is $116,880. Less operating expenses of $53,241, that’s an NOI of $63,739 – a 12.02% cap rate at asking price.

De Soto is in Jefferson County, is one of the fastest growing counties in state. The city is known as “Fountain City” because of the numerous artesian wells. Union Pacific Railroad, Wal-Mart and De Soto SD are the largest employers.

Directions: GPS friendly, and it's a very pleasant drive!

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© 2026 Mid America Regional Information Systems, Inc. Based on information submitted to the MLS GRID as of March 4, 2026 at 12:00:00 PM UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Listed By: Tammy Derrigan of Worth Clark Realty