Andrew (MO) Investor Pulse Report (2026-Q1)

Investors hold a significant 19.8% share of the single-family residential market in Andrew County, with a total portfolio of 1,204 properties.

The market is overwhelmingly controlled by individual investors, who own 927 properties (77.0% of the total) and represent 1,012 of the 1,169 landlord entities.

Company ownership, while smaller, consists of 157 entities controlling 277 properties, which accounts for the remaining 23.0% of the investor-owned housing stock.

A defining characteristic of this market is the preference for all-cash ownership. A remarkable 89.4% of investor-owned properties (1,076) are owned outright, compared to a mere 10.6% (128) that carry a mortgage.

The strategic focus is clearly on rentals, as 1,152 properties, or 95.7% of the entire investor portfolio, are non-owner-occupied and designated as rental units.

The price relationship between landlords and traditional homeowners in Andrew County is erratic, likely reflecting low transaction volumes and an opportunistic acquisition strategy.

In a reversal of the typical discount narrative, landlords paid a 19.1% premium in Q3 2025, with an average purchase price of $149,200 compared to the homeowner average of $125,317.

However, the prior quarter saw an extreme discount, with landlords paying just $37,500 on average in Q2 2025, which was 81.7% less than the typical homeowner price of $204,509.

This pattern of paying a premium also occurred in Q1 2025, when the average landlord purchase price of $171,900 was 28.8% higher than the homeowner average.

These dramatic quarterly swings indicate that investors are not competing for typical on-market homes but are likely targeting unique opportunities, such as distressed sales or off-market deals, that do not follow general market pricing.

Investors were the only active buyers in the Andrew County SFR market during Q4 2025, purchasing both of the 2 homes sold during the period.

This activity was driven exclusively by new, small-scale investors, who accounted for 100.0% of all landlord purchases.

The data shows three new landlord entities entered the market, all within the single-property tier, acquiring the two available properties.

The complete absence of acquisitions from mid-size (11-1000 properties) or institutional (1000+) investors highlights a market where growth is fueled by new entrants at the smallest level.

This pattern suggests that market expansion is happening from the ground up, rather than through portfolio consolidation by larger, established players.

The investor ownership structure in Andrew County is overwhelmingly dominated by small-scale operators. Landlords with portfolios of 1-10 properties, known as mom-and-pops, control a massive 92.4% of all investor-owned homes.

The single-property landlord tier is the bedrock of the market, alone accounting for 737 properties, or 58.0% of the total investor portfolio.

In stark contrast, the institutional tier (1,000+ properties) has a negligible footprint, with its entire portfolio consisting of a single property, which translates to a mere 0.1% market share.

Mid-size investors (holding 11-100 properties) occupy a small niche, collectively owning 95 properties and making up 7.5% of the market.

This distribution firmly establishes the local market as one defined by individual ambition and small portfolios, not by corporate consolidation.

A clear pattern emerges when analyzing ownership by entity type: individuals dominate smaller portfolios while companies take over as portfolios scale.

In the foundational single-property tier, individual investors own 87.4% of the homes (644 properties), establishing them as the primary market participants.

This individual dominance continues through the smaller tiers, with individuals still holding a 63.3% majority in the 11-20 property bracket.

The dynamic shifts decisively in the 21-50 property tier. Here, companies own 44 of the 45 properties, a commanding 97.8% share, marking the point where professionalization and incorporation become the norm.

This trend suggests that while individuals are the engine of market entry and small-portfolio management, scaling operations beyond 20 properties typically involves forming a corporate entity.

Investor activity in Andrew County shows geographic concentration, with the 64485 zip code holding the largest number of investor-owned properties at 485.

However, the highest market penetration is found elsewhere. The 64421 zip code has the greatest density of investor ownership, with 36.2% of its single-family homes owned by landlords.

Other highly saturated zip codes include 64423 and 64480, with investor ownership rates of 33.3% and 31.5%, respectively.

This data reveals a crucial distinction between total volume and market saturation. The zip code with the most investor properties (64485) has a relatively modest ownership rate of 17.9% compared to the top areas.

This suggests divergent investment strategies: some investors target larger areas for volume, while others focus on smaller markets to achieve a higher concentration and potentially greater market influence.

Transactional data from 2025 shows that landlords in Andrew County were firmly in an accumulation phase, displaying strong confidence in the local market.

Across the full year, investors were significant net buyers, acquiring 25 single-family homes while disposing of only one.

This resulted in an overwhelming 25-to-1 buy-to-sell ratio and a net addition of 24 properties to the collective investor portfolio.

Momentum was particularly strong in the second quarter of 2025, which saw 8 properties purchased by investors against just a single sale.

No transactional data was available for institutional investors, indicating their activity in the county is effectively zero.

In the first quarter of 2026, the Andrew County SFR market was driven entirely by investor activity, with landlords accounting for all 3 transactions.

This activity originated exclusively from the smallest investor segment, as all 3 purchases were made by single-property landlords.

The average purchase price for these new market entrants was $72,000.

Significantly, none of these properties were acquired from other landlords. This 0% landlord-to-landlord transaction rate shows that new capital is entering the market by purchasing from homeowners, not from existing investors selling off assets.

This pattern points toward a net expansion of the rental housing supply, fueled by new, small-scale market participants.