Sullivan (MO) Investor Pulse Report (2025-Q4)

In Sullivan County, MO, investors collectively own 390 Single Family Residential (SFR) properties, constituting a substantial 39.0% of the county's total SFR market of 999 properties, underscoring a significant investor presence.

Individual landlords overwhelmingly dominate the market, owning 357 SFR properties, which represents 91.5% of all investor-held SFR. Company ownership accounts for a much smaller share, with just 42 properties, or 10.8% of the investor-owned total.

The landlord landscape is heavily tilted towards individual operators, with 380 individual landlords compared to only 28 company landlords, establishing a 13.57:1 ratio of individual to company entities.

A vast majority of landlord-owned properties are rented, with 375 out of 390 properties (96.2%) being non-owner-occupied, confirming that the investor market is primarily driven by a rental-focused strategy.

Landlord acquisitions show a strong preference for cash transactions, with 334 properties (85.6%) being cash-purchased compared to 56 properties (14.4%) that were financed, indicating a robust financial position for many investors in this market.

Landlord acquisition prices in Sullivan County, MO, exhibited significant volatility across 2025. In Q4 2025, landlords secured properties at an average of $46,847, representing a substantial $90,952 discount, or 66.0% less than the $137,799 paid by traditional homeowners.

This sharp Q4 discount contrasts dramatically with Q3 2025, where landlords paid an average of $190,190, a remarkable $122,474 premium (180.9% higher) compared to homeowners who paid $67,716, indicating highly inconsistent market dynamics.

Earlier in 2025, landlords also faced premiums, albeit smaller: an 11.0% premium in Q2 ($99,750 vs. $89,874) and a 2.4% premium in Q1 ($142,004 vs. $138,709), demonstrating a varied pricing environment throughout the year.

The pronounced shifts between discounts and premiums quarter-over-quarter suggest a highly opportunistic and fragmented market, where landlord pricing strategies or available inventory vary considerably.

Across 2025, the annual average acquisition price for landlords was $138,787, reflecting the blended impact of these quarterly fluctuations. However, it's important to note that these price averages in section6-1.csv are associated with 0 distinct landlord properties purchased in the listed timeframes, which contrasts with 8 actual Q4 purchases by landlords per section 7-1.csv, suggesting a potential discrepancy in data reporting or definition of 'distinct properties purchased' in this particular dataset.

In Q4 2025, landlords in Sullivan County, MO, demonstrated strong acquisition activity, purchasing 8 SFR properties, which accounts for a commanding 53.3% share of the total 15 SFR purchases in the quarter.

The market was entirely dominated by small-scale investors, with mom-and-pop landlords (Tier 01-04) responsible for all 8 landlord purchases (100.0%), reinforcing their critical role in the local real estate market.

Institutional investors (Tier 09) showed no purchase activity in Q4, acquiring 0 properties, which further underscores the mom-and-pop sector's singular influence on recent market acquisitions.

Single-property landlords (Tier 01) were the most active, acquiring 6 properties, constituting 75.0% of all landlord purchases, and saw 8 distinct entities entering or expanding their single-property portfolios.

The remaining 25.0% of landlord purchases were split between two-property landlords (Tier 02), who acquired 1 property, and small landlords (Tier 03-05), who also acquired 1 property, indicating broader participation across the mom-and-pop spectrum.

The high proportion of single-property landlord entities (8 entities for 6 properties) highlights the significant influx or activity among new and smaller individual investors in Q4.

The investor-owned SFR market in Sullivan County, MO, is overwhelmingly dominated by mom-and-pop landlords (Tier 01-04), who control an immense 99.0% of all investor-owned properties, a figure that far exceeds any other investor segment.

Single-property landlords (Tier 01) represent the cornerstone of this market, holding 266 properties, which alone accounts for 65.7% of the total investor-owned SFR housing, making them the primary investor demographic.

Mid-tier mom-and-pop landlords further solidify this dominance: two-property landlords (Tier 02) own 50 properties (12.3%), small landlords (Tier 03-05) hold 57 properties (14.1%), and those with 6-10 properties (Tier 04) control 28 properties (6.9%).

In stark contrast, institutional investors (Tier 09, 1000+ properties) possess a negligible share, owning only 2 properties, which translates to a mere 0.5% of the entire investor-owned SFR portfolio.

The presence of larger, but still non-institutional, investors is minimal, with the small-medium tier (21-50 properties) owning just 2 properties, also accounting for 0.5% of the total.

The market structure in Sullivan County, MO, clearly defies the narrative of large corporate dominance, instead illustrating a highly decentralized market driven almost entirely by small-portfolio investors.

Individual investors overwhelmingly dominate every mom-and-pop tier in Sullivan County, MO, securing a commanding 93.8% ownership share in the single-property (Tier 01) segment, comprising 255 properties compared to companies' 17 properties.

This individual dominance remains strong in the two-property tier (Tier 02), where individuals own 86.0% (43 properties) versus companies' 14.0% (7 properties), further illustrating the grassroots nature of the market.

While individuals still hold the majority, company ownership sees a notable increase in higher mom-and-pop tiers; in the 6-10 property tier (Tier 04), individual ownership drops to 60.7% (17 properties), while companies rise to 39.3% (11 properties).

Despite this trend, the small landlord tier (3-5 properties, Tier 03) shows a resurgence of individual strength, with 94.7% ownership (54 properties) compared to a mere 5.3% for companies (3 properties), highlighting varied patterns of corporate penetration.

The data clearly indicates that for portfolios up to 10 properties, individual investors are the predominant owners, controlling significant majorities and forming the core of the investor landscape in these smaller tiers.

Investor-owned properties in Sullivan County, MO, are highly concentrated within a few key zip codes, with MO-Sullivan-63556 leading by a substantial margin, holding 229 investor-owned SFR properties and representing a 39.2% ownership rate within that zip code.

Following MO-Sullivan-63556, other significant concentrations include MO-Sullivan-63545 with 72 properties (32.7% rate), and MO-Sullivan-64667 with 25 properties (53.2% rate), demonstrating focal points of investor activity.

The top four zip codes by property count – 63556, 63545, 64667, and 63544 – collectively account for 349 properties, representing a remarkable 89.5% of all 390 investor-owned SFR properties in Sullivan County, MO, underscoring extreme geographic concentration.

Beyond absolute counts, MO-Sullivan-63566 exhibits the highest investor ownership rate, with 66.7% of its SFR properties being investor-owned, signaling a deeply penetrated market despite an unspecified property count in the provided data.

MO-Sullivan-64667 uniquely appears in both the top by count and top by percentage lists, with 25 properties and a 53.2% ownership rate, identifying it as a zip code with both significant volume and high landlord penetration.

Other zip codes with high investor ownership rates include MO-Sullivan-63560 at 62.5% and MO-Sullivan-64645 at 50.0%, further highlighting specific areas within Sullivan County, MO, that are highly attractive to investors.

All landlords in Sullivan County, MO, consistently acted as net buyers throughout 2025, accumulating a significant 22 additional properties with 35 buys and only 13 sells across the year, yielding a robust 2.69x buy-to-sell ratio.

This net accumulation trend continued into Q4 2025, where landlords completed 11 buy transactions compared to 4 sell transactions, resulting in a net gain of 7 properties, indicating continued investor confidence and market expansion.

While overall landlords were net accumulators, institutional investors (1000+ tier) displayed a contrasting pattern for Year 2025, acting as net sellers with 2 buys against 3 sells, resulting in a net divestment of 1 property, despite their minimal overall market presence.

Looking at year-over-year activity, all landlords remained net buyers in 2024 as well, with 45 buys and 19 sells, resulting in 26 net acquisitions, showcasing a sustained period of portfolio expansion.

The only quarter where all landlords were net sellers was Q2 2025, with 3 buys and 4 sells, indicating a brief period of minor divestment amidst an otherwise strong buying trend.

Landlords in Sullivan County, MO, were highly active in Q4 2025, participating in 11 transactions, which accounted for a substantial 47.8% of the total 23 SFR transactions in the quarter.

Mom-and-pop landlords (Tier 01-04) were solely responsible for all 11 landlord transactions in Q4, as institutional investors (Tier 09) registered no transaction activity, underscoring the dominance of smaller investors in the current market.

The single-property landlord tier (Tier 01) exhibited the highest transaction volume, engaging in 9 transactions at an average purchase price of $45,000, signifying a significant entry and growth point for new or smaller investors.

Inter-landlord trading played a notable role for some segments; 22.2% (2 out of 9) of Tier 01 transactions involved purchases from other landlords, suggesting a degree of market recycling among smaller owners.

For small landlords in Tier 03-05, 100.0% of their single Q4 transaction was a purchase from another landlord, at an average price of $50,540, indicating a complete reliance on intra-investor sales for this specific segment.

In contrast, the two-property landlord tier (Tier 02) recorded only 1 transaction, with 0% of those coming from other landlords, showcasing varied sourcing strategies across different mom-and-pop segments.