11542 Concord Village Ave

Concord, MO 63128

$5,900,000C-

4000 bd · 2500.0 ba · 36,537 sqft · Built 1966 · MultiFamily · Active · 236 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $60,575/mo
• Mortgage (P&I): −$30,940
• Tax + insurance: −$9,833
• HOA: −$0
• Vac / Maint / Mgmt: −$12,721
• Net cashflow: $7,081/mo
• Annual: $84,968/yr
• Cap rate: 7.73%
• Cash-on-cash: 5.14%
• DSCR: 1.23
• 1% rule: 1.03%
• Cash to close: $1,652,000

Investor read

• This is a 30×1bd/1ba + 20×2bd/1ba units multifamily listed at $5.90M. Condition is rated good.
• At list price, monthly cash flow is $7k ($85k/yr) — positive. Per door: $142/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($61k rent vs $5.90M).
• It's been on market 236 days — a 12% lower offer ($5.19M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $5.19M (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $41k of loan paydown is wiped out by about $177k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#175 in MO) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A-; Watch: amenities F, commute F, health & safety F.
• Lindbergh Schools (suburban): math 41% / reading 55% proficiency, ranked #38 of 324 in MO (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Sappington Elem. (math 42% / reading 57%, grade D, #284 of 1,115 statewide, top 30%, 504 students, 14% FRL); Robert H. Sperreng Middle (math 40% / reading 47%, grade D, #127 of 391 statewide, top 34%, 953 students, 14% FRL); Lindbergh Sr. High (math 56% / reading 70%, grade B-, #26 of 521 statewide, top 5%, 2,235 students, 12% FRL) — zoned schools at 13% FRL track the district average.
• Market conditions: Rents rising (+2.0%/yr); 138 active listings in the ZIP; solid renter incomes; 920 units permitted in St. Louis County in 2024 (250 in 5+ unit buildings).
• 13 sale attempts since 3y ago; this cycle's ask is 592865% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.7% vs local median 3.9% in Concord — 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.
• At $60,575/mo this rent would consume 787% of the median local household income ($92k/yr) (locally 729% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 236 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.