111 N Connor Ave Unit A & B

Joplin, MO 64801

$135,100D-

None bd · 2.0 ba · 1,956 sqft · Built — · Condo · Pending · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,145/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$225
• HOA: −$0
• Vac / Maint / Mgmt: −$241
• Net cashflow: $-29/mo
• Annual: $-347/yr
• Cap rate: 6.04%
• Cash-on-cash: -0.92%
• DSCR: 0.96
• 1% rule: 0.85%
• Cash to close: $37,828

Investor read

• This is a ?-bed/2.0-bath condo listed at $135k. Condition is rated fair.
• At list price, monthly cash flow is $-29 ($-347/yr) — negative.
• To cash-flow at today's rent, offer at most $131k (3.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (15.2% below list).
• It's been on market 31 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $115k (15.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $934 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#318 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime F, amenities F.
• Joplin Schools (urban): math 30% / reading 39% proficiency, ranked #231 of 324 in MO (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.0%/yr); 371 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 602 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).
• 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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?

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and in need of updating
• Moderate: kitchen countertops — dated and in need of updating
• Minor: bathroom shower curtain — dated and in need of replacement