2316 Seven Pines Dr #1

Maryland Heights, MO 63146

$229,900D

3 bd · 2.0 ba · 1,606 sqft · Built 1983 · Condo · Pending · 64 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,051/mo
• Mortgage (P&I): −$1,206
• Tax + insurance: −$292
• HOA: −$514
• Vac / Maint / Mgmt: −$431
• Net cashflow: $-391/mo
• Annual: $-4,697/yr
• Cap rate: 4.25%
• Cash-on-cash: -7.30%
• DSCR: 0.68
• 1% rule: 0.89%
• Cash to close: $64,372

Investor read

• This is a 3-bed/2.0-bath condo listed at $230k.
• At list price, monthly cash flow is $-391 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $161k (30.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (10.8% below list).
• It's been on market 64 days — a 6% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $161k (30.1% below list) — sets the bar for cash-flow.
• In year one you build about $25k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• Location reads 71/100 on livability (#101 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, amenities F, commute F.
• Parkway C-2 (suburban): math 49% / reading 62% proficiency, ranked #18 of 324 in MO (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: River Bend Elem. (math 42% / reading 61%, grade C-, #268 of 1,115 statewide, top 24%, 423 students, 18% FRL); Northeast Middle (math 33% / reading 47%, grade F, #185 of 391 statewide, top 48%, 703 students, 24% FRL); Central High (math 53% / reading 73%, grade B-, #26 of 521 statewide, top 5%, 1,244 students, 13% FRL) — zoned schools at 18% FRL track the district average.
• Watch-outs: HOA is 25% of rent.
• Market conditions: Rents soft (-3.0%/yr); 173 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 920 units permitted in St. Louis County in 2024 (250 in 5+ unit buildings).
• 6 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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 64 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?