2303 Yosemite Park Ct Ct Unit C

Maryland Heights, MO 63043

$150,000D-

2 bd · 2.0 ba · 978 sqft · Built 1985 · Condo · Pending · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,619/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$227
• HOA: −$339
• Vac / Maint / Mgmt: −$340
• Net cashflow: $-74/mo
• Annual: $-888/yr
• Cap rate: 5.70%
• Cash-on-cash: -2.11%
• DSCR: 0.91
• 1% rule: 1.08%
• Cash to close: $42,000

Investor read

• This is a 2-bed/2.0-bath condo listed at $150k.
• At list price, monthly cash flow is $-74 ($-888/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (8.7% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• It's been on market 39 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $137k (8.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• 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.
• Pattonville R-III (suburban): math 32% / reading 46% proficiency, ranked #147 of 324 in MO (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pattonville Sr. High (math 33% / reading 64%, grade D, #147 of 521 statewide, top 29%, 1,893 students, 39% FRL) — zoned schools at 39% FRL track the district average.
• Watch-outs: HOA is 21% of rent.
• Market conditions: Rents rising (+1.6%/yr); 107 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 920 units permitted in St. Louis County in 2024 (250 in 5+ unit buildings).
• 3 sale attempts since 12y 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.
• Current owner paid $118k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 5.7% vs local median 4.2% in Maryland Heights — 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.

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 39 days. Have you received any prior offers? Is the seller open to a 9% 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?
• 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?
• 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.