1341 Snapdragon Ct

Creve Coeur, MO 63146

$279,900D-

3 bd · 2.5 ba · 1,794 sqft · Built 1980 · Townhouse · Active · 126 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,218/mo
• Mortgage (P&I): −$1,468
• Tax + insurance: −$341
• HOA: −$365
• Vac / Maint / Mgmt: −$466
• Net cashflow: $-421/mo
• Annual: $-5,055/yr
• Cap rate: 4.49%
• Cash-on-cash: -6.45%
• DSCR: 0.71
• 1% rule: 0.79%
• Cash to close: $78,372

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $280k.
• At list price, monthly cash flow is $-421 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $205k (26.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (20.7% below list).
• It's been on market 126 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $205k (26.6% below list) — sets the bar for cash-flow.
• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Location reads 81/100 on livability (#16 in MO, #1,519 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, schools A-; Watch: amenities C-, cost of living 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.
• Market conditions: Rents soft (-3.0%/yr); 170 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 8d 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 14y 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 $142k; list at $280k implies a 97% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$48k 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.
• Cap rate 4.5% vs local median 2.7% in Creve Coeur — 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.
• This rent runs 31% of the median local income ($85k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 126 days. Have you received any prior offers? Is the seller open to a 27% 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?
• 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 A-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.