1232 N Sioux Ct

Independence, MO 64056

$206,800D+

3 bd · 2.0 ba · 1,323 sqft · Built 1988 · SingleFamily · Active · 72 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,875/mo
• Mortgage (P&I): −$1,084
• Tax + insurance: −$411
• HOA: −$0
• Vac / Maint / Mgmt: −$394
• Net cashflow: $-14/mo
• Annual: $-165/yr
• Cap rate: 6.21%
• Cash-on-cash: -0.28%
• DSCR: 0.99
• 1% rule: 0.91%
• Cash to close: $57,904

Investor read

• This is a 3-bed/2.0-bath single-family listed at $207k.
• At list price, monthly cash flow is $-14 ($-165/yr) — negative.
• To cash-flow at today's rent, offer at most $204k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (9.3% below list).
• It's been on market 72 days — a 6% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $188k (9.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#10 in MO, #1,296 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools C-, employment D+, crime F.
• Fort Osage R-I (rural): math 28% / reading 39% proficiency, ranked #213 of 324 in MO (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.8%/yr); 106 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• Jackson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Cap rate 6.2% vs local median 5.0% in Independence — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 33% of the median local income ($68k/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 72 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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.
• 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?
• 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.