7283 Meriwether Ct

Barnhart, MO 63012

$184,900C-

3 bd · 1.5 ba · 1,040 sqft · Built 1979 · Other · Pending · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,805/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$205
• HOA: −$0
• Vac / Maint / Mgmt: −$379
• Net cashflow: $251/mo
• Annual: $3,015/yr
• Cap rate: 7.92%
• Cash-on-cash: 5.82%
• DSCR: 1.26
• 1% rule: 0.98%
• Cash to close: $51,772

Investor read

• This is a 3-bed/1.5-bath other listed at $185k.
• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (2.4% below list).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $181k (2.4% 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 64/100 on livability (#299 in MO) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Windsor C-1 (suburban): math 30% / reading 44% proficiency, ranked #154 of 324 in MO (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Windsor Elem. (489 students, 39% FRL); Windsor High (math 26% / reading 55%, grade F, #240 of 521 statewide, top 46%, 908 students, 29% FRL) — zoned schools at 34% FRL track the district average.
• Market conditions: 32 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 807 units permitted in Jefferson County in 2024 (104 in 5+ unit buildings).
• 2 sale attempts since 10y 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.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.9% vs local median 5.1% in Barnhart — 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

• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.