1011 Balboa Trl

Raymore, MO 64083

$251,795D

3 bd · 2.0 ba · 1,295 sqft · Built 2026 · Other · Pending · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,148/mo
• Mortgage (P&I): −$1,320
• Tax + insurance: −$420
• HOA: −$46
• Vac / Maint / Mgmt: −$451
• Net cashflow: $-89/mo
• Annual: $-1,069/yr
• Cap rate: 5.87%
• Cash-on-cash: -1.52%
• DSCR: 0.93
• 1% rule: 0.85%
• Cash to close: $70,503

Investor read

• This is a 3-bed/2.0-bath other listed at $252k. Condition is rated excellent.
• At list price, monthly cash flow is $-89 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $239k (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (14.7% below list).
• It's been on market 29 days — a 2% lower offer ($248k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $215k (14.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#111 in MO) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Raymore-Peculiar R-II (suburban): math 37% / reading 51% proficiency, ranked #70 of 324 in MO (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Stonegate Elem. (math 47% / reading 57%, grade C-, #231 of 1,115 statewide, top 24%, 310 students, 40% FRL); Raymore-Peculiar East Middle (math 36% / reading 51%, grade D, #127 of 391 statewide, top 34%, 801 students, 32% FRL); Raymore-Peculiar Sr. High (math 26% / reading 58%, grade F, #218 of 521 statewide, top 45%, 2,091 students, 28% FRL).
• Market conditions: Rents rising fast (+4.6%/yr); 356 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 588 units permitted in Cass County in 2024 (0 in 5+ unit buildings).
• Cass County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts 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.
• Cap rate 5.9% vs local median 3.1% in Raymore — 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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.