4440 NW Wildwood Dr

Gladstone, MO 64116

$230,000C-

4 bd · 3.0 ba · 1,845 sqft · Built 1984 · SingleFamily · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,083/mo
• Mortgage (P&I): −$1,206
• Tax + insurance: −$456
• HOA: −$0
• Vac / Maint / Mgmt: −$437
• Net cashflow: $-17/mo
• Annual: $-204/yr
• Cap rate: 6.49%
• Cash-on-cash: 0.72%
• DSCR: 1.03
• 1% rule: 0.91%
• Cash to close: $64,400

Investor read

• This is a 4-bed/3.0-bath single-family listed at $230k.
• At list price, monthly cash flow is $-17 ($-204/yr) — negative.
• To cash-flow at today's rent, offer at most $227k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (9.5% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $208k (9.5% 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 $7k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#44 in MO, #3,612 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities F, commute F.
• North Kansas City 74 (urban): math 38% / reading 49% proficiency, ranked #98 of 324 in MO (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Briarcliff Elementary (math 42% / reading 52%, grade D-, #347 of 1,115 statewide, top 35%, 310 students, 46% FRL); Northgate Middle (math 25% / reading 37%, grade F, #279 of 391 statewide, top 72%, 689 students, 63% FRL); North Kansas City High (math 14% / reading 37%, grade F, #433 of 521 statewide, top 83%, 1,640 students, 55% FRL) — zoned schools average 55% FRL vs 37% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: Rents rising fast (+4.7%/yr); 87 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 341 units permitted in Clay County in 2024 (40 in 5+ unit buildings).
• Clay County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.5% vs local median 4.5% in Gladstone — 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 39% of the median local income ($64k/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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.