21700 Highway Y

St. Robert, MO 65584

$219,900D-

3 bd · 2.0 ba · 1,632 sqft · Built 1970 · Other · Active · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,537/mo
• Mortgage (P&I): −$1,153
• Tax + insurance: −$132
• HOA: −$0
• Vac / Maint / Mgmt: −$323
• Net cashflow: $-71/mo
• Annual: $-852/yr
• Cap rate: 5.91%
• Cash-on-cash: -1.38%
• DSCR: 0.94
• 1% rule: 0.70%
• Cash to close: $61,572

Investor read

• This is a 3-bed/2.0-bath other listed at $220k.
• At list price, monthly cash flow is $-71 ($-852/yr) — negative.
• To cash-flow at today's rent, offer at most $207k (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (30.1% below list).
• It's been on market 41 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $154k (30.1% 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Waynesville R-VI (town): math 46% / reading 53% proficiency, ranked #41 of 324 in MO (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Freedom Elem. (math 44% / reading 45%, grade F, #413 of 1,115 statewide, top 42%, 961 students, 54% FRL); Waynesville Middle (math 43% / reading 59%, grade C, #62 of 391 statewide, top 16%, 865 students, 45% FRL); Waynesville Sr. High (math 37% / reading 53%, grade D-, #176 of 521 statewide, top 34%, 1,704 students, 39% FRL) — zoned schools average 46% FRL vs 28% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+10.2%/yr); 132 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 62 units permitted in Pulaski County in 2024 (0 in 5+ unit buildings).
• 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 4.5% in St. Robert — 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?
• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
• Built in 1970 — 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.
• 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.