1413 N Geronimo Dr

Independence, MO 64058

$185,000D

3 bd · 1.0 ba · 1,450 sqft · Built 1966 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,617/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$290
• HOA: −$0
• Vac / Maint / Mgmt: −$340
• Net cashflow: $17/mo
• Annual: $209/yr
• Cap rate: 6.41%
• Cash-on-cash: 0.40%
• DSCR: 1.02
• 1% rule: 0.87%
• Cash to close: $51,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $185k.
• At list price, monthly cash flow is $17 ($209/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 $162k (12.6% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $162k (12.6% 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: 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.
• Zoned schools: Elm Grove Elem. (math 22% / reading 27%, grade F, #879 of 1,115 statewide, top 81%, 325 students, 69% FRL); Fort Osage High (math 33% / reading 48%, grade F, #240 of 521 statewide, top 46%, 1,557 students, 39% FRL).
• Market conditions: 29 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.
• 6 sale attempts since 24y 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.
• Cap rate 6.4% 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.

Questions for listing agent

• Built in 1966 — 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.
• 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.
• 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.