16054 Rose Wreath Ln

Old Jamestown, MO 63034

$162,000D

2 bd · 2.0 ba · 1,284 sqft · Built 1988 · Condo · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,862/mo
• Mortgage (P&I): −$850
• Tax + insurance: −$248
• HOA: −$374
• Vac / Maint / Mgmt: −$391
• Net cashflow: $-0/mo
• Annual: $-2/yr
• Cap rate: 6.29%
• Cash-on-cash: -0.00%
• DSCR: 1.00
• 1% rule: 1.15%
• Cash to close: $45,360

Investor read

• This is a 2-bed/2.0-bath condo listed at $162k.
• At list price, monthly cash flow is $0 ($-2/yr) — negative.
• To cash-flow at today's rent, offer at most $162k (0.0% below list).
• Meets the 1% rule at list price ($2k rent vs $162k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $162k (0.0% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#247 in MO) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: amenities F, commute F, health & safety F.
• Hazelwood (suburban): math 11% / reading 26% proficiency, ranked #306 of 324 in MO (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Barrington Elem. (math 9% / reading 28%, grade F, #960 of 1,115 statewide, top 86%, 393 students, 53% FRL); North Middle (math 16% / reading 28%, grade F, #332 of 391 statewide, top 86%, 674 students, 55% FRL); Hazelwood Central High (math 12% / reading 33%, grade F, #455 of 521 statewide, top 88%, 1,628 students, 52% FRL) — zoned schools at 53% FRL track the district average.
• Watch-outs: HOA is 20% of rent.
• Market conditions: 72 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 920 units permitted in St. Louis County in 2024 (250 in 5+ unit buildings).
• Current owner paid $133k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• 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 6.3% vs local median 5.2% in Old Jamestown — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.