2122 N 21st St

Ozark, MO 65721

$295,000D-

4 bd · 2.0 ba · 1,656 sqft · Built 2022 · Other · Active · 118 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,823/mo
• Mortgage (P&I): −$1,547
• Tax + insurance: −$408
• HOA: −$31
• Vac / Maint / Mgmt: −$383
• Net cashflow: $-546/mo
• Annual: $-6,548/yr
• Cap rate: 4.07%
• Cash-on-cash: -7.93%
• DSCR: 0.65
• 1% rule: 0.62%
• Cash to close: $82,600

Investor read

• This is a 4-bed/2.0-bath other listed at $295k.
• At list price, monthly cash flow is $-546 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $199k (32.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (38.2% below list).
• It's been on market 118 days — a 9% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $182k (38.2% 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 $9k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#94 in MO) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Ozark R-VI (rural): math 60% / reading 62% proficiency, ranked #10 of 324 in MO (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Ozark High (math 47% / reading 64%, grade C, #64 of 521 statewide, top 12%, 1,838 students, 33% FRL) — zoned schools at 33% FRL track the district average.
• Market conditions: Rents rising fast (+5.3%/yr); 379 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 537 units permitted in Christian County in 2024 (0 in 5+ unit buildings).
• Christian County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 4y 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 4.1% vs local median 2.8% in Ozark — 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 118 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.