15190 N Cherry Ct

Parkville, MO 64152

$675,000D-

5 bd · 4.0 ba · 3,523 sqft · Built 2013 · SingleFamily · Active · 56 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,538/mo
• Mortgage (P&I): −$3,540
• Tax + insurance: −$912
• HOA: −$66
• Vac / Maint / Mgmt: −$533
• Net cashflow: $-2,513/mo
• Annual: $-30,153/yr
• Cap rate: 1.83%
• Cash-on-cash: -15.95%
• DSCR: 0.29
• 1% rule: 0.38%
• Cash to close: $189,000

Investor read

• This is a 5-bed/4.0-bath single-family listed at $675k.
• At list price, monthly cash flow is $-3k ($-30k/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (65.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $254k (62.4% below list).
• It's been on market 56 days — a 3% lower offer ($655k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $231k (65.8% below list) — sets the bar for cash-flow.
• In year one you build about $72k of equity ($5k loan paydown + $68k appreciation (10.0% local appreciation)).
• Location reads 76/100 on livability (#51 in MO, #3,695 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Park Hill (urban): math 47% / reading 54% proficiency, ranked #26 of 324 in MO (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+7.0%/yr); 264 active listings in the ZIP; high-income renter base; 234 units permitted in Platte County in 2024 (0 in 5+ unit buildings).
• Platte County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $40k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 2, paydown + projected appreciation supports a ~$116k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 56 days. Have you received any prior offers? Is the seller open to a 66% 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?
• 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.
• 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.