695 Castle Ct

Three Creeks, MO 63357

$199,000D

4 bd · 2.5 ba · 1,866 sqft · Built 1992 · Other · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,901/mo
• Mortgage (P&I): −$1,044
• Tax + insurance: −$222
• HOA: −$197
• Vac / Maint / Mgmt: −$399
• Net cashflow: $40/mo
• Annual: $474/yr
• Cap rate: 6.53%
• Cash-on-cash: 0.85%
• DSCR: 1.04
• 1% rule: 0.96%
• Cash to close: $55,720

Investor read

• This is a 4-bed/2.5-bath other listed at $199k.
• At list price, monthly cash flow is $40 ($474/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 $190k (4.5% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $190k (4.5% 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 40/100 on livability (#993 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Washington (town): math 41% / reading 55% proficiency, ranked #46 of 324 in MO (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Marthasville Elementary (math 37% / reading 42%, grade F, #537 of 1,115 statewide, top 53%, 181 students, 37% FRL); Washington Middle (math 43% / reading 54%, grade C-, #81 of 391 statewide, top 21%, 551 students, 31% FRL); Washington High School (math 29% / reading 73%, grade D+, #109 of 521 statewide, top 21%, 1,322 students, 20% FRL) — zoned schools at 29% FRL track the district average.
• Market conditions: 104 active listings in the ZIP; 424 units permitted in Warren County in 2024 (126 in 5+ unit buildings).

Questions for listing agent

• 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.