1121 N College Dr

Maryville, MO 64468

$5,000,000B-

None bd · 11664.0 ba · — sqft · Built 1972 · MultiFamily · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $65,039/mo
• Mortgage (P&I): −$26,221
• Tax + insurance: −$8,333
• HOA: −$0
• Vac / Maint / Mgmt: −$13,658
• Net cashflow: $16,827/mo
• Annual: $201,923/yr
• Cap rate: 10.33%
• Cash-on-cash: 14.42%
• DSCR: 1.64
• 1% rule: 1.30%
• Cash to close: $1,400,000

Investor read

• This is a 108 × 1-bed/1-bath units multifamily listed at $5.00M. Condition is rated good.
• At list price, monthly cash flow is $17k ($202k/yr) — positive. Per door: $156/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($65k rent vs $5.00M).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $35k of loan paydown is wiped out by about $150k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#23 in MO, #2,122 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: employment D, commute F.
• Maryville R-II (town): math 42% / reading 53% proficiency, ranked #79 of 324 in MO (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eugene Field Elem. (math 47% / reading 52%, grade D, #284 of 1,115 statewide, top 30%, 318 students, 52% FRL); Maryville Middle (math 41% / reading 50%, grade D+, #105 of 391 statewide, top 27%, 442 students, 40% FRL); Maryville High (math 42% / reading 72%, grade C, #51 of 521 statewide, top 11%, 506 students, 31% FRL) — zoned schools average 41% FRL vs 25% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 133 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 49 units permitted in Nodaway County in 2024 (0 in 5+ unit buildings).
• Nodaway County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 2y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $1.40M cash investment doubles in ~9 years — after that, you're playing with house money.
• Cap rate 10.3% vs local median 4.2% in Maryville — 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

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1972 — 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.
• 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?
• 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.