9060 Patrick Dr

St. John, MO 63114

$95,000C

1 bd · 1.0 ba · 749 sqft · Built 1925 · SingleFamily · Active · 91 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $998/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$190
• HOA: −$0
• Vac / Maint / Mgmt: −$210
• Net cashflow: $100/mo
• Annual: $1,204/yr
• Cap rate: 8.26%
• Cash-on-cash: 7.03%
• DSCR: 1.31
• 1% rule: 1.05%
• Cash to close: $26,600

Investor read

• This is a 1-bed/1.0-bath single-family listed at $95k.
• At list price, monthly cash flow is $100 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($998 rent vs $95k).
• It's been on market 91 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Ritenour (suburban): math 13% / reading 27% proficiency, ranked #304 of 324 in MO (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: flood insurance adds $56/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+2.0%/yr); 118 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 920 units permitted in St. Louis County in 2024 (250 in 5+ unit buildings).
• 4 sale attempts since 9y 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.
• Current owner paid $10k; list at $95k implies a 850% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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.