2710 W Rollins Rd Unit AA-1

Columbia, MO 65203

$244,500D-

3 bd · 2.0 ba · 1,576 sqft · Built 1969 · Condo · Active · 77 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,870/mo
• Mortgage (P&I): −$1,282
• Tax + insurance: −$226
• HOA: −$335
• Vac / Maint / Mgmt: −$393
• Net cashflow: $-366/mo
• Annual: $-4,388/yr
• Cap rate: 4.50%
• Cash-on-cash: -6.41%
• DSCR: 0.71
• 1% rule: 0.77%
• Cash to close: $68,460

Investor read

• This is a 3-bed/2.0-bath condo listed at $244k.
• At list price, monthly cash flow is $-366 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $180k (26.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (23.5% below list).
• It's been on market 77 days — a 6% lower offer ($230k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $180k (26.4% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#9 in MO, #862 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime D+.
• Columbia 93 (urban): math 30% / reading 43% proficiency, ranked #194 of 324 in MO (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.1%/yr); 459 active listings in the ZIP; 16 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; 1,303 units permitted in Boone County in 2024 (549 in 5+ unit buildings).
• Boone County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts 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 4.5% vs local median 2.9% in Columbia — 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 77 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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?