1001 Twin Oaks Ter

Harrisonville, MO 64701

$1,176,000D+

14 bd · 11.5 ba · 3,867 sqft · Built 1984 · MultiFamily · Active · 350 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $10,875/mo
• Mortgage (P&I): −$6,167
• Tax + insurance: −$970
• HOA: −$0
• Vac / Maint / Mgmt: −$2,284
• Net cashflow: $1,454/mo
• Annual: $17,447/yr
• Cap rate: 7.78%
• Cash-on-cash: 5.30%
• DSCR: 1.24
• 1% rule: 0.92%
• Cash to close: $329,280

Investor read

• This is a 14-bed/11.5-bath multifamily listed at $1.18M.
• At list price, monthly cash flow is $1k ($17k/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 $1.09M (7.5% below list).
• It's been on market 350 days — a 12% lower offer ($1.03M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $1.03M (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $8k of loan paydown is wiped out by about $35k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#231 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Harrisonville R-IX (town): math 32% / reading 46% proficiency, ranked #150 of 324 in MO (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Harrisonville Elem. (math 37% / reading 42%, grade F, #537 of 1,115 statewide, top 53%, 416 students, 36% FRL); Harrisonville Middle (math 36% / reading 46%, grade F, #172 of 391 statewide, top 46%, 539 students, 34% FRL); Harrisonville High (math 22% / reading 52%, grade F, #291 of 521 statewide, top 60%, 746 students, 26% FRL) — zoned schools at 32% FRL track the district average.
• Market conditions: 124 active listings in the ZIP; 588 units permitted in Cass County in 2024 (0 in 5+ unit buildings).
• Cass County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Cap rate 7.8% vs local median 3.3% in Harrisonville — 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

• It's been on market 350 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.