13917 Falkirk Cir

Grandview, MO 64030

$189,000F

3 bd · 2.5 ba · 1,330 sqft · Built 1975 · Townhouse · Pending · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,774/mo
• Mortgage (P&I): −$991
• Tax + insurance: −$193
• HOA: −$225
• Vac / Maint / Mgmt: −$372
• Net cashflow: $-7/mo
• Annual: $-88/yr
• Cap rate: 6.25%
• Cash-on-cash: -0.17%
• DSCR: 0.99
• 1% rule: 0.94%
• Cash to close: $52,920

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $189k.
• At list price, monthly cash flow is $-7 ($-88/yr) — negative.
• To cash-flow at today's rent, offer at most $188k (0.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (6.1% below list).
• It's been on market 31 days — a 3% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $177k (6.1% 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 61/100 on livability (#454 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime F, amenities F.
• Grandview C-4 (suburban): math 17% / reading 32% proficiency, ranked #284 of 324 in MO (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Meadowmere Elem. (math 32% / reading 37%, grade F, #676 of 1,115 statewide, top 66%, 349 students, 66% FRL); Grandview Sr. High (math 15% / reading 41%, grade F, #414 of 521 statewide, top 80%, 1,122 students, 62% FRL) — zoned schools at 64% FRL track the district average.
• Market conditions: Rents rising fast (+6.1%/yr); 116 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• Jackson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 19y 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 $161k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 6.2% vs local median 5.0% in Grandview — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 40% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 31 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1975 — 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?