5217 Collier Ct

Jefferson City, MO 65109

$357,500B-

8 bd · 4.0 ba · 3,432 sqft · Built 1990 · MultiFamily · Pending · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,330/mo
• Mortgage (P&I): −$1,875
• Tax + insurance: −$283
• HOA: −$0
• Vac / Maint / Mgmt: −$909
• Net cashflow: $1,263/mo
• Annual: $15,157/yr
• Cap rate: 10.53%
• Cash-on-cash: 15.14%
• DSCR: 1.67
• 1% rule: 1.21%
• Cash to close: $100,100

Investor read

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $358k.
• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $316/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $358k).
• It's been on market 42 days — a 3% lower offer ($347k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $347k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#7 in MO, #838 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-.
• Jefferson City (urban): math 34% / reading 48% proficiency, ranked #121 of 324 in MO (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+10.2%/yr); 248 active listings in the ZIP; 173 units permitted in Cole County in 2024 (0 in 5+ unit buildings).
• Cole County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 12y 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 + 8.0% rent growth), your $100k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 10.5% vs local median 3.7% in Jefferson City — 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.
• At $4,330/mo this rent would consume 70% of the median local household income ($75k/yr) (locally 984% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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?
• 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.