676 Coeur De Royale Dr Unit B

Creve Coeur, MO 63141

$109,900D

1 bd · 1.0 ba · 630 sqft · Built 1978 · Condo · Pending · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,177/mo
• Mortgage (P&I): −$576
• Tax + insurance: −$133
• HOA: −$273
• Vac / Maint / Mgmt: −$247
• Net cashflow: $-53/mo
• Annual: $-633/yr
• Cap rate: 5.72%
• Cash-on-cash: -2.06%
• DSCR: 0.91
• 1% rule: 1.07%
• Cash to close: $30,772

Investor read

• This is a 1-bed/1.0-bath condo listed at $110k.
• At list price, monthly cash flow is $-53 ($-633/yr) — negative.
• To cash-flow at today's rent, offer at most $101k (8.5% below list).
• Meets the 1% rule at list price ($1k rent vs $110k).
• It's been on market 38 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $101k (8.5% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#16 in MO, #1,519 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, commute A-; Watch: amenities C-, cost of living F.
• Parkway C-2 (suburban): math 49% / reading 62% proficiency, ranked #18 of 324 in MO (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Bellerive Elem. (math 42% / reading 52%, grade D-, #347 of 1,115 statewide, top 35%, 407 students, 20% FRL); Northeast Middle (math 33% / reading 47%, grade F, #185 of 391 statewide, top 48%, 703 students, 24% FRL); North High (math 35% / reading 70%, grade C-, #89 of 521 statewide, top 17%, 1,074 students, 34% FRL).
• Watch-outs: HOA is 23% of rent.
• Market conditions: Rents rising (+2.6%/yr); 137 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 920 units permitted in St. Louis County in 2024 (250 in 5+ unit buildings).
• Current owner paid $93k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.7% vs local median 2.7% in Creve Coeur — 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.
• This rent is only 11% of the median local income ($134k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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 38 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
• Built in 1978 — 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• 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?