2580 Morningside Dr

Florissant, MO 63031

$185,000D-

4 bd · 2.0 ba · 912 sqft · Built 1964 · SingleFamily · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,652/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$262
• HOA: −$0
• Vac / Maint / Mgmt: −$347
• Net cashflow: $73/mo
• Annual: $879/yr
• Cap rate: 6.77%
• Cash-on-cash: 1.70%
• DSCR: 1.08
• 1% rule: 0.89%
• Cash to close: $51,800

Investor read

• This is a 4-bed/2.0-bath single-family listed at $185k.
• At list price, monthly cash flow is $73 ($879/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 $165k (10.7% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $165k (10.7% 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 73/100 on livability (#82 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime C-, amenities D+, commute F.
• Hazelwood (suburban): math 11% / reading 26% proficiency, ranked #306 of 324 in MO (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Jana Elem. (math 8% / reading 27%, grade F, #964 of 1,115 statewide, top 87%, 419 students, 62% FRL); North Middle (math 16% / reading 28%, grade F, #332 of 391 statewide, top 86%, 674 students, 55% FRL); Hazelwood Central High (math 12% / reading 33%, grade F, #455 of 521 statewide, top 88%, 1,628 students, 52% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: Rents rising fast (+4.3%/yr); 273 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 920 units permitted in St. Louis County in 2024 (250 in 5+ unit buildings).
• Current owner paid $127k; 46% 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.

Questions for listing agent

• Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.