6874 Sni A Bar Rd

Kansas City, MO 64129

$195,950F

2 bd · 1.0 ba · 1,148 sqft · Built 1962 · SingleFamily · Active · 102 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,277/mo
• Mortgage (P&I): −$1,028
• Tax + insurance: −$236
• HOA: −$0
• Vac / Maint / Mgmt: −$268
• Net cashflow: $-254/mo
• Annual: $-3,047/yr
• Cap rate: 4.74%
• Cash-on-cash: -5.55%
• DSCR: 0.75
• 1% rule: 0.65%
• Cash to close: $54,866

Investor read

• This is a 2-bed/1.0-bath single-family listed at $196k.
• At list price, monthly cash flow is $-254 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (22.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (34.8% below list).
• It's been on market 102 days — a 9% lower offer ($178k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $128k (34.8% 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 78/100 on livability (#28 in MO, #2,671 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools C-, crime F.
• Raytown C-2 (suburban): math 12% / reading 28% proficiency, ranked #302 of 324 in MO (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 52 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 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.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $14k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 4.7% vs local median 3.9% in Kansas City — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 102 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
• Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.