1741 Gascony Parc Dr

Lake St. Louis, MO 63367

$94,900B

2 bd · 1.0 ba · 864 sqft · Built 1970 · Condo · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,952/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$158
• HOA: −$428
• Vac / Maint / Mgmt: −$410
• Net cashflow: $458/mo
• Annual: $5,495/yr
• Cap rate: 12.08%
• Cash-on-cash: 20.68%
• DSCR: 1.92
• 1% rule: 2.06%
• Cash to close: $26,572

Investor read

• This is a 2-bed/1.0-bath condo listed at $95k. Condition is rated good.
• At list price, monthly cash flow is $458 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Wentzville R-IV (suburban): math 44% / reading 52% proficiency, ranked #32 of 324 in MO (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Lakeview Elementary (math 50% / reading 56%, grade C, #221 of 1,115 statewide, top 20%, 630 students, 12% FRL); Emil E. Holt Sr. High (math 48% / reading 58%, grade C-, #88 of 521 statewide, top 17%, 1,273 students, 12% FRL).
• Watch-outs: HOA is 22% of rent.
• Market conditions: Rents rising fast (+4.2%/yr); 230 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 2,021 units permitted in St. Charles County in 2024 (568 in 5+ unit buildings).
• St. Charles County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 9y 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 + 4.2% rent growth), your $27k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 12.1% vs local median 3.1% in Lake St. Louis — 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 17% of the median local income ($138k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• Built in 1970 — 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.
• 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.