9039 W Swan Cir

Brentwood, MO 63144

$149,000C-

2 bd · 1.0 ba · 964 sqft · Built 1950 · Condo · Active · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,798/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$305
• HOA: −$402
• Vac / Maint / Mgmt: −$378
• Net cashflow: $-68/mo
• Annual: $-812/yr
• Cap rate: 6.28%
• Cash-on-cash: -0.03%
• DSCR: 1.00
• 1% rule: 1.21%
• Cash to close: $41,720

Investor read

• This is a 2-bed/1.0-bath condo listed at $149k.
• At list price, monthly cash flow is $-68 ($-812/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (8.0% below list).
• Meets the 1% rule at list price ($2k rent vs $149k).
• It's been on market 55 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $137k (8.0% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#6 in MO, #689 nationally) — a professional / high-income tenant draw. Strengths: schools A+, employment A+, housing A+; Watch: crime C-.
• Brentwood (suburban): math 65% / reading 66% proficiency, ranked #4 of 324 in MO (top 1%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Watch-outs: flood insurance adds $66/mo; HOA is 22% of rent; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+1.5%/yr); 130 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 920 units permitted in St. Louis County in 2024 (250 in 5+ unit buildings).
• 5 sale attempts since 3y 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.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.3% vs local median 4.8% in Brentwood — 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.

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 55 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?