2828 Manderly Dr

Brentwood, MO 63144

$205,000C

2 bd · 1.0 ba · 927 sqft · Built 1940 · SingleFamily · Pending · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,924/mo
• Mortgage (P&I): −$1,075
• Tax + insurance: −$269
• HOA: −$0
• Vac / Maint / Mgmt: −$404
• Net cashflow: $177/mo
• Annual: $2,119/yr
• Cap rate: 7.33%
• Cash-on-cash: 3.69%
• DSCR: 1.16
• 1% rule: 0.94%
• Cash to close: $57,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $205k.
• At list price, monthly cash flow is $177 ($2k/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 $192k (6.1% below list).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $192k (6.1% 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 84/100 on livability (#6 in MO, #689 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, cost of living B; 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.
• Zoned schools: Mcgrath Elem. (math 67% / reading 67%, grade B+, #46 of 1,115 statewide, top 5%, 195 students, 16% FRL); Brentwood Middle (math 67% / reading 62%, grade A-, #5 of 391 statewide, top 2%, 163 students, 24% FRL); Brentwood High (math 62% / reading 74%, grade B, #12 of 521 statewide, top 2%, 191 students, 30% FRL).
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+1.5%/yr); 130 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals leasing fast (median 7d 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).
• 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 7.3% 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

• Built in 1940 — 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 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?
• 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.