808 Dumont Pl Unit E

Lemay, MO 63125

$65,000D

1 bd · 1.0 ba · 665 sqft · Built 1968 · Condo · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $920/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$108
• HOA: −$315
• Vac / Maint / Mgmt: −$193
• Net cashflow: $-37/mo
• Annual: $-448/yr
• Cap rate: 5.60%
• Cash-on-cash: -2.46%
• DSCR: 0.89
• 1% rule: 1.42%
• Cash to close: $18,200

Investor read

• This is a 1-bed/1.0-bath condo listed at $65k. Condition is rated good.
• At list price, monthly cash flow is $-37 ($-448/yr) — negative.
• To cash-flow at today's rent, offer at most $60k (8.3% below list).
• Meets the 1% rule at list price ($920 rent vs $65k).
• It's been on market 22 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $60k (8.3% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#213 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, crime F.
• Mehlville R-IX (suburban): math 31% / reading 48% proficiency, ranked #126 of 324 in MO (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Forder Elem. (math 22% / reading 27%, grade F, #879 of 1,115 statewide, top 81%, 363 students, 52% FRL); Mehlville High School (math 26% / reading 54%, grade F, #243 of 521 statewide, top 47%, 1,440 students, 43% FRL) — zoned schools average 47% FRL vs 22% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: HOA is 34% of rent.
• Market conditions: 146 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 920 units permitted in St. Louis County in 2024 (250 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• 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.
• This rent is only 18% of the median local income ($62k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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?
• Built in 1968 — 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.
• 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?
• 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?

Repairs flagged (vision-AI assessment)

• Minor: kitchen cabinets — can be replaced with modern ones
• Minor: kitchen backsplash — can be updated with a more modern design