843 Loekes Dr

Florissant, MO 63031

$100,000B+

2 bd · 1.0 ba · 800 sqft · Built 1954 · SingleFamily · Active · 90 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,372/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$182
• HOA: −$0
• Vac / Maint / Mgmt: −$288
• Net cashflow: $377/mo
• Annual: $4,526/yr
• Cap rate: 10.82%
• Cash-on-cash: 16.17%
• DSCR: 1.72
• 1% rule: 1.37%
• Cash to close: $28,000

Investor read

• This is a 2-bed/1.0-bath single-family listed at $100k. Condition is rated fair.
• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 90 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#82 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime C-, amenities D+, commute F.
• Hazelwood (suburban): math 11% / reading 26% proficiency, ranked #306 of 324 in MO (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Mccurdy Elem. (math 12% / reading 27%, grade F, #941 of 1,115 statewide, top 86%, 329 students, 67% FRL); Northwest Middle (math 18% / reading 26%, grade F, #332 of 391 statewide, top 86%, 767 students, 62% FRL); Hazelwood West High (math 16% / reading 42%, grade F, #407 of 521 statewide, top 78%, 2,042 students, 54% FRL).
• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+4.3%/yr); 397 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 51d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; 920 units permitted in St. Louis County in 2024 (250 in 5+ unit buildings).
• Current owner paid $62k; list at $100k implies a 60% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 10.8% vs local median 6.4% in Florissant — 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

• It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1954 — 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.
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Kitchen cabinets — Severe wear and outdated design.
• Major: Bathroom fixtures — Dirty and outdated appearance.
• Moderate: Exterior siding — Weathered and some discoloration.
• Major: Living room carpet — Worn and in need of replacement.
• Major: Paint throughout — Peeling and chipping in multiple rooms.
• Moderate: Landscaping — Overgrown areas and debris in yard and driveway.