9450 Baltimore Ave

Overland, MO 63114

$114,900C+

2 bd · 1.0 ba · 1,038 sqft · Built 1928 · SingleFamily · Active · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,266/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$167
• HOA: −$0
• Vac / Maint / Mgmt: −$266
• Net cashflow: $231/mo
• Annual: $2,771/yr
• Cap rate: 8.70%
• Cash-on-cash: 8.61%
• DSCR: 1.38
• 1% rule: 1.10%
• Cash to close: $32,172

Investor read

• This is a 2-bed/1.0-bath single-family listed at $115k.
• At list price, monthly cash flow is $231 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• It's been on market 40 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#436 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Ritenour (suburban): math 13% / reading 27% proficiency, ranked #304 of 324 in MO (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Marion Elem. (math 18% / reading 30%, grade F, #907 of 1,115 statewide, top 81%, 475 students, 99% FRL); Ritenour Middle (math 15% / reading 28%, grade F, #339 of 391 statewide, top 87%, 467 students, 99% FRL); Ritenour Sr. High (math 9% / reading 36%, grade F, #455 of 521 statewide, top 88%, 1,873 students, 100% FRL) — zoned schools average 100% FRL vs 66% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+2.0%/yr); 120 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 46% 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 $50k; list at $115k implies a 132% gain — meaningful room to come down on a strong offer.
• Cap rate 8.7% vs local median 6.2% in Overland — 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 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1928 — 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 F-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?
• 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.