1912 Overland Dr

Overland, MO 63114

$250,000C-

4 bd · 2.0 ba · 1,265 sqft · Built 1952 · SingleFamily · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,843/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$272
• HOA: −$0
• Vac / Maint / Mgmt: −$597
• Net cashflow: $663/mo
• Annual: $7,952/yr
• Cap rate: 9.47%
• Cash-on-cash: 11.36%
• DSCR: 1.51
• 1% rule: 1.14%
• Cash to close: $70,000

Investor read

• This is a 4-bed/2.0-bath single-family listed at $250k.
• At list price, monthly cash flow is $663 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• It's been on market 35 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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: Iveland Elem. (math 9% / reading 25%, grade F, #967 of 1,115 statewide, top 88%, 439 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 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+2.0%/yr); 118 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 920 units permitted in St. Louis County in 2024 (250 in 5+ unit buildings).
• 3 sale attempts since 6y ago; this cycle's ask has dropped $50k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; list at $250k implies a 150% gain — meaningful room to come down on a strong offer.
• Cap rate 9.5% 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.
• At $2,843/mo this rent would consume 61% of the median local household income ($56k/yr) (locally 1595% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1952 — 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.