4314 N Morgan Ct

Ozark, MO 65721

$352,000D

4 bd · 4.0 ba · 2,136 sqft · Built 1998 · MultiFamily · Pending · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,490/mo
• Mortgage (P&I): −$1,846
• Tax + insurance: −$327
• HOA: −$0
• Vac / Maint / Mgmt: −$523
• Net cashflow: $-206/mo
• Annual: $-2,467/yr
• Cap rate: 5.59%
• Cash-on-cash: -2.50%
• DSCR: 0.89
• 1% rule: 0.71%
• Cash to close: $98,560

Investor read

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $352k.
• At list price, monthly cash flow is $-206 ($-2k/yr) — negative. Per door: $-103/mo.
• To cash-flow at today's rent, offer at most $316k (10.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $249k (29.3% below list).
• It's been on market 38 days — a 3% lower offer ($341k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $249k (29.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#94 in MO) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Ozark R-VI (rural): math 60% / reading 62% proficiency, ranked #10 of 324 in MO (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Ozark High (math 47% / reading 64%, grade C, #64 of 521 statewide, top 12%, 1,838 students, 33% FRL) — zoned schools at 33% FRL track the district average.
• Market conditions: Rents rising fast (+5.3%/yr); 381 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 537 units permitted in Christian County in 2024 (0 in 5+ unit buildings).
• Christian County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.6% vs local median 2.8% in Ozark — 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.
• This rent runs 39% of the median local income ($78k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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?
• 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.