108 Garden Cir #3

Branson, MO 65616

$150,000D

3 bd · 1.0 ba · 1,135 sqft · Built 2006 · Condo · Pending · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,294/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$180
• HOA: −$153
• Vac / Maint / Mgmt: −$272
• Net cashflow: $-97/mo
• Annual: $-1,161/yr
• Cap rate: 5.96%
• Cash-on-cash: -1.18%
• DSCR: 0.95
• 1% rule: 0.86%
• Cash to close: $42,000

Investor read

• This is a 3-bed/1.0-bath condo listed at $150k.
• At list price, monthly cash flow is $-97 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $133k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (13.7% below list).
• It's been on market 26 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $129k (13.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#32 in MO, #2,940 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: employment C-, crime F.
• Branson R-IV (rural): math 48% / reading 52% proficiency, ranked #44 of 324 in MO (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cedar Ridge Primary (345 students, 72% FRL); Branson Jr. High (math 48% / reading 49%, grade C-, #81 of 391 statewide, top 21%, 724 students, 51% FRL); Branson High (math 42% / reading 56%, grade D, #145 of 521 statewide, top 28%, 1,423 students, 46% FRL).
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: Rents rising (+2.9%/yr); 1057 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 331 units permitted in Taney County in 2024 (50 in 5+ unit buildings).
• Taney County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 2.6% in Branson — 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

• 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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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?
• 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.