1100 Kennesaw Ridge Rd #608

Columbia, MO 65202

$177,900D-

3 bd · 2.0 ba · 1,135 sqft · Built 2004 · Condo · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,612/mo
• Mortgage (P&I): −$933
• Tax + insurance: −$188
• HOA: −$232
• Vac / Maint / Mgmt: −$339
• Net cashflow: $-79/mo
• Annual: $-949/yr
• Cap rate: 5.76%
• Cash-on-cash: -1.90%
• DSCR: 0.92
• 1% rule: 0.91%
• Cash to close: $49,812

Investor read

• This is a 3-bed/2.0-bath condo listed at $178k.
• At list price, monthly cash flow is $-79 ($-949/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (7.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (9.4% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $161k (9.4% 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 $5k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#9 in MO, #862 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime D+.
• Columbia 93 (urban): math 30% / reading 43% proficiency, ranked #194 of 324 in MO (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Derby Ridge Elem. (math 13% / reading 24%, grade F, #960 of 1,115 statewide, top 86%, 395 students, 70% FRL); John B. Lange Middle (math 13% / reading 22%, grade F, #350 of 391 statewide, top 90%, 529 students, 65% FRL); Muriel W. Battle High School (math 7% / reading 47%, grade F, #420 of 521 statewide, top 82%, 1,581 students, 48% FRL) — zoned schools average 61% FRL vs 35% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 21% at this address vs 36% district-wide (-16 pts) — the specific schools serving this property underperform the Columbia 93 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+6.0%/yr); 351 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 78% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,303 units permitted in Boone County in 2024 (549 in 5+ unit buildings).
• Boone County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 5.8% vs local median 2.9% in Columbia — 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 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.
• 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?
• Crime grade is D 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.