14051 Dunbar Ct

Grandview, MO 64030

$147,900C-

3 bd · 2.0 ba · 1,536 sqft · Built 1974 · Townhouse · Active · 94 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,839/mo
• Mortgage (P&I): −$776
• Tax + insurance: −$165
• HOA: −$225
• Vac / Maint / Mgmt: −$386
• Net cashflow: $288/mo
• Annual: $3,454/yr
• Cap rate: 8.63%
• Cash-on-cash: 8.34%
• DSCR: 1.37
• 1% rule: 1.24%
• Cash to close: $41,412

Investor read

• This is a 3-bed/2.0-bath townhouse listed at $148k.
• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $148k).
• It's been on market 94 days — a 9% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $135k (9.0% below list) — sets the bar for market timing.
• 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 61/100 on livability (#454 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime F, amenities F.
• Grandview C-4 (suburban): math 17% / reading 32% proficiency, ranked #284 of 324 in MO (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Butcher-Greene Elem. (math 12% / reading 17%, grade F, #993 of 1,115 statewide, top 90%, 283 students, 78% FRL); Grandview Middle (math 18% / reading 39%, grade F, #303 of 391 statewide, top 78%, 517 students, 68% FRL); Grandview Sr. High (math 15% / reading 41%, grade F, #414 of 521 statewide, top 80%, 1,122 students, 62% FRL) — zoned schools at 69% FRL track the district average.
• Market conditions: Rents rising fast (+6.1%/yr); 121 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 4,002 units permitted in Jackson County in 2024 (2,271 in 5+ unit buildings).
• Jackson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 17y ago 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.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $41k cash investment doubles in ~9 years — after that, you're playing with house money.
• Cap rate 8.6% vs local median 5.0% in Grandview — 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 41% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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.