125 Fort Hancock Cir

Wright City, MO 63390

$230,000F

2 bd · 2.0 ba · 1,099 sqft · Built 2005 · Condo · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,410/mo
• Mortgage (P&I): −$1,206
• Tax + insurance: −$221
• HOA: −$305
• Vac / Maint / Mgmt: −$296
• Net cashflow: $-619/mo
• Annual: $-7,425/yr
• Cap rate: 3.06%
• Cash-on-cash: -11.53%
• DSCR: 0.49
• 1% rule: 0.61%
• Cash to close: $64,400

Investor read

• This is a 2-bed/2.0-bath condo listed at $230k.
• At list price, monthly cash flow is $-619 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $121k (47.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (38.7% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $121k (47.5% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#194 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.
• Wright City R-II Of Warren County (town): math 32% / reading 41% proficiency, ranked #179 of 324 in MO (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wright City East Elem (282 students, 48% FRL); Wright City Middle (math 27% / reading 39%, grade F, #265 of 391 statewide, top 69%, 395 students, 50% FRL); Wright City High (math 17% / reading 42%, grade F, #382 of 521 statewide, top 78%, 536 students, 41% FRL) — zoned schools at 46% FRL track the district average.
• Watch-outs: HOA is 22% of rent.
• Market conditions: 267 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 424 units permitted in Warren County in 2024 (126 in 5+ unit buildings).
• 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.

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.
• 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.
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.