401 N 8th St · Columbia, MO 65201

$200,000

8 bd · 3.0 ba · 2,570 sqft · MultiFamily public records · 22 Days on market

Built 1910 6,279 sqft lot

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +4.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

This is an online auction. The starting bid of $200,000 does not reflect the selling price. Investment opportunity near Columbia College! This property consists of one parcel with two separate dwellings located at 401 N 8th Street and 717 Lyon Street, Columbia, MO, both zoned R-MF and offering excellent income-producing potential. 401 N 8th Street is a 2,570± sq. ft. rooming house featuring 8 bedrooms, 4 shared bathrooms, and 2 shared kitchens. Five of the eight units are currently rented, providing immediate rental income. 717 Lyon Street is a 2,200± sq. ft. duplex consisting of 2 units with a total of 5 bedrooms and 3 bathrooms. Both units are currently rented. Conveniently

Key facts

• Zoned r-mf
• Duplex
• 6,279 sq ft lot

Tags

• TWO SEPARATE DWELLINGS
• ZONED R-MF
• INCOME PRODUCING POTENTIAL
• IMMEDIATE RENTAL INCOME
• DUPLEX

Property features AI

Finance

• Financial info: Annual property tax approximately $1,695.84

Exterior

• Home design: Residential income property; Multi-family (rooming units); Zoned R-MF (Multiple-Family Dwelling)
• Exterior features: Lot dimensions approximately 91 x 69

Interior

• Interior features: Has basement

What this means for you Summary

Snapshot

• This is a 1×2bd/1ba + 1×3bd/1ba units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $865/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.7% 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.

Location & tenants

• 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: Thomas Benton Elem. (math 12% / reading 27%, grade F, #941 of 1,115 statewide, top 86%, 216 students, 99% FRL); Jefferson Middle School (math 45% / reading 54%, grade C, #74 of 391 statewide, top 20%, 625 students, 32% FRL); David H. Hickman High (math 27% / reading 55%, grade F, #236 of 521 statewide, top 45%, 2,044 students, 33% FRL) — zoned schools average 55% FRL vs 35% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+10.3%/yr); 355 active listings in the ZIP; 1,303 units permitted in Boone County in 2024 (549 in 5+ unit buildings).
• At $3,801/mo this rent would consume 95% of the median local household income ($48k/yr) (locally 4323% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Boone County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $197,000 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 1.90% ✓
• Cap rate: 16.67%
• Cash-on-cash: 37.06%
• DSCR: 2.65
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 38.3%
• Equity multiple: 2.75×
• Total profit: $97,810
• Equity at exit: $29,821

10-year hold

• IRR: 47.2%
• Equity multiple: 6.69×
• Total profit: $318,383
• Equity at exit: $17,292

Cash invested: $56,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 81 Strongly Landlord-Friendly
• State Missouri: 81 Strongly Landlord-Friendly · R+10
• County: — inherits STATE
• City: — inherits STATE

Generally landlord-friendly; St Louis has some habitability requirements.

Methodology + full state rankings →

ZIP-level market 65201

• Rents YoY: 10.3%
• Active inventory: 355
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $3,801 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$141 /mo · $1,696/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$798
• Net cashflow: $1,729

Break-even live

Break-even rent $1,612

Max offer price $200,000

Occupancy floor 50%

Sensitivity live

Price	-10% $1,843	-5% $1,786	+0% $1,729	+5% $1,673	+10% $1,616
Rent	-10% $1,429	-5% $1,579	+0% $1,729	+5% $1,879	+10% $2,030
Rate	-1.0pp $1,830	-0.5pp $1,780	base $1,729	+0.5pp $1,677	+1.0pp $1,625

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,812
1× unit	3	1	$1,989
Total (2 units)			$3,801

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $200,000 Active 22 DOM
2. 2026-06-18
   days on market $200,000 Active 21 DOM
3. 2026-06-17
   days on market $200,000 Active 20 DOM
4. 2026-06-16
   days on market $200,000 Active 19 DOM
5. 2026-06-15
   days on market $200,000 Active 18 DOM
6. 2026-06-14
   days on market $200,000 Active 16 DOM
7. 2026-06-13
   days on market $200,000 Active 15 DOM
8. 2026-06-10
   days on market $200,000 Active 13 DOM
9. 2026-06-09
   days on market $200,000 Active 12 DOM
10. 2026-06-08
    days on market $200,000 Active 11 DOM
11. 2026-06-07
    days on market $200,000 Active 10 DOM
12. 2026-06-05
    days on market $200,000 Active 7 DOM
13. 2026-06-03
    days on market $200,000 Active 6 DOM
14. 2026-06-02
    days on market $200,000 Active 5 DOM
15. 2026-05-31
    days on market $200,000 Active 3 DOM
16. 2026-05-30
    days on market $200,000 Active 2 DOM
17. 2026-05-27
    listed $200,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MO · Resets to sale price

• Current annual tax: $1,696 · $141/mo
• Projected year-2 tax: $1,940 · $162/mo
• Expected delta: +$244/yr (+$20/mo · 14.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,612
• − Mortgage interest: −$11,203
• − Property taxes: −$1,696
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,649
• − Management: −$3,649
• − Depreciation: −$5,818
• Taxable income: $18,597
• Est. tax owed @ 24.0%: −$4,463
• After-tax cash flow: $16,289/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Columbia 93
• NCES district ID: 2901000
• Math proficiency: 30% ▼ -12.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $46,547
• Composite: 31.21/100
• National rank: #6036
• State rank: #194 of 324 in MO

Livability — Columbia

• Score: 83/100
• State rank: #9
• US rank: #862

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime D+ Employment C+ Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbia, MO
• County: Boone County · 158,877 people
• City population: 158,877
• Metro: Columbia, MO
• Population (ZIP): 50,011
• Household income: $48,113
• Rent vs Own: 67.8% rent · 32.2% own
• Severe rent burden: 4323.0

Population outlook (Boone County) Hauer SSP2

• Today (2025): 202,891 people
• By 2030: 217,799 · +7.3%
• By 2040: 246,789 · +21.6%
• By 2050: 276,116 · +36.1%
• By 2075: 348,426 · +71.7%
• By 2100: 400,856 · +97.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 8% Two or more races 7% Asian 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Italian 2% Romanian 2%
• Foreign-born: 9% · China, Canada, Vietnam
• Languages at home: 88% English-only · Spanish 4% Chinese 2% Other Indo-European 2%

Political lean MEDSL · Boone

• 2024 margin: Lean D (+9.8) · D 53.9% · R 44.1% · Other 2.1%
• 2008→2024 swing: -2.2pp toward R · 2008: 12.0pp · 2024: 9.8pp
• All cycles: 2024: D+9.8 2020: D+12.5 2016: D+5.9 2012: D+3.1 2008: D+12.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -170.32%
• Current HPI: 195.2059
• Rent YoY: ▲ 10.33%
• Metro: Columbia, MO
• State GDP YoY: ▲ 1.84%
• F500 in state: 20

Industry mix (Fortune 500 HQ in MO)

Industry	F500 HQs	Revenue
▸Healthcare	1	$163B
▸Insurance	1	$21B
▸Industrial Technology	1	$17B
▸Retail	1	$16B
▸Industrial Distribution	1	$10B
▸Utilities	1	$9B

Price history

1 event — show timeline

• 2026-05-27 Listed $200,000 CBORMLS

Property tax history

+3.1%/yr

Latest (2025): $1,696 · +6.8% YoY. Source: county tax records.