411 W Spring St · Boonville, MO 65233

$85,000

2 bd · 2.0 ba · 780 sqft · Other public records · 34 Days on market

Built 1952

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Why this score? — see what drove the C+ 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 +26.3/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This listing includes MLS #16-151 which is the little house. Main house is up and down apartment. Each apartment has 2 Bedrooms, Living Room and Bath. Recent paint and carpet. Ready to rent, vacant now for showing but has rented for main level $450 and lower level $350. Each apartment has a refrigerator & stove. The main level has a stacked washer/dryer, lower level has hook ups.

Key facts

• Built 1952
• Listed 34 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $85k.

Deal economics

• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($963 rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 4.6% in Boonville — 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 61/100 on livability (#410 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Boonville R-I (town): math 31% / reading 39% proficiency, ranked #215 of 324 in MO (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 138 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 10 units permitted in Cooper County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cooper County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.13% ✓
• Cap rate: 9.40%
• Cash-on-cash: 11.09%
• DSCR: 1.49
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $220
• Equity at exit: $12,674

10-year hold

• IRR: 9.9%
• Equity multiple: 1.76×
• Total profit: $18,172
• Equity at exit: $7,349

Cash invested: $23,800 (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 65233

• Active inventory: 138
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $963 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$60 /mo · $716/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $220

Break-even live

Break-even rent $685

Max offer price $85,000

Occupancy floor 72%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
622 7th St Unit B Boonville, MO	2.0	1.0	700	$1,100	$1.57	43d	1	0.77mi
622 7th St Unit 622 7th St-C Boonville, MO	1.0	1.0	700	$900	$1.29	20d	1	0.77mi
1214 Commercial St Apt C Boonville, MO	2.0	1.0	850	$850	$1.00	20d	1	1.21mi

Listing history 18 events

1. 2026-06-15
   days on market $85,000 Active 34 DOM
2. 2026-06-14
   days on market $85,000 Active 32 DOM
3. 2026-06-13
   days on market $85,000 Active 31 DOM
4. 2026-06-10
   days on market $85,000 Active 29 DOM
5. 2026-06-09
   days on market $85,000 Active 28 DOM
6. 2026-06-08
   days on market $85,000 Active 27 DOM
7. 2026-06-07
   days on market $85,000 Active 26 DOM
8. 2026-06-05
   days on market $85,000 Active 23 DOM
9. 2026-06-02
   days on market $85,000 Active 21 DOM
10. 2026-06-01
    days on market $85,000 Active 20 DOM
11. 2026-05-31
    days on market $85,000 Active 19 DOM
12. 2026-05-30
    days on market $85,000 Active 18 DOM
13. 2026-05-12
    listed $85,000 Active 334-char remark
14. 2016-10-04
    soldstatus
15. 2016-10-03
    soldstatus 388-char remark

    Show marketing remark (388 chars)

    This listing includes MLS #16-151 which is the little house. Main house is up and down apartment. Each apartment has 2 Bedrooms, Living Room and Bath. Recent paint and carpet. Ready to rent, vacant now for showing but has rented for main level $450 and lower level $350. Each apartment has a refrigerator & stove. The main level has a stacked washer/dryer, lower level has hook ups.

16. 2016-03-08
    listed $59,900 388-char remark

    Show marketing remark (388 chars)

    This listing includes MLS #16-151 which is the little house. Main house is up and down apartment. Each apartment has 2 Bedrooms, Living Room and Bath. Recent paint and carpet. Ready to rent, vacant now for showing but has rented for main level $450 and lower level $350. Each apartment has a refrigerator & stove. The main level has a stacked washer/dryer, lower level has hook ups.

17. 2005-03-29
    soldstatus
18. 1997-10-14
    soldstatus

ⓘ 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: $716 · $60/mo
• Projected year-2 tax: $824 · $69/mo
• Expected delta: +$109/yr (+$9/mo · 15.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,556
• − Mortgage interest: −$4,761
• − Property taxes: −$716
• − Insurance: −$425
• − Repairs & maintenance: −$924
• − Management: −$924
• − Depreciation: −$2,473
• Taxable income: $1,332
• Est. tax owed @ 24.0%: −$320
• After-tax cash flow: $2,320/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: Boonville R-I
• NCES district ID: 2905580
• Math proficiency: 31% ▼ -7.00%
• Reading proficiency: 39% ▼ -5.00%
• Median HH income: $44,038
• Composite: 29.75/100
• National rank: #6441
• State rank: #215 of 324 in MO

Livability — Boonville

• Score: 61/100
• State rank: #410
• US rank: #17337

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boonville, MO
• Population (ZIP): 10,853

Population outlook (Cooper County) Hauer SSP2

• Today (2025): 17,611 people
• By 2030: 17,665 · +0.3%
• By 2040: 17,445 · -0.9%
• By 2050: 16,916 · -3.9%
• By 2075: 15,807 · -10.2%
• By 2100: 13,148 · -25.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 8% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Lithuanian 2% Iranian 2%
• Foreign-born: 1%
• Languages at home: 96% English-only · Spanish 1% German/W. Germanic 1% Chinese 1%

Political lean MEDSL · Cooper

• 2024 margin: Solid R (+45.8) · D 26.6% · R 72.4% · Other 1.1%
• 2008→2024 swing: -22.1pp toward R · 2008: -23.8pp · 2024: -45.8pp
• All cycles: 2024: R+45.8 2020: R+46.3 2016: R+46.3 2012: R+32.1 2008: R+23.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -214.93%
• Current HPI: 213.6529
• Rent YoY: —
• Metro: —
• 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

5 events — show timeline

• 2016-10-04 Sold (Public Records) — Public Records
• 2016-10-03 Sold (MLS) — CMBR
• 2016-03-08 Listed $59,900 CMBR
• 2005-03-29 Sold (Public Records) — Public Records
• 1997-10-14 Sold (Public Records) — Public Records

Property tax history

+2.8%/yr

Latest (2025): $716 · +7.8% YoY. Source: county tax records.