11889 Units 1 & 2 Wood Oak Ave · Richmond, MO 64085

$259,000

6 bd · 3.0 ba · 2,910 sqft · MultiFamily · 29 Days on market

Built 2004 Good condition 0.33 ac lot

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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 +22.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.8/10.0
• Appreciation +5.1/10.0
• Condition / age +3.8/5.0
• Livability +3.4/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0

Multi-family units

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

Listing remarks

Investor special! This fully leased, well maintained duplex offers private living on a quiet avenue. Each has 2 bedrooms, 1 bath, full eat-in kitchen and living room. Ceiling fans in all of the rooms. No impending maintenance and current rent is below market rate. The landlord has consistently maintained this duplex over time, replacing the HVAC, dishwashers, stove, fridges, garage door openers and water heaters, as needed. The laundry room is off the kitchen; very easy one level living. Private sewer to holding facility and is then pumped to the city sewer. Seller pays the sewer bill. Tenants are responsible for all other utilities.

Key facts

• 0.33 acre lot
• Garage
• Built 2004

Property features AI

Finance

• Other: Property contains 2 total units (3 unit entries indicate 2 units of one type and 1 of another but total units listed as 2); Unit layout consistent: 2-bedroom, 1-bath units (listed unit size 970); Occupancy rate over 95%
• Financial info: Gross income reported: $19,200; Operating expenses include insurance, property management, real estate tax, and water/sewer

Exterior

• Parking: Attached garage (2 parking spaces total)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Separate meters
• Home design: Duplex (residential income property); Single-story; Zoned rural
• Construction: Frame construction with vinyl siding; Composition roof
• Exterior features: Patio; Private entrance; Paved road access

Interior

• Kitchen: Dishwasher; Disposal; Refrigerator; Built-in oven; Range/oven
• Bedrooms: Two-bedroom units (all units are 2-bedroom)
• Bathrooms: One bathroom per unit
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Window coverings; Private entrances (per unit)
• Laundry & utility: Inside laundry; Hot water heater; Separate meters

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $259k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $414 ($5k/yr) — positive. Per door: $207/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $259k).
• Recommended offer: $255k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 3.7% in Richmond — 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 67/100 on livability (#198 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Richmond R-XVI (town): math 32% / reading 39% proficiency, ranked #209 of 324 in MO (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Richmond High (math 22% / reading 47%, grade F, #321 of 521 statewide, top 67%, 454 students, 32% FRL).
• Market conditions: 99 active listings in the ZIP; 56 units permitted in Ray County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($2k loan paydown + $766 appreciation (0.3% local appreciation)).
• Ray County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.3% appreciation + 3.0% rent growth), your $73k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($255k) is reasonable based on typical stale-listing flexibility.

Recommended offer $255,115 (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. 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 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: 1.08% ✓
• Cap rate: 8.21%
• Cash-on-cash: 6.85%
• DSCR: 1.30
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.3% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.4%
• Equity multiple: 1.31×
• Total profit: $22,469
• Equity at exit: $79,059

10-year hold

• IRR: 11.2%
• Equity multiple: 2.27×
• Total profit: $91,829
• Equity at exit: $98,165

Cash invested: $72,520 (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 64085

• Home prices YoY: 0.1%
• Active inventory: 99
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $2,790 medium
• Mortgage (P&I): −$1,358
• Tax est. 1.5%: −$324 /mo · $3,885/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$586
• Net cashflow: $414

Break-even live

Break-even rent $2,266

Max offer price $259,000

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,790
Total (2 units)			$2,790

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $259,000 Active 29 DOM
2. 2026-06-18
   price $259,000 Active 28 DOM
3. 2026-06-17
   days on market $265,000 Active 28 DOM
4. 2026-06-16
   days on market $265,000 Active 27 DOM
5. 2026-06-15
   days on market $265,000 Active 26 DOM
6. 2026-06-13
   days on market $265,000 Active 24 DOM
7. 2026-06-12
   days on market $265,000 Active 23 DOM
8. 2026-06-09
   days on market $265,000 Active 20 DOM
9. 2026-06-08
   days on market $265,000 Active 19 DOM
10. 2026-06-07
    days on market $265,000 Active 18 DOM
11. 2026-06-07
    days on market $265,000 Active 17 DOM
12. 2026-06-04
    days on market $265,000 Active 14 DOM
13. 2026-06-02
    days on market $265,000 Active 13 DOM
14. 2026-06-01
    days on market $265,000 Active 12 DOM
15. 2026-05-31
    days on market $265,000 Active 11 DOM
16. 2026-05-21
    listed $265,000 Active
17. 2026-05-20
    historical $265,000

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

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 · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,480
• − Mortgage interest: −$14,508
• − Property taxes: −$3,885
• − Insurance: −$1,295
• − Repairs & maintenance: −$2,678
• − Management: −$2,678
• − Depreciation: −$7,535
• Taxable income: $901
• Est. tax owed @ 24.0%: −$216
• After-tax cash flow: $4,754/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained, fully leased duplex offers private living and is ready for a new owner to make minor updates for a significant return on investment.

Repairs flagged

• Minor Kitchen cabinets — Worn appearance suggests some touch-up or replacement is needed.
• Minor Bathtub — Visible scuff marks suggest a need for cleaning or refinishing.

Value-add opportunities

• Both Paint interior walls — Fresh paint can enhance the home's appeal and value.
• Both Replace worn kitchen cabinets — New cabinets can significantly improve the kitchen's functionality and aesthetics.
• Both Update countertops — Modern countertops can enhance the kitchen's functionality and appeal.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance suggests some touch-up or replacement is needed.	Minor	$500–3,000
Bathtub · Visible scuff marks suggest a need for cleaning or refinishing.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can enhance the home's appeal and value. ↑
• Both Replace worn kitchen cabinets — New cabinets can significantly improve the kitchen's functionality and aesthetics. ↑
• Both Update countertops — Modern countertops can enhance the kitchen's functionality and appeal. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Richmond R-XVI
• NCES district ID: 2926480
• Math proficiency: 32% ▼ -11.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $44,070
• Composite: 30.17/100
• National rank: #6321
• State rank: #209 of 324 in MO

Livability — Richmond

• Score: 67/100
• State rank: #198
• US rank: #10160

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,113

Population outlook (Ray County) Hauer SSP2

• Today (2025): 21,420 people
• By 2030: 20,507 · -4.3%
• By 2040: 18,550 · -13.4%
• By 2050: 16,516 · -22.9%
• By 2075: 12,899 · -39.8%
• By 2100: 10,413 · -51.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 3% Two or more races 3% Black 2% Native American 1%
• Common ancestry: Lithuanian 3% Slovak 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Ray

• 2024 margin: Solid R (+48.7) · D 25.1% · R 73.8% · Other 1.1%
• 2008→2024 swing: -45.5pp toward R · 2008: -3.2pp · 2024: -48.7pp
• All cycles: 2024: R+48.7 2020: R+45.0 2016: R+37.1 2012: R+14.9 2008: R+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.30%
• Current HPI: 374.3671
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-21 Listed $265,000 Heartland MLS as Distributed by MLS Grid
• 2026-05-20 Coming Soon $265,000 Heartland MLS as Distributed by MLS Grid