1310 Lexington Ave #24 · Cape Girardeau, MO 63701

$111,900

3 bd · 1.5 ba · 1,176 sqft · Condo public records · 52 Days on market

Built 1982 $150/mo HOA · 12% of rent

---

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 +19.1/30.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• DSCR +6.0/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for an affordable house or investment property in the Alma Schrader school district? This 4 bedroom, 2 full bath, move-in ready condo, would make the perfect home for a growing family, or someone that demands a little more space at an affordable price. With over 1200 sq. ft. of finished living space, the condo is in great condition and move-in ready. New paint throughout, new laminate flooring added to the main level bedroom, living room, and dining room, and new carpet in two of the upstairs bedrooms. The home features open dining/living room area, and offers plenty of storage space throughout the home. There is a main level laundry located off the kitchen. The home is all electric, with central heat and air, and all kitchen appliances are included. Low average monthly utilities which includes electric, water, sewer, and trash. Outside is a fenced private patio and courtyard area, perfect for relaxing. So much to offer in this adorable home.

Key facts

• Near parks
• Well maintained
• Functional layout

Tags

• WELL MAINTAINED
• FUNCTIONAL LAYOUT
• NEAR LOCAL AMENITIES
• NEAR PARKS

Property features AI

Finance

• Other: Annual tax information available
• HOA & community: Heritage Park community association; Monthly HOA fee of $150; HOA covers grounds maintenance and exterior maintenance; No listed association amenities

Exterior

• Utilities: Public water; Public sewer; Electric service provided by Ameren; Electricity available; Water available
• Home design: Residential condominium; Two stories; Above-grade finished area reported
• Construction: Brick veneer, stone veneer, and vinyl siding exterior
• Exterior features: Small yard (0.015 acres)

Interior

• Bedrooms: Four bedrooms total; One bedroom on the main level; Three bedrooms on the upper level
• Bathrooms: Two full bathrooms total; One full bathroom on the main level; One full bathroom on the upper level
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Two-level layout; Nine total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $112k.

Deal economics

• At list price, monthly cash flow is $52 ($629/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• Recommended offer: $109k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 3.9% in Cape Girardeau — 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 64/100 on livability (#297 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Cape Girardeau 63 (urban): math 33% / reading 42% proficiency, ranked #188 of 324 in MO (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Alma Schrader Elem. (math 42% / reading 57%, grade D, #284 of 1,115 statewide, top 30%, 351 students, 0% FRL); Central High (math 36% / reading 47%, grade F, #234 of 521 statewide, top 45%, 1,341 students, 0% FRL) — zoned schools average 0% FRL vs 60% district-wide (60 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.3%/yr); 326 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 81 units permitted in Cape Girardeau County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $774 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cape Girardeau County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,543 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.10% ✓
• Cap rate: 7.57%
• Cash-on-cash: 4.55%
• DSCR: 1.20
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.27% rent growth · sell at horizon

5-year hold

• IRR: -12.6%
• Equity multiple: 0.54×
• Total profit: $-14,351
• Equity at exit: $16,685

10-year hold

• IRR: -3.0%
• Equity multiple: 0.80×
• Total profit: $-6,373
• Equity at exit: $9,675

Cash invested: $31,332 (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 63701

• Rents YoY: 3.3%
• Active inventory: 326
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,232 medium
• Mortgage (P&I): −$587
• Tax from tax record: −$71 /mo · $850/yr
• Insurance: −$47
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$150
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $52

Break-even live

Break-even rent $1,166

Max offer price $111,900

Occupancy floor 91%

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: $27,975
• Closing costs: $3,357
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2070 N Sprigg St Cape Girardeau, MO	1.0–4.0	1.0–4.0	979	$1,560	$1.59	44d	1	1.01mi
1710 N Sprigg St Cape Girardeau, MO	2.0–4.0	2.0–4.0	1208	$604	$0.50	44d	1	1.16mi

HOA detail condo

• Monthly dues: $150 · $1,800/yr
• Likely covers: watersewertrashelectric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-19
   days on market $111,900 Active 52 DOM
2. 2026-06-18
   days on market $111,900 Active 51 DOM
3. 2026-06-17
   days on market $111,900 Active 50 DOM
4. 2026-06-16
   days on market $111,900 Active 49 DOM
5. 2026-06-15
   days on market $111,900 Active 48 DOM
6. 2026-06-14
   days on market $111,900 Active 46 DOM
7. 2026-06-13
   days on market $111,900 Active 45 DOM
8. 2026-06-10
   days on market $111,900 Active 43 DOM
9. 2026-06-09
   days on market $111,900 Active 42 DOM
10. 2026-06-08
    days on market $111,900 Active 41 DOM
11. 2026-06-07
    days on market $111,900 Active 40 DOM
12. 2026-06-05
    days on market $111,900 Active 37 DOM
13. 2026-06-03
    days on market $111,900 Active 36 DOM
14. 2026-06-02
    days on market $111,900 Active 35 DOM
15. 2026-06-01
    days on market $111,900 Active 34 DOM
16. 2026-05-31
    days on market $111,900 Active 33 DOM
17. 2026-05-30
    days on market $111,900 Active 32 DOM
18. 2026-04-28
    listed $111,900 Active 532-char remark
19. 2017-05-03
    soldstatus 973-char remark

    Show marketing remark (973 chars)

    Looking for an affordable house or investment property in the Alma Schrader school district? This 4 bedroom, 2 full bath, move-in ready condo, would make the perfect home for a growing family, or someone that demands a little more space at an affordable price. With over 1200 sq. ft. of finished living space, the condo is in great condition and move-in ready. New paint throughout, new laminate flooring added to the main level bedroom, living room, and dining room, and new carpet in two of the upstairs bedrooms. The home features open dining/living room area, and offers plenty of storage space throughout the home. There is a main level laundry located off the kitchen. The home is all electric, with central heat and air, and all kitchen appliances are included. Low average monthly utilities which includes electric, water, sewer, and trash. Outside is a fenced private patio and courtyard area, perfect for relaxing. So much to offer in this adorable home.

20. 2017-05-03
    soldstatus

    Show marketing remark (973 chars)

    Looking for an affordable house or investment property in the Alma Schrader school district? This 4 bedroom, 2 full bath, move-in ready condo, would make the perfect home for a growing family, or someone that demands a little more space at an affordable price. With over 1200 sq. ft. of finished living space, the condo is in great condition and move-in ready. New paint throughout, new laminate flooring added to the main level bedroom, living room, and dining room, and new carpet in two of the upstairs bedrooms. The home features open dining/living room area, and offers plenty of storage space throughout the home. There is a main level laundry located off the kitchen. The home is all electric, with central heat and air, and all kitchen appliances are included. Low average monthly utilities which includes electric, water, sewer, and trash. Outside is a fenced private patio and courtyard area, perfect for relaxing. So much to offer in this adorable home.

21. 2017-03-17
    listed $78,500 973-char remark

    Show marketing remark (973 chars)

    Looking for an affordable house or investment property in the Alma Schrader school district? This 4 bedroom, 2 full bath, move-in ready condo, would make the perfect home for a growing family, or someone that demands a little more space at an affordable price. With over 1200 sq. ft. of finished living space, the condo is in great condition and move-in ready. New paint throughout, new laminate flooring added to the main level bedroom, living room, and dining room, and new carpet in two of the upstairs bedrooms. The home features open dining/living room area, and offers plenty of storage space throughout the home. There is a main level laundry located off the kitchen. The home is all electric, with central heat and air, and all kitchen appliances are included. Low average monthly utilities which includes electric, water, sewer, and trash. Outside is a fenced private patio and courtyard area, perfect for relaxing. So much to offer in this adorable home.

22. 2016-01-04
    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: $850 · $71/mo
• Projected year-2 tax: $1,085 · $90/mo
• Expected delta: +$235/yr (+$20/mo · 27.7%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,782
• − Mortgage interest: −$6,268
• − Property taxes: −$850
• − Insurance: −$1,357
• − Repairs & maintenance: −$1,183
• − Management: −$1,183
• − HOA: −$1,800
• − Depreciation: −$3,255
• Taxable loss: −$1,114
• Est. tax savings @ 24.0%: +$267
• After-tax cash flow: $896/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: Cape Girardeau 63
• NCES district ID: 2907120
• Math proficiency: 33% ▼ -6.00%
• Reading proficiency: 42% ▼ -7.00%
• Median HH income: $40,543
• Composite: 31.49/100
• National rank: #5974
• State rank: #188 of 324 in MO

Livability — Cape Girardeau

• Score: 64/100
• State rank: #297
• US rank: #13759

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cape Girardeau, MO
• County: Cape Girardeau County · 75,175 people
• City population: 47,546
• Metro: Cape Girardeau, MO-IL
• Population (ZIP): 39,345
• Household income: $66,654
• Rent vs Own: 39.0% rent · 61.0% own
• Severe rent burden: 1300.0

Population outlook (Cape Girardeau County) Hauer SSP2

• Today (2025): 84,807 people
• By 2030: 88,016 · +3.8%
• By 2040: 93,914 · +10.7%
• By 2050: 99,541 · +17.4%
• By 2075: 114,527 · +35.0%
• By 2100: 121,718 · +43.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 12% Two or more races 4% Hispanic / Latino 3% Asian 3%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 3% · China, Canada
• Languages at home: 95% English-only · Spanish 1% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Cape Girardeau

• 2024 margin: Solid R (+46.5) · D 26.2% · R 72.7% · Other 1.1%
• 2008→2024 swing: -12.9pp toward R · 2008: -33.6pp · 2024: -46.5pp
• All cycles: 2024: R+46.5 2020: R+45.0 2016: R+50.1 2012: R+43.8 2008: R+33.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -177.04%
• Current HPI: 156.0433
• Rent YoY: ▲ 3.27%
• Metro: Cape Girardeau, MO-IL
• 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

+42.5% since first listed

5 events — show timeline

• 2026-04-28 Listed $111,900 MARIS as Distributed by MLS Grid
• 2017-05-03 Sold (Public Records) — Public Records
• 2017-05-03 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2017-03-17 Listed $78,500 MARIS as Distributed by MLS Grid
• 2016-01-04 Sold (Public Records) — Public Records

Property tax history

+1.6%/yr

Latest (2025): $850 · +5.5% YoY. Source: county tax records.