2009 Steven Dr · Cape Girardeau, MO 63701

$225,000

3 bd · 1.5 ba · 1,682 sqft · SingleFamily public records · 107 Days on market

Built 1972 0.33 ac lot $134/sqft · 15% below area Est $254k · 11% under

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Why this score? — see what drove the D 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).

• ARV discount +12.6/15.0
• Cash flow +10.9/30.0
• Rent growth +3.3/5.0
• DSCR +3.2/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don’t miss your opportunity to own this adorable, well-maintained home in a desirable neighborhood! This home features a large living room, a recently remodeled kitchen, and three bedrooms. If you’re looking to invest, this property is perfect as a short-term rental and is booked into July through Airbnb. Income reports are available upon request.

Key facts

• Large living room
• 0.33 acre lot
• 2 garage spots

Tags

• RECENTLY REMODELED KITCHEN
• LARGE LIVING ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-99 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $208k (7.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (29.0% below list).
• Recommended offer: $160k (29.0% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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: schools C-, employment D+, crime 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.
• Market conditions: Rents rising (+3.3%/yr); 326 active listings in the ZIP; 1 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 $2k of loan paydown is wiped out by about $7k 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 107 days — a 9% lower offer ($205k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,791 (29.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
8. 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.
9. 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.
10. 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: 0.71% ✗
• Cap rate: 5.77%
• Cash-on-cash: -1.88%
• DSCR: 0.92
• GRM: 11.7

CMA / ARV

• ARV (median comp): $253,706
• List price: $225,000
• Delta: -11.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2061 Steven Dr	0.22mi	3/2.5	1,772 (+5%)	0mo	$262,500	$148	76
1623 Lexington Ave	0.17mi	3/2.0	1,590 (-6%)	6mo	$279,900	$176	76
1925 Randol Dr	0.32mi	3/2.0	1,550 (-8%)	0mo	$355,000	$229	70
1910 Sherwood Dr	0.27mi	4/3.0 (+1)	1,746 (+4%)	8mo	$207,000	$119	64
1920 Carolina Lane Ln	0.53mi	3/2.0	1,789 (+6%)	9mo	$265,000	$148	55
2018 Sara Dr	0.67mi	3/2.5	1,720 (+2%)	10mo	$250,000	$145	53
2525 Albert Rasche Dr	0.64mi	3/1.5	1,846 (+10%)	2mo	$265,000	$144	52
2437 Albert Rasche Dr	0.65mi	3/2.0	1,774 (+6%)	9mo	$209,900	$118	51
2642 Liberty Ct	0.74mi	3/2.0	1,744 (+4%)	9mo	$389,000	$223	49
1667 Westwood Dr	0.66mi	3/2.0	1,829 (+9%)	9mo	$189,900	$104	45
1413 Parkmor Dr	0.54mi	4/2.5 (+1)	1,868 (+11%)	8mo	$239,900	$128	41
1905 Wheelwright Dr	0.71mi	3/2.0	1,861 (+11%)	9mo	$429,900	$231	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -19.2%
• Equity multiple: 0.33×
• Total profit: $-42,404
• Equity at exit: $33,548

10-year hold

• IRR: -11.5%
• Equity multiple: 0.31×
• Total profit: $-43,608
• Equity at exit: $19,454

Cash invested: $63,000 (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 63701

• Rents YoY: 3.3%
• Active inventory: 326
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,598 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$87 /mo · $1,048/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $-99

Break-even live

Break-even rent $1,723

Max offer price $207,568

Occupancy floor —

Sensitivity live

Price	-10% $29	-5% $-35	+0% $-99	+5% $-162	+10% $-226
Rent	-10% $-225	-5% $-162	+0% $-99	+5% $-36	+10% $28
Rate	-1.0pp $15	-0.5pp $-41	base $-99	+0.5pp $-157	+1.0pp $-216

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2581 Fairlane Dr Cape Girardeau, MO	4.0	2.0	2223	$2,250	$1.01	44d	1	1.14mi

Listing history 20 events

1. 2026-06-19
   days on market $225,000 Active 107 DOM
2. 2026-06-18
   days on market $225,000 Active 106 DOM
3. 2026-06-17
   days on market $225,000 Active 105 DOM
4. 2026-06-16
   days on market $225,000 Active 104 DOM
5. 2026-06-15
   days on market $225,000 Active 103 DOM
6. 2026-06-14
   days on market $225,000 Active 101 DOM
7. 2026-06-13
   days on market $225,000 Active 100 DOM
8. 2026-06-10
   days on market $225,000 Active 98 DOM
9. 2026-06-09
   days on market $225,000 Active 97 DOM
10. 2026-06-08
    days on market $225,000 Active 96 DOM
11. 2026-06-07
    days on market $225,000 Active 95 DOM
12. 2026-06-05
    days on market $225,000 Active 92 DOM
13. 2026-06-03
    days on market $225,000 Active 91 DOM
14. 2026-06-02
    days on market $225,000 Active 90 DOM
15. 2026-06-01
    days on market $225,000 Active 89 DOM
16. 2026-05-31
    days on market $225,000 Active 88 DOM
17. 2026-05-30
    days on market $225,000 Active 87 DOM
18. 2026-03-04
    listed $225,000 Active 361-char remark

    Show marketing remark (361 chars)

    Don’t miss your opportunity to own this adorable, well-maintained home in a desirable neighborhood! This home features a large living room, a recently remodeled kitchen, and three bedrooms. If you’re looking to invest, this property is perfect as a short-term rental and is booked into July through Airbnb. Income reports are available upon request.

19. 2012-12-04
    soldstatus
20. 2005-04-28
    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: $1,048 · $87/mo
• Projected year-2 tax: $2,182 · $182/mo
• Expected delta: +$1,134/yr (+$95/mo · 108.2%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,175
• − Mortgage interest: −$12,603
• − Property taxes: −$1,048
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,534
• − Management: −$1,534
• − Depreciation: −$6,545
• Taxable loss: −$5,215
• Est. tax savings @ 24.0%: +$1,252
• After-tax cash flow: $68/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

3 events — show timeline

• 2026-03-04 Listed $225,000 MARIS as Distributed by MLS Grid
• 2012-12-04 Sold (Public Records) — Public Records
• 2005-04-28 Sold (Public Records) — Public Records

Property tax history

+1.2%/yr

Latest (2025): $1,048 · +5.4% YoY. Source: county tax records.