703 N Carolina St · Louisiana, MO 63353

$159,900

10 bd · 5.0 ba · 3,926 sqft · MultiFamily · 63 Days on market

Built 1860 Fair condition 9,147 sqft lot $41/sqft · 52% above area

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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
• Livability +3.6/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.3/10.0

Multi-family units

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

Listing remarks MLS

Exceptional investment opportunity in the heart of Louisiana, MO! This impressive historic three-unit income-producing property is generating immediate cash flow with two units currently occupied by solid, reliable tenants with a good rental history — putting money in your pocket from day one. A third unit is vacant and move-in ready, offering the opportunity to maximize your rental income immediately upon closing. Full financial details including income, expenses, and cap rate are strong and available upon request. What makes this property especially attractive to investors is the incredibly low expense structure. Tenants pay all utilities including heat, electric, and trash, keeping landlord overhead to an absolute minimum. Clean tenant history with no evictions and no notices to quit — this is a well-managed, stable investment. The property itself is a true standout. This beautiful historic two-story home offers 3,046 square feet — one of the largest properties in the market — with 6 bedrooms and 3 full bathrooms spread across three units. Hardwood floors run throughout, and the stunning covered front porch with classic columns and iconic stone foundation give this property the kind of curb appeal that photographs beautifully and attracts quality tenants. Each unit includes a stove and refrigerator. Ideally situated in a prime location directly across the street from three area churches, this property benefits from a peaceful, established neighborhood setting that tenants love and that supports long-term occupancy stability. Sold in its present condition. All leases, pro-rated rents, and security deposits transfer to buyer at closing. Do not disturb tenants. Showings by appointment only. Strong financials available upon request — call today!

Key facts

• 9,147 sq ft lot
• Built 1860
• Listed 62 days

What this means for you Summary

Snapshot

• This is a 2 × 5-bed/?-bath units multifamily listed at $160k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $532/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 8.4% in Louisiana — 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 71/100 on livability (#105 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools D-, amenities F, commute F.
• Louisiana R-II (town): math 31% / reading 39% proficiency, ranked #227 of 324 in MO (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 32 active listings in the ZIP; 38 units permitted in Pike County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Pike County population projected to shrink 7% 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 $45k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.72% ✓
• Cap rate: 14.27%
• Cash-on-cash: 28.50%
• DSCR: 2.27
• GRM: 4.9

CMA / ARV

• ARV (median comp): $104,844
• List price: $159,900
• Delta: 52.51%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
306 N Carolina St	0.22mi	9/6.0 (-1)	3,648 (-7%)	14mo	$54,900	$15	57

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.8%
• Equity multiple: 1.94×
• Total profit: $41,867
• Equity at exit: $23,842

10-year hold

• IRR: 30.8%
• Equity multiple: 3.77×
• Total profit: $123,846
• Equity at exit: $13,825

Cash invested: $44,772 (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 63353

• Home prices YoY: -5.0%
• Active inventory: 32
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,745 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,398/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$576
• Net cashflow: $1,064

Break-even live

Break-even rent $1,399

Max offer price $159,900

Occupancy floor 56%

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

Units	Beds	Baths	Est. rent
▸ 2× units	5	—	$2,744
Total (2 units)			$2,745

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $159,900 Active 63 DOM
2. 2026-06-17
   days on market $159,900 Active 62 DOM
3. 2026-06-16
   days on market $159,900 Active 61 DOM
4. 2026-06-15
   days on market $159,900 Active 60 DOM
5. 2026-06-13
   days on market $159,900 Active 58 DOM
6. 2026-06-12
   days on market $159,900 Active 57 DOM
7. 2026-06-09
   days on market $159,900 Active 54 DOM
8. 2026-06-08
   days on market $159,900 Active 53 DOM
9. 2026-06-07
   days on market $159,900 Active 52 DOM
10. 2026-06-07
    days on market $159,900 Active 51 DOM
11. 2026-06-04
    days on market $159,900 Active 48 DOM
12. 2026-06-02
    days on market $159,900 Active 47 DOM
13. 2026-06-01
    days on market $159,900 Active 46 DOM
14. 2026-05-31
    days on market $159,900 Active 45 DOM
15. 2026-04-17
    listed $159,900 Active 1812-char remark

    Show marketing remark (1812 chars)

    Exceptional investment opportunity in the heart of Louisiana, MO! This impressive historic three-unit income-producing property is generating immediate cash flow with two units currently occupied by solid, reliable tenants with a good rental history — putting money in your pocket from day one. A third unit is vacant and move-in ready, offering the opportunity to maximize your rental income immediately upon closing. Full financial details including income, expenses, and cap rate are strong and available upon request. What makes this property especially attractive to investors is the incredibly low expense structure. Tenants pay all utilities including heat, electric, and trash, keeping landlord overhead to an absolute minimum. Clean tenant history with no evictions and no notices to quit — this is a well-managed, stable investment. The property itself is a true standout. This beautiful historic two-story home offers 3,046 square feet — one of the largest properties in the market — with 6 bedrooms and 3 full bathrooms spread across three units. Hardwood floors run throughout, and the stunning covered front porch with classic columns and iconic stone foundation give this property the kind of curb appeal that photographs beautifully and attracts quality tenants. Each unit includes a stove and refrigerator. Ideally situated in a prime location directly across the street from three area churches, this property benefits from a peaceful, established neighborhood setting that tenants love and that supports long-term occupancy stability. Sold in its present condition. All leases, pro-rated rents, and security deposits transfer to buyer at closing. Do not disturb tenants. Showings by appointment only. Strong financials available upon request — call today!

16. 2026-04-16
    historical $159,900 1812-char remark

    Show marketing remark (1804 chars)

    Exceptional investment opportunity in the heart of Louisiana, MO! This impressive historic three-unit income-producing property is generating immediate cash flow with two units currently occupied by solid, reliable tenants with a good rental history — putting money in your pocket from day one. A third unit is vacant and move-in ready, offering the opportunity to maximize your rental income immediately upon closing. Full financial details including income, expenses, and cap rate are strong and available upon request. What makes this property especially attractive to investors is the incredibly low expense structure. Tenants pay all utilities including heat, electric, and trash, keeping landlord overhead to an absolute minimum. Clean tenant history with no evictions and no notices to quit — this is a well-managed, stable investment. The property itself is a true standout. This beautiful historic two-story home offers 3,046 square feet — one of the largest properties in the market — with 6 bedrooms and 3 full bathrooms spread across three units. Hardwood floors run throughout, and the stunning covered front porch with classic columns and iconic stone foundation give this property the kind of curb appeal that photographs beautifully and attracts quality tenants. Each unit includes a stove and refrigerator. Ideally situated in a prime location directly across the street from three area churches, this property benefits from a peaceful, established neighborhood setting that tenants love and that supports long-term occupancy stability. Sold in its present condition. All leases, pro-rated rents, and security deposits transfer to buyer at closing. Do not disturb tenants. Showings by appointment only. Strong financials available upon request — call today!

17. 2026-04-16
    listed $159,900 Active 1804-char remark

    Show marketing remark (1804 chars)

    Exceptional investment opportunity in the heart of Louisiana, MO! This impressive historic three-unit income-producing property is generating immediate cash flow with two units currently occupied by solid, reliable tenants with a good rental history — putting money in your pocket from day one. A third unit is vacant and move-in ready, offering the opportunity to maximize your rental income immediately upon closing. Full financial details including income, expenses, and cap rate are strong and available upon request. What makes this property especially attractive to investors is the incredibly low expense structure. Tenants pay all utilities including heat, electric, and trash, keeping landlord overhead to an absolute minimum. Clean tenant history with no evictions and no notices to quit — this is a well-managed, stable investment. The property itself is a true standout. This beautiful historic two-story home offers 3,046 square feet — one of the largest properties in the market — with 6 bedrooms and 3 full bathrooms spread across three units. Hardwood floors run throughout, and the stunning covered front porch with classic columns and iconic stone foundation give this property the kind of curb appeal that photographs beautifully and attracts quality tenants. Each unit includes a stove and refrigerator. Ideally situated in a prime location directly across the street from three area churches, this property benefits from a peaceful, established neighborhood setting that tenants love and that supports long-term occupancy stability. Sold in its present condition. All leases, pro-rated rents, and security deposits transfer to buyer at closing. Do not disturb tenants. Showings by appointment only. Strong financials available upon request — call today!

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $32,940
• − Mortgage interest: −$8,957
• − Property taxes: −$2,398
• − Insurance: −$800
• − Repairs & maintenance: −$2,635
• − Management: −$2,635
• − Depreciation: −$4,652
• Taxable income: $10,863
• Est. tax owed @ 24.0%: −$2,607
• After-tax cash flow: $10,155/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

Fair 45/100 Moderate rehab

This three-unit property requires moderate rehabilitation, focusing on exterior repairs and interior updates, to significantly enhance its resale and rental value.

Repairs flagged

• Major exterior siding — The exterior siding is visibly weathered and in poor condition, indicating significant structural damage.
• Minor roof — There are no visible major leaks or damage, but some minor repairs may be needed.
• Minor interior walls — There are some minor discoloration and wear, which could be addressed with painting.
• Major flooring — The hardwood flooring is worn and could benefit from refinishing or replacement.

Value-add opportunities

• Both exterior siding repair and repainting — A fresh coat of paint and repair of the siding will significantly improve the curb appeal and overall condition of the property, enhancing both resale and rental value.
• Both floor refinishing or replacement — Refinishing or replacing the worn hardwood flooring will improve the aesthetic and functionality of the interior, making the property more attractive to potential buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · The exterior siding is visibly weathered and in poor condition, indicating significant structural damage.	Major	$15,000–50,000
roof · There are no visible major leaks or damage, but some minor repairs may be needed.	Minor	$500–3,000
interior walls · There are some minor discoloration and wear, which could be addressed with painting.	Minor	$500–3,000
flooring · The hardwood flooring is worn and could benefit from refinishing or replacement.	Major	$15,000–50,000
Total estimated repair cost · 4 items		$31,000–106,000

Value-add ROI direction

• Both exterior siding repair and repainting — A fresh coat of paint and repair of the siding will significantly improve the curb appeal and overall condition of the property, enhancing both resale and rental value. ↑
• Both floor refinishing or replacement — Refinishing or replacing the worn hardwood flooring will improve the aesthetic and functionality of the interior, making the property more attractive to potential buyers and renters. ↑

ⓘ 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: Louisiana R-II
• NCES district ID: 2919260
• Math proficiency: 31% ▲ 1.00%
• Reading proficiency: 39% ▬ 0.00%
• Median HH income: $37,149
• Composite: 29.1/100
• National rank: #6595
• State rank: #227 of 324 in MO

Livability — Louisiana

• Score: 71/100
• State rank: #105
• US rank: #6899

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Louisiana, MO
• Population (ZIP): 4,935

Population outlook (Pike County) Hauer SSP2

• Today (2025): 17,895 people
• By 2030: 17,591 · -1.7%
• By 2040: 17,080 · -4.6%
• By 2050: 16,589 · -7.3%
• By 2075: 14,761 · -17.5%
• By 2100: 11,606 · -35.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 3% Black 2%
• Common ancestry: Romanian 3% Iranian 2% Lithuanian 1%
• Foreign-born: 1% · Canada, China
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Pike

• 2024 margin: Solid R (+57.9) · D 20.7% · R 78.6%
• 2008→2024 swing: -48.0pp toward R · 2008: -9.9pp · 2024: -57.9pp
• All cycles: 2024: R+57.9 2020: R+53.9 2016: R+47.0 2012: R+27.3 2008: R+9.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -9.40%
• Current HPI: 180.6084
• 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

3 events — show timeline

• 2026-04-17 Listed $159,900 MARIS as Distributed by MLS Grid
• 2026-04-16 Coming Soon $159,900 MARIS as Distributed by MLS Grid
• 2026-04-16 Listed $159,900 Heartland MLS as Distributed by MLS Grid