1405-1407 Joann St · Columbia, MO 65203

$290,000

5 bd · 3.0 ba · 1,904 sqft · MultiFamily public records · 12 Days on market

Built 1977 9,450 sqft 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 +21.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +4.7/10.0
• Livability +4.2/5.0
• Rent growth +4.0/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

1405 $450MO 7/31/00 1407 $450MO 7/31/00 1407 PREVIOUSLY OWNER OCCUPIED NICE 7/2/2X2 7/2/2X2

Key facts

• Decks
• Fenced back yards
• Investment duplex

Tags

• INVESTMENT DUPLEX
• HIGHLY DESIRABLE LOCATION
• SPACIOUS UNITS
• FINISHED BASEMENTS
• FENCED BACK YARDS
• DECKS

Property features AI

Finance

• Financial info: Annual tax amount listed

Exterior

• Home design: Duplex (residential income property)
• Exterior features: Lot dimensions approximately 67.5 x 140; Zoned R-2 (Two-family dwelling)

Interior

• Heating & cooling: Central Air; Forced air heating; Electric heating
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $290k.

Deal economics

• At list price, monthly cash flow is $439 ($5k/yr) — positive. Per door: $220/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $281k (3.2% below list).
• Recommended offer: $281k (3.2% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 2.9% in Columbia — 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 83/100 on livability (#9 in MO, #862 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime D+.
• Columbia 93 (urban): math 30% / reading 43% proficiency, ranked #194 of 324 in MO (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ann Hawkins Gentry Middle (math 40% / reading 47%, grade D, #127 of 391 statewide, top 34%, 719 students, 31% FRL); Rock Bridge Sr. High (math 39% / reading 68%, grade C-, #83 of 521 statewide, top 16%, 2,032 students, 18% FRL).
• Zoned-school proficiency averages 48% at this address vs 36% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Columbia 93 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+6.1%/yr); 459 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,303 units permitted in Boone County in 2024 (549 in 5+ unit buildings).
• This rent runs 42% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Boone County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $81k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 27y 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.

Recommended offer $280,700 (3.2% 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. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. Crime grade is D 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: 0.97% ✗
• Cap rate: 8.11%
• Cash-on-cash: 6.49%
• DSCR: 1.29
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.09% rent growth · sell at horizon

5-year hold

• IRR: -3.2%
• Equity multiple: 0.88×
• Total profit: $-10,116
• Equity at exit: $43,240

10-year hold

• IRR: 9.4%
• Equity multiple: 1.81×
• Total profit: $66,163
• Equity at exit: $25,074

Cash invested: $81,200 (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 65203

• Rents YoY: 6.1%
• Active inventory: 459
• Price-to-rent: 17.2×

Monthly cashflow live

• Estimated rent: $2,807 high
• Mortgage (P&I): −$1,521
• Tax from tax record: −$137 /mo · $1,640/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$589
• Net cashflow: $439

Break-even live

Break-even rent $2,251

Max offer price $290,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,808
Total (2 units)			$2,807

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1810 Highridge Dr Columbia, MO	4.0	3.0	1636	$2,200	$1.34	21d	1	0.13mi
1207 White Oak Ln Columbia, MO	5.0	2.0	1920	$1,895	$0.99	21d	1	0.47mi
3104 Oak Lawn Dr Columbia, MO	4.0	3.5	2476	$3,500	$1.41	44d	1	1.36mi
3006 Lynnwood Dr Columbia, MO	5.0	3.0	2250	$2,400	$1.07	21d	1	1.41mi
1011 W Ash St Columbia, MO	4.0	2.0	1456	$1,550	$1.06	44d	1	1.49mi
1007 W Ash St Columbia, MO	4.0	2.0	1456	$1,550	$1.06	44d	1	1.49mi

Listing history 11 events

1. 2026-06-17
   statusdays on market $290,000 Pending 12 DOM
2. 2026-06-16
   days on market $290,000 Active 11 DOM
3. 2026-06-15
   days on market $290,000 Active 10 DOM
4. 2026-06-14
   days on market $290,000 Active 8 DOM
5. 2026-06-13
   days on market $290,000 Active 7 DOM
6. 2026-06-10
   days on market $290,000 Active 5 DOM
7. 2026-06-09
   days on market $290,000 Active 4 DOM
8. 2026-06-09
   remarks 699-char remark
9. 2026-06-08
   days on market $290,000 Active 3 DOM
10. 2026-06-07
    remarks 626-char remark
11. 2026-06-07
    listed $290,000 Active 2 DOM

ⓘ 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: $1,640 · $137/mo
• Projected year-2 tax: $2,813 · $234/mo
• Expected delta: +$1,173/yr (+$98/mo · 71.5%)

ⓘ 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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,684
• − Mortgage interest: −$16,245
• − Property taxes: −$1,640
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,695
• − Management: −$2,695
• − Depreciation: −$8,436
• Taxable income: $524
• Est. tax owed @ 24.0%: −$126
• After-tax cash flow: $5,145/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: Columbia 93
• NCES district ID: 2901000
• Math proficiency: 30% ▼ -12.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $46,547
• Composite: 31.21/100
• National rank: #6036
• State rank: #194 of 324 in MO

Livability — Columbia

• Score: 83/100
• State rank: #9
• US rank: #862

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbia, MO
• County: Boone County · 158,877 people
• City population: 158,877
• Metro: Columbia, MO
• Population (ZIP): 61,539
• Household income: $79,960
• Rent vs Own: 37.9% rent · 62.1% own
• Severe rent burden: 1991.0

Population outlook (Boone County) Hauer SSP2

• Today (2025): 202,891 people
• By 2030: 217,799 · +7.3%
• By 2040: 246,789 · +21.6%
• By 2050: 276,116 · +36.1%
• By 2075: 348,426 · +71.7%
• By 2100: 400,856 · +97.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 9% Asian 6% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Italian 3% Slovak 2% Romanian 2%
• Foreign-born: 7% · China, South Korea, Canada
• Languages at home: 91% English-only · Chinese 2% Spanish 2% Korean 1%

Political lean MEDSL · Boone

• 2024 margin: Lean D (+9.8) · D 53.9% · R 44.1% · Other 2.1%
• 2008→2024 swing: -2.2pp toward R · 2008: 12.0pp · 2024: 9.8pp
• All cycles: 2024: D+9.8 2020: D+12.5 2016: D+5.9 2012: D+3.1 2008: D+12.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -274.18%
• Current HPI: 194.3615
• Rent YoY: ▲ 6.09%
• Metro: Columbia, MO
• 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

+202.1% since first listed

5 events — show timeline

• 2026-06-05 Listed $290,000 CBORMLS
• 2025-01-30 Rental Removed $950 CBORMLS
• 2025-01-29 Listed for Rent $950 CBORMLS
• 1999-10-15 Sold (MLS) — CBORMLS
• 1999-09-08 Listed $96,000 CBORMLS

Property tax history

+2.7%/yr

Latest (2025): $1,640 · +6.8% YoY. Source: county tax records.