3501 Bray Ave · Columbia, MO 65203

$299,900

3 bd · 3.0 ba · 2,544 sqft · SingleFamily public records · 52 Days on market

Built 1980 9,101 sqft lot $118/sqft · 13% below area Est $360k · 17% 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 +15.0/15.0
• Cash flow +9.1/30.0
• Livability +4.2/5.0
• Rent growth +4.0/5.0
• Schools +3.1/10.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Take a drive on this delightful street, and you'll be thrilled with mature trees and fantastic location as it's only a short drive or bicycle ride/walk to the grocery store; plus, easy access to the MKT trail (which will get you to downtown or the University!). You'll love the amount of square footage and smart floor plan with everything you need on the main level. Enjoy your lovely (hard to find) private backyard, and additional finished lower level/basement ready for entertaining. Seller is offering a one year seller paid home warranty to boot. Fourth bedroom is non-conforming.

Key facts

• New carpet
• New laminate floors
• Close to trails

Tags

• CLOSE TO SHOPPING
• CLOSE TO TRAILS
• NEW LAMINATE FLOORS
• NEW CARPET
• UPDATED MASTER BATHROOM
• UPDATED HALL BATHROOM

Property features AI

Finance

• Other: No other financial amenities provided
• Financial info: Financial details not provided
• HOA & community: No HOA information provided

Exterior

• Parking: Attached garage with 2 spaces; Paved driveway
• Security: Smoke detectors
• Utilities: Public water; Cable available
• Home design: Single-family residence; Faces south
• Construction: Basement (finished area below grade noted)
• Exterior features: Covered patio/deck; Deck; Front porch; Fenced backyard with full wood fence; Paved road access

Interior

• Kitchen: Refrigerator; Microwave; Electric range; Dishwasher; Eat-in kitchen
• Bedrooms: Bedrooms present (room level details not provided)
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Walk-in closets; Eat-in kitchen; Fireplace in family room and living room (electric and wood burning)
• Laundry & utility: Laundry/utility details not provided

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-232 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $259k (13.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (29.6% below list).
• Recommended offer: $211k (29.6% below list) — sets the bar for 1% rule.
• Cap rate 5.4% 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: Fairview Elem. (math 42% / reading 52%, grade D-, #347 of 1,115 statewide, top 35%, 468 students, 28% FRL); Smithton Middle (math 37% / reading 47%, grade D-, #149 of 391 statewide, top 41%, 521 students, 26% FRL); David H. Hickman High (math 27% / reading 55%, grade F, #236 of 521 statewide, top 45%, 2,044 students, 33% FRL).
• Market conditions: Rents rising fast (+6.1%/yr); 459 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,303 units permitted in Boone County in 2024 (549 in 5+ unit buildings).
• This rent runs 32% 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.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 29y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $211,164 (29.6% 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 52 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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 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: 0.70% ✗
• Cap rate: 5.36%
• Cash-on-cash: -3.32%
• DSCR: 0.85
• GRM: 11.8

CMA / ARV

• ARV (median comp): $359,884
• List price: $299,900
• Delta: -16.67%
• 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
3211 Kohler Cir	0.35mi	4/3.0 (+1)	2,595 (+2%)	2mo	$340,000	$131	74
2509 Ridgefield Rd	0.60mi	3/3.0	2,520 (-1%)	2mo	$410,000	$163	68
4100 Hartfield Dr	0.60mi	3/2.0	2,552 (+0%)	1mo	$549,900	$215	66
1416 Subella Dr	0.25mi	4/3.5 (+1)	2,849 (+12%)	1mo	$485,000	$170	61
508 Stalcup St	0.65mi	4/3.0 (+1)	2,556 (+0%)	10mo	$364,900	$143	56
501 Simmons Ct	0.70mi	4/3.0 (+1)	2,460 (-3%)	2mo	$350,000	$142	55
3801 W Rollins Rd	0.61mi	4/3.0 (+1)	2,341 (-8%)	1mo	$340,000	$145	53
1906 Grant Ln	0.54mi	3/3.0	2,276 (-10%)	9mo	$350,000	$154	50
1610 Canton Dr	0.45mi	4/2.5 (+1)	2,210 (-13%)	2mo	$425,000	$192	48
2113 Oak Cliff Dr	0.67mi	4/3.5 (+1)	2,417 (-5%)	7mo	$275,000	$114	47
4407 W Rockhampton Cir	0.74mi	4/3.0 (+1)	2,651 (+4%)	9mo	$310,000	$117	46
3805 Buckhaven Ct	0.60mi	4/3.0 (+1)	2,887 (+14%)	1mo	$449,900	$156	43

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 · 6.09% rent growth · sell at horizon

5-year hold

• IRR: -18.8%
• Equity multiple: 0.32×
• Total profit: $-56,709
• Equity at exit: $44,716

10-year hold

• IRR: -6.5%
• Equity multiple: 0.53×
• Total profit: $-39,153
• Equity at exit: $25,930

Cash invested: $83,972 (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: 11.8×

Monthly cashflow live

• Estimated rent: $2,112 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$203 /mo · $2,436/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $-232

Break-even live

Break-even rent $2,406

Max offer price $258,831

Occupancy floor —

Sensitivity live

Price	-10% $-63	-5% $-148	+0% $-232	+5% $-317	+10% $-402
Rent	-10% $-399	-5% $-316	+0% $-232	+5% $-149	+10% $-66
Rate	-1.0pp $-81	-0.5pp $-156	base $-232	+0.5pp $-310	+1.0pp $-389

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2612 Face Rock Ct Columbia, MO	3.0	2.5	1996	$2,700	$1.35	45d	1	0.65mi
4401 Faurot Dr Columbia, MO	4.0	3.0	1813	$1,975	$1.09	45d	1	1.04mi

Listing history 25 events

1. 2026-06-22
   days on market $299,900 Active 52 DOM
2. 2026-06-19
   days on market $299,900 Active 50 DOM
3. 2026-06-18
   days on market $299,900 Active 49 DOM
4. 2026-06-17
   pricedays on market $299,900 Active 48 DOM
5. 2026-06-16
   days on market $319,900 Active 47 DOM
6. 2026-06-15
   days on market $319,900 Active 46 DOM
7. 2026-06-14
   days on market $319,900 Active 44 DOM
8. 2026-06-13
   days on market $319,900 Active 43 DOM
9. 2026-06-10
   days on market $319,900 Active 41 DOM
10. 2026-06-09
    days on market $319,900 Active 40 DOM
11. 2026-06-08
    days on market $319,900 Active 39 DOM
12. 2026-06-07
    days on market $319,900 Active 38 DOM
13. 2026-06-05
    days on market $319,900 Active 35 DOM
14. 2026-06-03
    days on market $319,900 Active 34 DOM
15. 2026-06-02
    days on market $319,900 Active 33 DOM
16. 2026-05-31
    days on market $319,900 Active 31 DOM
17. 2026-05-30
    days on market $319,900 Active 30 DOM
18. 2026-04-30
    listed $319,900 Active 255-char remark
19. 2018-03-22
    soldstatus
20. 2018-03-21
    soldstatus 586-char remark

    Show marketing remark (586 chars)

    Take a drive on this delightful street, and you'll be thrilled with mature trees and fantastic location as it's only a short drive or bicycle ride/walk to the grocery store; plus, easy access to the MKT trail (which will get you to downtown or the University!). You'll love the amount of square footage and smart floor plan with everything you need on the main level. Enjoy your lovely (hard to find) private backyard, and additional finished lower level/basement ready for entertaining. Seller is offering a one year seller paid home warranty to boot. Fourth bedroom is non-conforming.

21. 2018-02-26
    listed $169,900 586-char remark

    Show marketing remark (586 chars)

    Take a drive on this delightful street, and you'll be thrilled with mature trees and fantastic location as it's only a short drive or bicycle ride/walk to the grocery store; plus, easy access to the MKT trail (which will get you to downtown or the University!). You'll love the amount of square footage and smart floor plan with everything you need on the main level. Enjoy your lovely (hard to find) private backyard, and additional finished lower level/basement ready for entertaining. Seller is offering a one year seller paid home warranty to boot. Fourth bedroom is non-conforming.

22. 2002-03-08
    soldstatus

    Show marketing remark (153 chars)

    GREAT NEIGHBORHOOD WALK TO FAIRVIEW BACKS TO FIELD NEWER HEAT PUMP WATER HEATER SOLD AS I MN-(1820) K, LR, DR, 3BR, 2B, 1/2B, UTR DN-OTH-1557 BSMT YR-UNK

23. 2001-11-13
    listed $118,000

    Show marketing remark (153 chars)

    GREAT NEIGHBORHOOD WALK TO FAIRVIEW BACKS TO FIELD NEWER HEAT PUMP WATER HEATER SOLD AS I MN-(1820) K, LR, DR, 3BR, 2B, 1/2B, UTR DN-OTH-1557 BSMT YR-UNK

24. 1997-05-21
    soldstatus
25. 1997-04-21
    listed $115,000

ⓘ 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: $2,436 · $203/mo
• Projected year-2 tax: $2,909 · $242/mo
• Expected delta: +$473/yr (+$39/mo · 19.4%)

ⓘ 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 1/10 Low
• 🌡 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: $25,340
• − Mortgage interest: −$16,799
• − Property taxes: −$2,436
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,027
• − Management: −$2,027
• − Depreciation: −$8,724
• Taxable loss: −$8,174
• Est. tax savings @ 24.0%: +$1,962
• After-tax cash flow: $-828/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

+160.8% since first listed

9 events — show timeline

• 2026-06-15 Price Changed $299,900 CBORMLS
• 2026-04-30 Listed $319,900 CBORMLS
• 2018-03-22 Sold (Public Records) — Public Records
• 2018-03-21 Sold (MLS) — CBORMLS
• 2018-02-26 Listed $169,900 CBORMLS
• 2002-03-08 Sold (MLS) — CBORMLS
• 2001-11-13 Listed $118,000 CBORMLS
• 1997-05-21 Sold (MLS) — CBORMLS
• 1997-04-21 Listed $115,000 CBORMLS

Property tax history

+3.1%/yr

Latest (2025): $2,436 · +11.1% YoY. Source: county tax records.