303 E Liberty Ln Unit A&B · Ashland, MO 65010

$370,000

None bd · None ba · — sqft · Condo · 62 Days on market

Built 1991 Good condition

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +5.0/30.0
• Schools +4.0/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• 1% rule +0.8/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor's Dream! This passive income-producing property features spacious units, each offering 3 bedrooms and 2.5 bathrooms. Both units have been thoughtfully updated in 2023 and 2024, providing modern finishes and turnkey appeal. Located in a desirable area with strong rental demand, this is a fantastic opportunity to add a solid, income-generating asset to your portfolio.

Key facts

• 0.24 acre lot
• Built 1991
• Listed 62 days

What this means for you Summary

Snapshot

• This is a condo listed at $370k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-870 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $244k (34.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $214k (42.3% below list).
• Recommended offer: $214k (42.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#155 in MO) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Southern Boone County R-I (rural): math 42% / reading 48% proficiency, ranked #66 of 324 in MO (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 133 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 1,303 units permitted in Boone County in 2024 (549 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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 62 days — a 6% lower offer ($348k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 10y 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 $213,585 (42.3% 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 62 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
3. 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?
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. 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 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: 0.58% ✗
• Cap rate: 3.47%
• Cash-on-cash: -10.07%
• DSCR: 0.55
• GRM: 14.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -34.4%
• Equity multiple: -0.11×
• Total profit: $-115,313
• Equity at exit: $55,168

10-year hold

• IRR: -44.0%
• Equity multiple: -0.66×
• Total profit: $-171,604
• Equity at exit: $31,991

Cash invested: $103,600 (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 65010

• Home prices YoY: -22.9%
• Active inventory: 133
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $2,136 medium
• Mortgage (P&I): −$1,940
• Tax est. 1.5%: −$462 /mo · $5,550/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $-870

Break-even live

Break-even rent $3,237

Max offer price $244,158

Occupancy floor —

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: $92,500
• Closing costs: $11,100
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
511 Turner Ave Ashland, MO	3.0	1.5	1285	$1,900	$1.48	13d	1	0.66mi
15245 Regiment Dr Ashland, MO	3.0	2.0	1503	$2,200	$1.46	13d	1	0.79mi
4680 Treaty Dr Ashland, MO	3.0	2.0	1650	$2,200	$1.33	13d	1	0.82mi
15285 General Dr Ashland, MO	3.0	2.0	—	$2,300	—	13d	1	0.82mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-19
   days on market $370,000 Active 62 DOM
2. 2026-06-18
   days on market $370,000 Active 61 DOM
3. 2026-06-17
   days on market $370,000 Active 60 DOM
4. 2026-06-16
   days on market $370,000 Active 59 DOM
5. 2026-06-15
   days on market $370,000 Active 58 DOM
6. 2026-06-14
   days on market $370,000 Active 56 DOM
7. 2026-06-13
   days on market $370,000 Active 55 DOM
8. 2026-06-10
   days on market $370,000 Active 53 DOM
9. 2026-06-09
   days on market $370,000 Active 52 DOM
10. 2026-06-08
    days on market $370,000 Active 51 DOM
11. 2026-06-07
    days on market $370,000 Active 50 DOM
12. 2026-06-02
    days on market $370,000 Active 45 DOM
13. 2026-06-01
    days on market $370,000 Active 44 DOM
14. 2026-05-31
    days on market $370,000 Active 43 DOM
15. 2026-05-30
    days on market $370,000 Active 42 DOM
16. 2026-04-18
    listed $370,000 Active 377-char remark

    Show marketing remark (377 chars)

    Investor's Dream! This passive income-producing property features spacious units, each offering 3 bedrooms and 2.5 bathrooms. Both units have been thoughtfully updated in 2023 and 2024, providing modern finishes and turnkey appeal. Located in a desirable area with strong rental demand, this is a fantastic opportunity to add a solid, income-generating asset to your portfolio.

17. 2026-04-18
    listed $370,000 Active 377-char remark

    Show marketing remark (377 chars)

    Investor's Dream! This passive income-producing property features spacious units, each offering 3 bedrooms and 2.5 bathrooms. Both units have been thoughtfully updated in 2023 and 2024, providing modern finishes and turnkey appeal. Located in a desirable area with strong rental demand, this is a fantastic opportunity to add a solid, income-generating asset to your portfolio.

18. 2026-04-14
    historical $370,000 377-char remark

    Show marketing remark (377 chars)

    Investor's Dream! This passive income-producing property features spacious units, each offering 3 bedrooms and 2.5 bathrooms. Both units have been thoughtfully updated in 2023 and 2024, providing modern finishes and turnkey appeal. Located in a desirable area with strong rental demand, this is a fantastic opportunity to add a solid, income-generating asset to your portfolio.

19. 2026-04-14
    historical $370,000 377-char remark

    Show marketing remark (377 chars)

    Investor's Dream! This passive income-producing property features spacious units, each offering 3 bedrooms and 2.5 bathrooms. Both units have been thoughtfully updated in 2023 and 2024, providing modern finishes and turnkey appeal. Located in a desirable area with strong rental demand, this is a fantastic opportunity to add a solid, income-generating asset to your portfolio.

20. 2025-11-25
    soldstatus Closed
21. 2025-10-22
    status Pending
22. 2025-06-06
    status Active
23. 2025-06-06
    status Active
24. 2025-05-25
    historical
25. 2025-05-25
    status Pending
26. 2025-05-13
    listed $350,000 Active
27. 2025-05-06
    listed $350,000 Active
28. 2016-09-17
    listed $165,775

ⓘ 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 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,630
• − Mortgage interest: −$20,726
• − Property taxes: −$5,550
• − Insurance: −$1,850
• − Repairs & maintenance: −$2,050
• − Management: −$2,050
• − Depreciation: −$10,764
• Taxable loss: −$17,360
• Est. tax savings @ 24.0%: +$4,166
• After-tax cash flow: $-6,270/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 · 12 photos

Good 75/100 Cosmetic rehab

This multi-family property offers spacious units with updated finishes and is located in a desirable area with strong rental demand. While it is in good condition, some cosmetic updates to the kitchen and bathrooms would significantly enhance its value.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate bathroom fixtures — dated and worn
• Minor kitchen flooring — slight wear

Value-add opportunities

• Both update kitchen cabinets and appliances — modernizing the kitchen would appeal to both buyers and renters
• Both update bathrooms with new fixtures and cabinetry — modernizing bathrooms would appeal to both buyers and renters
• Both replace carpet with hardwood flooring — hardwood flooring would increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
bathroom fixtures · dated and worn	Moderate	$3,000–15,000
kitchen flooring · slight wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Both update kitchen cabinets and appliances — modernizing the kitchen would appeal to both buyers and renters ↑
• Both update bathrooms with new fixtures and cabinetry — modernizing bathrooms would appeal to both buyers and renters ↑
• Both replace carpet with hardwood flooring — hardwood flooring would increase both resale and rental value ↑

ⓘ 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: Southern Boone County R-I
• NCES district ID: 2928560
• Math proficiency: 42% ▼ -3.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $64,240
• Composite: 39.98/100
• National rank: #3833
• State rank: #66 of 324 in MO

Livability — Ashland

• Score: 69/100
• State rank: #155
• US rank: #8688

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ashland, MO
• City population: 7,105
• Population (ZIP): 7,105

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 (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Other Indo-European 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: ▼ -67.49%
• Current HPI: 227.6769
• 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

+123.2% since first listed

13 events — show timeline

• 2026-04-18 Listed $370,000 JCMLS
• 2026-04-18 Listed $370,000 CBORMLS
• 2026-04-14 Coming Soon $370,000 JCMLS
• 2026-04-14 Coming Soon $370,000 CBORMLS
• 2025-11-25 Sold (MLS) — JCMLS
• 2025-10-22 Pending — JCMLS
• 2025-06-06 Relisted — JCMLS
• 2025-06-06 Relisted — CBORMLS
• 2025-05-25 Delisted — CBORMLS
• 2025-05-25 Pending — JCMLS
• 2025-05-13 Listed $350,000 CBORMLS
• 2025-05-06 Listed $350,000 JCMLS
• 2016-09-17 Listed $165,775 CBORMLS