823 E Spring St · Boonville, MO 65233

$153,000

2 bd · 1.5 ba · 1,176 sqft · Other public records · 7 Days on market

Built 1875 6,560 sqft lot

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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).

• Cash flow +7.7/30.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• 1% rule +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Solid 2 bedroom 1.5 bath home with possible expansion upstairs and downstairs. Deep lot with large shed. Nice hardwood floors and cute built-in in dining room. This property may qualify for Seller Financing (Vendee). This property was built prior to 1978, Lead Based Paint Potentially Exists.

Key facts

• Covered patios
• Storage shed
• Built-in dining area

Tags

• NEW ROOF
• HARDWOOD FLOORS
• BUILT-IN DINING AREA
• COVERED PATIOS
• HUGE LOT
• STORAGE SHED

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water
• Home design: Single-family residence; Faces south
• Construction: Block foundation
• Exterior features: Covered patio/porch; Deck; Front porch; Shed

Interior

• Kitchen: Refrigerator; Microwave; Electric range
• Flooring: Wood; Laminate; Tile; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: Eat-in kitchen; Basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath other listed at $153k.

Deal economics

• At list price, monthly cash flow is $-179 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $121k (20.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $95k (37.9% below list).
• Recommended offer: $95k (37.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#410 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Boonville R-I (town): math 31% / reading 39% proficiency, ranked #215 of 324 in MO (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hannah Cole Primary (370 students, 99% FRL); Laura Speed Elliott Middle (math 32% / reading 34%, grade F, #265 of 391 statewide, top 69%, 316 students, 100% FRL); Boonville High (math 32% / reading 62%, grade D-, #155 of 521 statewide, top 32%, 569 students, 40% FRL) — zoned schools average 80% FRL vs 44% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 139 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 10 units permitted in Cooper 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.
• Cooper County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1875 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,080 (37.9% 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. Built in 1875 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.62% ✗
• Cap rate: 4.89%
• Cash-on-cash: -5.03%
• DSCR: 0.78
• GRM: 13.4

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: -24.9%
• Equity multiple: 0.15×
• Total profit: $-36,285
• Equity at exit: $22,813

10-year hold

• IRR: -20.9%
• Equity multiple: -0.09×
• Total profit: $-46,571
• Equity at exit: $13,229

Cash invested: $42,840 (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 65233

• Active inventory: 139
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $951 medium
• Mortgage (P&I): −$802
• Tax from tax record: −$64 /mo · $774/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $-179

Break-even live

Break-even rent $1,178

Max offer price $121,301

Occupancy floor —

Sensitivity live

Price	-10% $-93	-5% $-136	+0% $-179	+5% $-223	+10% $-266
Rent	-10% $-255	-5% $-217	+0% $-179	+5% $-142	+10% $-104
Rate	-1.0pp $-102	-0.5pp $-141	base $-179	+0.5pp $-219	+1.0pp $-259

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: $38,250
• Closing costs: $4,590
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
622 7th St Unit B Boonville, MO	2.0	1.0	700	$1,100	$1.57	45d	1	0.27mi
622 7th St Unit 622 7th St-C Boonville, MO	1.0	1.0	700	$900	$1.29	23d	1	0.27mi
1214 Commercial St Apt C Boonville, MO	2.0	1.0	850	$850	$1.00	23d	1	0.33mi

Listing history 9 events

1. 2026-05-18
   status Pending 298-char remark
2. 2026-05-09
   listed $153,000 Active 298-char remark
3. 2022-10-07
   soldstatus Closed 293-char remark

   Show marketing remark (293 chars)

   Solid 2 bedroom 1.5 bath home with possible expansion upstairs and downstairs. Deep lot with large shed. Nice hardwood floors and cute built-in in dining room. This property may qualify for Seller Financing (Vendee). This property was built prior to 1978, Lead Based Paint Potentially Exists.

4. 2022-08-12
   status Pending 293-char remark

   Show marketing remark (293 chars)

   Solid 2 bedroom 1.5 bath home with possible expansion upstairs and downstairs. Deep lot with large shed. Nice hardwood floors and cute built-in in dining room. This property may qualify for Seller Financing (Vendee). This property was built prior to 1978, Lead Based Paint Potentially Exists.

5. 2022-08-03
   listed $85,000 Active 293-char remark

   Show marketing remark (293 chars)

   Solid 2 bedroom 1.5 bath home with possible expansion upstairs and downstairs. Deep lot with large shed. Nice hardwood floors and cute built-in in dining room. This property may qualify for Seller Financing (Vendee). This property was built prior to 1978, Lead Based Paint Potentially Exists.

6. 2022-02-25
   soldstatus
7. 2014-09-16
   soldstatus
8. 2000-09-22
   soldstatus
9. 1991-10-21
   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: $774 · $64/mo
• Projected year-2 tax: $1,484 · $124/mo
• Expected delta: +$710/yr (+$59/mo · 91.8%)

ⓘ 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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,410
• − Mortgage interest: −$8,570
• − Property taxes: −$774
• − Insurance: −$765
• − Repairs & maintenance: −$913
• − Management: −$913
• − Depreciation: −$4,451
• Taxable loss: −$4,976
• Est. tax savings @ 24.0%: +$1,194
• After-tax cash flow: $-959/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: Boonville R-I
• NCES district ID: 2905580
• Math proficiency: 31% ▼ -7.00%
• Reading proficiency: 39% ▼ -5.00%
• Median HH income: $44,038
• Composite: 29.75/100
• National rank: #6441
• State rank: #215 of 324 in MO

Livability — Boonville

• Score: 61/100
• State rank: #410
• US rank: #17337

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boonville, MO
• Population (ZIP): 10,853

Population outlook (Cooper County) Hauer SSP2

• Today (2025): 17,611 people
• By 2030: 17,665 · +0.3%
• By 2040: 17,445 · -0.9%
• By 2050: 16,916 · -3.9%
• By 2075: 15,807 · -10.2%
• By 2100: 13,148 · -25.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 8% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Lithuanian 2% Iranian 2%
• Foreign-born: 1%
• Languages at home: 96% English-only · Spanish 1% German/W. Germanic 1% Chinese 1%

Political lean MEDSL · Cooper

• 2024 margin: Solid R (+45.8) · D 26.6% · R 72.4% · Other 1.1%
• 2008→2024 swing: -22.1pp toward R · 2008: -23.8pp · 2024: -45.8pp
• All cycles: 2024: R+45.8 2020: R+46.3 2016: R+46.3 2012: R+32.1 2008: R+23.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -214.93%
• Current HPI: 213.6529
• 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

+80.0% since first listed

11 events — show timeline

• 2026-06-12 Delisted — CBORMLS
• 2026-06-12 Sold (MLS) — CBORMLS
• 2026-05-18 Pending — CBORMLS
• 2026-05-09 Listed $153,000 CBORMLS
• 2022-10-07 Sold (MLS) — CBORMLS
• 2022-08-12 Pending — CBORMLS
• 2022-08-03 Listed $85,000 CBORMLS
• 2022-02-25 Sold (Public Records) — Public Records
• 2014-09-16 Sold (Public Records) — Public Records
• 2000-09-22 Sold (Public Records) — Public Records
• 1991-10-21 Sold (Public Records) — Public Records

Property tax history

+3.8%/yr

Latest (2025): $774 · +7.4% YoY. Source: county tax records.