303 S Hanover St · Cape Girardeau, MO 63703

$114,900

3 bd · 1.0 ba · 1,788 sqft · SingleFamily public records · 144 Days on market

Built 1940 4,573 sqft lot $64/sqft · 55% above area

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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 +25.2/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home is listed $10,000 under appraisal! Home is HUGE! Large living area, large kitchen space and spacious bedrooms! This would be a great investment opportunity (as it's currently leased at $1350) OR would make an excellent home for any buyers! Recent remodel added two bedrooms upstairs and an additional bathroom- making this a 5 bedroom, 2 bathroom home! This home is listed with a package and can be purchased together or individually.

Key facts

• 4,573 sq ft lot
• Built 1940
• Listed 144 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $257 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 3.9% in Cape Girardeau — 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 64/100 on livability (#297 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, employment D+, crime F.
• Cape Girardeau 63 (urban): math 33% / reading 42% proficiency, ranked #188 of 324 in MO (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 41 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 81 units permitted in Cape Girardeau County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($39k/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 $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cape Girardeau County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 144 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 144 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F 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. 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: 1.04% ✓
• Cap rate: 8.98%
• Cash-on-cash: 9.60%
• DSCR: 1.43
• GRM: 8.0

CMA / ARV

• ARV (median comp): $74,143
• List price: $114,900
• Delta: 54.97%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
803 William St	0.24mi	3/1.0	1,680 (-6%)	6mo	$84,900	$51	74
1601 Bloomfield St	0.35mi	3/2.0	1,692 (-5%)	3mo	$99,900	$59	68
1013 William St	0.10mi	4/2.0 (+1)	1,530 (-14%)	5mo	$68,900	$45	58
1609 Themis St	0.64mi	3/2.0	1,694 (-5%)	1mo	$229,900	$136	56
1803 Montgomery St	0.64mi	2/1.0 (-1)	1,706 (-5%)	5mo	$140,000	$82	53
29 N Henderson Ave	0.39mi	3/1.5	1,576 (-12%)	9mo	$179,000	$114	53
222 Good Hope St	0.69mi	3/2.0	1,692 (-5%)	4mo	$275,000	$163	51
605 Albert St	0.72mi	2/2.0 (-1)	1,740 (-3%)	6mo	$159,000	$91	48
1716 Whitener St	0.73mi	3/2.0	1,620 (-9%)	4mo	$225,000	$139	43
1455 Whitener St	0.49mi	2/2.0 (-1)	2,026 (+13%)	6mo	$127,000	$63	41
1827 William St	0.58mi	4/1.5 (+1)	2,056 (+15%)	2mo	$174,000	$85	40
1903 Brink Ave	0.74mi	3/2.0	1,984 (+11%)	8mo	$150,000	$76	37

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: -1.9%
• Equity multiple: 0.93×
• Total profit: $-2,280
• Equity at exit: $17,132

10-year hold

• IRR: 7.8%
• Equity multiple: 1.59×
• Total profit: $18,921
• Equity at exit: $9,934

Cash invested: $32,172 (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 63703

• Home prices YoY: -29.3%
• Active inventory: 41
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,196 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$37 /mo · $442/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $257

Break-even live

Break-even rent $870

Max offer price $114,900

Occupancy floor 73%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
Cape Girardeau Cape Girardeau, MO	1.0–3.0	1.0–2.0	931	$1,000	$1.07	43d	7	0.96mi

Listing history 13 events

1. 2026-05-31
   days on market $114,900 Active 144 DOM
2. 2026-05-30
   days on market $114,900 Active 143 DOM
3. 2026-01-07
   listed $114,900 Active 445-char remark

   Show marketing remark (445 chars)

   Home is listed $10,000 under appraisal! Home is HUGE! Large living area, large kitchen space and spacious bedrooms! This would be a great investment opportunity (as it's currently leased at $1350) OR would make an excellent home for any buyers! Recent remodel added two bedrooms upstairs and an additional bathroom- making this a 5 bedroom, 2 bathroom home! This home is listed with a package and can be purchased together or individually.

4. 2026-01-07
   historical $114,900 445-char remark

   Show marketing remark (445 chars)

   Home is listed $10,000 under appraisal! Home is HUGE! Large living area, large kitchen space and spacious bedrooms! This would be a great investment opportunity (as it's currently leased at $1350) OR would make an excellent home for any buyers! Recent remodel added two bedrooms upstairs and an additional bathroom- making this a 5 bedroom, 2 bathroom home! This home is listed with a package and can be purchased together or individually.

5. 2024-05-02
   historical
6. 2023-09-27
   listed $135,000 Active
7. 2022-12-28
   soldstatus
8. 2022-12-22
   soldstatus Closed
9. 2022-11-14
   status Pending
10. 2022-09-15
    listed $59,900 Active
11. 2019-07-31
    listed $38,000
12. 2019-07-29
    soldstatus Closed
13. 2005-03-17
    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: $442 · $37/mo
• Projected year-2 tax: $1,115 · $93/mo
• Expected delta: +$672/yr (+$56/mo · 151.9%)

ⓘ 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 5/10 Major 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,348
• − Mortgage interest: −$6,436
• − Property taxes: −$442
• − Insurance: −$574
• − Repairs & maintenance: −$1,148
• − Management: −$1,148
• − Depreciation: −$3,343
• Taxable income: $1,257
• Est. tax owed @ 24.0%: −$302
• After-tax cash flow: $2,786/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: Cape Girardeau 63
• NCES district ID: 2907120
• Math proficiency: 33% ▼ -6.00%
• Reading proficiency: 42% ▼ -7.00%
• Median HH income: $40,543
• Composite: 31.49/100
• National rank: #5974
• State rank: #188 of 324 in MO

Livability — Cape Girardeau

• Score: 64/100
• State rank: #297
• US rank: #13759

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cape Girardeau, MO
• County: Cape Girardeau County · 75,175 people
• City population: 47,546
• Metro: Cape Girardeau, MO-IL
• Population (ZIP): 8,201
• Household income: $38,695
• Rent vs Own: 57.4% rent · 42.6% own
• Severe rent burden: 617.0

Population outlook (Cape Girardeau County) Hauer SSP2

• Today (2025): 84,807 people
• By 2030: 88,016 · +3.8%
• By 2040: 93,914 · +10.7%
• By 2050: 99,541 · +17.4%
• By 2075: 114,527 · +35.0%
• By 2100: 121,718 · +43.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 19% Two or more races 5% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 3% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Cape Girardeau

• 2024 margin: Solid R (+46.5) · D 26.2% · R 72.7% · Other 1.1%
• 2008→2024 swing: -12.9pp toward R · 2008: -33.6pp · 2024: -46.5pp
• All cycles: 2024: R+46.5 2020: R+45.0 2016: R+50.1 2012: R+43.8 2008: R+33.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.10%
• Current HPI: 152.013
• Rent YoY: —
• Metro: Cape Girardeau, MO-IL
• 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

+202.4% since first listed

11 events — show timeline

• 2026-01-07 Listed $114,900 MARIS as Distributed by MLS Grid
• 2026-01-07 Coming Soon $114,900 MARIS as Distributed by MLS Grid
• 2024-05-02 Delisted — MARIS as Distributed by MLS Grid
• 2023-09-27 Listed $135,000 MARIS as Distributed by MLS Grid
• 2022-12-28 Sold (Public Records) — Public Records
• 2022-12-22 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2022-11-14 Pending — MARIS as Distributed by MLS Grid
• 2022-09-15 Listed $59,900 MARIS as Distributed by MLS Grid
• 2019-07-31 Listed $38,000 MARIS as Distributed by MLS Grid
• 2019-07-29 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2005-03-17 Sold (Public Records) — Public Records

Property tax history

+1.2%/yr

Latest (2025): $442 · +5.4% YoY. Source: county tax records.