2309 Ballenger Ln Unit A & B · Columbia, MO 65202

$269,000

4 bd · 2.0 ba · 1,770 sqft · MultiFamily public records · 4 Days on market

Built 2004 0.41 ac 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 +20.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +4.6/10.0
• 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

''Property is being sold As-Is'' The sale of the property is contingent upon probate court approval. ''Buyer to verify all data. ''

Key facts

• Recently remodeled
• Flexible layout
• Single level living

Tags

• INCOME PRODUCING DUPLEX
• FLEXIBLE LAYOUT
• SINGLE LEVEL LIVING
• ATTACHED GARAGES
• SOARING CATHEDRAL CEILINGS
• RECENTLY REMODELED

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Natural gas available
• Home design: Duplex (residential income); Zoned R-2 for two-family dwelling
• Construction: Slab foundation
• Exterior features: Natural gas available

Interior

• Kitchen: Disposal; Microwave; Refrigerator; Dishwasher
• Heating & cooling: Central air (electric); Forced air heating
• Interior features: Disposal; Microwave; Refrigerator; Dishwasher

What this means for you Summary

Snapshot

• This is a 1×2bd/1ba + 1×3bd/1ba units multifamily listed at $269k.

Deal economics

• At list price, monthly cash flow is $346 ($4k/yr) — positive. Per door: $173/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 $258k (4.1% below list).
• Recommended offer: $258k (4.1% below list) — sets the bar for 1% rule.
• Cap rate 7.8% 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: Oakland Middle School (math 17% / reading 25%, grade F, #342 of 391 statewide, top 88%, 544 students, 59% FRL); Muriel W. Battle High School (math 7% / reading 47%, grade F, #420 of 521 statewide, top 82%, 1,581 students, 48% FRL) — zoned schools average 54% FRL vs 35% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 36% district-wide (-12 pts) — the specific schools serving this property underperform the Columbia 93 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+6.0%/yr); 351 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 68% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,303 units permitted in Boone County in 2024 (549 in 5+ unit buildings).
• This rent runs 43% of the median local income ($72k/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 $8k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $257,900 (4.1% 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. 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. 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 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: 0.96% ✗
• Cap rate: 7.84%
• Cash-on-cash: 5.52%
• DSCR: 1.25
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.96% rent growth · sell at horizon

5-year hold

• IRR: -4.7%
• Equity multiple: 0.82×
• Total profit: $-13,678
• Equity at exit: $40,109

10-year hold

• IRR: 7.9%
• Equity multiple: 1.67×
• Total profit: $50,730
• Equity at exit: $23,258

Cash invested: $75,320 (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 65202

• Rents YoY: 6.0%
• Active inventory: 351
• Price-to-rent: 18.3×

Monthly cashflow live

• Estimated rent: $2,579 high
• Mortgage (P&I): −$1,411
• Tax from tax record: −$168 /mo · $2,018/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$542
• Net cashflow: $346

Break-even live

Break-even rent $2,140

Max offer price $269,000

Occupancy floor 82%

Sensitivity live

Price	-10% $499	-5% $423	+0% $346	+5% $270	+10% $194
Rent	-10% $143	-5% $245	+0% $346	+5% $448	+10% $550
Rate	-1.0pp $482	-0.5pp $415	base $346	+0.5pp $277	+1.0pp $206

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,228
1× unit	3	1	$1,351
Total (2 units)			$2,579

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4618 Dehaven Dr Columbia, MO	4.0	3.0	1348	$1,575	$1.17	44d	1	0.11mi
4614 Dehaven Dr Columbia, MO	4.0	3.0	1348	$1,575	$1.17	44d	1	0.12mi
4612 Dehaven Dr Columbia, MO	4.0	3.0	1348	$1,575	$1.17	22d	1	0.13mi
2119 Ballenger Ln Columbia, MO	4.0	3.0	1402	$1,575	$1.12	44d	1	0.17mi
2117 Ballenger Ln Columbia, MO	4.0	3.0	1402	$1,575	$1.12	44d	1	0.17mi
5205 Gasconade Dr Columbia, MO	3.0	2.0	1400	$1,450	$1.04	44d	1	0.43mi
5318 Godas Cir Columbia, MO	5.0	2.0	1728	$1,875	$1.09	44d	1	0.71mi
5305 E Trikalla Dr Columbia, MO	4.0	2.0	1528	$1,525	$1.00	14d	1	0.77mi
5305 E Trikalla Dr Columbia, MO	4.0	2.0	1528	$1,525	$1.00	44d	1	0.77mi
2504 Feldspar Ct Columbia, MO	3.0	2.0	1683	$2,000	$1.19	22d	1	0.77mi
5338-5340 E Trikalla Dr Columbia, MO	4.0	2.0	1528	$1,495	$0.98	14d	1	0.84mi
1325 Godas Dr Columbia, MO	4.0	3.0	1458	$1,550	$1.06	44d	1	0.86mi
1323 Godas Cir Columbia, MO	4.0	3.0	1458	$1,550	$1.06	44d	1	0.86mi
1326 N Frideriki Dr Columbia, MO	4.0	2.0	1529	$1,525	$1.00	22d	1	0.88mi
1328 N Frideriki Dr Columbia, MO	4.0	2.0	1529	$1,475	$0.96	44d	1	0.88mi
1309 Godas Cir Unit 1309 Columbia, MO	4.0	2.0	1660	$1,575	$0.95	44d	1	0.90mi
2301 Bitternut Dr Columbia, MO	3.0	2.0	1495	$1,850	$1.24	14d	1	0.92mi
1306 Godas Dr Columbia, MO	3.0	2.0	1550	$1,550	$1.00	44d	1	0.93mi
5909 Kelsey Dr Columbia, MO	3.0	2.0	1372	$1,800	$1.31	44d	1	1.01mi
4901 Kirk Hill Rd Unit 4903 Columbia, MO	4.0	2.0	1422	$1,425	$1.00	14d	1	1.10mi
4901 Kirk Hill Rd Unit 4901 Columbia, MO	4.0	2.0	1422	$1,350	$0.95	44d	1	1.10mi
1305 N Golf Blvd Unit B Columbia, MO	4.0	1.5	1492	$1,325	$0.89	44d	1	1.49mi

Listing history 4 events

1. 2026-06-02
   days on market $269,000 Active 4 DOM
2. 2026-05-31
   days on market $269,000 Active 2 DOM
3. 2026-05-30
   remarks 429-char remark
4. 2026-05-30
   listed $269,000 Active 1 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: $2,018 · $168/mo
• Projected year-2 tax: $2,609 · $217/mo
• Expected delta: +$591/yr (+$49/mo · 29.3%)

ⓘ 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 ≥106°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: $30,948
• − Mortgage interest: −$15,068
• − Property taxes: −$2,018
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,476
• − Management: −$2,476
• − Depreciation: −$7,825
• Taxable loss: −$260
• Est. tax savings @ 24.0%: +$62
• After-tax cash flow: $4,220/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): 47,327
• Household income: $72,289
• Rent vs Own: 36.8% rent · 63.2% own
• Severe rent burden: 1326.0

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 (68%)
• Race & ethnicity: White 68% Black 16% Two or more races 8% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 2% Italian 2% Slovak 2%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 3% Other Asian/Pacific 1% French/Haitian/Cajun 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: ▼ -171.32%
• Current HPI: 205.5154
• Rent YoY: ▲ 5.96%
• 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

3 events — show timeline

• 2026-05-29 Listed $269,000 CBORMLS
• 2022-05-12 Price Changed $875 RENT.
• 2021-07-26 Sold (MLS) — CBORMLS

Property tax history

+2.7%/yr

Latest (2025): $2,018 · +6.7% YoY. Source: county tax records.