2801 W Broadway · Columbia, MO 65203

$125,000

2 bd · 2.5 ba · 1,184 sqft · Condo · 2 Days on market

Built 1985 $226/mo HOA · 15% of rent

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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).

• Cash flow +16.2/30.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• DSCR +5.0/10.0
• 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

Listing remarks MLS

UNIT R6

Key facts

• Main-floor half-bath
• Spacious bedrooms
• Rental opportunity

Tags

• SPACIOUS BEDROOMS
• INDIVIDUAL FULL BATHROOMS
• MAIN-FLOOR HALF-BATH
• INVESTMENT OPPORTUNITY
• RENTAL OPPORTUNITY

Property features AI

Finance

• HOA & community: Homeowners association with $226 monthly fee

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water
• Home design: Single-family residential property; Zoned for multi-family residential (R-MF Multiple-Family Dwelling*)
• Construction: Slab foundation
• Exterior features: Paved road access; Community pool

Interior

• Flooring: Carpet; Laminate
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central air conditioning; Forced air heating (electric)
• Interior features: Carpet and laminate flooring; Three total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $66 ($793/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Cap rate 6.9% 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: Mary Paxton Keeley Elem. (math 43% / reading 48%, grade D-, #405 of 1,115 statewide, top 37%, 634 students, 35% 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) — zoned schools at 31% FRL track the district average.
• Market conditions: Rents rising fast (+6.1%/yr); 459 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $864 of loan paydown is wiped out by about $4k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 22y 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 $125,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
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 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: 1.17% ✓
• Cap rate: 6.93%
• Cash-on-cash: 2.26%
• DSCR: 1.10
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.09% rent growth · sell at horizon

5-year hold

• IRR: -8.4%
• Equity multiple: 0.68×
• Total profit: $-11,197
• Equity at exit: $18,638

10-year hold

• IRR: 5.5%
• Equity multiple: 1.48×
• Total profit: $16,827
• Equity at exit: $10,808

Cash invested: $35,000 (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: 7.1×

Monthly cashflow live

• Estimated rent: $1,463 high
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$226
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $66

Break-even live

Break-even rent $1,380

Max offer price $125,000

Occupancy floor 90%

Sensitivity live

Price	-10% $152	-5% $109	+0% $66	+5% $23	+10% $-20
Rent	-10% $-50	-5% $8	+0% $66	+5% $124	+10% $182
Rate	-1.0pp $129	-0.5pp $98	base $66	+0.5pp $34	+1.0pp $1

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4401 Faurot Dr Columbia, MO	1.0–2.0	1.0	989	$1,900	$1.92	14d	17	0.25mi
405 Brewer Dr Unit B Columbia, MO	3.0	1.5	1225	$1,450	$1.18	14d	1	0.35mi
405 Brewer Dr Unit B Columbia, MO	3.0	1.5	1225	$1,475	$1.20	44d	1	0.35mi
4006 W Worley St Columbia, MO	2.0	2.0	1270	$1,625	$1.28	22d	1	0.51mi
4331 Ludwick Blvd Unit 4331 Columbia, MO	2.0	1.5	1100	$950	$0.86	44d	1	0.87mi
1304 Essex Ct Unit A Columbia, MO	3.0	1.5	1250	$1,100	$0.88	44d	1	1.06mi
2901 W Rollins Rd Columbia, MO	2.0	1.0	854	$1,312	$1.54	14d	2	1.23mi
1720 N Chapman Ln Unit 1726 Columbia, MO	3.0	2.0	1500	$1,500	$1.00	14d	1	1.25mi
2705 W Rollins Rd Unit 4 Columbia, MO	2.0	1.0	830	$1,050	$1.27	44d	1	1.34mi
3607 Zinnia Dr Unit 1 Columbia, MO	3.0	2.5	1360	$1,300	$0.96	44d	1	1.36mi
111 N Stadium Blvd Columbia, MO	1.0–2.0	1.0	628	$875	$1.39	14d	11	1.43mi

HOA detail condo

• Monthly dues: $226 · $2,712/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-19
   days on market $125,000 Active 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $125,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $17,558
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,405
• − Management: −$1,405
• − HOA: −$2,712
• − Depreciation: −$3,636
• Taxable loss: −$1,102
• Est. tax savings @ 24.0%: +$264
• After-tax cash flow: $1,057/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

+48.8% since first listed

3 events — show timeline

• 2026-06-11 Listed $125,000 CBORMLS
• 2004-08-16 Sold (MLS) — CBORMLS
• 2004-06-01 Listed $84,000 CBORMLS