405 Alexander Ave · Columbia, MO 65203

$200,000

2 bd · 1.0 ba · 784 sqft · SingleFamily public records · 63 Days on market

Built 1920 7,950 sqft lot Est $172k · 16% over

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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 +9.3/30.0
• Livability +4.2/5.0
• Rent growth +4.0/5.0
• Schools +3.1/10.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• ARV discount +0.1/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

COMPLETELY UPDATED ALL APPLIANCES STAY INCLUDING WASHER DRYER REFRIGERATOR DOLL HOUSE 100% FINANCING AVAIL CONTING UPON REPLACEMENT PROPERTY NEGO

Key facts

• Huge backyard
• New cabinets
• Updated flooring

Tags

• MOVE IN READY
• OPEN CONCEPT LIVING ROOM
• BRIGHT EAT IN KITCHEN
• NEW CABINETS
• UPDATED FLOORING
• HUGE BACKYARD

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water
• Home design: Single-family residence; Residential property; Zoned R-2 (two-family dwelling)
• Construction: Block foundation
• Exterior features: Deck; Front porch; Partial chain link fencing in back yard; Gravel road access

Interior

• Kitchen: Refrigerator; Microwave; Electric range; Dishwasher
• Bedrooms: 1 room total
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; Crawl space basement
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-147 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (13.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (34.4% below list).
• Recommended offer: $131k (34.4% below list) — sets the bar for 1% rule.
• Cap rate 5.4% 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: West Middle School (math 22% / reading 36%, grade F, #300 of 391 statewide, top 77%, 504 students, 58% FRL); David H. Hickman High (math 27% / reading 55%, grade F, #236 of 521 statewide, top 45%, 2,044 students, 33% FRL).
• Market conditions: Rents rising fast (+6.1%/yr); 459 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 $1k of loan paydown is wiped out by about $6k 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 63 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 30y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,117 (34.4% 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 63 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.66% ✗
• Cap rate: 5.41%
• Cash-on-cash: -3.16%
• DSCR: 0.86
• GRM: 12.7

CMA / ARV

• ARV (on-the-fly): $171,696
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
800 Ridgeway Ave	0.40mi	2/1.0	813 (+4%)	1mo	$178,000	$219	74
719 Mikel St	0.48mi	2/1.0	764 (-3%)	0mo	$155,000	$203	73
500 W Sexton Rd	0.34mi	2/1.0	768 (-2%)	9mo	$154,900	$202	73
605 Donnelly Ave	0.32mi	2/1.0	840 (+7%)	1mo	$215,000	$256	72
505 W Worley St	0.17mi	2/1.0	840 (+7%)	10mo	$175,000	$208	71
208 N Garth Ave	0.32mi	2/1.0	836 (+7%)	4mo	$175,000	$209	71
708 Donnelly Ave	0.36mi	2/1.0	840 (+7%)	1mo	$232,000	$276	70
607 Ridgeway Ave	0.33mi	2/1.0	728 (-7%)	6mo	$175,000	$240	67
107 E Worley St	0.45mi	2/1.0	840 (+7%)	1mo	$145,000	$173	66
807 Hope Pl	0.33mi	2/1.0	868 (+11%)	2mo	$189,000	$218	65
605 Jackson St	0.55mi	3/1.0 (+1)	800 (+2%)	6mo	$180,000	$225	61
704 Hardin St	0.50mi	2/1.0	840 (+7%)	7mo	$239,000	$285	59

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 · 6.09% rent growth · sell at horizon

5-year hold

• IRR: -18.8%
• Equity multiple: 0.33×
• Total profit: $-37,686
• Equity at exit: $29,821

10-year hold

• IRR: -6.8%
• Equity multiple: 0.52×
• Total profit: $-26,933
• Equity at exit: $17,292

Cash invested: $56,000 (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: 12.7×

Monthly cashflow live

• Estimated rent: $1,311 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$51 /mo · $611/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $-147

Break-even live

Break-even rent $1,498

Max offer price $173,989

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
309 Alexander Ave Columbia, MO	2.0	1.0	728	$1,200	$1.65	13d	1	0.05mi
607 Ridgeway Ave Columbia, MO	2.0	1.0	728	$1,300	$1.79	43d	1	0.32mi
812 Again St Columbia, MO	2.0	1.0	780	$1,300	$1.67	44d	1	0.35mi
113 Crestmere Ave Unit 201 Columbia, MO	2.0	1.0	1022	$1,750	$1.71	43d	1	0.49mi
5 S Greenwood Ave Columbia, MO	2.0	1.0	1104	$1,600	$1.45	21d	1	0.54mi
105 Clinton Dr Columbia, MO	2.0	1.0	830	$1,300	$1.57	21d	1	0.58mi
1002 W Broadway Columbia, MO	2.0	1.0	788	$1,425	$1.81	43d	1	0.61mi
1003 Hardin St Columbia, MO	2.0	1.0	950	$1,100	$1.16	43d	1	0.62mi
1502 Parkade Blvd Unit 2 Columbia, MO	2.0	1.0	700	$950	$1.36	43d	1	0.80mi
1311 W Worley St Columbia, MO	3.0	1.0	944	$1,500	$1.59	21d	1	0.83mi
100 E Stewart Rd Unit 3 Columbia, MO	1.0	1.0	750	$835	$1.11	13d	1	0.85mi
109 E Stewart Rd Columbia, MO	2.0–3.0	1.0	750	$950	$1.27	43d	3	0.85mi
109 E Stewart Rd Apt A Columbia, MO	2.0	1.0	1000	$1,500	$1.50	21d	1	0.85mi
109 E Stewart Rd Unit C Columbia, MO	2.0	1.0	750	$1,200	$1.60	21d	1	0.85mi
924 W Texas Ave Unit B Columbia, MO	2.0	1.0	662	$750	$1.13	13d	1	0.95mi
1600 Parkside Dr Columbia, MO	2.0	1.0	885	$950	$1.07	43d	1	1.02mi
1007 E Broadway Columbia, MO	1.0	1.0	600	$1,639	$2.73	21d	1	1.02mi
308 S 9th St Columbia, MO	1.0–2.0	1.0–2.0	824	$2,148	$2.61	43d	1	1.11mi
1110 E Broadway Unit B Columbia, MO	1.0	1.0	1015	$1,350	$1.33	43d	1	1.11mi
1001 University Ave Columbia, MO	1.0–2.0	1.0–2.0	932	$2,375	$2.55	21d	14	1.19mi
2012 W Ash St Columbia, MO	1.0–2.0	1.0	680	$1,115	$1.64	13d	15	1.41mi
110 Dorsey St Unit 201 Columbia, MO	2.0	1.0	700	$1,000	$1.43	43d	1	1.42mi
305 Tiger Ln Columbia, MO	1.0–2.0	1.0	615	$1,120	$1.82	13d	13	1.46mi

Listing history 20 events

1. 2026-06-14
   days on market $200,000 Active 63 DOM
2. 2026-06-13
   days on market $200,000 Active 62 DOM
3. 2026-06-10
   days on market $200,000 Active 60 DOM
4. 2026-06-09
   days on market $200,000 Active 59 DOM
5. 2026-06-08
   days on market $200,000 Active 58 DOM
6. 2026-06-07
   days on market $200,000 Active 57 DOM
7. 2026-06-05
   days on market $200,000 Active 54 DOM
8. 2026-06-03
   days on market $200,000 Active 53 DOM
9. 2026-06-02
   days on market $200,000 Active 52 DOM
10. 2026-05-31
    days on market $200,000 Active 50 DOM
11. 2026-05-30
    days on market $200,000 Active 49 DOM
12. 2026-05-22
    status Active
13. 2026-04-23
    status Pending
14. 2026-04-19
    price $200,000
15. 2026-03-13
    listed $215,000 Active
16. 2022-04-01
    soldstatus
17. 2002-08-09
    soldstatus 145-char remark

    Show marketing remark (145 chars)

    COMPLETELY UPDATED ALL APPLIANCES STAY INCLUDING WASHER DRYER REFRIGERATOR DOLL HOUSE 100% FINANCING AVAIL CONTING UPON REPLACEMENT PROPERTY NEGO

18. 2002-05-06
    listed $69,900 145-char remark

    Show marketing remark (145 chars)

    COMPLETELY UPDATED ALL APPLIANCES STAY INCLUDING WASHER DRYER REFRIGERATOR DOLL HOUSE 100% FINANCING AVAIL CONTING UPON REPLACEMENT PROPERTY NEGO

19. 1997-02-28
    soldstatus 129-char remark

    Show marketing remark (129 chars)

    COMPLETELY REMODELED HOME WITH A LARGE GARAGE WORKSHOP ALMOST EVERYTHING IS NEW GARDEN TUB MN-(798) K, LR, 2BR, B, UTR, OTH CRAWL

20. 1996-12-24
    listed $46,500 129-char remark

    Show marketing remark (129 chars)

    COMPLETELY REMODELED HOME WITH A LARGE GARAGE WORKSHOP ALMOST EVERYTHING IS NEW GARDEN TUB MN-(798) K, LR, 2BR, B, UTR, OTH CRAWL

ⓘ 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: $611 · $51/mo
• Projected year-2 tax: $1,940 · $162/mo
• Expected delta: +$1,329/yr (+$111/mo · 217.6%)

ⓘ 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 4/10 Moderate 7 d/yr ≥108°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: $15,734
• − Mortgage interest: −$11,203
• − Property taxes: −$611
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,259
• − Management: −$1,259
• − Depreciation: −$5,818
• Taxable loss: −$5,416
• Est. tax savings @ 24.0%: +$1,300
• After-tax cash flow: $-467/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

+330.1% since first listed

9 events — show timeline

• 2026-05-22 Relisted — CBORMLS
• 2026-04-23 Pending — CBORMLS
• 2026-04-19 Price Changed $200,000 CBORMLS
• 2026-03-13 Listed $215,000 CBORMLS
• 2022-04-01 Sold (Public Records) — Public Records
• 2002-08-09 Sold (MLS) — CBORMLS
• 2002-05-06 Listed $69,900 CBORMLS
• 1997-02-28 Sold (MLS) — CBORMLS
• 1996-12-24 Listed $46,500 CBORMLS

Property tax history

+3.8%/yr

Latest (2025): $611 · +11.1% YoY. Source: county tax records.