3704-3706 Hermitage Rd · Columbia, MO 65201

$395,000

6 bd · 5.0 ba · 2,896 sqft · MultiFamily public records · 1 Days on market

Built 1987 0.28 ac lot

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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 +15.6/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• DSCR +4.8/10.0
• Livability +4.2/5.0
• 1% rule +3.3/10.0
• 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

Fantastic duplex in a great location!

Key facts

• 0.28 acre lot
• Built 1987

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $395k.

Deal economics

• At list price, monthly cash flow is $166 ($2k/yr) — positive. Per door: $83/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 $328k (17.0% below list).
• Recommended offer: $328k (17.0% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: New Haven Elem. (math 12% / reading 27%, grade F, #941 of 1,115 statewide, top 86%, 237 students, 61% FRL); Ann Hawkins Gentry Middle (math 40% / reading 47%, grade D, #127 of 391 statewide, top 34%, 719 students, 31% FRL); Rock Bridge Sr. High (math 39% / reading 68%, grade C-, #83 of 521 statewide, top 16%, 2,032 students, 18% FRL) — zoned schools at 37% FRL track the district average.
• Market conditions: Rents rising fast (+10.3%/yr); 355 active listings in the ZIP; 1,303 units permitted in Boone County in 2024 (549 in 5+ unit buildings).
• At $3,278/mo this rent would consume 82% of the median local household income ($48k/yr) (locally 4323% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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 $327,800 (17.0% 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. 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: 0.83% ✗
• Cap rate: 6.80%
• Cash-on-cash: 1.80%
• DSCR: 1.08
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.67×
• Total profit: $-36,240
• Equity at exit: $58,896

10-year hold

• IRR: 6.1%
• Equity multiple: 1.55×
• Total profit: $60,352
• Equity at exit: $34,152

Cash invested: $110,600 (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 65201

• Rents YoY: 10.3%
• Active inventory: 355
• Price-to-rent: 20.1×

Monthly cashflow live

• Estimated rent: $3,278 high
• Mortgage (P&I): −$2,071
• Tax from tax record: −$187 /mo · $2,250/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$688
• Net cashflow: $166

Break-even live

Break-even rent $3,068

Max offer price $395,000

Occupancy floor 90%

Sensitivity live

Price	-10% $390	-5% $278	+0% $166	+5% $54	+10% $-57
Rent	-10% $-93	-5% $37	+0% $166	+5% $296	+10% $425
Rate	-1.0pp $365	-0.5pp $267	base $166	+0.5pp $64	+1.0pp $-40

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$3,278
Total (2 units)			$3,278

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-03-11
   status Pending
2. 2026-03-11
   listed $395,000 Active
3. 2024-11-16
   historical $1,500
4. 2024-11-01
   price $1,500
5. 2024-10-26
   listed $1,550
6. 2023-09-25
   historical $1,300
7. 2023-08-19
   listed $1,300

ⓘ 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: $2,250 · $187/mo
• Projected year-2 tax: $3,832 · $319/mo
• Expected delta: +$1,582/yr (+$132/mo · 70.3%)

ⓘ 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,336
• − Mortgage interest: −$22,126
• − Property taxes: −$2,250
• − Insurance: −$1,975
• − Repairs & maintenance: −$3,147
• − Management: −$3,147
• − Depreciation: −$11,491
• Taxable loss: −$4,799
• Est. tax savings @ 24.0%: +$1,152
• After-tax cash flow: $3,146/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): 50,011
• Household income: $48,113
• Rent vs Own: 67.8% rent · 32.2% own
• Severe rent burden: 4323.0

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 (74%)
• Race & ethnicity: White 74% Black 8% Two or more races 7% Asian 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Italian 2% Romanian 2%
• Foreign-born: 9% · China, Canada, Vietnam
• Languages at home: 88% English-only · Spanish 4% Chinese 2% Other Indo-European 2%

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: ▼ -170.32%
• Current HPI: 195.2059
• Rent YoY: ▲ 10.33%
• 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

+30284.6% since first listed

7 events — show timeline

• 2026-03-11 Pending — CBORMLS
• 2026-03-11 Listed $395,000 CBORMLS
• 2024-11-16 Rental Removed $1,500 APPFOLIO
• 2024-11-01 Price Changed $1,500 APPFOLIO
• 2024-10-26 Listed for Rent $1,550 APPFOLIO
• 2023-09-25 Rental Removed $1,300 APPFOLIO
• 2023-08-19 Listed for Rent $1,300 APPFOLIO

Property tax history

+3.1%/yr

Latest (2025): $2,250 · +6.8% YoY. Source: county tax records.