2306 Walther Ct · Columbia, MO 65203

$289,000

3 bd · 1.5 ba · 2,000 sqft · SingleFamily public records · 30 Days on market

Built 1962 9,750 sqft lot Est $316k · 9% under

---

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 +12.3/30.0
• ARV discount +11.3/15.0
• Livability +4.2/5.0
• Rent growth +4.0/5.0
• DSCR +3.7/10.0
• Schools +3.1/10.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this well maintained 4 bedroom ranch walk-out home on a quiet cut-de-sac in an established neighborhood near Fairview and Hulen Lakes with mature trees and a fenced yard. Featuring 3 main level bedrooms, 2.5 freshly remodeled bathrooms, an eat in kitchen, original hardwood floors on the main level and fresh LVP flooring on the lower level. You'll also enjoy a second living area, bedroom, kitchen and full bath downstairs along with plenty of storage space and a private entrance, plus new HVAC. Conveniently located near schools, parks, shopping and restaurants, this home would be ideal for first time home buyers and anyone looking for a great opportunity!

Key facts

• Fenced yard
• New hvac
• Second kitchen

Tags

• FENCED YARD
• MATURE TREES
• SECOND KITCHEN
• PRIVATE ENTRANCE
• NEW HVAC
• NEW WATER HEATER

Property features AI

Exterior

• Parking: Attached garage; Carport; Open parking; 1 garage space
• Utilities: Public water
• Home design: Single family residence; Faces north
• Construction: Below-grade finished area
• Exterior features: Back yard with partial fencing; Chain link and vinyl fencing; Cul-de-sac lot; Paved road

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Total rooms: 15
• Flooring: Wood flooring; Laminate flooring
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Natural gas heating with forced air; Central air; Attic fan
• Interior features: Eat-in kitchen; Finished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $289k.

Deal economics

• At list price, monthly cash flow is $-52 ($-625/yr) — negative.
• To cash-flow at today's rent, offer at most $280k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $221k (23.6% below list).
• Recommended offer: $221k (23.6% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: Fairview Elem. (math 42% / reading 52%, grade D-, #347 of 1,115 statewide, top 35%, 468 students, 28% 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).
• Market conditions: Rents rising fast (+6.1%/yr); 459 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% 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).
• This rent runs 33% of the median local income ($80k/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 $9k 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 30 days — a 2% lower offer ($285k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $220,836 (23.6% 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. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 0.76% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.77%
• DSCR: 0.97
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $316,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2515 Braemore Rd	0.22mi	3/2.5	2,056 (+3%)	5mo	$260,000	$126	77
2305 Walther Ct	0.02mi	4/2.0 (+1)	1,810 (-10%)	2mo	$300,000	$166	74
307 Bourn Ave	0.18mi	3/2.0	1,790 (-10%)	1mo	$299,000	$167	72
315 Loch Ln	0.12mi	4/2.0 (+1)	1,776 (-11%)	1mo	$279,900	$158	68
506 Laurel Dr	0.23mi	4/3.0 (+1)	1,879 (-6%)	1mo	$354,900	$189	67
819 Yale	0.35mi	3/2.0	2,184 (+9%)	1mo	$349,900	$160	66
2601 Highland Dr	0.27mi	3/2.0	2,208 (+10%)	3mo	$276,500	$125	65
504 Loch Ln	0.10mi	4/2.0 (+1)	1,758 (-12%)	6mo	$269,000	$153	63
2505 Highland Dr	0.25mi	4/2.0 (+1)	1,816 (-9%)	6mo	$315,000	$173	61
210 W Briarwood Ln	0.30mi	4/3.0 (+1)	2,190 (+10%)	3mo	$309,900	$142	57
213 Longfellow Ln	0.42mi	3/2.5	2,250 (+12%)	6mo	$275,000	$122	51
414 E Rockcreek Dr	0.36mi	4/2.5 (+1)	2,262 (+13%)	3mo	$350,000	$155	50

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: -14.5%
• Equity multiple: 0.47×
• Total profit: $-43,159
• Equity at exit: $43,091

10-year hold

• IRR: -1.8%
• Equity multiple: 0.86×
• Total profit: $-11,268
• Equity at exit: $24,987

Cash invested: $80,920 (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: 10.9×

Monthly cashflow live

• Estimated rent: $2,208 high
• Mortgage (P&I): −$1,516
• Tax from tax record: −$161 /mo · $1,929/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $-52

Break-even live

Break-even rent $2,274

Max offer price $279,802

Occupancy floor 97%

Sensitivity live

Price	-10% $112	-5% $30	+0% $-52	+5% $-134	+10% $-216
Rent	-10% $-227	-5% $-139	+0% $-52	+5% $35	+10% $122
Rate	-1.0pp $93	-0.5pp $21	base $-52	+0.5pp $-127	+1.0pp $-203

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2609 Wee Wynd Columbia, MO	3.0	1.5	1600	$2,500	$1.56	44d	1	0.34mi
3508 Berkshire Columbia, MO	3.0	2.5	1644	$1,695	$1.03	22d	1	0.83mi
340 Crown Pt Columbia, MO	4.0	2.5	2648	$2,250	$0.85	44d	1	0.84mi
2612 Face Rock Ct Columbia, MO	3.0	2.5	1996	$2,700	$1.35	44d	1	0.99mi
1810 Highridge Dr Columbia, MO	4.0	3.0	1636	$2,200	$1.34	22d	1	1.00mi
1409 Mills Dr Columbia, MO	3.0	1.5	1416	$1,800	$1.27	14d	1	1.18mi
203 Wheaton Ct Columbia, MO	3.0	2.0	1456	$2,800	$1.92	44d	1	1.19mi
201 Wheaton Ct Columbia, MO	3.0	2.0	1456	$2,800	$1.92	44d	1	1.19mi
201 Wheaton Ct Columbia, MO	3.0	2.0	1456	$2,800	$1.92	14d	1	1.19mi
207 Wheaton Ct Columbia, MO	3.0	2.0	1456	$2,800	$1.92	22d	1	1.19mi
205 Wheaton Ct Columbia, MO	3.0	2.0	1456	$2,800	$1.92	44d	1	1.19mi
205 Wheaton Ct Columbia, MO	3.0	2.0	1456	$2,800	$1.92	14d	1	1.19mi
211 Wheaton Ct Columbia, MO	3.0	2.0	1456	$1,550	$1.06	44d	1	1.20mi
202 Wheaton Ct Columbia, MO	3.0	2.0	1456	$2,800	$1.92	44d	1	1.21mi
215 Wheaton Ct Columbia, MO	3.0	2.0	1456	$1,550	$1.06	44d	1	1.21mi
204 Wheaton Ct Columbia, MO	3.0	2.0	1456	$2,800	$1.92	44d	1	1.21mi
210 Wheaton Ct Columbia, MO	3.0	2.0	1456	$1,550	$1.06	44d	1	1.22mi
212 Wheaton Ct Columbia, MO	3.0	2.0	1456	$2,800	$1.92	22d	1	1.23mi
1011 W Ash St Columbia, MO	4.0	2.0	1456	$1,550	$1.06	44d	1	1.24mi
1007 W Ash St Columbia, MO	4.0	2.0	1456	$1,550	$1.06	44d	1	1.25mi
205 West Blvd N Columbia, MO	4.0	2.0	1456	$1,550	$1.06	44d	1	1.28mi
215 West Blvd N Columbia, MO	4.0	2.0	1456	$2,800	$1.92	44d	1	1.29mi
215 West Blvd N Columbia, MO	4.0	2.0	1456	$2,800	$1.92	14d	1	1.29mi
319 West Blvd N Columbia, MO	4.0	2.0	1456	$2,800	$1.92	44d	1	1.29mi
4401 Faurot Dr Columbia, MO	4.0	3.0	1813	$1,975	$1.09	44d	1	1.41mi
1312 White Oak Ln Columbia, MO	3.0	3.0	1512	$1,725	$1.14	14d	3	1.42mi

Listing history 18 events

1. 2026-06-19
   days on market $289,000 Active 30 DOM
2. 2026-06-18
   days on market $289,000 Active 29 DOM
3. 2026-06-17
   days on market $289,000 Active 28 DOM
4. 2026-06-16
   days on market $289,000 Active 27 DOM
5. 2026-06-15
   days on market $289,000 Active 26 DOM
6. 2026-06-14
   days on market $289,000 Active 24 DOM
7. 2026-06-13
   days on market $289,000 Active 23 DOM
8. 2026-06-10
   days on market $289,000 Active 21 DOM
9. 2026-06-09
   days on market $289,000 Active 20 DOM
10. 2026-06-08
    days on market $289,000 Active 19 DOM
11. 2026-06-07
    days on market $289,000 Active 18 DOM
12. 2026-06-05
    days on market $289,000 Active 15 DOM
13. 2026-06-03
    days on market $289,000 Active 14 DOM
14. 2026-06-02
    days on market $289,000 Active 13 DOM
15. 2026-05-31
    days on market $289,000 Active 11 DOM
16. 2026-05-30
    days on market $289,000 Active 10 DOM
17. 2026-05-21
    status Active
18. 2026-05-01
    listed $289,000 Active

ⓘ 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: $1,929 · $161/mo
• Projected year-2 tax: $2,803 · $234/mo
• Expected delta: +$875/yr (+$73/mo · 45.4%)

ⓘ 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 ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,500
• − Mortgage interest: −$16,188
• − Property taxes: −$1,929
• − Insurance: −$1,445
• − Repairs & maintenance: −$2,120
• − Management: −$2,120
• − Depreciation: −$8,407
• Taxable loss: −$5,709
• Est. tax savings @ 24.0%: +$1,370
• After-tax cash flow: $745/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

2 events — show timeline

• 2026-05-21 Relisted — CBORMLS
• 2026-05-01 Listed $289,000 CBORMLS

Property tax history

+3.4%/yr

Latest (2025): $1,929 · +11.1% YoY. Source: county tax records.