1401-1403 Mills Dr · Columbia, MO 65203

$300,000

6 bd · 4.0 ba · 3,734 sqft · MultiFamily public records · 32 Days on market

Built 1970 10,880 sqft lot

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Why this score? — see what drove the B 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• 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

1401 $500MO 7/31/00 1403 $500MO 7/31/00 7/4/2 7/4/2

Key facts

• Unfinished basements
• Investment duplex
• Central air

Tags

• INVESTMENT DUPLEX
• HIGHLY DESIRABLE LOCATION
• SPACIOUS LAYOUT
• UNFINISHED BASEMENTS
• CENTRAL AIR
• FORCED AIR GAS FURNACES

Property features AI

Exterior

• Parking: On-street parking
• Security: Carbon monoxide detector(s)
• Utilities: Natural gas available
• Home design: Duplex (residential income property); Zoned R-2 for two-family dwelling
• Exterior features: Composition roof

Interior

• Heating & cooling: Central air conditioning; Natural gas heating with forced air
• Interior features: Basement present

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $747/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Recommended offer: $291k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.3% 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: 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-school proficiency averages 48% at this address vs 36% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Columbia 93 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+6.1%/yr); 459 active listings in the ZIP; solid renter incomes; 1,303 units permitted in Boone County in 2024 (549 in 5+ unit buildings).
• At $4,234/mo this rent would consume 64% of the median local household income ($80k/yr) (locally 1991% 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 $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.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $84k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 27y ago; this cycle's ask has dropped $25k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $291,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
9. 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.
10. 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: 1.41% ✓
• Cap rate: 12.27%
• Cash-on-cash: 21.35%
• DSCR: 1.95
• GRM: 5.9

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: 17.1%
• Equity multiple: 1.72×
• Total profit: $60,091
• Equity at exit: $44,731

10-year hold

• IRR: 27.6%
• Equity multiple: 3.79×
• Total profit: $233,961
• Equity at exit: $25,939

Cash invested: $84,000 (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: 11.8×

Monthly cashflow live

• Estimated rent: $4,234 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$152 /mo · $1,822/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$889
• Net cashflow: $1,495

Break-even live

Break-even rent $2,342

Max offer price $300,000

Occupancy floor 60%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	2	$4,234
Total (2 units)			$4,234

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-17
   statusdays on market $300,000 Pending 32 DOM
2. 2026-06-16
   days on market $300,000 Active 31 DOM
3. 2026-06-15
   days on market $300,000 Active 30 DOM
4. 2026-06-14
   days on market $300,000 Active 28 DOM
5. 2026-06-13
   days on market $300,000 Active 27 DOM
6. 2026-06-10
   days on market $300,000 Active 25 DOM
7. 2026-06-09
   days on market $300,000 Active 24 DOM
8. 2026-06-09
   remarks 699-char remark
9. 2026-06-08
   days on market $300,000 Active 23 DOM
10. 2026-06-07
    days on market $300,000 Active 22 DOM
11. 2026-06-05
    pricedays on market $300,000 Active 19 DOM
12. 2026-06-03
    days on market $320,000 Active 18 DOM
13. 2026-06-02
    days on market $320,000 Active 17 DOM
14. 2026-05-31
    days on market $320,000 Active 15 DOM
15. 2026-05-30
    days on market $320,000 Active 14 DOM
16. 2026-05-16
    price $335,000
17. 2026-05-15
    listed $325,000 Active
18. 2006-03-08
    soldstatus
19. 1999-10-15
    soldstatus 51-char remark

    Show marketing remark (51 chars)

    1401 $500MO 7/31/00 1403 $500MO 7/31/00 7/4/2 7/4/2

20. 1999-09-08
    listed $106,000 51-char remark

    Show marketing remark (51 chars)

    1401 $500MO 7/31/00 1403 $500MO 7/31/00 7/4/2 7/4/2

ⓘ 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: $1,822 · $152/mo
• Projected year-2 tax: $2,910 · $242/mo
• Expected delta: +$1,088/yr (+$91/mo · 59.8%)

ⓘ 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 2/10 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: $50,808
• − Mortgage interest: −$16,805
• − Property taxes: −$1,822
• − Insurance: −$1,500
• − Repairs & maintenance: −$4,065
• − Management: −$4,065
• − Depreciation: −$8,727
• Taxable income: $13,825
• Est. tax owed @ 24.0%: −$3,318
• After-tax cash flow: $14,620/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

+216.0% since first listed

5 events — show timeline

• 2026-05-16 Price Changed $335,000 CBORMLS
• 2026-05-15 Listed $325,000 CBORMLS
• 2006-03-08 Sold (Public Records) — Public Records
• 1999-10-15 Sold (MLS) — CBORMLS
• 1999-09-08 Listed $106,000 CBORMLS

Property tax history

+2.7%/yr

Latest (2025): $1,822 · +6.8% YoY. Source: county tax records.