506 Noble Ct · Columbia, MO 65203

$130,000

2 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 7 Days on market

Built 1960 6,240 sqft lot Est $181k · 28% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• 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

Solid bones, real opportunity and room to make it yours. This 1-story home sits on a 0.14-acre lot in an established Columbia neighborhood. Built in 1960 with approximately 1,008 sq ft, it offers a manageable footprint with genuine upside for the right buyer. Sold strictly as-is; priced to reflect current condition. Perfect for the cash investor, renovator, or hands-on buyer ready to add value. Cash or Conventional financing only.

Key facts

• 6,240 sq ft lot
• Garage
• Listed 7 days

Property features AI

Exterior

• Parking: 1-car garage; Carport; Open parking available
• Utilities: Public water
• Home design: Single-family residence (Residential property type)
• Construction: Slab foundation
• Exterior features: Lot dimensions approximately 60 x 104; Zoned for multi-family residential (R-MF Multiple-Family Dwelling)

Interior

• Bedrooms: Not specified
• Bathrooms: 1 full bathroom
• Interior features: 1 total room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $486 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 11.3% 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: Thomas Benton Elem. (math 12% / reading 27%, grade F, #941 of 1,115 statewide, top 86%, 216 students, 99% FRL); Jefferson Middle School (math 45% / reading 54%, grade C, #74 of 391 statewide, top 20%, 625 students, 32% FRL); David H. Hickman High (math 27% / reading 55%, grade F, #236 of 521 statewide, top 45%, 2,044 students, 33% FRL) — zoned schools average 55% FRL vs 35% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.1%/yr); 459 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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 $899 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.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,000

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
7. 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.
8. 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: 1.31% ✓
• Cap rate: 11.29%
• Cash-on-cash: 17.84%
• DSCR: 1.79
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $181,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
506 Noble Ct	0.00mi	2/1.0	1,008 (0%)	1mo	$130,000	$129	99
102 E Sexton Rd	0.10mi	2/1.0	1,022 (+1%)	2mo	$184,000	$180	92
506 W Worley St	0.42mi	3/1.0 (+1)	1,005 (-0%)	0mo	$175,000	$174	74
422 Alexander Ave	0.31mi	2/1.0	1,086 (+8%)	1mo	$92,500	$85	72
603 N 6th St	0.38mi	2/1.0	1,062 (+5%)	2mo	$174,900	$165	72
21 Aldeah Ave	0.51mi	2/1.0	984 (-2%)	1mo	$250,000	$254	71
15 Mcbaine Ave	0.46mi	2/1.0	968 (-4%)	1mo	$240,000	$248	71
303 N Fifth St	0.39mi	3/1.5 (+1)	984 (-2%)	1mo	$198,500	$202	70
307 Ridgeway Ave	0.54mi	3/1.0 (+1)	1,074 (+6%)	6mo	$178,900	$167	54
713 Ridgeway Ave	0.57mi	3/1.0 (+1)	1,106 (+10%)	3mo	$182,000	$165	50
123 Anderson Ave	0.67mi	2/1.0	1,104 (+10%)	5mo	$235,000	$213	49
807 Hope Pl	0.67mi	2/1.0	868 (-14%)	2mo	$189,000	$218	44

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: 10.3%
• Equity multiple: 1.42×
• Total profit: $15,354
• Equity at exit: $19,383

10-year hold

• IRR: 21.8%
• Equity multiple: 3.12×
• Total profit: $77,179
• Equity at exit: $11,240

Cash invested: $36,400 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,709 high
• Mortgage (P&I): −$682
• Tax from tax record: −$73 /mo · $876/yr
• Insurance: −$54
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $486

Break-even live

Break-even rent $1,094

Max offer price $130,000

Occupancy floor 67%

Sensitivity live

Price	-10% $559	-5% $523	+0% $486	+5% $449	+10% $412
Rent	-10% $351	-5% $418	+0% $486	+5% $553	+10% $621
Rate	-1.0pp $551	-0.5pp $519	base $486	+0.5pp $452	+1.0pp $418

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
302 Alexander Ave Columbia, MO	3.0	2.0	1296	$1,350	$1.04	21d	1	0.33mi
309 Alexander Ave Columbia, MO	2.0	1.0	728	$1,200	$1.65	14d	1	0.34mi
103 N Garth Ave Columbia, MO	3.0	2.0	1196	$2,950	$2.47	21d	1	0.36mi
301 W Forest Ave Columbia, MO	3.0	2.0	1162	$1,395	$1.20	14d	1	0.46mi
113 Crestmere Ave Unit 101 Columbia, MO	2.0	1.0	1300	$3,000	$2.31	44d	1	0.53mi
113 Crestmere Ave Unit 201 Columbia, MO	2.0	1.0	1022	$1,750	$1.71	44d	1	0.53mi
607 Ridgeway Ave Columbia, MO	2.0	1.0	728	$1,300	$1.79	44d	1	0.56mi
403 N 9th St Columbia, MO	3.0	2.0	1397	$1,800	$1.29	14d	1	0.58mi
812 Again St Columbia, MO	2.0	1.0	780	$1,300	$1.67	45d	1	0.66mi
1009 Otto Ct Columbia, MO	2.0	1.0	1210	$1,230	$1.02	21d	1	0.69mi
1502 Parkade Blvd Unit 2 Columbia, MO	2.0	1.0	700	$950	$1.36	44d	1	0.78mi
109 E Stewart Rd Unit C Columbia, MO	2.0	1.0	750	$1,200	$1.60	21d	1	0.80mi
109 E Stewart Rd Apt A Columbia, MO	2.0	1.0	1000	$1,500	$1.50	21d	1	0.80mi
109 E Stewart Rd Columbia, MO	2.0–3.0	1.0	750	$950	$1.27	44d	3	0.80mi
100 E Stewart Rd Unit 3 Columbia, MO	1.0	1.0	750	$835	$1.11	14d	1	0.82mi
1003 Hardin St Columbia, MO	2.0	1.0	950	$1,100	$1.16	44d	1	0.83mi
5 S Greenwood Ave Columbia, MO	2.0	1.0	1104	$1,600	$1.45	21d	1	0.83mi
1200 E Walnut St Columbia, MO	2.0	2.0	1470	$2,575	$1.75	14d	2	0.84mi
1009 Hardin St Columbia, MO	2.0	2.0	1300	$1,500	$1.15	21d	1	0.85mi
1110 E Broadway Unit B Columbia, MO	1.0	1.0	1015	$1,350	$1.33	44d	1	0.85mi
212 Wheaton Ct Columbia, MO	3.0	2.0	1456	$2,800	$1.92	21d	1	0.89mi
210 Wheaton Ct Columbia, MO	3.0	2.0	1456	$1,550	$1.06	44d	1	0.89mi
204 Wheaton Ct Columbia, MO	3.0	2.0	1456	$2,800	$1.92	44d	1	0.89mi
202 Wheaton Ct Columbia, MO	3.0	2.0	1456	$2,800	$1.92	44d	1	0.90mi
215 Wheaton Ct Columbia, MO	3.0	2.0	1456	$1,550	$1.06	44d	1	0.91mi
105 Clinton Dr Columbia, MO	2.0	1.0	830	$1,300	$1.57	21d	1	0.91mi
205 Wheaton Ct Columbia, MO	3.0	2.0	1456	$2,800	$1.92	44d	1	0.92mi
205 Wheaton Ct Columbia, MO	3.0	2.0	1456	$2,800	$1.92	14d	1	0.92mi
308 S 9th St Columbia, MO	1.0–2.0	1.0–2.0	824	$2,148	$2.61	44d	1	0.92mi
211 Wheaton Ct Columbia, MO	3.0	2.0	1456	$1,550	$1.06	44d	1	0.92mi
201 Wheaton Ct Columbia, MO	3.0	2.0	1456	$2,800	$1.92	44d	1	0.92mi
201 Wheaton Ct Columbia, MO	3.0	2.0	1456	$2,800	$1.92	14d	1	0.92mi
207 Wheaton Ct Columbia, MO	3.0	2.0	1456	$2,800	$1.92	21d	1	0.92mi
1002 W Broadway Columbia, MO	2.0	1.0	788	$1,425	$1.81	44d	1	0.92mi
203 Wheaton Ct Columbia, MO	3.0	2.0	1456	$2,800	$1.92	44d	1	0.92mi
1103 W Broadway Unit 1121B;1/2HW Columbia, MO	2.0	2.0	1200	$1,395	$1.16	44d	1	0.98mi
1001 University Ave Columbia, MO	1.0–2.0	1.0–2.0	932	$2,375	$2.55	21d	14	1.01mi
1311 W Worley St Columbia, MO	3.0	1.0	944	$1,500	$1.59	21d	1	1.13mi
1600 Parkside Dr Columbia, MO	2.0	1.0	885	$950	$1.07	44d	1	1.15mi
110 Dorsey St Unit 201 Columbia, MO	2.0	1.0	700	$1,000	$1.43	44d	1	1.17mi

Listing history 3 events

1. 2026-04-29
   status Pending
2. 2026-04-22
   listed $130,000 Active
3. 2009-01-20
   soldstatus

ⓘ 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: $876 · $73/mo
• Projected year-2 tax: $1,261 · $105/mo
• Expected delta: +$385/yr (+$32/mo · 44.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 99% 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: $20,509
• − Mortgage interest: −$7,282
• − Property taxes: −$876
• − Insurance: −$1,316
• − Repairs & maintenance: −$1,641
• − Management: −$1,641
• − Depreciation: −$3,782
• Taxable income: $3,971
• Est. tax owed @ 24.0%: −$953
• After-tax cash flow: $4,876/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

3 events — show timeline

• 2026-04-29 Pending — CBORMLS
• 2026-04-22 Listed $130,000 CBORMLS
• 2009-01-20 Sold (Public Records) — Public Records

Property tax history

+2.2%/yr

Latest (2020): $876 · -0.0% YoY. Source: county tax records.