609 Paris Ct Ct

Columbia, MO 65201

$195,000D

3 bd · 1.0 ba · 967 sqft · Built 1945 · SingleFamily · Pending · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,581/mo
• Mortgage (P&I): −$1,023
• Tax + insurance: −$208
• HOA: −$0
• Vac / Maint / Mgmt: −$332
• Net cashflow: $18/mo
• Annual: $220/yr
• Cap rate: 6.41%
• Cash-on-cash: 0.40%
• DSCR: 1.02
• 1% rule: 0.81%
• Cash to close: $54,600

Investor read

• This is a 3-bed/1.0-bath single-family listed at $195k.
• At list price, monthly cash flow is $18 ($220/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (18.9% below list).
• It's been on market 17 days — a 2% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $158k (18.9% below list) — sets the bar for 1% rule.
• 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.
• 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: John Ridgeway Elem. (math 37% / reading 57%, grade D-, #347 of 1,115 statewide, top 35%, 227 students, 14% FRL); Jefferson Middle School (math 45% / reading 54%, grade C, #74 of 391 statewide, top 20%, 625 students, 32% 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 50% at this address vs 36% district-wide (+14 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.
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+10.3%/yr); 355 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,303 units permitted in Boone County in 2024 (549 in 5+ unit buildings).
• Boone County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 24y 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.
• Cap rate 6.4% 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.
• This rent runs 39% of the median local income ($48k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.
• 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.
• 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.