608 Washington St · Jefferson City, MO 65101

$150,000

3 bd · 2.0 ba · 1,856 sqft · Condo public records · 5 Days on market

Built 1910

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Why this score? — see what drove the C- 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 +19.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +4.3/10.0
• Livability +4.2/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Exceptional opportunity to acquire a well-maintained, fully leased rental property located in central / east Jefferson City neighborhood. This building consists of two 1-bedrm, 1-bath units, each currently occupied on month-to-month leases, offering immediate income w/ built-in flexibility for future rent optimization. Properties feature functional layouts, & strong rental history. Rents vary across units w/ potential for an investor seeking to align pricing with current market rates over time. Strategically positioned in established areas w/ access to shopping, dining, & transportation, this property appeals to a broad tenant base & supports long-term occupancy stability. Ideal for investors looking to expand their portfolio w/ income-producing assets or 1031 exchange buyers.

Key facts

• Access to shopping
• Access to dining
• 4,791 sq ft lot

Tags

• FULLY LEASED RENTAL PROPERTY
• STRONG RENTAL HISTORY
• ACCESS TO SHOPPING
• ACCESS TO DINING
• ACCESS TO TRANSPORTATION
• LONG-TERM OCCUPANCY STABILITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $177 ($2k/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 $140k (7.0% below list).
• Recommended offer: $140k (7.0% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 3.7% in Jefferson City — 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 (#7 in MO, #838 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-.
• Jefferson City (urban): math 34% / reading 48% proficiency, ranked #121 of 324 in MO (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: South Elem. (math 27% / reading 32%, grade F, #813 of 1,115 statewide, top 75%, 312 students, 99% FRL); Thomas Jefferson Middle (math 33% / reading 44%, grade F, #202 of 391 statewide, top 54%, 957 students, 52% FRL); Capital City High School (math 45% / reading 67%, grade C, #59 of 521 statewide, top 11%, 1,404 students, 41% FRL) — zoned schools average 64% FRL vs 44% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 192 active listings in the ZIP; 173 units permitted in Cole County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cole County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,573 (7.0% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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.
6. 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.
7. 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: 0.93% ✗
• Cap rate: 7.71%
• Cash-on-cash: 5.05%
• DSCR: 1.22
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -8.5%
• Equity multiple: 0.69×
• Total profit: $-13,089
• Equity at exit: $22,365

10-year hold

• IRR: 1.0%
• Equity multiple: 1.07×
• Total profit: $2,915
• Equity at exit: $12,969

Cash invested: $42,000 (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 65101

• Home prices YoY: -29.1%
• Active inventory: 192
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,396 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$77 /mo · $920/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $177

Break-even live

Break-even rent $1,172

Max offer price $150,000

Occupancy floor 82%

Sensitivity live

Price	-10% $262	-5% $219	+0% $177	+5% $134	+10% $92
Rent	-10% $67	-5% $122	+0% $177	+5% $232	+10% $287
Rate	-1.0pp $252	-0.5pp $215	base $177	+0.5pp $138	+1.0pp $98

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-04-26
   status Pending

   Show marketing remark (803 chars)

   Exceptional opportunity to acquire a well-maintained, fully leased rental property located in central / east Jefferson City neighborhood. This building consists of two 1-bedrm, 1-bath units, each currently occupied on month-to-month leases, offering immediate income w/ built-in flexibility for future rent optimization. Properties feature functional layouts, & strong rental history. Rents vary across units w/ potential for an investor seeking to align pricing with current market rates over time. Strategically positioned in established areas w/ access to shopping, dining, & transportation, this property appeals to a broad tenant base & supports long-term occupancy stability. Ideal for investors looking to expand their portfolio w/ income-producing assets or 1031 exchange buyers.

2. 2026-04-26
   status Pending 803-char remark

   Show marketing remark (803 chars)

   Exceptional opportunity to acquire a well-maintained, fully leased rental property located in central / east Jefferson City neighborhood. This building consists of two 1-bedrm, 1-bath units, each currently occupied on month-to-month leases, offering immediate income w/ built-in flexibility for future rent optimization. Properties feature functional layouts, & strong rental history. Rents vary across units w/ potential for an investor seeking to align pricing with current market rates over time. Strategically positioned in established areas w/ access to shopping, dining, & transportation, this property appeals to a broad tenant base & supports long-term occupancy stability. Ideal for investors looking to expand their portfolio w/ income-producing assets or 1031 exchange buyers.

3. 2026-04-20
   listed $150,000 Active

   Show marketing remark (803 chars)

   Exceptional opportunity to acquire a well-maintained, fully leased rental property located in central / east Jefferson City neighborhood. This building consists of two 1-bedrm, 1-bath units, each currently occupied on month-to-month leases, offering immediate income w/ built-in flexibility for future rent optimization. Properties feature functional layouts, & strong rental history. Rents vary across units w/ potential for an investor seeking to align pricing with current market rates over time. Strategically positioned in established areas w/ access to shopping, dining, & transportation, this property appeals to a broad tenant base & supports long-term occupancy stability. Ideal for investors looking to expand their portfolio w/ income-producing assets or 1031 exchange buyers.

4. 2026-04-20
   listed $150,000 Active 803-char remark

   Show marketing remark (803 chars)

   Exceptional opportunity to acquire a well-maintained, fully leased rental property located in central / east Jefferson City neighborhood. This building consists of two 1-bedrm, 1-bath units, each currently occupied on month-to-month leases, offering immediate income w/ built-in flexibility for future rent optimization. Properties feature functional layouts, & strong rental history. Rents vary across units w/ potential for an investor seeking to align pricing with current market rates over time. Strategically positioned in established areas w/ access to shopping, dining, & transportation, this property appeals to a broad tenant base & supports long-term occupancy stability. Ideal for investors looking to expand their portfolio w/ income-producing assets or 1031 exchange buyers.

ⓘ 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: $920 · $77/mo
• Projected year-2 tax: $1,455 · $121/mo
• Expected delta: +$535/yr (+$45/mo · 58.2%)

ⓘ 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 5/10 Major 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: $16,749
• − Mortgage interest: −$8,402
• − Property taxes: −$920
• − Insurance: −$750
• − Repairs & maintenance: −$1,340
• − Management: −$1,340
• − Depreciation: −$4,364
• Taxable loss: −$367
• Est. tax savings @ 24.0%: +$88
• After-tax cash flow: $2,210/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: Jefferson City
• NCES district ID: 2916190
• Math proficiency: 34% ▼ -1.00%
• Reading proficiency: 48% ▲ 5.00%
• Median HH income: $51,903
• Composite: 35.45/100
• National rank: #4930
• State rank: #121 of 324 in MO

Livability — Jefferson City

• Score: 83/100
• State rank: #7
• US rank: #838

Category grades

Amenities A Commute A Cost of living A+ Crime C- Employment C+ Housing A+ Health & safety A+ User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jefferson City, MO
• City population: 41,145
• Population (ZIP): 29,777

Population outlook (Cole County) Hauer SSP2

• Today (2025): 78,107 people
• By 2030: 78,089 · +-0.0%
• By 2040: 76,814 · -1.7%
• By 2050: 74,515 · -4.6%
• By 2075: 67,687 · -13.3%
• By 2100: 55,023 · -29.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 19% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Cole

• 2024 margin: Solid R (+34.4) · D 32.1% · R 66.5% · Other 1.4%
• 2008→2024 swing: -7.5pp toward R · 2008: -26.9pp · 2024: -34.4pp
• All cycles: 2024: R+34.4 2020: R+33.9 2016: R+36.8 2012: R+33.7 2008: R+26.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -86.16%
• Current HPI: 209.3832
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

4 events — show timeline

• 2026-04-26 Pending — CBORMLS
• 2026-04-26 Pending — JCMLS
• 2026-04-20 Listed $150,000 CBORMLS
• 2026-04-20 Listed $150,000 JCMLS

Property tax history

+1.8%/yr

Latest (2025): $920 · +5.2% YoY. Source: county tax records.