1453 Luce St · Cape Girardeau, MO 63701

$164,900

3 bd · 1.0 ba · 1,560 sqft · SingleFamily public records · 7 Days on market

Built 1940 Est $178k · 7% under

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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 +19.4/30.0
• ARV discount +10.8/15.0
• DSCR +6.1/10.0
• 1% rule +4.1/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located near Capaha park, Franklin School, & Southeast Hospital, this inviting bungalow with covered porch has lots of great qualities. Spacious, open living room, dining room, and kitchen extend from the front of the house to the back, with an eat at bar between the dining room and kitchen. On the side is each of the three bedrooms, two good size and one nice and cozy. Three year old carpet in living room, dining room, and bedrooms. Two year old vinyl plank flooring in the kitchen and main level bathroom. The second bathroom and washer/dryer hookups in the unfinished basement. New furnace in 2017. Looking for a great place to live or a great rental property? It's been rented for several years for $750 per month and currently has a month to month tenant. Driveway and garage shared.

Key facts

• New windows
• Stylish flooring
• Modern lighting

Tags

• UPDATED KITCHEN APPLIANCES
• LARGE COVERED FRONT PORCH
• NEW WINDOWS
• STYLISH FLOORING
• MODERN LIGHTING

Property features AI

Finance

• Financial info: Home warranty included

Exterior

• Parking: Detached or attached garage with space for 1 vehicle (has garage); 1 parking space total
• Utilities: Public water; Public sewer; Electric service by Ameren; Cable available; Natural gas connected; Water, sewer and electricity connected
• Home design: Single-family residence; Residential property
• Construction: Brick construction
• Exterior features: Corner lot

Interior

• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms (one on main level, one in basement)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric)
• Interior features: Finished basement with walk-up access and a bathroom; One-level living

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $183 ($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 $149k (9.5% below list).
• Recommended offer: $149k (9.5% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 3.9% in Cape Girardeau — 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 64/100 on livability (#297 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Cape Girardeau 63 (urban): math 33% / reading 42% proficiency, ranked #188 of 324 in MO (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Franklin Elem. (math 32% / reading 37%, grade F, #676 of 1,115 statewide, top 66%, 217 students, 0% FRL); Central High (math 36% / reading 47%, grade F, #234 of 521 statewide, top 45%, 1,341 students, 0% FRL) — zoned schools average 0% FRL vs 60% district-wide (60 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.3%/yr); 326 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 81 units permitted in Cape Girardeau 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 $5k of value loss. Plan a longer hold.
• Cape Girardeau County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,300 (9.5% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F 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?
4. 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.
5. 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.
6. 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: 0.91% ✗
• Cap rate: 7.62%
• Cash-on-cash: 4.76%
• DSCR: 1.21
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $177,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1516 Luce St	0.11mi	3/1.5	1,408 (-10%)	2mo	$159,900	$114	75
1609 Themis St	0.18mi	3/2.0	1,694 (+9%)	1mo	$229,900	$136	73
1419 Themis St	0.08mi	3/1.0	1,368 (-12%)	5mo	$154,900	$113	72
1716 Whitener St	0.31mi	3/2.0	1,620 (+4%)	4mo	$225,000	$139	71
423 N Sunset Blvd	0.30mi	3/2.0	1,623 (+4%)	7mo	$249,900	$154	69
2112 Merriwether St	0.55mi	3/2.0	1,520 (-3%)	1mo	$179,900	$118	65
1 N Park Ave	0.24mi	4/2.0 (+1)	1,401 (-10%)	1mo	$169,900	$121	62
25 S Benton St	0.44mi	4/2.0 (+1)	1,512 (-3%)	6mo	$170,000	$112	60
519 N Sunset Blvd	0.36mi	2/2.0 (-1)	1,684 (+8%)	1mo	$159,900	$95	60
1013 William St	0.55mi	4/2.0 (+1)	1,530 (-2%)	5mo	$68,900	$45	58
1601 Bloomfield St	0.57mi	3/2.0	1,692 (+8%)	3mo	$99,900	$59	53
803 William St	0.67mi	3/1.0	1,680 (+8%)	6mo	$84,900	$51	51

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 · 3.27% rent growth · sell at horizon

5-year hold

• IRR: -8.7%
• Equity multiple: 0.68×
• Total profit: $-14,722
• Equity at exit: $24,587

10-year hold

• IRR: 1.1%
• Equity multiple: 1.08×
• Total profit: $3,603
• Equity at exit: $14,258

Cash invested: $46,172 (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 63701

• Rents YoY: 3.3%
• Active inventory: 326
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,493 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$63 /mo · $756/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $183

Break-even live

Break-even rent $1,261

Max offer price $164,900

Occupancy floor 83%

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
Cape Girardeau Cape Girardeau, MO	1.0–3.0	1.0–2.0	931	$1,000	$1.07	43d	7	1.10mi
2581 Fairlane Dr Cape Girardeau, MO	4.0	2.0	2223	$2,250	$1.01	43d	1	1.40mi

Listing history 9 events

1. 2026-06-02
   status $164,900 Pending 7 DOM
2. 2026-06-01
   days on market $164,900 Active 7 DOM
3. 2026-05-31
   days on market $164,900 Active 6 DOM
4. 2026-05-30
   days on market $164,900 Active 5 DOM
5. 2026-05-25
   listed $164,900 Active
6. 2020-11-24
   soldstatus
7. 2020-11-23
   soldstatus Closed 796-char remark

   Show marketing remark (796 chars)

   Located near Capaha park, Franklin School, & Southeast Hospital, this inviting bungalow with covered porch has lots of great qualities. Spacious, open living room, dining room, and kitchen extend from the front of the house to the back, with an eat at bar between the dining room and kitchen. On the side is each of the three bedrooms, two good size and one nice and cozy. Three year old carpet in living room, dining room, and bedrooms. Two year old vinyl plank flooring in the kitchen and main level bathroom. The second bathroom and washer/dryer hookups in the unfinished basement. New furnace in 2017. Looking for a great place to live or a great rental property? It's been rented for several years for $750 per month and currently has a month to month tenant. Driveway and garage shared.

8. 2020-10-12
   status Pending 796-char remark

   Show marketing remark (796 chars)

   Located near Capaha park, Franklin School, & Southeast Hospital, this inviting bungalow with covered porch has lots of great qualities. Spacious, open living room, dining room, and kitchen extend from the front of the house to the back, with an eat at bar between the dining room and kitchen. On the side is each of the three bedrooms, two good size and one nice and cozy. Three year old carpet in living room, dining room, and bedrooms. Two year old vinyl plank flooring in the kitchen and main level bathroom. The second bathroom and washer/dryer hookups in the unfinished basement. New furnace in 2017. Looking for a great place to live or a great rental property? It's been rented for several years for $750 per month and currently has a month to month tenant. Driveway and garage shared.

9. 2020-09-14
   listed $79,900 Active 796-char remark

   Show marketing remark (796 chars)

   Located near Capaha park, Franklin School, & Southeast Hospital, this inviting bungalow with covered porch has lots of great qualities. Spacious, open living room, dining room, and kitchen extend from the front of the house to the back, with an eat at bar between the dining room and kitchen. On the side is each of the three bedrooms, two good size and one nice and cozy. Three year old carpet in living room, dining room, and bedrooms. Two year old vinyl plank flooring in the kitchen and main level bathroom. The second bathroom and washer/dryer hookups in the unfinished basement. New furnace in 2017. Looking for a great place to live or a great rental property? It's been rented for several years for $750 per month and currently has a month to month tenant. Driveway and garage shared.

ⓘ 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: $756 · $63/mo
• Projected year-2 tax: $1,600 · $133/mo
• Expected delta: +$844/yr (+$70/mo · 111.6%)

ⓘ 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 ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,916
• − Mortgage interest: −$9,237
• − Property taxes: −$756
• − Insurance: −$824
• − Repairs & maintenance: −$1,433
• − Management: −$1,433
• − Depreciation: −$4,797
• Taxable loss: −$565
• Est. tax savings @ 24.0%: +$136
• After-tax cash flow: $2,332/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: Cape Girardeau 63
• NCES district ID: 2907120
• Math proficiency: 33% ▼ -6.00%
• Reading proficiency: 42% ▼ -7.00%
• Median HH income: $40,543
• Composite: 31.49/100
• National rank: #5974
• State rank: #188 of 324 in MO

Livability — Cape Girardeau

• Score: 64/100
• State rank: #297
• US rank: #13759

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cape Girardeau, MO
• County: Cape Girardeau County · 75,175 people
• City population: 47,546
• Metro: Cape Girardeau, MO-IL
• Population (ZIP): 39,345
• Household income: $66,654
• Rent vs Own: 39.0% rent · 61.0% own
• Severe rent burden: 1300.0

Population outlook (Cape Girardeau County) Hauer SSP2

• Today (2025): 84,807 people
• By 2030: 88,016 · +3.8%
• By 2040: 93,914 · +10.7%
• By 2050: 99,541 · +17.4%
• By 2075: 114,527 · +35.0%
• By 2100: 121,718 · +43.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 12% Two or more races 4% Hispanic / Latino 3% Asian 3%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 3% · China, Canada
• Languages at home: 95% English-only · Spanish 1% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Cape Girardeau

• 2024 margin: Solid R (+46.5) · D 26.2% · R 72.7% · Other 1.1%
• 2008→2024 swing: -12.9pp toward R · 2008: -33.6pp · 2024: -46.5pp
• All cycles: 2024: R+46.5 2020: R+45.0 2016: R+50.1 2012: R+43.8 2008: R+33.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -177.04%
• Current HPI: 156.0433
• Rent YoY: ▲ 3.27%
• Metro: Cape Girardeau, MO-IL
• 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

+106.4% since first listed

5 events — show timeline

• 2026-05-25 Listed $164,900 MARIS as Distributed by MLS Grid
• 2020-11-24 Sold (Public Records) — Public Records
• 2020-11-23 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2020-10-12 Pending — MARIS as Distributed by MLS Grid
• 2020-09-14 Listed $79,900 MARIS as Distributed by MLS Grid

Property tax history

+1.2%/yr

Latest (2025): $756 · +5.3% YoY. Source: county tax records.