513 N Old Hwy 63 · Columbia, MO 65201

$925,000

None bd · None ba · — sqft · MultiFamily · 1 Days on market

Built 1971 Poor condition

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +4.2/5.0
• Schools +3.1/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

9 1BR units at $480/mo and 3 2BR units at $580/mo for 12 total units. Well maintained building.

Key facts

• On site parking
• Close to campus
• Centrally located

Tags

• CENTRALLY LOCATED
• CLOSE TO CAMPUS
• CLOSE TO DOWNTOWN
• CLOSE TO STEPHENS PARK
• ON SITE COIN OPERATED WASHERS
• ON SITE PARKING

What this means for you Summary

Snapshot

• This is a multifamily listed at $925k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $7k ($79k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($16k rent vs $925k).
• Cap rate 14.8% 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: 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 at 33% FRL track the district average.
• Market conditions: Rents rising fast (+10.3%/yr); 355 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,303 units permitted in Boone County in 2024 (549 in 5+ unit buildings).
• At $16,436/mo this rent would consume 410% of the median local household income ($48k/yr) (locally 4323% 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 $6k of loan paydown is wiped out by about $28k 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 + 8.0% rent growth), your $259k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $925,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.78% ✓
• Cap rate: 14.84%
• Cash-on-cash: 30.54%
• DSCR: 2.36
• GRM: 4.7

CMA / ARV

No comps found within radius.

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4818 E Schooner Rd	0.34mi	—/—	3,068	6mo	$279,000	$91	67
4816 E Schooner Rd	0.37mi	—/—	3,074	17mo	$310,000	$101	56
4814 E Meadow Lark Lane A+b Ln	0.45mi	—/—	2,376	14mo	$235,000	$99	55
4824 E Prairie Cir Unit A+B	0.39mi	—/—	3,482	22mo	$295,900	$85	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 30.8%
• Equity multiple: 2.38×
• Total profit: $357,065
• Equity at exit: $137,921

10-year hold

• IRR: 40.7%
• Equity multiple: 5.82×
• Total profit: $1,247,890
• Equity at exit: $79,977

Cash invested: $259,000 (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 65201

• Rents YoY: 10.3%
• Active inventory: 355
• Price-to-rent: 61.2×

Monthly cashflow live

• Estimated rent: $16,436 medium
• Mortgage (P&I): −$4,851
• Tax est. 1.5%: −$1,156 /mo · $13,875/yr
• Insurance: −$385
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,452
• Net cashflow: $6,592

Break-even live

Break-even rent $8,092

Max offer price $925,000

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 9× units	1	1	$11,340
▸ 3× units	2	1	$5,100
Total (12 units)			$16,436

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: $231,250
• Closing costs: $27,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4500 Kentsfield Ln Columbia, MO	1.0–3.0	1.0–2.0	1238	$1,988	$1.60	13d	105	0.88mi
4005 Ledger DR Columbia, MO	1.0–2.0	1.0–2.0	914	$1,900	$2.08	13d	40	1.42mi

Listing history 3 events

1. 2026-04-24
   status Pending
2. 2026-04-23
   listed $925,000 Active
3. 2020-10-23
   soldstatus 95-char remark

   Show marketing remark (95 chars)

   9 1BR units at $480/mo and 3 2BR units at $580/mo for 12 total units. Well maintained building.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $197,232
• − Mortgage interest: −$51,814
• − Property taxes: −$13,875
• − Insurance: −$4,625
• − Repairs & maintenance: −$15,779
• − Management: −$15,779
• − Depreciation: −$26,909
• Taxable income: $68,451
• Est. tax owed @ 24.0%: −$16,428
• After-tax cash flow: $62,675/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.

Condition & rehab AI · 2 photos

Poor 20/100 Extensive rehab

This 12-unit apartment building requires extensive repairs and maintenance, including painting, roof repair, landscaping, and fencing. Immediate action is needed to improve the property's condition and value.

Repairs flagged

• Major exterior paint — Significant chipping and fading
• Major roof — Condition unknown, but weathered appearance suggests potential issues
• Major landscaping — Overgrown and unkempt
• Major fencing — Visible rust and damage

Value-add opportunities

• Both paint exterior — Fresh paint would improve curb appeal and property value
• Both repair roof — A new roof would significantly increase the property's value
• Both landscape — A well-maintained landscape would enhance curb appeal and attract tenants
• Both repair fencing — A sturdy and attractive fence would improve property value and security

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior paint · Significant chipping and fading	Major	$15,000–50,000
roof · Condition unknown, but weathered appearance suggests potential issues	Major	$15,000–50,000
landscaping · Overgrown and unkempt	Major	$15,000–50,000
fencing · Visible rust and damage	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both paint exterior — Fresh paint would improve curb appeal and property value ↑
• Both repair roof — A new roof would significantly increase the property's value ↑
• Both landscape — A well-maintained landscape would enhance curb appeal and attract tenants ↑
• Both repair fencing — A sturdy and attractive fence would improve property value and security ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• County: Boone County · 158,877 people
• City population: 158,877
• Metro: Columbia, MO
• Population (ZIP): 50,011
• Household income: $48,113
• Rent vs Own: 67.8% rent · 32.2% own
• Severe rent burden: 4323.0

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 (74%)
• Race & ethnicity: White 74% Black 8% Two or more races 7% Asian 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Italian 2% Romanian 2%
• Foreign-born: 9% · China, Canada, Vietnam
• Languages at home: 88% English-only · Spanish 4% Chinese 2% Other Indo-European 2%

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: ▼ -170.32%
• Current HPI: 195.2059
• Rent YoY: ▲ 10.33%
• 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

• 2026-04-24 Pending — CBORMLS
• 2026-04-23 Listed $925,000 CBORMLS
• 2020-10-23 Sold (MLS) — CBORMLS