4311 Beulah Dr · Columbia, MO 65202

$150,000

4 bd · 2.0 ba · 1,500 sqft · MultiFamily public records · 1 Days on market

Built 1967

---

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 +26.4/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• 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

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

Right side (#102) was previously owner-occupied & Inclu W/ D, dishwasher, on-demand hot water, central HVAC, remodeled bath & kitchen w/ refin wood floors. Left side (#101) radiant heat/2 window A/C units. Water included and paid by seller (one meter-runs about $70 per month) Roof 5-10 years old

Key facts

• On demand hot water
• Central hvac
• Brand new w d

Tags

• INVESTMENT OPPORTUNITY
• CURRENT TENANTS IN LEASE
• BRAND NEW W D
• ON DEMAND HOT WATER
• CENTRAL HVAC
• REMODELED BATH

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $391 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 9.4% 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.

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.
• Market conditions: Rents rising fast (+6.0%/yr); 351 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% 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).

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.
• 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 + 6.0% rent growth), your $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 22y ago; this cycle's ask is 67% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $150,000

Questions for the listing agent

1. Built in 1967 — 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. 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?
4. 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?
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: 1.11% ✓
• Cap rate: 9.42%
• Cash-on-cash: 11.17%
• DSCR: 1.50
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.96% rent growth · sell at horizon

5-year hold

• IRR: 3.4%
• Equity multiple: 1.14×
• Total profit: $5,683
• Equity at exit: $22,365

10-year hold

• IRR: 15.4%
• Equity multiple: 2.41×
• Total profit: $59,193
• 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 65202

• Rents YoY: 6.0%
• Active inventory: 351
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,671 high
• Mortgage (P&I): −$787
• Tax from tax record: −$80 /mo · $954/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $391

Break-even live

Break-even rent $1,175

Max offer price $150,000

Occupancy floor 72%

Sensitivity live

Price	-10% $476	-5% $434	+0% $391	+5% $349	+10% $306
Rent	-10% $259	-5% $325	+0% $391	+5% $457	+10% $523
Rate	-1.0pp $467	-0.5pp $429	base $391	+0.5pp $352	+1.0pp $313

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: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4502 Waterloo Dr Unit A Columbia, MO	3.0	1.0	1050	$1,350	$1.29	45d	1	0.12mi
4612 Dehaven Dr Columbia, MO	4.0	3.0	1348	$1,575	$1.17	21d	1	0.30mi
4614 Dehaven Dr Columbia, MO	4.0	3.0	1348	$1,575	$1.17	44d	1	0.30mi
4618 Dehaven Dr Columbia, MO	4.0	3.0	1348	$1,575	$1.17	44d	1	0.31mi
2119 Ballenger Ln Columbia, MO	4.0	3.0	1402	$1,575	$1.12	44d	1	0.40mi
2117 Ballenger Ln Columbia, MO	4.0	3.0	1402	$1,575	$1.12	44d	1	0.40mi
5205 Gasconade Dr Columbia, MO	3.0	2.0	1400	$1,450	$1.04	44d	1	0.78mi
5318 Godas Cir Columbia, MO	5.0	2.0	1728	$1,875	$1.09	44d	1	0.98mi
5305 E Trikalla Dr Columbia, MO	4.0	2.0	1528	$1,525	$1.00	44d	1	1.06mi
5305 E Trikalla Dr Columbia, MO	4.0	2.0	1528	$1,525	$1.00	14d	1	1.06mi
1325 Godas Dr Columbia, MO	4.0	3.0	1458	$1,550	$1.06	44d	1	1.12mi
1323 Godas Cir Columbia, MO	4.0	3.0	1458	$1,550	$1.06	44d	1	1.12mi
5338-5340 E Trikalla Dr Columbia, MO	4.0	2.0	1528	$1,495	$0.98	14d	1	1.13mi
2504 Feldspar Ct Columbia, MO	3.0	2.0	1683	$2,000	$1.19	21d	1	1.15mi
1309 Godas Cir Unit 1309 Columbia, MO	4.0	2.0	1660	$1,575	$0.95	44d	1	1.15mi
1326 N Frideriki Dr Columbia, MO	4.0	2.0	1529	$1,525	$1.00	21d	1	1.15mi
1328 N Frideriki Dr Columbia, MO	4.0	2.0	1529	$1,475	$0.96	44d	1	1.16mi
1306 Godas Dr Columbia, MO	3.0	2.0	1550	$1,550	$1.00	44d	1	1.17mi
4901 Kirk Hill Rd Unit 4903 Columbia, MO	4.0	2.0	1422	$1,425	$1.00	14d	1	1.20mi
4901 Kirk Hill Rd Unit 4901 Columbia, MO	4.0	2.0	1422	$1,350	$0.95	44d	1	1.20mi
2301 Bitternut Dr Columbia, MO	3.0	2.0	1495	$1,850	$1.24	14d	1	1.30mi
2800 Mexico Gravel Rd Unit A Columbia, MO	3.0	1.5	1313	$1,375	$1.05	21d	1	1.31mi
2401 Calico Ln Unit 2401 Columbia, MO	3.0	1.0	1050	$1,300	$1.24	44d	1	1.32mi
2403 Calico Ln Columbia, MO	3.0	1.0	1050	$1,300	$1.24	21d	1	1.32mi
5909 Kelsey Dr Columbia, MO	3.0	2.0	1372	$1,800	$1.31	44d	1	1.39mi

Listing history 7 events

1. 2026-05-01
   soldstatus
2. 2022-06-13
   soldstatus
3. 2018-06-27
   soldstatus
4. 2018-06-26
   soldstatus 308-char remark

   Show marketing remark (308 chars)

   Right side (#102) was previously owner-occupied & Inclu W/ D, dishwasher, on-demand hot water, central HVAC, remodeled bath & kitchen w/ refin wood floors. Left side (#101) radiant heat/2 window A/C units. Water included and paid by seller (one meter-runs about $70 per month) Roof 5-10 years old

5. 2017-12-22
   listed $89,900 308-char remark

   Show marketing remark (308 chars)

   Right side (#102) was previously owner-occupied & Inclu W/ D, dishwasher, on-demand hot water, central HVAC, remodeled bath & kitchen w/ refin wood floors. Left side (#101) radiant heat/2 window A/C units. Water included and paid by seller (one meter-runs about $70 per month) Roof 5-10 years old

6. 2004-07-22
   soldstatus 200-char remark

   Show marketing remark (200 chars)

   GREAT MAINTENANCE HISTORY OWNER BUILDER RT SIDE A IS VACANT APPX 750` PER SIDE ROOF 5 YRS OLD GRANDFATHERED R2 IF BURNS TO THE GROUND ZONING CHANGES TO R1 30 GAL GAS WATER HEATER NO DISCLOSURE 2/1 2/1

7. 2004-04-01
   listed $62,900 200-char remark

   Show marketing remark (200 chars)

   GREAT MAINTENANCE HISTORY OWNER BUILDER RT SIDE A IS VACANT APPX 750` PER SIDE ROOF 5 YRS OLD GRANDFATHERED R2 IF BURNS TO THE GROUND ZONING CHANGES TO R1 30 GAL GAS WATER HEATER NO DISCLOSURE 2/1 2/1

ⓘ 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: $954 · $80/mo
• Projected year-2 tax: $1,455 · $121/mo
• Expected delta: +$501/yr (+$42/mo · 52.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°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: $20,046
• − Mortgage interest: −$8,402
• − Property taxes: −$954
• − Insurance: −$750
• − Repairs & maintenance: −$1,604
• − Management: −$1,604
• − Depreciation: −$4,364
• Taxable income: $2,369
• Est. tax owed @ 24.0%: −$569
• After-tax cash flow: $4,125/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): 47,327
• Household income: $72,289
• Rent vs Own: 36.8% rent · 63.2% own
• Severe rent burden: 1326.0

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 (68%)
• Race & ethnicity: White 68% Black 16% Two or more races 8% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 2% Italian 2% Slovak 2%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 3% Other Asian/Pacific 1% French/Haitian/Cajun 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: ▼ -171.32%
• Current HPI: 205.5154
• Rent YoY: ▲ 5.96%
• 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

+42.9% since first listed

7 events — show timeline

• 2026-05-01 Sold (Public Records) — Public Records
• 2022-06-13 Sold (Public Records) — Public Records
• 2018-06-27 Sold (Public Records) — Public Records
• 2018-06-26 Sold (MLS) — CBORMLS
• 2017-12-22 Listed $89,900 CBORMLS
• 2004-07-22 Sold (MLS) — CBORMLS
• 2004-04-01 Listed $62,900 CBORMLS

Property tax history

+3.4%/yr

Latest (2025): $954 · +6.8% YoY. Source: county tax records.