812 Broadway St

Jefferson City, MO 65101

$280,000F

4 bd · 4.0 ba · 2,030 sqft · Built 1955 · MultiFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,100/mo
• Mortgage (P&I): −$1,468
• Tax + insurance: −$467
• HOA: −$0
• Vac / Maint / Mgmt: −$441
• Net cashflow: $-276/mo
• Annual: $-3,312/yr
• Cap rate: 5.11%
• Cash-on-cash: -4.22%
• DSCR: 0.81
• 1% rule: 0.75%
• Cash to close: $78,400

Investor read

• This is a 4 × 1-bed/1.0-bath units multifamily listed at $280k.
• At list price, monthly cash flow is $-276 ($-3k/yr) — negative. Per door: $-69/mo.
• To cash-flow at today's rent, offer at most $240k (14.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (25.0% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $210k (25.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• 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.
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 189 active listings in the ZIP; 173 units permitted in Cole County in 2024 (0 in 5+ unit buildings).
• Cole County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 6 sale attempts since 9y 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 5.1% 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1955 — 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?
• 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.