32 N Ellis St · Cape Girardeau, MO 63701

$45,000

4 bd · 2.0 ba · 1,205 sqft · SingleFamily public records · 157 Days on market

Built 1880 3,484 sqft lot $37/sqft · 56% below area

---

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 +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

Historic property dating back to circa 1880, offering a rare opportunity for restoration and redevelopment in a C-1 General Commercial zoning district. This home is rich with local history — it was once the only house along the driveway leading to the end of Ellis Street and was previously owned by Fred Groves, founder of Ford Groves, adding to its unique story and character. Inside, the property features beautiful original brick walls, a full utility basement, and significant recent electrical upgrades including a new electrical mast, new electrical box, and 200-amp service. A covered carport provides protected parking. There was previously a studio-style space upstairs; however, it cannot currently be represented as a dwelling unit due to lack of access. Buyer to verify potential future use. This is a condemned property and will require the buyer to work closely with the City to complete required repairs and approvals. Property is being sold AS-IS. This property presents an excellent opportunity for restoration, adaptive reuse, or commercial redevelopment for a buyer who appreciates history and vision. Buyer to perform all due diligence and independently verify all information with the City prior to closing.

Key facts

• Historic property
• Covered carport
• Original brick walls

Tags

• HISTORIC PROPERTY
• C-1 GENERAL COMMERCIAL ZONING
• ORIGINAL BRICK WALLS
• FULL UTILITY BASEMENT
• RECENT ELECTRICAL UPGRADES
• COVERED CARPORT

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $901 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 30.3% 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: schools C-, employment D+, crime 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.
• Market conditions: Rents rising (+3.3%/yr); 326 active listings in the ZIP; 1 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 $311 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.3% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 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 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 3.31% ✓
• Cap rate: 30.33%
• Cash-on-cash: 85.84%
• DSCR: 4.82
• GRM: 2.5

CMA / ARV

• ARV (median comp): $111,120
• List price: $45,000
• Delta: -59.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 S Pacific St	0.21mi	3/1.0 (-1)	1,200 (-0%)	0mo	$105,000	$88	80
409 North St	0.41mi	4/1.0	1,215 (+1%)	4mo	$75,000	$62	72
212 S Missouri St	0.67mi	4/2.0	1,204 (-0%)	10mo	$169,900	$141	61
1018 William St	0.35mi	3/1.0 (-1)	1,245 (+3%)	11mo	$99,800	$80	59
133 S Park Ave	0.45mi	3/1.0 (-1)	1,168 (-3%)	6mo	$34,000	$29	59
1005 Jefferson Ave	0.61mi	4/1.0	1,187 (-2%)	10mo	$53,000	$45	56
926 William St	0.32mi	3/2.0 (-1)	1,075 (-11%)	8mo	$115,000	$107	56
455 Mason St	0.71mi	3/1.0 (-1)	1,200 (-0%)	6mo	$144,900	$121	52
121 N Park Ave	0.40mi	3/2.0 (-1)	1,048 (-13%)	11mo	$118,000	$113	45
1419 Themis St	0.51mi	3/1.0 (-1)	1,368 (+14%)	5mo	$154,900	$113	41
528 N Fountain St	0.60mi	3/1.0 (-1)	1,345 (+12%)	9mo	$65,000	$48	36
150 S Minnesota St	0.71mi	3/1.0 (-1)	1,375 (+14%)	11mo	$159,900	$116	25

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: 86.6%
• Equity multiple: 5.01×
• Total profit: $50,519
• Equity at exit: $6,710

10-year hold

• IRR: 89.8%
• Equity multiple: 10.49×
• Total profit: $119,591
• Equity at exit: $3,891

Cash invested: $12,600 (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: 2.5×

Monthly cashflow live

• Estimated rent: $1,492 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$22 /mo · $269/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $901

Break-even live

Break-even rent $351

Max offer price $45,000

Occupancy floor 35%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	0.55mi

Listing history 19 events

1. 2026-06-19
   days on market $45,000 Active 157 DOM
2. 2026-06-18
   days on market $45,000 Active 156 DOM
3. 2026-06-17
   days on market $45,000 Active 155 DOM
4. 2026-06-16
   days on market $45,000 Active 154 DOM
5. 2026-06-15
   days on market $45,000 Active 153 DOM
6. 2026-06-14
   days on market $45,000 Active 151 DOM
7. 2026-06-13
   days on market $45,000 Active 150 DOM
8. 2026-06-10
   days on market $45,000 Active 148 DOM
9. 2026-06-09
   days on market $45,000 Active 147 DOM
10. 2026-06-08
    days on market $45,000 Active 146 DOM
11. 2026-06-07
    days on market $45,000 Active 145 DOM
12. 2026-06-05
    days on market $45,000 Active 142 DOM
13. 2026-06-03
    days on market $45,000 Active 141 DOM
14. 2026-06-02
    days on market $45,000 Active 140 DOM
15. 2026-06-01
    days on market $45,000 Active 139 DOM
16. 2026-05-31
    days on market $45,000 Active 138 DOM
17. 2026-05-30
    days on market $45,000 Active 137 DOM
18. 2026-05-01
    status Active 1237-char remark

    Show marketing remark (1237 chars)

    Historic property dating back to circa 1880, offering a rare opportunity for restoration and redevelopment in a C-1 General Commercial zoning district. This home is rich with local history — it was once the only house along the driveway leading to the end of Ellis Street and was previously owned by Fred Groves, founder of Ford Groves, adding to its unique story and character. Inside, the property features beautiful original brick walls, a full utility basement, and significant recent electrical upgrades including a new electrical mast, new electrical box, and 200-amp service. A covered carport provides protected parking. There was previously a studio-style space upstairs; however, it cannot currently be represented as a dwelling unit due to lack of access. Buyer to verify potential future use. This is a condemned property and will require the buyer to work closely with the City to complete required repairs and approvals. Property is being sold AS-IS. This property presents an excellent opportunity for restoration, adaptive reuse, or commercial redevelopment for a buyer who appreciates history and vision. Buyer to perform all due diligence and independently verify all information with the City prior to closing.

19. 2026-01-12
    listed $45,000 Active 1237-char remark

    Show marketing remark (1237 chars)

    Historic property dating back to circa 1880, offering a rare opportunity for restoration and redevelopment in a C-1 General Commercial zoning district. This home is rich with local history — it was once the only house along the driveway leading to the end of Ellis Street and was previously owned by Fred Groves, founder of Ford Groves, adding to its unique story and character. Inside, the property features beautiful original brick walls, a full utility basement, and significant recent electrical upgrades including a new electrical mast, new electrical box, and 200-amp service. A covered carport provides protected parking. There was previously a studio-style space upstairs; however, it cannot currently be represented as a dwelling unit due to lack of access. Buyer to verify potential future use. This is a condemned property and will require the buyer to work closely with the City to complete required repairs and approvals. Property is being sold AS-IS. This property presents an excellent opportunity for restoration, adaptive reuse, or commercial redevelopment for a buyer who appreciates history and vision. Buyer to perform all due diligence and independently verify all information with the City prior to closing.

ⓘ 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: $269 · $22/mo
• Projected year-2 tax: $436 · $36/mo
• Expected delta: +$168/yr (+$14/mo · 62.3%)

ⓘ 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 6/10 Major 7 d/yr ≥108°F today · 22 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: $17,900
• − Mortgage interest: −$2,521
• − Property taxes: −$269
• − Insurance: −$225
• − Repairs & maintenance: −$1,432
• − Management: −$1,432
• − Depreciation: −$1,309
• Taxable income: $10,712
• Est. tax owed @ 24.0%: −$2,571
• After-tax cash flow: $8,244/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

2 events — show timeline

• 2026-05-01 Relisted — MARIS as Distributed by MLS Grid
• 2026-01-12 Listed $45,000 MARIS as Distributed by MLS Grid

Property tax history

+1.2%/yr

Latest (2025): $269 · +5.3% YoY. Source: county tax records.