606 Washington St · Jefferson City, MO 65101

$278,500

4 bd · 4.0 ba · 2,830 sqft · MultiFamily public records · 170 Days on market

Built 1930 3,920 sqft lot

---

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
• Livability +4.2/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• 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: 4 units. confirmed

Listing remarks

Add this income-producing 4-plex to your investment portfolio. The property generates $2,925 in monthly rental income. Recently updated units are move in ready. All apartments could be utilized as one or two-bedroom units, offering added rental flexibility. Located in a desirable downtown area with excellent walkability and close proximity to shopping, dining, and local amenities, this property presents a strong opportunity to enhance your investment portfolio.

Key facts

• 3,920 sq ft lot
• 2 garage spots
• Built 1930

Property features AI

Finance

• Other: Approximately 2,830 total building area
• Financial info: Property operates as multi-unit residential income with multiple 1-bedroom rental units and listed rents for units

Exterior

• Parking: 2-car garage; Off-street parking and on-street parking available
• Security: No security features specified
• Utilities: Public water; Public sewer
• Home design: Residential income property
• Construction: Constructed with stone and vinyl siding
• Exterior features: Stone and vinyl siding exterior; C-2 zoning

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Multiple 1-bedroom units (each unit is 1 bedroom)
• Flooring: No flooring details provided
• Bathrooms: Four full bathrooms (total for property)
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: Updated/remodeled units; Basement with walk-up access; No fireplaces
• Laundry & utility: No laundry features specified

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $278k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $541/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $278k).
• Recommended offer: $245k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.6% 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.

Location & tenants

• 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.
• Market conditions: 189 active listings in the ZIP; 173 units permitted in Cole County in 2024 (0 in 5+ unit buildings).

Forward outlook

• 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.
• Cole County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $78k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 170 days — a 12% lower offer ($245k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y ago; this cycle's ask has dropped $16k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $245,080 (12.0% below list)

Questions for the listing agent

1. It's been on market 170 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.74% ✓
• Cap rate: 15.62%
• Cash-on-cash: 33.31%
• DSCR: 2.48
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 28.5%
• Equity multiple: 2.19×
• Total profit: $92,647
• Equity at exit: $41,525

10-year hold

• IRR: 35.9%
• Equity multiple: 4.31×
• Total profit: $257,850
• Equity at exit: $24,080

Cash invested: $77,980 (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 65101

• Home prices YoY: -29.1%
• Active inventory: 189
• Price-to-rent: 19.1×

Monthly cashflow live

• Estimated rent: $4,852 medium
• Mortgage (P&I): −$1,460
• Tax from tax record: −$92 /mo · $1,104/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,019
• Net cashflow: $2,165

Break-even live

Break-even rent $2,112

Max offer price $278,500

Occupancy floor 50%

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$4,852
Total (4 units)			$4,852

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: $69,625
• Closing costs: $8,355
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-19
   days on market $278,500 Active 170 DOM
2. 2026-06-18
   days on market $278,500 Active 169 DOM
3. 2026-06-17
   days on market $278,500 Active 168 DOM
4. 2026-06-16
   days on market $278,500 Active 167 DOM
5. 2026-06-15
   days on market $278,500 Active 166 DOM
6. 2026-06-14
   days on market $278,500 Active 164 DOM
7. 2026-06-13
   days on market $278,500 Active 163 DOM
8. 2026-06-10
   days on market $278,500 Active 161 DOM
9. 2026-06-09
   days on market $278,500 Active 160 DOM
10. 2026-06-08
    days on market $278,500 Active 159 DOM
11. 2026-06-07
    days on market $278,500 Active 158 DOM
12. 2026-06-05
    days on market $278,500 Active 155 DOM
13. 2026-06-03
    days on market $278,500 Active 154 DOM
14. 2026-06-02
    days on market $278,500 Active 153 DOM
15. 2026-06-01
    days on market $278,500 Active 152 DOM
16. 2026-05-31
    days on market $278,500 Active 151 DOM
17. 2026-05-30
    days on market $278,500 Active 150 DOM
18. 2026-04-29
    price $278,500
19. 2026-01-22
    price $285,000
20. 2025-12-29
    listed $295,000 Active
21. 2024-07-19
    soldstatus Closed
22. 2024-07-19
    soldstatus
23. 2024-06-25
    historical
24. 2024-06-22
    listed $260,000
25. 2023-04-26
    price $229,900
26. 2023-03-09
    price $234,900
27. 2022-02-16
    price $595
28. 2021-12-07
    soldstatus
29. 2021-12-07
    soldstatus
30. 2021-12-07
    soldstatus
31. 2021-11-03
    listed $164,900
32. 2015-12-08
    soldstatus
33. 2015-09-07
    listed $69,900
34. 2014-01-24
    soldstatus
35. 2013-03-01
    listed $95,000

ⓘ 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: $1,104 · $92/mo
• Projected year-2 tax: $2,701 · $225/mo
• Expected delta: +$1,597/yr (+$133/mo · 144.6%)

ⓘ 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 ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $58,224
• − Mortgage interest: −$15,600
• − Property taxes: −$1,104
• − Insurance: −$1,392
• − Repairs & maintenance: −$4,658
• − Management: −$4,658
• − Depreciation: −$8,102
• Taxable income: $22,709
• Est. tax owed @ 24.0%: −$5,450
• After-tax cash flow: $20,524/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: Jefferson City
• NCES district ID: 2916190
• Math proficiency: 34% ▼ -1.00%
• Reading proficiency: 48% ▲ 5.00%
• Median HH income: $51,903
• Composite: 35.45/100
• National rank: #4930
• State rank: #121 of 324 in MO

Livability — Jefferson City

• Score: 83/100
• State rank: #7
• US rank: #838

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jefferson City, MO
• City population: 41,145
• Population (ZIP): 29,777

Population outlook (Cole County) Hauer SSP2

• Today (2025): 78,107 people
• By 2030: 78,089 · +-0.0%
• By 2040: 76,814 · -1.7%
• By 2050: 74,515 · -4.6%
• By 2075: 67,687 · -13.3%
• By 2100: 55,023 · -29.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 19% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Cole

• 2024 margin: Solid R (+34.4) · D 32.1% · R 66.5% · Other 1.4%
• 2008→2024 swing: -7.5pp toward R · 2008: -26.9pp · 2024: -34.4pp
• All cycles: 2024: R+34.4 2020: R+33.9 2016: R+36.8 2012: R+33.7 2008: R+26.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -86.16%
• Current HPI: 209.3832
• Rent YoY: —
• Metro: —
• 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

+193.2% since first listed

18 events — show timeline

• 2026-04-29 Price Changed $278,500 JCMLS
• 2026-01-22 Price Changed $285,000 JCMLS
• 2025-12-29 Listed $295,000 JCMLS
• 2024-07-19 Sold (Public Records) — Public Records
• 2024-07-19 Sold (MLS) — JCMLS
• 2024-06-25 Delisted — JCMLS
• 2024-06-22 Listed $260,000 JCMLS
• 2023-04-26 Price Changed $229,900 JCMLS
• 2023-03-09 Price Changed $234,900 JCMLS
• 2022-02-16 Price Changed $595 RENT.
• 2021-12-07 Sold (Public Records) — Public Records
• 2021-12-07 Sold (MLS) — JCMLS
• 2021-12-07 Sold (MLS) — CBORMLS
• 2021-11-03 Listed $164,900 JCMLS
• 2015-12-08 Sold (MLS) — JCMLS
• 2015-09-07 Listed $69,900 JCMLS
• 2014-01-24 Sold (MLS) — JCMLS
• 2013-03-01 Listed $95,000 JCMLS

Property tax history

+1.4%/yr

Latest (2025): $1,104 · +4.8% YoY. Source: county tax records.