2203 Vories St · St. Joseph, MO 64507

$79,000

3 bd · 1.0 ba · 972 sqft · SingleFamily public records · 78 Days on market

Built 1902 4,792 sqft lot $81/sqft · 23% below area Est $103k · 23% under

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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 +28.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity for homeowners and investors alike! Tucked away on a quiet street, this spacious home features hardwood floors throughout and a solid layout ready for your personal touch. Whether you're searching for a place to call home or your next project, this property offers incredible potential. The large attic provides an exciting opportunity to create a fourth bedroom, home office, or additional living space—adding both comfort and value. With the right updates, this home can truly shine for everyday living or as a long-term investment. An inspection report is available for review—bring your vision and unlock the full potential of this promising property!

Key facts

• 4,792 sq ft lot
• Built 1902
• Listed 77 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($936 rent vs $79k).
• Recommended offer: $74k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 4.7% in St. Joseph — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• St. Joseph (urban): math 28% / reading 38% proficiency, ranked #241 of 324 in MO (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 95 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 70 units permitted in Buchanan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Buchanan County population projected to shrink 6% 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 $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y 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.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1902 — 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. 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 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: 1.19% ✓
• Cap rate: 10.05%
• Cash-on-cash: 13.41%
• DSCR: 1.60
• GRM: 7.0

CMA / ARV

• ARV (median comp): $102,613
• List price: $79,000
• Delta: -23.01%
• 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
2101 Penn St	0.54mi	3/1.0	988 (+2%)	2mo	$134,900	$137	70
1501 Pacific St	0.45mi	2/1.0 (-1)	936 (-4%)	2mo	$79,900	$85	66
2812 Doniphan Ave	0.57mi	3/1.0	996 (+2%)	7mo	$134,700	$135	64
2301 Atchison St	0.49mi	2/1.0 (-1)	914 (-6%)	2mo	$144,900	$159	61
1018 S 20th St	0.63mi	2/1.0 (-1)	989 (+2%)	3mo	$35,000	$35	60
1321 S 17th St	0.50mi	2/1.0 (-1)	1,040 (+7%)	1mo	$55,000	$53	59
2810 Oak St	0.64mi	2/1.5 (-1)	936 (-4%)	0mo	$79,000	$84	57
1409 Pacific St	0.48mi	2/1.0 (-1)	896 (-8%)	6mo	$112,067	$125	54
1202 S 26th St	0.57mi	2/1.0 (-1)	1,040 (+7%)	5mo	$149,900	$144	53
2510 S 19th St	0.47mi	2/1.0 (-1)	863 (-11%)	6mo	$42,000	$49	50
2502 S 15th St	0.60mi	2/1.0 (-1)	826 (-15%)	2mo	$56,000	$68	40
2814 Mitchell Ave	0.69mi	2/1.0 (-1)	1,080 (+11%)	6mo	$134,900	$125	40

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.4%
• Equity multiple: 1.13×
• Total profit: $2,918
• Equity at exit: $11,779

10-year hold

• IRR: 12.9%
• Equity multiple: 2.03×
• Total profit: $22,731
• Equity at exit: $6,830

Cash invested: $22,120 (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 64507

• Active inventory: 95
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $936 high
• Mortgage (P&I): −$414
• Tax from tax record: −$45 /mo · $546/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $247

Break-even live

Break-even rent $624

Max offer price $79,000

Occupancy floor 69%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2219 S 10th St Saint Joseph, MO	2.0	1.0	800	$900	$1.12	43d	1	0.75mi
1300 S 11th St Apt 22 St Joseph, MO	2.0	1.0	866	$998	$1.15	43d	1	0.81mi
1106 Olive St Saint Joseph, MO	2.0	1.0	700	$725	$1.04	43d	1	0.95mi
303 S 13th St St Joseph, MO	3.0	1.5	1000	$950	$0.95	43d	1	1.21mi
2408 Jules St Saint Joseph, MO	2.0	1.0	1032	$1,100	$1.07	43d	1	1.33mi
201 S 10th St Saint Joseph, MO	2.0	1.0	600	$1,000	$1.67	43d	1	1.35mi
3128 Midland St Saint Joseph, MO	2.0	1.0	1104	$975	$0.88	43d	1	1.36mi
425 N 25th St St Joseph, MO	2.0	1.0	800	$850	$1.06	43d	1	1.47mi

Listing history 37 events

1. 2026-06-19
   days on market $79,000 Active 78 DOM
2. 2026-06-18
   days on market $79,000 Active 77 DOM
3. 2026-06-17
   days on market $79,000 Active 76 DOM
4. 2026-06-16
   days on market $79,000 Active 75 DOM
5. 2026-06-15
   days on market $79,000 Active 74 DOM
6. 2026-06-14
   days on market $79,000 Active 72 DOM
7. 2026-06-12
   days on market $79,000 Active 71 DOM
8. 2026-06-09
   days on market $79,000 Active 68 DOM
9. 2026-06-08
   days on market $79,000 Active 67 DOM
10. 2026-06-07
    days on market $79,000 Active 66 DOM
11. 2026-06-03
    days on market $79,000 Active 62 DOM
12. 2026-06-02
    days on market $79,000 Active 61 DOM
13. 2026-06-01
    days on market $79,000 Active 60 DOM
14. 2026-05-31
    days on market $79,000 Active 59 DOM
15. 2026-05-30
    days on market $79,000 Active 58 DOM
16. 2026-04-29
    price $79,000 685-char remark

    Show marketing remark (685 chars)

    Great opportunity for homeowners and investors alike! Tucked away on a quiet street, this spacious home features hardwood floors throughout and a solid layout ready for your personal touch. Whether you're searching for a place to call home or your next project, this property offers incredible potential. The large attic provides an exciting opportunity to create a fourth bedroom, home office, or additional living space—adding both comfort and value. With the right updates, this home can truly shine for everyday living or as a long-term investment. An inspection report is available for review—bring your vision and unlock the full potential of this promising property!

17. 2026-04-03
    listed $82,500 Active 685-char remark

    Show marketing remark (685 chars)

    Great opportunity for homeowners and investors alike! Tucked away on a quiet street, this spacious home features hardwood floors throughout and a solid layout ready for your personal touch. Whether you're searching for a place to call home or your next project, this property offers incredible potential. The large attic provides an exciting opportunity to create a fourth bedroom, home office, or additional living space—adding both comfort and value. With the right updates, this home can truly shine for everyday living or as a long-term investment. An inspection report is available for review—bring your vision and unlock the full potential of this promising property!

18. 2026-04-03
    historical $82,500 685-char remark

    Show marketing remark (685 chars)

    Great opportunity for homeowners and investors alike! Tucked away on a quiet street, this spacious home features hardwood floors throughout and a solid layout ready for your personal touch. Whether you're searching for a place to call home or your next project, this property offers incredible potential. The large attic provides an exciting opportunity to create a fourth bedroom, home office, or additional living space—adding both comfort and value. With the right updates, this home can truly shine for everyday living or as a long-term investment. An inspection report is available for review—bring your vision and unlock the full potential of this promising property!

19. 2025-12-13
    historical
20. 2025-11-20
    price $85,000
21. 2025-11-19
    status Active
22. 2025-11-10
    historical Active Under Contract
23. 2025-08-05
    status Active
24. 2025-06-09
    historical Active Under Contract
25. 2025-06-02
    listed $90,000 Active
26. 2024-09-22
    historical
27. 2024-07-15
    listed $85,000 Active
28. 2024-07-08
    historical
29. 2024-03-19
    price $90,000
30. 2024-01-08
    listed $95,000 Active
31. 2023-12-31
    historical
32. 2023-11-06
    price $90,000
33. 2023-11-06
    price $85,000
34. 2023-11-06
    price $90,000
35. 2023-08-30
    listed $95,000 Active
36. 2009-11-17
    soldstatus
37. 2006-09-25
    listed $50,000

ⓘ 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: $546 · $45/mo
• Projected year-2 tax: $766 · $64/mo
• Expected delta: +$221/yr (+$18/mo · 40.5%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,237
• − Mortgage interest: −$4,425
• − Property taxes: −$546
• − Insurance: −$395
• − Repairs & maintenance: −$899
• − Management: −$899
• − Depreciation: −$2,298
• Taxable income: $1,775
• Est. tax owed @ 24.0%: −$426
• After-tax cash flow: $2,539/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: St. Joseph
• NCES district ID: 2927060
• Math proficiency: 28% ▼ -6.00%
• Reading proficiency: 38% ▼ -1.00%
• Median HH income: $43,007
• Composite: 27.99/100
• National rank: #6853
• State rank: #241 of 324 in MO

Livability — St. Joseph

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Joseph, MO
• City population: 44,382
• Population (ZIP): 14,159

Population outlook (Buchanan County) Hauer SSP2

• Today (2025): 89,041 people
• By 2030: 88,401 · -0.7%
• By 2040: 86,220 · -3.2%
• By 2050: 83,603 · -6.1%
• By 2075: 76,750 · -13.8%
• By 2100: 67,623 · -24.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 8% Two or more races 7% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Buchanan

• 2024 margin: Strong R (+28.0) · D 35.2% · R 63.3% · Other 1.5%
• 2008→2024 swing: -28.2pp toward R · 2008: 0.1pp · 2024: -28.0pp
• All cycles: 2024: R+28.0 2020: R+24.6 2016: R+26.2 2012: R+8.7 2008: D+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.49%
• Current HPI: 165.1511
• 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

+58.0% since first listed

22 events — show timeline

• 2026-04-29 Price Changed $79,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-03 Listed $82,500 Heartland MLS as Distributed by MLS Grid
• 2026-04-03 Coming Soon $82,500 Heartland MLS as Distributed by MLS Grid
• 2025-12-13 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2025-11-20 Price Changed $85,000 Heartland MLS as Distributed by MLS Grid
• 2025-11-19 Relisted — Heartland MLS as Distributed by MLS Grid
• 2025-11-10 Contingent — Heartland MLS as Distributed by MLS Grid
• 2025-08-05 Relisted — Heartland MLS as Distributed by MLS Grid
• 2025-06-09 Contingent — Heartland MLS as Distributed by MLS Grid
• 2025-06-02 Listed $90,000 Heartland MLS as Distributed by MLS Grid
• 2024-09-22 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2024-07-15 Listed $85,000 Heartland MLS as Distributed by MLS Grid
• 2024-07-08 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2024-03-19 Price Changed $90,000 Heartland MLS as Distributed by MLS Grid
• 2024-01-08 Listed $95,000 Heartland MLS as Distributed by MLS Grid
• 2023-12-31 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2023-11-06 Price Changed $90,000 Heartland MLS as Distributed by MLS Grid
• 2023-11-06 Price Changed $85,000 Heartland MLS as Distributed by MLS Grid
• 2023-11-06 Price Changed $90,000 Heartland MLS as Distributed by MLS Grid
• 2023-08-30 Listed $95,000 Heartland MLS as Distributed by MLS Grid
• 2009-11-17 Sold (Public Records) — Public Records
• 2006-09-25 Listed $50,000 Heartland MLS as Distributed by MLS Grid

Property tax history

+1.5%/yr

Latest (2025): $546 · +5.7% YoY. Source: county tax records.