2531 Alabama Ave · Joplin, MO 64804

$220,000

4 bd · 3.0 ba · 1,648 sqft · Other · 353 Days on market

Built 1963

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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 +19.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• Rent growth +5.0/5.0
• 1% rule +3.9/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in ready! Corner lot, 4 bedrooms, 3 bath and is located in south central Joplin. Brand New roof, new HVAC in 2023, brand new carpet, new paint, new dishwasher, new vapor barrier in crawl space and in-ground storm shelter. Refrigerator also conveys. Schedule a showing today!

Key facts

• Built 1963
• Listed 353 days

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public sewer
• Home design: Single-family residence; One story; Residential, freestanding
• Construction: Vinyl siding and brick exterior; Block foundation; Asphalt/composition roof; Built as single-family freestanding home
• Exterior features: Patio; Porch; Chain-link fence; Corner lot; Shed(s)/outdoor storage

Interior

• Kitchen: Gas range; Refrigerator; Microwave; Disposal; Dishwasher
• Flooring: Carpet; Ceramic tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Natural gas heating; Central heating; Central air conditioning
• Interior features: Eat-in kitchen; 6 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath other listed at $220k.

Deal economics

• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (11.2% below list).
• Recommended offer: $194k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 5.1% in Joplin — 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 (#318 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Joplin Schools (urban): math 30% / reading 39% proficiency, ranked #231 of 324 in MO (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eastmorland Elem. (math 37% / reading 42%, grade F, #537 of 1,115 statewide, top 53%, 244 students, 68% FRL); East Middle (math 22% / reading 40%, grade F, #279 of 391 statewide, top 72%, 597 students, 66% FRL); Joplin High (math 32% / reading 46%, grade F, #287 of 521 statewide, top 55%, 2,233 students, 50% FRL).
• Market conditions: Rents rising fast (+15.7%/yr); 355 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 602 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $62k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 353 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 13y 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

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 353 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 1963 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 0.89% ✗
• Cap rate: 7.60%
• Cash-on-cash: 4.68%
• DSCR: 1.21
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -4.2%
• Equity multiple: 0.84×
• Total profit: $-10,135
• Equity at exit: $32,803

10-year hold

• IRR: 10.0%
• Equity multiple: 1.93×
• Total profit: $57,426
• Equity at exit: $19,022

Cash invested: $61,600 (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 64804

• Rents YoY: 15.7%
• Active inventory: 355
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,953 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$57 /mo · $689/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $240

Break-even live

Break-even rent $1,649

Max offer price $220,000

Occupancy floor 83%

Sensitivity live

Price	-10% $365	-5% $302	+0% $240	+5% $178	+10% $116
Rent	-10% $86	-5% $163	+0% $240	+5% $317	+10% $394
Rate	-1.0pp $351	-0.5pp $296	base $240	+0.5pp $183	+1.0pp $125

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2114 S Patterson Ave Joplin, MO	3.0	2.0	1715	$1,700	$0.99	22d	1	0.41mi
2528 E 15th St Joplin, MO	3.0	2.5	1800	$2,750	$1.53	22d	1	0.83mi
2811 E 15th St Joplin, MO	3.0	1.5	1500	$1,500	$1.00	22d	1	0.90mi
2517 Ohio Ave Joplin, MO	3.0	2.0	1503	$1,695	$1.13	22d	1	1.09mi

Listing history 36 events

1. 2026-06-21
   days on market $220,000 Active 353 DOM
2. 2026-06-19
   days on market $220,000 Active 351 DOM
3. 2026-06-18
   days on market $220,000 Active 350 DOM
4. 2026-06-17
   days on market $220,000 Active 349 DOM
5. 2026-06-16
   days on market $220,000 Active 348 DOM
6. 2026-06-15
   days on market $220,000 Active 347 DOM
7. 2026-06-14
   days on market $220,000 Active 345 DOM
8. 2026-06-13
   days on market $220,000 Active 344 DOM
9. 2026-06-10
   days on market $220,000 Active 342 DOM
10. 2026-06-09
    days on market $220,000 Active 341 DOM
11. 2026-06-08
    days on market $220,000 Active 340 DOM
12. 2026-06-07
    days on market $220,000 Active 339 DOM
13. 2026-06-05
    days on market $220,000 Active 336 DOM
14. 2026-06-03
    days on market $220,000 Active 335 DOM
15. 2026-06-02
    days on market $220,000 Active 334 DOM
16. 2026-06-01
    days on market $220,000 Active 333 DOM
17. 2026-05-31
    days on market $220,000 Active 332 DOM
18. 2026-05-30
    days on market $220,000 Active 331 DOM
19. 2025-07-03
    listed $220,000 Active
20. 2024-06-24
    soldstatus
21. 2024-06-21
    soldstatus Closed 280-char remark

    Show marketing remark (280 chars)

    Move in ready! Corner lot, 4 bedrooms, 3 bath and is located in south central Joplin. Brand New roof, new HVAC in 2023, brand new carpet, new paint, new dishwasher, new vapor barrier in crawl space and in-ground storm shelter. Refrigerator also conveys. Schedule a showing today!

22. 2024-05-29
    status Pending 280-char remark

    Show marketing remark (280 chars)

    Move in ready! Corner lot, 4 bedrooms, 3 bath and is located in south central Joplin. Brand New roof, new HVAC in 2023, brand new carpet, new paint, new dishwasher, new vapor barrier in crawl space and in-ground storm shelter. Refrigerator also conveys. Schedule a showing today!

23. 2024-05-13
    price $221,700 280-char remark

    Show marketing remark (280 chars)

    Move in ready! Corner lot, 4 bedrooms, 3 bath and is located in south central Joplin. Brand New roof, new HVAC in 2023, brand new carpet, new paint, new dishwasher, new vapor barrier in crawl space and in-ground storm shelter. Refrigerator also conveys. Schedule a showing today!

24. 2024-04-07
    price $230,000 280-char remark

    Show marketing remark (280 chars)

    Move in ready! Corner lot, 4 bedrooms, 3 bath and is located in south central Joplin. Brand New roof, new HVAC in 2023, brand new carpet, new paint, new dishwasher, new vapor barrier in crawl space and in-ground storm shelter. Refrigerator also conveys. Schedule a showing today!

25. 2024-03-29
    listed $240,000 Active 280-char remark

    Show marketing remark (280 chars)

    Move in ready! Corner lot, 4 bedrooms, 3 bath and is located in south central Joplin. Brand New roof, new HVAC in 2023, brand new carpet, new paint, new dishwasher, new vapor barrier in crawl space and in-ground storm shelter. Refrigerator also conveys. Schedule a showing today!

26. 2020-02-04
    soldstatus 224-char remark

    Show marketing remark (224 chars)

    Spacious four bedroom home with three baths for less than $100,000!! Open kitchen with plenty of cabinets and room for an island. Large lot with fenced back yard, two storage buildings and a storm shelter! Call to see today!

27. 2020-02-04
    soldstatus

    Show marketing remark (224 chars)

    Spacious four bedroom home with three baths for less than $100,000!! Open kitchen with plenty of cabinets and room for an island. Large lot with fenced back yard, two storage buildings and a storm shelter! Call to see today!

28. 2020-02-04
    soldstatus

    Show marketing remark (224 chars)

    Spacious four bedroom home with three baths for less than $100,000!! Open kitchen with plenty of cabinets and room for an island. Large lot with fenced back yard, two storage buildings and a storm shelter! Call to see today!

29. 2019-12-11
    listed $99,500
30. 2019-12-10
    listed $99,500 224-char remark

    Show marketing remark (224 chars)

    Spacious four bedroom home with three baths for less than $100,000!! Open kitchen with plenty of cabinets and room for an island. Large lot with fenced back yard, two storage buildings and a storm shelter! Call to see today!

31. 2015-06-16
    soldstatus
32. 2014-11-24
    listed $128,000
33. 2014-07-23
    soldstatus
34. 2013-11-21
    listed $59,900
35. 2007-12-18
    soldstatus
36. 1996-03-05
    soldstatus

ⓘ 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: $689 · $57/mo
• Projected year-2 tax: $2,134 · $178/mo
• Expected delta: +$1,445/yr (+$120/mo · 209.9%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,437
• − Mortgage interest: −$12,323
• − Property taxes: −$689
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,875
• − Management: −$1,875
• − Depreciation: −$6,400
• Taxable loss: −$825
• Est. tax savings @ 24.0%: +$198
• After-tax cash flow: $3,080/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: Joplin Schools
• NCES district ID: 2916350
• Math proficiency: 30% ▼ -3.00%
• Reading proficiency: 39% ▼ -3.00%
• Median HH income: $38,648
• Composite: 28.82/100
• National rank: #6657
• State rank: #231 of 324 in MO

Livability — Joplin

• Score: 64/100
• State rank: #318
• US rank: #14578

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Joplin, MO
• County: Newton County · 37,016 people
• City population: 73,303
• Metro: Joplin, MO
• Population (ZIP): 37,016
• Household income: $62,574
• Rent vs Own: 32.6% rent · 67.4% own
• Severe rent burden: 1082.0

Population outlook (Jasper County) Hauer SSP2

• Today (2025): 120,033 people
• By 2030: 120,091 · +0.0%
• By 2040: 119,297 · -0.6%
• By 2050: 117,705 · -1.9%
• By 2075: 110,402 · -8.0%
• By 2100: 99,719 · -16.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 9% Hispanic / Latino 6% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 2%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Jasper

• 2024 margin: Solid R (+46.8) · D 25.9% · R 72.7% · Other 1.4%
• 2008→2024 swing: -13.6pp toward R · 2008: -33.2pp · 2024: -46.8pp
• All cycles: 2024: R+46.8 2020: R+46.2 2016: R+50.8 2012: R+41.0 2008: R+33.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -204.80%
• Current HPI: 279.4471
• Rent YoY: ▲ 15.66%
• Metro: Joplin, 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

+267.3% since first listed

18 events — show timeline

• 2025-07-03 Listed $220,000 OGAR
• 2024-06-24 Sold (Public Records) — Public Records
• 2024-06-21 Sold (MLS) — OGAR
• 2024-05-29 Pending — OGAR
• 2024-05-13 Price Changed $221,700 OGAR
• 2024-04-07 Price Changed $230,000 OGAR
• 2024-03-29 Listed $240,000 OGAR
• 2020-02-04 Sold (Public Records) — Public Records
• 2020-02-04 Sold (MLS) — SOMO
• 2020-02-04 Sold (MLS) — OGAR
• 2019-12-11 Listed $99,500 SOMO
• 2019-12-10 Listed $99,500 OGAR
• 2015-06-16 Sold (MLS) — OGAR
• 2014-11-24 Listed $128,000 OGAR
• 2014-07-23 Sold (MLS) — OGAR
• 2013-11-21 Listed $59,900 OGAR
• 2007-12-18 Sold (Public Records) — Public Records
• 1996-03-05 Sold (Public Records) — Public Records

Property tax history

+2.3%/yr

Latest (2025): $689 · +12.2% YoY. Source: county tax records.