115 S 13th St · St. Joseph, MO 64501

$379,000

120 bd · None ba · 2,440 sqft · MultiFamily public records · 96 Days on market

Built 1900 0.26 ac lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 12 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

INVESTORS! 12-unit, Value-add, Small apartment on historic Museum Hill in St. Joseph MO! PRICE IMPROVEMENT! Gorgeous, brick 4-story multifamily property, known as Boteler Flats, featuring 10 one-bedroom units and 2 studios, & 2 car detached garage w. private drive on large corner lot (space for additional parking to be added in future if needed). Major systems have already been completed - roof, plumbing, electrical, heating and A/C, new 14 gang meter can installed and approved w/ city & major iron work fire escapes completed by local artist to negate need for fire suppression system. Partial interior rehab completed! Floors 1–3 are framed and ready for drywall completion. 4th floor has been framed and drywalled. Buyer to complete interiors: kitchens, baths, flooring, and remaining drywall on floors 1–3. Some minor exterior work still needed as well. Strong upside potential for investors looking to finish out and stabilize a 12-unit asset. Selling As-is. Seller’s disclosure available. Seller willing to have trash removed from site prior to closing. Buyer to verify all information and perform due diligence. Seller will review all offers with proof of funds. Seller has multiple other properties for sale as well, willing to 1031 and consider ALL offers! Showings by appointment only w/ Agent!

Key facts

• 0.26 acre lot
• Garage
• Built 1900

What this means for you Summary

Snapshot

• This is a 12 × 1-bed/1-bath units multifamily listed at $379k.

Deal economics

• At list price, monthly cash flow is $4k ($47k/yr) — positive. Per door: $329/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $379k).
• Recommended offer: $345k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.8% 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.
• Zoned schools: Robidoux Middle (math 19% / reading 28%, grade F, #328 of 391 statewide, top 84%, 390 students, 99% FRL); Lafayette High (math 16% / reading 47%, grade F, #371 of 521 statewide, top 71%, 717 students, 100% FRL) — zoned schools average 99% FRL vs 53% district-wide (47 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 97 active listings in the ZIP; 70 units permitted in Buchanan County in 2024 (0 in 5+ unit buildings).
• At $8,319/mo this rent would consume 214% of the median local household income ($47k/yr) (locally 721% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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 $106k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y ago; this cycle's ask has dropped $251k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $344,890 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% 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 1900 — 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. 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 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: 2.19% ✓
• Cap rate: 18.81%
• Cash-on-cash: 44.70%
• DSCR: 2.99
• GRM: 3.8

CMA / ARV

• ARV (median comp): $125,555
• List price: $379,000
• Delta: 201.86%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 41.7%
• Equity multiple: 2.79×
• Total profit: $190,469
• Equity at exit: $56,510

10-year hold

• IRR: 47.9%
• Equity multiple: 5.62×
• Total profit: $490,545
• Equity at exit: $32,769

Cash invested: $106,120 (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 64501

• Active inventory: 97
• Price-to-rent: 45.6×

Monthly cashflow live

• Estimated rent: $8,319 high
• Mortgage (P&I): −$1,988
• Tax est. 1.5%: −$474 /mo · $5,685/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,747
• Net cashflow: $3,953

Break-even live

Break-even rent $3,315

Max offer price $379,000

Occupancy floor 47%

Sensitivity live

Price	-10% $4,215	-5% $4,084	+0% $3,953	+5% $3,822	+10% $3,691
Rent	-10% $3,296	-5% $3,624	+0% $3,953	+5% $4,281	+10% $4,610
Rate	-1.0pp $4,144	-0.5pp $4,049	base $3,953	+0.5pp $3,855	+1.0pp $3,755

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

Units	Beds	Baths	Est. rent
▸ 12× units	1	1	$8,316
Total (12 units)			$8,319

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: $94,750
• Closing costs: $11,370
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-03
   days on market $379,000 Active 96 DOM
2. 2026-06-02
   days on market $379,000 Active 95 DOM
3. 2026-06-01
   days on market $379,000 Active 94 DOM
4. 2026-05-31
   days on market $379,000 Active 93 DOM
5. 2026-05-30
   days on market $379,000 Active 92 DOM
6. 2026-05-01
   price $379,000 1342-char remark

   Show marketing remark (1342 chars)

   INVESTORS! 12-unit, Value-add, Small apartment on historic Museum Hill in St. Joseph MO! PRICE IMPROVEMENT! Gorgeous, brick 4-story multifamily property, known as Boteler Flats, featuring 10 one-bedroom units and 2 studios, & 2 car detached garage w. private drive on large corner lot (space for additional parking to be added in future if needed). Major systems have already been completed - roof, plumbing, electrical, heating and A/C, new 14 gang meter can installed and approved w/ city & major iron work fire escapes completed by local artist to negate need for fire suppression system. Partial interior rehab completed! Floors 1–3 are framed and ready for drywall completion. 4th floor has been framed and drywalled. Buyer to complete interiors: kitchens, baths, flooring, and remaining drywall on floors 1–3. Some minor exterior work still needed as well. Strong upside potential for investors looking to finish out and stabilize a 12-unit asset. Selling As-is. Seller’s disclosure available. Seller willing to have trash removed from site prior to closing. Buyer to verify all information and perform due diligence. Seller will review all offers with proof of funds. Seller has multiple other properties for sale as well, willing to 1031 and consider ALL offers! Showings by appointment only w/ Agent!

7. 2026-04-08
   price $518,000 1342-char remark

   Show marketing remark (1342 chars)

   INVESTORS! 12-unit, Value-add, Small apartment on historic Museum Hill in St. Joseph MO! PRICE IMPROVEMENT! Gorgeous, brick 4-story multifamily property, known as Boteler Flats, featuring 10 one-bedroom units and 2 studios, & 2 car detached garage w. private drive on large corner lot (space for additional parking to be added in future if needed). Major systems have already been completed - roof, plumbing, electrical, heating and A/C, new 14 gang meter can installed and approved w/ city & major iron work fire escapes completed by local artist to negate need for fire suppression system. Partial interior rehab completed! Floors 1–3 are framed and ready for drywall completion. 4th floor has been framed and drywalled. Buyer to complete interiors: kitchens, baths, flooring, and remaining drywall on floors 1–3. Some minor exterior work still needed as well. Strong upside potential for investors looking to finish out and stabilize a 12-unit asset. Selling As-is. Seller’s disclosure available. Seller willing to have trash removed from site prior to closing. Buyer to verify all information and perform due diligence. Seller will review all offers with proof of funds. Seller has multiple other properties for sale as well, willing to 1031 and consider ALL offers! Showings by appointment only w/ Agent!

8. 2026-03-10
   price $569,000 1342-char remark

   Show marketing remark (1342 chars)

   INVESTORS! 12-unit, Value-add, Small apartment on historic Museum Hill in St. Joseph MO! PRICE IMPROVEMENT! Gorgeous, brick 4-story multifamily property, known as Boteler Flats, featuring 10 one-bedroom units and 2 studios, & 2 car detached garage w. private drive on large corner lot (space for additional parking to be added in future if needed). Major systems have already been completed - roof, plumbing, electrical, heating and A/C, new 14 gang meter can installed and approved w/ city & major iron work fire escapes completed by local artist to negate need for fire suppression system. Partial interior rehab completed! Floors 1–3 are framed and ready for drywall completion. 4th floor has been framed and drywalled. Buyer to complete interiors: kitchens, baths, flooring, and remaining drywall on floors 1–3. Some minor exterior work still needed as well. Strong upside potential for investors looking to finish out and stabilize a 12-unit asset. Selling As-is. Seller’s disclosure available. Seller willing to have trash removed from site prior to closing. Buyer to verify all information and perform due diligence. Seller will review all offers with proof of funds. Seller has multiple other properties for sale as well, willing to 1031 and consider ALL offers! Showings by appointment only w/ Agent!

9. 2026-02-28
   listed $630,000 Active 1342-char remark

   Show marketing remark (1342 chars)

   INVESTORS! 12-unit, Value-add, Small apartment on historic Museum Hill in St. Joseph MO! PRICE IMPROVEMENT! Gorgeous, brick 4-story multifamily property, known as Boteler Flats, featuring 10 one-bedroom units and 2 studios, & 2 car detached garage w. private drive on large corner lot (space for additional parking to be added in future if needed). Major systems have already been completed - roof, plumbing, electrical, heating and A/C, new 14 gang meter can installed and approved w/ city & major iron work fire escapes completed by local artist to negate need for fire suppression system. Partial interior rehab completed! Floors 1–3 are framed and ready for drywall completion. 4th floor has been framed and drywalled. Buyer to complete interiors: kitchens, baths, flooring, and remaining drywall on floors 1–3. Some minor exterior work still needed as well. Strong upside potential for investors looking to finish out and stabilize a 12-unit asset. Selling As-is. Seller’s disclosure available. Seller willing to have trash removed from site prior to closing. Buyer to verify all information and perform due diligence. Seller will review all offers with proof of funds. Seller has multiple other properties for sale as well, willing to 1031 and consider ALL offers! Showings by appointment only w/ Agent!

10. 2026-02-23
    historical $630,000 1342-char remark

    Show marketing remark (1342 chars)

    INVESTORS! 12-unit, Value-add, Small apartment on historic Museum Hill in St. Joseph MO! PRICE IMPROVEMENT! Gorgeous, brick 4-story multifamily property, known as Boteler Flats, featuring 10 one-bedroom units and 2 studios, & 2 car detached garage w. private drive on large corner lot (space for additional parking to be added in future if needed). Major systems have already been completed - roof, plumbing, electrical, heating and A/C, new 14 gang meter can installed and approved w/ city & major iron work fire escapes completed by local artist to negate need for fire suppression system. Partial interior rehab completed! Floors 1–3 are framed and ready for drywall completion. 4th floor has been framed and drywalled. Buyer to complete interiors: kitchens, baths, flooring, and remaining drywall on floors 1–3. Some minor exterior work still needed as well. Strong upside potential for investors looking to finish out and stabilize a 12-unit asset. Selling As-is. Seller’s disclosure available. Seller willing to have trash removed from site prior to closing. Buyer to verify all information and perform due diligence. Seller will review all offers with proof of funds. Seller has multiple other properties for sale as well, willing to 1031 and consider ALL offers! Showings by appointment only w/ Agent!

11. 2024-08-02
    soldstatus
12. 2024-08-01
    soldstatus Closed 607-char remark

    Show marketing remark (607 chars)

    Formerly The Boteler Flats located in Museum Hill Historic District for over 100 years! Dr. William C. Boteler, a well known St. Joseph Optometrist, commissioned this 3 story Chateauesque brick structure construction and designed by Edmond Eckel. It would be a gorgeous 12 unit of loft living space when finished out. Current owner has done the following: Replaced rotted decking, re-roof with TPO, insulation board, rebuilt perimeter parapet walls, tuck pointed majority of front fa?ade, tear down and re-laid brickwork above 3rd story French doors. Custom roofing caps & flashing. Stain glass saved.

13. 2024-07-11
    status Pending 607-char remark

    Show marketing remark (607 chars)

    Formerly The Boteler Flats located in Museum Hill Historic District for over 100 years! Dr. William C. Boteler, a well known St. Joseph Optometrist, commissioned this 3 story Chateauesque brick structure construction and designed by Edmond Eckel. It would be a gorgeous 12 unit of loft living space when finished out. Current owner has done the following: Replaced rotted decking, re-roof with TPO, insulation board, rebuilt perimeter parapet walls, tuck pointed majority of front fa?ade, tear down and re-laid brickwork above 3rd story French doors. Custom roofing caps & flashing. Stain glass saved.

14. 2024-03-15
    listed $99,900 Active 607-char remark

    Show marketing remark (607 chars)

    Formerly The Boteler Flats located in Museum Hill Historic District for over 100 years! Dr. William C. Boteler, a well known St. Joseph Optometrist, commissioned this 3 story Chateauesque brick structure construction and designed by Edmond Eckel. It would be a gorgeous 12 unit of loft living space when finished out. Current owner has done the following: Replaced rotted decking, re-roof with TPO, insulation board, rebuilt perimeter parapet walls, tuck pointed majority of front fa?ade, tear down and re-laid brickwork above 3rd story French doors. Custom roofing caps & flashing. Stain glass saved.

15. 2024-01-19
    historical
16. 2023-09-30
    status Pending
17. 2023-05-09
    price $94,900
18. 2023-03-13
    status Active
19. 2023-03-08
    historical Active Under Contract
20. 2023-03-07
    listed $99,900 Active
21. 2017-08-23
    listed $290,000
22. 2015-09-01
    soldstatus
23. 2003-10-31
    soldstatus
24. 2003-10-31
    soldstatus
25. 2003-08-19
    listed $58,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $99,828
• − Mortgage interest: −$21,230
• − Property taxes: −$5,685
• − Insurance: −$1,895
• − Repairs & maintenance: −$7,986
• − Management: −$7,986
• − Depreciation: −$11,025
• Taxable income: $44,020
• Est. tax owed @ 24.0%: −$10,565
• After-tax cash flow: $36,869/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
• County: Buchanan County · 32,150 people
• City population: 44,382
• Metro: St. Joseph, MO-KS
• Population (ZIP): 10,689
• Household income: $46,731
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 721.0

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 (69%)
• Race & ethnicity: White 69% Black 12% Hispanic / Latino 11% Two or more races 9%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Italian 3% Romanian 1% Slovak 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 89% English-only · Spanish 7% Arabic 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: ▼ -150.20%
• Current HPI: 157.8706
• Rent YoY: —
• Metro: St. Joseph, MO-KS
• 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

+553.4% since first listed

20 events — show timeline

• 2026-05-01 Price Changed $379,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-08 Price Changed $518,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-10 Price Changed $569,000 Heartland MLS as Distributed by MLS Grid
• 2026-02-28 Listed $630,000 Heartland MLS as Distributed by MLS Grid
• 2026-02-23 Coming Soon $630,000 Heartland MLS as Distributed by MLS Grid
• 2024-08-02 Sold (Public Records) — Public Records
• 2024-08-01 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2024-07-11 Pending — Heartland MLS as Distributed by MLS Grid
• 2024-03-15 Listed $99,900 Heartland MLS as Distributed by MLS Grid
• 2024-01-19 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2023-09-30 Pending — Heartland MLS as Distributed by MLS Grid
• 2023-05-09 Price Changed $94,900 Heartland MLS as Distributed by MLS Grid
• 2023-03-13 Relisted — Heartland MLS as Distributed by MLS Grid
• 2023-03-08 Contingent — Heartland MLS as Distributed by MLS Grid
• 2023-03-07 Listed $99,900 Heartland MLS as Distributed by MLS Grid
• 2017-08-23 Listed $290,000 Heartland MLS as Distributed by MLS Grid
• 2015-09-01 Sold (Public Records) — Public Records
• 2003-10-31 Sold (Public Records) — Public Records
• 2003-10-31 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2003-08-19 Listed $58,000 Heartland MLS as Distributed by MLS Grid

Property tax history

-15.1%/yr

Latest (2025): $140 · +0.6% YoY. Source: county tax records.