3004 & 3006 N 10th St · St. Joseph, MO 64505

$150,000

4 bd · None ba · 1,736 sqft · MultiFamily public records · 78 Days on market

Built 1892 5,663 sqft lot Est $155k · at est.

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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 +26.9/30.0
• DSCR +9.3/10.0
• ARV discount +9.0/15.0
• 1% rule +6.1/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

New investment opportunity for a fully leased, updated duplex in a prime north end location. Each unit features one bedroom, a bonus room, and one bathroom. The property also includes a large parking pad accessible via the alley.

Key facts

• 5,663 sq ft lot
• 4 parking spots
• Built 1892

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $417 ($5k/yr) — positive. Per door: $209/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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 C — 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: 126 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $4k 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 $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 4 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 1892 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $141,000 (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. 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 1892 — 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: 1.11% ✓
• Cap rate: 9.63%
• Cash-on-cash: 11.92%
• DSCR: 1.53
• GRM: 7.5

CMA / ARV

• ARV (median comp): $155,312
• List price: $150,000
• Delta: -3.42%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 1.4%
• Equity multiple: 1.05×
• Total profit: $2,208
• Equity at exit: $22,365

10-year hold

• IRR: 11.0%
• Equity multiple: 1.85×
• Total profit: $35,902
• Equity at exit: $12,969

Cash invested: $42,000 (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 64505

• Active inventory: 126
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $1,668 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$51 /mo · $617/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $417

Break-even live

Break-even rent $1,140

Max offer price $150,000

Occupancy floor 70%

Sensitivity live

Price	-10% $502	-5% $460	+0% $417	+5% $375	+10% $332
Rent	-10% $285	-5% $351	+0% $417	+5% $483	+10% $549
Rate	-1.0pp $493	-0.5pp $455	base $417	+0.5pp $378	+1.0pp $339

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,668
Total (2 units)			$1,668

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $150,000 Active 78 DOM
2. 2026-06-18
   days on market $150,000 Active 77 DOM
3. 2026-06-17
   days on market $150,000 Active 76 DOM
4. 2026-06-16
   days on market $150,000 Active 75 DOM
5. 2026-06-15
   days on market $150,000 Active 74 DOM
6. 2026-06-14
   days on market $150,000 Active 72 DOM
7. 2026-06-12
   days on market $150,000 Active 71 DOM
8. 2026-06-09
   days on market $150,000 Active 68 DOM
9. 2026-06-08
   days on market $150,000 Active 67 DOM
10. 2026-06-07
    days on market $150,000 Active 66 DOM
11. 2026-06-03
    days on market $150,000 Active 62 DOM
12. 2026-06-02
    days on market $150,000 Active 61 DOM
13. 2026-06-01
    days on market $150,000 Active 60 DOM
14. 2026-05-31
    days on market $150,000 Active 59 DOM
15. 2026-05-30
    days on market $150,000 Active 58 DOM
16. 2026-04-03
    listed $150,000 Active 229-char remark

    Show marketing remark (229 chars)

    New investment opportunity for a fully leased, updated duplex in a prime north end location. Each unit features one bedroom, a bonus room, and one bathroom. The property also includes a large parking pad accessible via the alley.

17. 2026-04-01
    historical $150,000 229-char remark

    Show marketing remark (229 chars)

    New investment opportunity for a fully leased, updated duplex in a prime north end location. Each unit features one bedroom, a bonus room, and one bathroom. The property also includes a large parking pad accessible via the alley.

18. 2023-12-20
    soldstatus Closed 146-char remark

    Show marketing remark (146 chars)

    INVESTORS- Fully leased, updated duplex. Each has one bedroom, bonus room and one bath. Large parking pad off the alley. Great north end location!

19. 2023-12-20
    soldstatus

    Show marketing remark (146 chars)

    INVESTORS- Fully leased, updated duplex. Each has one bedroom, bonus room and one bath. Large parking pad off the alley. Great north end location!

20. 2023-11-29
    status Pending 146-char remark

    Show marketing remark (146 chars)

    INVESTORS- Fully leased, updated duplex. Each has one bedroom, bonus room and one bath. Large parking pad off the alley. Great north end location!

21. 2023-10-06
    listed $135,000 Active 146-char remark

    Show marketing remark (146 chars)

    INVESTORS- Fully leased, updated duplex. Each has one bedroom, bonus room and one bath. Large parking pad off the alley. Great north end location!

22. 2014-07-25
    listed $53,900
23. 2007-03-12
    soldstatus
24. 2007-03-09
    soldstatus
25. 2006-09-20
    listed $62,500
26. 1996-04-26
    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: $617 · $51/mo
• Projected year-2 tax: $1,455 · $121/mo
• Expected delta: +$838/yr (+$70/mo · 136.0%)

ⓘ 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 2/10 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,016
• − Mortgage interest: −$8,402
• − Property taxes: −$617
• − Insurance: −$750
• − Repairs & maintenance: −$1,601
• − Management: −$1,601
• − Depreciation: −$4,364
• Taxable income: $2,681
• Est. tax owed @ 24.0%: −$643
• After-tax cash flow: $4,363/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): 13,875

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% Hispanic / Latino 8% Two or more races 6% Black 3% Asian 3% Pacific Islander 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 2% Portuguese 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Chinese 2% Other Asian/Pacific 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: ▼ -139.45%
• Current HPI: 207.1403
• 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

+140.0% since first listed

11 events — show timeline

• 2026-04-03 Listed $150,000 Heartland MLS as Distributed by MLS Grid
• 2026-04-01 Coming Soon $150,000 Heartland MLS as Distributed by MLS Grid
• 2023-12-20 Sold (Public Records) — Public Records
• 2023-12-20 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2023-11-29 Pending — Heartland MLS as Distributed by MLS Grid
• 2023-10-06 Listed $135,000 Heartland MLS as Distributed by MLS Grid
• 2014-07-25 Listed $53,900 Heartland MLS as Distributed by MLS Grid
• 2007-03-12 Sold (Public Records) — Public Records
• 2007-03-09 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2006-09-20 Listed $62,500 Heartland MLS as Distributed by MLS Grid
• 1996-04-26 Sold (Public Records) — Public Records

Property tax history

+1.6%/yr

Latest (2025): $617 · +6.9% YoY. Source: county tax records.