2725 Delaware St · St. Joseph, MO 64506

$45,000

3 bd · 1.0 ba · 1,108 sqft · SingleFamily public records · 18 Days on market

Built 1925 3,375 sqft 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

Listing remarks MLS

Who's looking for a good project? This home is screaming for a makeover with three bedrooms and one bathroom. Bring your creative touch and incredible skills!

Key facts

• 3,375 sq ft lot
• Built 1925
• Listed 17 days

Property features AI

Finance

• Other: No maintenance provided
• HOA & community: No association fees

Exterior

• Parking: Other parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Bungalow floor plan; Residential property
• Construction: Asbestos construction materials; Composition roof; Approximately 101+ years old; About 1,108 above-grade living area
• Exterior features: Lot approximately 3,375 square feet

Interior

• Kitchen: Eat-in kitchen (appliances not specified)
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating; Electric cooling
• Interior features: Eat-in kitchen; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $572 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.
• Cap rate 21.5% 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: 119 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $311 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,325 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.43% ✓
• Cap rate: 21.54%
• Cash-on-cash: 54.47%
• DSCR: 3.42
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $129,636
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1806 N 22nd St	0.50mi	2/1.0 (-1)	1,068 (-4%)	0mo	$123,900	$116	65
915 N 24th St	0.39mi	2/1.0 (-1)	1,068 (-4%)	11mo	$124,900	$117	62
2327 Goff Ave	0.67mi	3/1.0	1,200 (+8%)	1mo	$199,000	$166	54
2312 Colhoun St	0.50mi	3/1.0	1,008 (-9%)	9mo	$97,500	$97	54
2623 Faraon St	0.72mi	2/1.0 (-1)	1,165 (+5%)	3mo	$139,900	$120	51
1705 Boyd St	0.72mi	3/1.0	1,161 (+5%)	10mo	$100,000	$86	50
1901 Jones St	0.61mi	2/1.0 (-1)	1,018 (-8%)	5mo	$120,000	$118	49
1921 Jones St	0.58mi	2/1.0 (-1)	980 (-12%)	0mo	$30,000	$31	49
1321 N 20th St	0.49mi	3/2.0	1,248 (+13%)	7mo	$99,900	$80	46
1912 Holman St	0.54mi	3/1.0	955 (-14%)	8mo	$99,000	$104	45
1828 Holman St	0.59mi	2/1.0 (-1)	948 (-14%)	10mo	$114,900	$121	35
2114 Eugene Field Ave	0.69mi	2/2.0 (-1)	1,272 (+15%)	10mo	$215,000	$169	26

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: 52.7%
• Equity multiple: 3.31×
• Total profit: $29,138
• Equity at exit: $6,710

10-year hold

• IRR: 57.9%
• Equity multiple: 6.74×
• Total profit: $72,295
• Equity at exit: $3,891

Cash invested: $12,600 (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 64506

• Active inventory: 119
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,093 high
• Mortgage (P&I): −$236
• Tax from tax record: −$37 /mo · $441/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $572

Break-even live

Break-even rent $369

Max offer price $45,000

Occupancy floor 43%

Sensitivity live

Price	-10% $597	-5% $585	+0% $572	+5% $559	+10% $546
Rent	-10% $486	-5% $529	+0% $572	+5% $615	+10% $658
Rate	-1.0pp $595	-0.5pp $583	base $572	+0.5pp $560	+1.0pp $548

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2901 Frederick Ave Saint Joseph, MO	2.0–3.0	1.0	900	$1,000	$1.11	45d	1	0.28mi
917 N 24th St Unit 1 St Joseph, MO	2.0	1.0	933	$925	$0.99	45d	1	0.39mi
425 N 25th St St Joseph, MO	2.0	1.0	800	$850	$1.06	45d	1	0.70mi
2408 Jules St Saint Joseph, MO	2.0	1.0	1032	$1,100	$1.07	45d	1	0.85mi
3128 Midland St Saint Joseph, MO	2.0	1.0	1104	$975	$0.88	45d	1	1.28mi
516 N 10th St Saint Joseph, MO	1.0–2.0	1.0	700	$900	$1.29	45d	1	1.31mi
303 S 13th St St Joseph, MO	3.0	1.5	1000	$950	$0.95	45d	1	1.38mi
201 S 10th St Saint Joseph, MO	2.0	1.0	600	$1,000	$1.67	45d	1	1.49mi

Listing history 13 events

1. 2026-06-19
   days on market $45,000 Active 18 DOM
2. 2026-06-18
   days on market $45,000 Active 17 DOM
3. 2026-06-17
   days on market $45,000 Active 16 DOM
4. 2026-06-16
   days on market $45,000 Active 15 DOM
5. 2026-06-15
   days on market $45,000 Active 14 DOM
6. 2026-06-14
   days on market $45,000 Active 12 DOM
7. 2026-06-12
   days on market $45,000 Active 11 DOM
8. 2026-06-09
   days on market $45,000 Active 8 DOM
9. 2026-06-08
   days on market $45,000 Active 7 DOM
10. 2026-06-07
    days on market $45,000 Active 6 DOM
11. 2026-06-03
    days on market $45,000 Active 2 DOM
12. 2026-06-02
    remarks 249-char remark
13. 2026-06-02
    listed $45,000 Active 1 DOM

ⓘ 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: $441 · $37/mo
• Projected year-2 tax: $441 · $37/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 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: $13,115
• − Mortgage interest: −$2,521
• − Property taxes: −$441
• − Insurance: −$225
• − Repairs & maintenance: −$1,049
• − Management: −$1,049
• − Depreciation: −$1,309
• Taxable income: $6,521
• Est. tax owed @ 24.0%: −$1,565
• After-tax cash flow: $5,298/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): 21,461
• Household income: $65,573
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 686.0

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 (80%)
• Race & ethnicity: White 80% Black 7% Hispanic / Latino 6% Two or more races 6% Asian 2% Pacific Islander 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 2%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 3% Other Asian/Pacific 1% Vietnamese 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: ▼ -127.26%
• Current HPI: 186.0383
• 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

+125.0% since first listed

9 events — show timeline

• 2026-06-01 Listed $45,000 Heartland MLS as Distributed by MLS Grid
• 2024-03-01 Sold (Public Records) — Public Records
• 2024-03-01 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2024-01-20 Pending — Heartland MLS as Distributed by MLS Grid
• 2024-01-19 Listed $25,000 Heartland MLS as Distributed by MLS Grid
• 2018-12-21 Sold (Public Records) — Public Records
• 2018-12-21 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2018-11-30 Listed $20,000 Heartland MLS as Distributed by MLS Grid
• 1986-07-08 Sold (Public Records) — Public Records

Property tax history

+1.3%/yr

Latest (2025): $441 · +3.6% YoY. Source: county tax records.