615/617 W 21st St · Joplin, MO 64804

$180,000

None bd · 6.0 ba · 3,767 sqft · MultiFamily · 111 Days on market

↓ 10% since listing

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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
• Rent growth +5.0/5.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• 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

Duplex for sale with multi-use opportunity!Currently used for housing with a chapel for ministry, previously a flower shop. This could be divided into several living quarters for rental purposes or housing needs. With lots of square footage, and centrally located the possibilities are endless.

Key facts

• Centrally located
• Listed 110 days

Tags

• MULTI-USE OPPORTUNITY
• SEVERAL LIVING QUARTERS
• CENTRALLY LOCATED

Property features AI

Finance

• Financial info: Annual tax listed

Exterior

• Utilities: Public sewer
• Home design: Residential income property; Duplex
• Exterior features: No fencing; Composition roof; Lot approximately 6,250 sq ft

Interior

• Flooring: Carpet; Concrete; Vinyl; Wood
• Heating & cooling: Central heating; Window unit cooling
• Interior features: Carpet flooring; Concrete flooring; Vinyl flooring; Wood flooring

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $655/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $164k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.0% 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: schools D+, crime F, amenities 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.
• Market conditions: Rents rising fast (+15.7%/yr); 353 active listings in the ZIP; 602 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).
• At $3,234/mo this rent would consume 62% of the median local household income ($63k/yr) (locally 1082% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $50k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Recommended offer $163,800 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.80% ✓
• Cap rate: 15.03%
• Cash-on-cash: 31.21%
• DSCR: 2.39
• GRM: 4.6

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: 31.6%
• Equity multiple: 2.42×
• Total profit: $71,465
• Equity at exit: $26,839

10-year hold

• IRR: 41.4%
• Equity multiple: 5.92×
• Total profit: $247,728
• Equity at exit: $15,563

Cash invested: $50,400 (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: 353
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $3,234 high
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$679
• Net cashflow: $1,311

Break-even live

Break-even rent $1,575

Max offer price $180,000

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,234
Total (2 units)			$3,234

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $180,000 Active 111 DOM
2. 2026-06-18
   days on market $180,000 Active 110 DOM
3. 2026-06-17
   days on market $180,000 Active 109 DOM
4. 2026-06-16
   days on market $180,000 Active 108 DOM
5. 2026-06-15
   days on market $180,000 Active 107 DOM
6. 2026-06-14
   days on market $180,000 Active 105 DOM
7. 2026-06-13
   days on market $180,000 Active 104 DOM
8. 2026-06-10
   days on market $180,000 Active 102 DOM
9. 2026-06-09
   days on market $180,000 Active 101 DOM
10. 2026-06-08
    days on market $180,000 Active 100 DOM
11. 2026-06-07
    days on market $180,000 Active 99 DOM
12. 2026-06-05
    days on market $180,000 Active 96 DOM
13. 2026-06-03
    days on market $180,000 Active 95 DOM
14. 2026-06-02
    days on market $180,000 Active 94 DOM
15. 2026-06-01
    days on market $180,000 Active 93 DOM
16. 2026-05-31
    days on market $180,000 Active 92 DOM
17. 2026-05-30
    days on market $180,000 Active 91 DOM
18. 2026-02-27
    listed $180,000 Active 295-char remark

    Show marketing remark (295 chars)

    Duplex for sale with multi-use opportunity!Currently used for housing with a chapel for ministry, previously a flower shop. This could be divided into several living quarters for rental purposes or housing needs. With lots of square footage, and centrally located the possibilities are endless.

19. 2026-02-27
    listed $180,000 Active

    Show marketing remark (295 chars)

    Duplex for sale with multi-use opportunity!Currently used for housing with a chapel for ministry, previously a flower shop. This could be divided into several living quarters for rental purposes or housing needs. With lots of square footage, and centrally located the possibilities are endless.

20. 2024-09-09
    price $180,000
21. 2024-09-09
    price $180,000
22. 2024-07-01
    listed $200,000 Active

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

Taxation est. · year 1

• Rental income: $38,808
• − Mortgage interest: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$900
• − Repairs & maintenance: −$3,105
• − Management: −$3,105
• − Depreciation: −$5,236
• Taxable income: $13,680
• Est. tax owed @ 24.0%: −$3,283
• After-tax cash flow: $12,448/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

-10.0% since first listed

5 events — show timeline

• 2026-02-27 Listed $180,000 OGAR
• 2026-02-27 Listed $180,000 SOMO
• 2024-09-09 Price Changed $180,000 OGAR
• 2024-09-09 Price Changed $180,000 SOMO
• 2024-07-01 Listed $200,000 SOMO