2624 Monterey St · St. Joseph, MO 64507

$107,250

2 bd · 1.0 ba · 970 sqft · SingleFamily public records · 49 Days on market

Built 1907 4,356 sqft lot $111/sqft · 12% below area Est $133k · 19% under

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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 +17.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• 1% rule +3.8/10.0
• 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

Listing remarks

Turn-key investment opportunity! Tucked away on a quiet dead-end block, this charming two-bedroom, one-bath home offers both comfort and flexibility. Inside, you’ll find a blend of luxury vinyl plank flooring and new carpet, along with a large adjoining dining and living room that creates an open, inviting space for everyday living or entertaining. Currently tenant-occupied with a long term lease in place.

Key facts

• 4,356 sq ft lot
• Built 1907
• Listed 48 days

Property features AI

Finance

• Financial info: Tax information available (not included per rules)
• HOA & community: No association fees; Maintenance not provided

Exterior

• Parking: Other parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; 2-story floor plan; South-facing
• Construction: Frame construction; Composition roof; Has a basement
• Exterior features: Lot approximately 4,356 square feet; Located inside city limits

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom (on the main level)
• Heating & cooling: Natural gas heating; Electric cooling
• Interior features: Formal dining area; Unfinished basement
• Laundry & utility: Laundry located on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $107k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/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 $94k (12.1% below list).
• Recommended offer: $94k (12.1% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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: 95 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $742 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 21y ago; this cycle's ask has dropped $28k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $94,303 (12.1% below list)

Questions for the listing agent

1. It's been on market 49 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 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.88% ✗
• Cap rate: 7.25%
• Cash-on-cash: 3.43%
• DSCR: 1.15
• GRM: 9.5

CMA / ARV

• ARV (median comp): $132,909
• List price: $107,250
• Delta: -19.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1202 S 26th St	0.29mi	2/1.0	1,040 (+7%)	5mo	$149,900	$144	71
2101 Penn St	0.48mi	3/1.0 (+1)	988 (+2%)	2mo	$134,900	$137	68
1018 S 20th St	0.58mi	2/1.0	989 (+2%)	3mo	$35,000	$35	68
2814 Mitchell Ave	0.27mi	2/1.0	1,080 (+11%)	6mo	$134,900	$125	64
2810 Oak St	0.64mi	2/1.5	936 (-4%)	0mo	$79,000	$84	62
2831 Penn St	0.38mi	3/1.0 (+1)	900 (-7%)	4mo	$95,000	$106	62
2829 Penn St	0.38mi	2/1.0	850 (-12%)	2mo	$144,900	$170	60
1321 S 17th St	0.64mi	2/1.0	1,040 (+7%)	1mo	$55,000	$53	57
3111 Lafayette St	0.72mi	2/2.0	1,055 (+9%)	1mo	$159,900	$152	47
3114 Olive St	0.75mi	3/1.0 (+1)	900 (-7%)	1mo	$138,900	$154	47
2918 Seneca St	0.46mi	3/2.0 (+1)	838 (-14%)	0mo	$137,500	$164	46
1308 S 32nd St	0.66mi	3/1.0 (+1)	1,063 (+10%)	4mo	$149,900	$141	45

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: -11.0%
• Equity multiple: 0.60×
• Total profit: $-11,954
• Equity at exit: $15,991

10-year hold

• IRR: -1.7%
• Equity multiple: 0.88×
• Total profit: $-3,523
• Equity at exit: $9,273

Cash invested: $30,030 (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 64507

• Active inventory: 95
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $943 high
• Mortgage (P&I): −$562
• Tax from tax record: −$52 /mo · $625/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $86

Break-even live

Break-even rent $834

Max offer price $107,250

Occupancy floor 86%

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: $26,812
• Closing costs: $3,218
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3128 Midland St Saint Joseph, MO	2.0	1.0	1104	$975	$0.88	44d	1	1.00mi
1300 S 11th St Apt 22 St Joseph, MO	2.0	1.0	866	$998	$1.15	44d	1	1.03mi
1106 Olive St Saint Joseph, MO	2.0	1.0	700	$725	$1.04	44d	1	1.09mi
2219 S 10th St Saint Joseph, MO	2.0	1.0	800	$900	$1.12	44d	1	1.12mi
2408 Jules St Saint Joseph, MO	2.0	1.0	1032	$1,100	$1.07	44d	1	1.13mi
303 S 13th St St Joseph, MO	3.0	1.5	1000	$950	$0.95	44d	1	1.22mi
425 N 25th St St Joseph, MO	2.0	1.0	800	$850	$1.06	44d	1	1.25mi
201 S 10th St Saint Joseph, MO	2.0	1.0	600	$1,000	$1.67	44d	1	1.40mi

Listing history 28 events

1. 2026-06-19
   days on market $107,250 Active 49 DOM
2. 2026-06-18
   days on market $107,250 Active 48 DOM
3. 2026-06-17
   days on market $107,250 Active 47 DOM
4. 2026-06-16
   days on market $107,250 Active 46 DOM
5. 2026-06-15
   days on market $107,250 Active 45 DOM
6. 2026-06-14
   days on market $107,250 Active 43 DOM
7. 2026-06-12
   days on market $107,250 Active 42 DOM
8. 2026-06-09
   days on market $107,250 Active 39 DOM
9. 2026-06-08
   days on market $107,250 Active 38 DOM
10. 2026-06-07
    days on market $107,250 Active 37 DOM
11. 2026-06-03
    days on market $107,250 Active 33 DOM
12. 2026-06-02
    days on market $107,250 Active 32 DOM
13. 2026-06-01
    pricedays on market $107,250 Active 31 DOM
14. 2026-05-31
    days on market $110,000 Active 30 DOM
15. 2026-05-30
    days on market $110,000 Active 29 DOM
16. 2026-05-02
    price $110,000 415-char remark
17. 2026-05-01
    listed $135,000 Active 415-char remark
18. 2020-12-15
    historical
19. 2020-10-28
    listed $65,000 Active
20. 2015-02-17
    historical
21. 2014-08-18
    listed $45,000
22. 2011-09-20
    soldstatus
23. 2011-02-17
    listed $34,500
24. 2009-09-28
    historical
25. 2009-06-01
    listed $74,900
26. 2007-01-16
    listed $76,900
27. 2005-06-10
    listed $72,000
28. 2003-04-01
    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: $625 · $52/mo
• Projected year-2 tax: $1,040 · $87/mo
• Expected delta: +$415/yr (+$35/mo · 66.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 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: $11,316
• − Mortgage interest: −$6,008
• − Property taxes: −$625
• − Insurance: −$536
• − Repairs & maintenance: −$905
• − Management: −$905
• − Depreciation: −$3,120
• Taxable loss: −$784
• Est. tax savings @ 24.0%: +$188
• After-tax cash flow: $1,217/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): 14,159

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% Black 8% Two or more races 7% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% French/Haitian/Cajun 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: ▼ -121.49%
• Current HPI: 165.1511
• 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

+49.0% since first listed

15 events — show timeline

• 2026-06-01 Price Changed $107,250 Heartland MLS as Distributed by MLS Grid
• 2026-06-01 Price Changed $131,625 Heartland MLS as Distributed by MLS Grid
• 2026-05-02 Price Changed $110,000 Heartland MLS as Distributed by MLS Grid
• 2026-05-01 Listed $135,000 Heartland MLS as Distributed by MLS Grid
• 2020-12-15 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2020-10-28 Listed $65,000 Heartland MLS as Distributed by MLS Grid
• 2015-02-17 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2014-08-18 Listed $45,000 Heartland MLS as Distributed by MLS Grid
• 2011-09-20 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2011-02-17 Listed $34,500 Heartland MLS as Distributed by MLS Grid
• 2009-09-28 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2009-06-01 Listed $74,900 Heartland MLS as Distributed by MLS Grid
• 2007-01-16 Listed $76,900 Heartland MLS as Distributed by MLS Grid
• 2005-06-10 Listed $72,000 Heartland MLS as Distributed by MLS Grid
• 2003-04-01 Sold (Public Records) — Public Records

Property tax history

+1.5%/yr

Latest (2025): $625 · +6.1% YoY. Source: county tax records.