1115 S 12th St · St. Joseph, MO 64503

$108,000

12 bd · None ba · — sqft · MultiFamily · 483 Days on market

Built 1900 Poor condition 5,227 sqft lot Est $125k · 14% under

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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
• ARV discount +13.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Attention Investors! This triplex is completely gutted and ready to be remodeled. Put in some sweat equity and turn this blank slate into a income producing property. Centrally located, your tenants will have quick access to downtown St. Joseph, the South End, and Highway 36.

Key facts

• Remodeled
• Gutted
• Centrally located

Tags

• TRIPLEX
• GUTTED
• REMODELED
• INCOME PRODUCING PROPERTY
• CENTRALLY LOCATED
• QUICK ACCESS TO SOUTH END

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1-bath units multifamily listed at $108k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $947 ($11k/yr) — positive. Per door: $316/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $108k).
• Recommended offer: $95k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.8% 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.
• Market conditions: 89 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 $747 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 483 days — a 12% lower offer ($95k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $95,040 (12.0% below list)

Questions for the listing agent

1. It's been on market 483 days. Have you received any prior offers? Is the seller open to a 12% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.99% ✓
• Cap rate: 16.82%
• Cash-on-cash: 37.60%
• DSCR: 2.67
• GRM: 4.2

CMA / ARV

• ARV (median comp): $125,494
• List price: $108,000
• Delta: -13.94%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 33.6%
• Equity multiple: 2.42×
• Total profit: $42,872
• Equity at exit: $16,103

10-year hold

• IRR: 40.5%
• Equity multiple: 4.81×
• Total profit: $115,161
• Equity at exit: $9,338

Cash invested: $30,240 (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 64503

• Active inventory: 89
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $2,144 high
• Mortgage (P&I): −$566
• Tax est. 1.5%: −$135 /mo · $1,620/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $947

Break-even live

Break-even rent $945

Max offer price $108,000

Occupancy floor 51%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$2,145
Total (3 units)			$2,144

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: $27,000
• Closing costs: $3,240
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $108,000 Active 483 DOM
2. 2026-06-18
   days on market $108,000 Active 482 DOM
3. 2026-06-17
   days on market $108,000 Active 481 DOM
4. 2026-06-16
   days on market $108,000 Active 480 DOM
5. 2026-06-15
   days on market $108,000 Active 479 DOM
6. 2026-06-14
   days on market $108,000 Active 477 DOM
7. 2026-06-12
   days on market $108,000 Active 476 DOM
8. 2026-06-09
   days on market $108,000 Active 473 DOM
9. 2026-06-08
   days on market $108,000 Active 472 DOM
10. 2026-06-07
    days on market $108,000 Active 471 DOM
11. 2026-06-03
    days on market $108,000 Active 467 DOM
12. 2026-06-02
    days on market $108,000 Active 466 DOM
13. 2026-06-01
    days on market $108,000 Active 465 DOM
14. 2026-05-31
    days on market $108,000 Active 464 DOM
15. 2026-05-30
    days on market $108,000 Active 463 DOM
16. 2025-02-21
    listed $108,000 Active 276-char remark

    Show marketing remark (276 chars)

    Attention Investors! This triplex is completely gutted and ready to be remodeled. Put in some sweat equity and turn this blank slate into a income producing property. Centrally located, your tenants will have quick access to downtown St. Joseph, the South End, and Highway 36.

ⓘ 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 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: $25,728
• − Mortgage interest: −$6,050
• − Property taxes: −$1,620
• − Insurance: −$540
• − Repairs & maintenance: −$2,058
• − Management: −$2,058
• − Depreciation: −$3,142
• Taxable income: $10,260
• Est. tax owed @ 24.0%: −$2,462
• After-tax cash flow: $8,906/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.

Condition & rehab AI · 3 photos

Poor 20/100 Gut rehab

This triplex is gutted and requires extensive repairs, including board and repair windows and doors, and structural repairs. Immediate safety and security are critical before any investment can be made.

Repairs flagged

• Major Boarded windows and doors — Structural damage and security risk
• Major Exposed structural elements — Structural integrity compromised

Value-add opportunities

• Both Board and repair windows and doors — Safety and security are paramount for both resale and rental
• Both Repair and replace exposed structural elements — Structural integrity is essential for both safety and value
• Both Siding repair and replacement — Aesthetic appeal and structural integrity

Renovation cost estimate screening

Repair item	Severity	Est. cost
Boarded windows and doors · Structural damage and security risk	Major	$15,000–50,000
Exposed structural elements · Structural integrity compromised	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Board and repair windows and doors — Safety and security are paramount for both resale and rental ↑
• Both Repair and replace exposed structural elements — Structural integrity is essential for both safety and value ↑
• Both Siding repair and replacement — Aesthetic appeal and structural integrity ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 11,921

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 (85%)
• Race & ethnicity: White 85% Two or more races 8% Hispanic / Latino 6% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 4% Cuban 1%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 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: ▼ -128.03%
• Current HPI: 185.3921
• 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

1 event — show timeline

• 2025-02-21 Listed $108,000 Heartland MLS as Distributed by MLS Grid