1627 S 10th St · St. Joseph, MO 64503

$109,900

4 bd · None ba · 1,468 sqft · MultiFamily public records · 104 Days on market

Built 1900 7,200 sqft lot Est $115k · at est.

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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 +9.6/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

LARGE 2 BEDROOM UNITS ON A LARGE LOT AND LOCATED ON A CORNER LOT IN THE BLOCK RIGHT NEXT TO THE PARK. One unit is currently occupied with a lease in place $850/month while the other needs a little TLC and will be ready to rent at $850 as well. Great ROI on this property without a lot of money out of pocket.

Key facts

• Next to the park
• Large lot
• Ready to rent

Tags

• LARGE LOT
• CORNER LOT
• NEXT TO THE PARK
• READY TO RENT

What this means for you Summary

Snapshot

• This is a 4-bed/?-bath multifamily listed at $110k.

Deal economics

• At list price, monthly cash flow is $653 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.4% 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.
• Zoned schools: Carden Park Elem (math 34% / reading 34%, grade F, #739 of 1,115 statewide, top 67%, 577 students, 100% FRL); Truman Middle (math 17% / reading 27%, grade F, #332 of 391 statewide, top 86%, 482 students, 99% FRL); Lafayette High (math 16% / reading 47%, grade F, #371 of 521 statewide, top 71%, 717 students, 100% FRL) — zoned schools average 100% FRL vs 53% district-wide (47 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 89 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $760 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 $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $100,009 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.50% ✓
• Cap rate: 13.42%
• Cash-on-cash: 25.46%
• DSCR: 2.13
• GRM: 5.6

CMA / ARV

• ARV (median comp): $115,235
• List price: $109,900
• Delta: -4.63%
• Verdict: FAIR
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 19.0%
• Equity multiple: 1.77×
• Total profit: $23,731
• Equity at exit: $16,386

10-year hold

• IRR: 27.3%
• Equity multiple: 3.41×
• Total profit: $74,031
• Equity at exit: $9,502

Cash invested: $30,772 (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: 11.1×

Monthly cashflow live

• Estimated rent: $1,646 high
• Mortgage (P&I): −$576
• Tax from tax record: −$25 /mo · $304/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $653

Break-even live

Break-even rent $820

Max offer price $109,900

Occupancy floor 55%

Sensitivity live

Price	-10% $715	-5% $684	+0% $653	+5% $622	+10% $591
Rent	-10% $523	-5% $588	+0% $653	+5% $718	+10% $783
Rate	-1.0pp $708	-0.5pp $681	base $653	+0.5pp $624	+1.0pp $595

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,646
Total (2 units)			$1,646

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
303 S 13th St St Joseph, MO	3.0	1.5	1000	$950	$0.95	45d	1	0.91mi
1616 S 25th St Saint Joseph, MO	3.0	1.0	1500	$1,300	$0.87	45d	1	0.93mi

Listing history 8 events

1. 2026-06-03
   days on market $109,900 Active 104 DOM
2. 2026-06-02
   days on market $109,900 Active 103 DOM
3. 2026-06-01
   days on market $109,900 Active 102 DOM
4. 2026-05-31
   days on market $109,900 Active 101 DOM
5. 2026-05-30
   days on market $109,900 Active 100 DOM
6. 2026-02-19
   listed $109,900 Active 308-char remark

   Show marketing remark (308 chars)

   LARGE 2 BEDROOM UNITS ON A LARGE LOT AND LOCATED ON A CORNER LOT IN THE BLOCK RIGHT NEXT TO THE PARK. One unit is currently occupied with a lease in place $850/month while the other needs a little TLC and will be ready to rent at $850 as well. Great ROI on this property without a lot of money out of pocket.

7. 2024-01-12
   soldstatus
8. 1998-02-06
   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: $304 · $25/mo
• Projected year-2 tax: $1,066 · $89/mo
• Expected delta: +$762/yr (+$64/mo · 250.9%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $19,752
• − Mortgage interest: −$6,156
• − Property taxes: −$304
• − Insurance: −$550
• − Repairs & maintenance: −$1,580
• − Management: −$1,580
• − Depreciation: −$3,197
• Taxable income: $6,385
• Est. tax owed @ 24.0%: −$1,532
• After-tax cash flow: $6,302/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): 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

3 events — show timeline

• 2026-02-19 Listed $109,900 Heartland MLS as Distributed by MLS Grid
• 2024-01-12 Sold (Public Records) — Public Records
• 1998-02-06 Sold (Public Records) — Public Records

Property tax history

+1.2%/yr

Latest (2025): $304 · +2.7% YoY. Source: county tax records.