1501 S 33rd St Unit A · St. Joseph, MO 64507

$98,900

4 bd · 2.0 ba · 2,230 sqft · MultiFamily public records · 3 Days on market

Built 1930 7,405 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

Multi-family units

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

Listing remarks

Great house for an investor. This house is two units, main level and an upstairs. Low maintenance with high reward. Nice neighborhood just a couple of blocks away from the Muny Inn. Both bathrooms have had significant upgrades. The units have had consistent renters for several years. Many renters have been Missouri Western students because of reasonable rent and the proximity to the university.

Key facts

• Significant upgrades
• Two units
• 7,405 sq ft lot

Tags

• TWO UNITS
• SIGNIFICANT UPGRADES
• PROXIMITY TO UNIVERSITY

Property features AI

Finance

• Other: Above-grade finished area reported by agent; Below-grade finished area reported by agent; Total living area reported
• Financial info: Annual tax amount listed
• HOA & community: No association fees

Exterior

• Parking: Garage (1 space); Basement access to parking
• Utilities: Public water service; Public sewer service
• Home design: Single-family residence (attached); Residential property
• Construction: Wood siding; Composition roof; Originally built approximately 76–100 years ago; Finished basement area
• Exterior features: Public water; Public sewer; Not in a flood plain; Corner location

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Window air conditioning units
• Interior features: Basement with cellar; Two-story floor plan; Faces west

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $99k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Cap rate 18.5% 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: 96 active listings in the ZIP; 1 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 $684 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 $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,900

Questions for the listing agent

1. Built in 1930 — 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 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: 2.11% ✓
• Cap rate: 18.51%
• Cash-on-cash: 43.62%
• DSCR: 2.94
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 40.5%
• Equity multiple: 2.74×
• Total profit: $48,090
• Equity at exit: $14,746

10-year hold

• IRR: 46.8%
• Equity multiple: 5.49×
• Total profit: $124,445
• Equity at exit: $8,551

Cash invested: $27,692 (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: 96
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,082 high
• Mortgage (P&I): −$519
• Tax from tax record: −$78 /mo · $940/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $1,007

Break-even live

Break-even rent $808

Max offer price $98,900

Occupancy floor 47%

Sensitivity live

Price	-10% $1,063	-5% $1,035	+0% $1,007	+5% $979	+10% $951
Rent	-10% $842	-5% $924	+0% $1,007	+5% $1,089	+10% $1,171
Rate	-1.0pp $1,056	-0.5pp $1,032	base $1,007	+0.5pp $981	+1.0pp $955

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,082
Total (2 units)			$2,082

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: $24,725
• Closing costs: $2,967
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1616 S 25th St Saint Joseph, MO	3.0	1.0	1500	$1,300	$0.87	44d	1	0.93mi

Listing history 2 events

1. 2026-06-07
   remarks 397-char remark
2. 2026-06-07
   listed $98,900 Pending 3 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: $940 · $78/mo
• Projected year-2 tax: $959 · $80/mo
• Expected delta: +$20/yr (+$2/mo · 2.1%)

ⓘ 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 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: $24,984
• − Mortgage interest: −$5,540
• − Property taxes: −$940
• − Insurance: −$494
• − Repairs & maintenance: −$1,999
• − Management: −$1,999
• − Depreciation: −$2,877
• Taxable income: $11,135
• Est. tax owed @ 24.0%: −$2,672
• After-tax cash flow: $9,407/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

5 events — show timeline

• 2026-06-06 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-06-03 Listed $98,900 Heartland MLS as Distributed by MLS Grid
• 2025-01-02 Sold (Public Records) — Public Records
• 2018-04-30 Sold (Public Records) — Public Records
• 1982-11-17 Sold (Public Records) — Public Records

Property tax history

+3.2%/yr

Latest (2025): $940 · +32.4% YoY. Source: county tax records.