2801 S Michigan Ave · Joplin, MO 64804

$230,000

4 bd · 2.5 ba · 1,984 sqft · Other · 306 Days on market

Built 1964 0.30 ac lot

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Why this score? — see what drove the D 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 +14.5/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• DSCR +4.4/10.0
• Livability +3.2/5.0
• 1% rule +3.0/10.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

PRIME South Joplin location! Don't miss this spacious 4 bedroom 2 1/2 bath split-level ranch house on a large lovely corner lot. The home features a formal dining room, large living room with woodburning fireplace, and an additional large family room. There have been many updates, most within the past 2-3 years including plumbing & fixtures in bath and kitchen and new tankless water heater. Other upgrades include HVAC 2018-2019 and roof approx. 2016 - see full list in Documents.

Key facts

• Large family room
• Hvac
• Formal dining room

Tags

• SOUTH JOPLIN LOCATION
• FORMAL DINING ROOM
• WOODBURNING FIREPLACE
• LARGE FAMILY ROOM
• TANKLESS WATER HEATER
• HVAC

Property features AI

Exterior

• Parking: Attached 2-car garage; Additional 2-car attached garage parking
• Utilities: Public sewer
• Home design: Single-family residence, freestanding
• Construction: Block and slab foundation
• Exterior features: Covered patio; Porch; Fenced yard with privacy wood fencing; Shingle roof; Level, cleared lot

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher
• Bedrooms: Total rooms: 9
• Flooring: Carpet
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (natural gas and electric); Ceiling fan(s) for cooling
• Interior features: Ceiling fan(s); Wood-burning fireplace
• Laundry & utility: Washer/dryer not specified

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath other listed at $230k.

Deal economics

• At list price, monthly cash flow is $50 ($595/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 $183k (20.5% below list).
• Recommended offer: $183k (20.5% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 5.1% in Joplin — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: crime F, amenities F, commute 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.
• Zoned schools: Kelsey Norman Elem. (math 47% / reading 47%, grade D-, #347 of 1,115 statewide, top 35%, 301 students, 58% FRL); South Middle (math 40% / reading 48%, grade D, #121 of 391 statewide, top 32%, 573 students, 47% FRL); Joplin High (math 32% / reading 46%, grade F, #287 of 521 statewide, top 55%, 2,233 students, 50% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: Rents rising fast (+15.7%/yr); 355 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 602 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 306 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago; this cycle's ask has dropped $35k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $182,897 (20.5% below list)

Questions for the listing agent

1. It's been on market 306 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — 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. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.80% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.92%
• DSCR: 1.04
• GRM: 10.5

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: -10.0%
• Equity multiple: 0.62×
• Total profit: $-24,539
• Equity at exit: $34,294

10-year hold

• IRR: 4.6%
• Equity multiple: 1.41×
• Total profit: $26,317
• Equity at exit: $19,886

Cash invested: $64,400 (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: 355
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,829 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$93 /mo · $1,120/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $50

Break-even live

Break-even rent $1,766

Max offer price $230,000

Occupancy floor 92%

Sensitivity live

Price	-10% $180	-5% $115	+0% $50	+5% $-16	+10% $-81
Rent	-10% $-95	-5% $-23	+0% $50	+5% $122	+10% $194
Rate	-1.0pp $165	-0.5pp $108	base $50	+0.5pp $-10	+1.0pp $-71

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2517 Ohio Ave Joplin, MO	3.0	2.0	1503	$1,695	$1.13	22d	1	0.36mi
2114 S Patterson Ave Joplin, MO	3.0	2.0	1715	$1,700	$0.99	22d	1	0.87mi
2201 S Pearl Ave Joplin, MO	3.0	2.0	1487	$1,475	$0.99	22d	1	1.06mi
1806 Pennsylvania Ave Joplin, MO	3.0	1.0	1295	$1,050	$0.81	22d	1	1.06mi
2226 S Moffet Ave Joplin, MO	4.0	2.0	1818	$1,600	$0.88	22d	1	1.17mi
2528 E 15th St Joplin, MO	3.0	2.5	1800	$2,750	$1.53	22d	1	1.29mi
4502 Connecticut Ave Joplin, MO	3.0	2.0	1700	$1,650	$0.97	22d	1	1.39mi
2012 S Connor Ave Joplin, MO	3.0	2.0	1379	$1,595	$1.16	22d	1	1.43mi

Listing history 31 events

1. 2026-06-21
   days on market $230,000 Active 306 DOM
2. 2026-06-19
   days on market $230,000 Active 304 DOM
3. 2026-06-18
   days on market $230,000 Active 303 DOM
4. 2026-06-17
   days on market $230,000 Active 302 DOM
5. 2026-06-16
   days on market $230,000 Active 301 DOM
6. 2026-06-15
   days on market $230,000 Active 300 DOM
7. 2026-06-14
   days on market $230,000 Active 298 DOM
8. 2026-06-13
   days on market $230,000 Active 297 DOM
9. 2026-06-10
   pricedays on market $230,000 Active 295 DOM
10. 2026-06-09
    days on market $245,000 Active 294 DOM
11. 2026-06-08
    days on market $245,000 Active 293 DOM
12. 2026-06-07
    days on market $245,000 Active 292 DOM
13. 2026-06-05
    days on market $245,000 Active 289 DOM
14. 2026-06-03
    days on market $245,000 Active 288 DOM
15. 2026-06-02
    days on market $245,000 Active 287 DOM
16. 2026-06-01
    days on market $245,000 Active 286 DOM
17. 2026-05-31
    days on market $245,000 Active 285 DOM
18. 2026-05-30
    days on market $245,000 Active 284 DOM
19. 2026-02-06
    price $245,000

    Show marketing remark (491 chars)

    PRIME South Joplin location! Don't miss this spacious 4 bedroom 2 1/2 bath split-level ranch house on a large lovely corner lot. The home features a formal dining room, large living room with woodburning fireplace, and an additional large family room. There have been many updates, most within the past 2-3 years including plumbing & fixtures in bath and kitchen and new tankless water heater. Other upgrades include HVAC 2018-2019 and roof approx. 2016 - see full list in Documents.

20. 2026-02-06
    price $245,000 491-char remark

    Show marketing remark (491 chars)

    PRIME South Joplin location! Don't miss this spacious 4 bedroom 2 1/2 bath split-level ranch house on a large lovely corner lot. The home features a formal dining room, large living room with woodburning fireplace, and an additional large family room. There have been many updates, most within the past 2-3 years including plumbing & fixtures in bath and kitchen and new tankless water heater. Other upgrades include HVAC 2018-2019 and roof approx. 2016 - see full list in Documents.

21. 2025-11-07
    price $250,000

    Show marketing remark (491 chars)

    PRIME South Joplin location! Don't miss this spacious 4 bedroom 2 1/2 bath split-level ranch house on a large lovely corner lot. The home features a formal dining room, large living room with woodburning fireplace, and an additional large family room. There have been many updates, most within the past 2-3 years including plumbing & fixtures in bath and kitchen and new tankless water heater. Other upgrades include HVAC 2018-2019 and roof approx. 2016 - see full list in Documents.

22. 2025-11-07
    price $250,000 491-char remark

    Show marketing remark (491 chars)

    PRIME South Joplin location! Don't miss this spacious 4 bedroom 2 1/2 bath split-level ranch house on a large lovely corner lot. The home features a formal dining room, large living room with woodburning fireplace, and an additional large family room. There have been many updates, most within the past 2-3 years including plumbing & fixtures in bath and kitchen and new tankless water heater. Other upgrades include HVAC 2018-2019 and roof approx. 2016 - see full list in Documents.

23. 2025-09-09
    price $255,000 491-char remark

    Show marketing remark (491 chars)

    PRIME South Joplin location! Don't miss this spacious 4 bedroom 2 1/2 bath split-level ranch house on a large lovely corner lot. The home features a formal dining room, large living room with woodburning fireplace, and an additional large family room. There have been many updates, most within the past 2-3 years including plumbing & fixtures in bath and kitchen and new tankless water heater. Other upgrades include HVAC 2018-2019 and roof approx. 2016 - see full list in Documents.

24. 2025-09-09
    price $255,000

    Show marketing remark (491 chars)

    PRIME South Joplin location! Don't miss this spacious 4 bedroom 2 1/2 bath split-level ranch house on a large lovely corner lot. The home features a formal dining room, large living room with woodburning fireplace, and an additional large family room. There have been many updates, most within the past 2-3 years including plumbing & fixtures in bath and kitchen and new tankless water heater. Other upgrades include HVAC 2018-2019 and roof approx. 2016 - see full list in Documents.

25. 2025-08-19
    listed $265,000 Active 491-char remark

    Show marketing remark (491 chars)

    PRIME South Joplin location! Don't miss this spacious 4 bedroom 2 1/2 bath split-level ranch house on a large lovely corner lot. The home features a formal dining room, large living room with woodburning fireplace, and an additional large family room. There have been many updates, most within the past 2-3 years including plumbing & fixtures in bath and kitchen and new tankless water heater. Other upgrades include HVAC 2018-2019 and roof approx. 2016 - see full list in Documents.

26. 2025-08-19
    listed $265,000 Active

    Show marketing remark (491 chars)

    PRIME South Joplin location! Don't miss this spacious 4 bedroom 2 1/2 bath split-level ranch house on a large lovely corner lot. The home features a formal dining room, large living room with woodburning fireplace, and an additional large family room. There have been many updates, most within the past 2-3 years including plumbing & fixtures in bath and kitchen and new tankless water heater. Other upgrades include HVAC 2018-2019 and roof approx. 2016 - see full list in Documents.

27. 2016-12-09
    soldstatus 231-char remark

    Show marketing remark (231 chars)

    VERY spacious home on large corner lot. 4BR 2.5BA. Formal living room and family room. Lots of nice updates like siding, windows, and roof! Nice fenced backyard!2 car garage. Beautiful home walking distance to Kelsey Norman school.

28. 2016-12-09
    soldstatus

    Show marketing remark (231 chars)

    VERY spacious home on large corner lot. 4BR 2.5BA. Formal living room and family room. Lots of nice updates like siding, windows, and roof! Nice fenced backyard!2 car garage. Beautiful home walking distance to Kelsey Norman school.

29. 2016-08-09
    listed $127,900 231-char remark

    Show marketing remark (231 chars)

    VERY spacious home on large corner lot. 4BR 2.5BA. Formal living room and family room. Lots of nice updates like siding, windows, and roof! Nice fenced backyard!2 car garage. Beautiful home walking distance to Kelsey Norman school.

30. 2016-08-09
    listed $127,900

    Show marketing remark (231 chars)

    VERY spacious home on large corner lot. 4BR 2.5BA. Formal living room and family room. Lots of nice updates like siding, windows, and roof! Nice fenced backyard!2 car garage. Beautiful home walking distance to Kelsey Norman school.

31. 1993-09-16
    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: $1,120 · $93/mo
• Projected year-2 tax: $2,231 · $186/mo
• Expected delta: +$1,111/yr (+$93/mo · 99.2%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,948
• − Mortgage interest: −$12,884
• − Property taxes: −$1,120
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,756
• − Management: −$1,756
• − Depreciation: −$6,691
• Taxable loss: −$3,409
• Est. tax savings @ 24.0%: +$818
• After-tax cash flow: $1,413/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

+91.6% since first listed

13 events — show timeline

• 2026-02-06 Price Changed $245,000 OGAR
• 2026-02-06 Price Changed $245,000 SOMO
• 2025-11-07 Price Changed $250,000 OGAR
• 2025-11-07 Price Changed $250,000 SOMO
• 2025-09-09 Price Changed $255,000 SOMO
• 2025-09-09 Price Changed $255,000 OGAR
• 2025-08-19 Listed $265,000 SOMO
• 2025-08-19 Listed $265,000 OGAR
• 2016-12-09 Sold (MLS) — OGAR
• 2016-12-09 Sold (MLS) — SOMO
• 2016-08-09 Listed $127,900 OGAR
• 2016-08-09 Listed $127,900 SOMO
• 1993-09-16 Sold (Public Records) — Public Records

Property tax history

+2.9%/yr

Latest (2025): $1,120 · +12.0% YoY. Source: county tax records.