1504 W Missouri St Unit 1-4 · Buffalo, MO 65622

$310,000

36 bd · 16.0 ba · 4,424 sqft · MultiFamily · 275 Days on market

Built 1929 Fair condition 0.36 ac lot

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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 +20.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +5.4/10.0
• Appreciation +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Schools +2.4/10.0
• Condition / age +2.2/5.0

Multi-family units

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

Listing remarks MLS

Two Story 4-unit multifamily property available for sale. Whether you’re seeking a move-in ready owner-occupied opportunity or an income-producing investment, this property delivers versatility and value in Buffalo MO. Apartment 1 offers 3 spacious bedrooms, 1 full bathroom, large living room, kitchen, dining area and laundry closet. This is on the ground level & vacant. The remaining 3 apartments are 2 bedroom and 1 bath with kitchen dining combos. The two on the upper level are mirrors of each other and have a small back deck for rear entrance. Both ground level apartments are vacant and getting ready for new renters. 3 bdrm 600, 2 bdrm 500. Renters pay all utilities, and owner takes care of the yard. Newer roof and Palmer seamless siding. Seller selling as is however as improvements are made price will be adjusted. One long term renter. Month to month at $375.

Key facts

• Small back deck
• Ground level
• Newer roof

Tags

• MULTIFAMILY PROPERTY
• MOVE-IN READY OPPORTUNITY
• INCOME-PRODUCING INVESTMENT
• GROUND LEVEL
• SMALL BACK DECK
• NEWER ROOF

What this means for you Summary

Snapshot

• This is a 1×3bd/1ba + 3×2bd/1ba units multifamily listed at $310k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $395 ($5k/yr) — positive. Per door: $99/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $310k).
• Recommended offer: $273k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 3.0% in Buffalo — 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 68/100 on livability (#181 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B; Watch: schools F, amenities F, commute F.
• Dallas County R-I (town): math 23% / reading 35% proficiency, ranked #278 of 324 in MO (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 85 active listings in the ZIP; 8 units permitted in Dallas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.8%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Dallas County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 275 days — a 12% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $272,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 275 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 1929 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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.
10. 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.
11. 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: 1.04% ✓
• Cap rate: 7.82%
• Cash-on-cash: 5.46%
• DSCR: 1.24
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-2.81% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.74×
• Total profit: $-22,544
• Equity at exit: $48,855

10-year hold

• IRR: 2.4%
• Equity multiple: 1.17×
• Total profit: $15,089
• Equity at exit: $31,347

Cash invested: $86,800 (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 65622

• Home prices YoY: -1.1%
• Active inventory: 85
• Price-to-rent: 32.2×

Monthly cashflow live

• Estimated rent: $3,212 medium
• Mortgage (P&I): −$1,626
• Tax est. 1.5%: −$388 /mo · $4,650/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$675
• Net cashflow: $395

Break-even live

Break-even rent $2,712

Max offer price $310,000

Occupancy floor 83%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$803
▸ 3× units	2	1	$2,409
Total (4 units)			$3,212

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-30
   days on market $310,000 Active 275 DOM
2. 2025-08-28
   listed $310,000 Active 887-char remark

   Show marketing remark (881 chars)

   Two Story 4-unit multifamily property available for sale. Whether you're seeking a move-in ready owner-occupied opportunity or an income-producing investment, this property delivers versatility and value in Buffalo MO. Apartment 1 offers 3 spacious bedrooms, 1 full bathroom, large living room, kitchen, dining area and laundry closet. This is on the ground level & vacant. The remaining 3 apartments are 2 bedroom and 1 bath with kitchen dining combos. The two on the upper level are mirrors of each other and have a small back deck for rear entrance. Both ground level apartments are vacant and getting ready for new renters. 3 bdrm 600, 2 bdrm 500. Renters pay all utilities, and owner takes care of the yard. Newer roof and Palmer seamless siding. Seller selling as is however as improvements are made price will be adjusted. One long term renter. Month to month at $375.

3. 2025-08-28
   listed $310,000 Active 881-char remark

   Show marketing remark (881 chars)

   Two Story 4-unit multifamily property available for sale. Whether you're seeking a move-in ready owner-occupied opportunity or an income-producing investment, this property delivers versatility and value in Buffalo MO. Apartment 1 offers 3 spacious bedrooms, 1 full bathroom, large living room, kitchen, dining area and laundry closet. This is on the ground level & vacant. The remaining 3 apartments are 2 bedroom and 1 bath with kitchen dining combos. The two on the upper level are mirrors of each other and have a small back deck for rear entrance. Both ground level apartments are vacant and getting ready for new renters. 3 bdrm 600, 2 bdrm 500. Renters pay all utilities, and owner takes care of the yard. Newer roof and Palmer seamless siding. Seller selling as is however as improvements are made price will be adjusted. One long term renter. Month to month at $375.

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $38,544
• − Mortgage interest: −$17,365
• − Property taxes: −$4,650
• − Insurance: −$1,550
• − Repairs & maintenance: −$3,084
• − Management: −$3,084
• − Depreciation: −$9,018
• Taxable loss: −$206
• Est. tax savings @ 24.0%: +$49
• After-tax cash flow: $4,791/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 · 12 photos

Fair 45/100 Moderate rehab

This 4-unit multifamily property requires moderate renovations to improve its condition and increase its value. The kitchen and bathrooms are in poor condition and need major repairs. The home has a good roof and foundation, but the exterior and landscaping could use some work.

Repairs flagged

• Major kitchen cabinets — severe wear and tear
• Major bathroom fixtures — dated and worn
• Minor flooring — carpet in living areas

Value-add opportunities

• Resale update kitchen cabinets and countertops — modernizing the kitchen will attract more buyers
• Resale update bathroom fixtures and layout — modernizing the bathrooms will attract more buyers
• Both paint interior walls — improves the overall appearance and can be done inexpensively
• Both replace carpet in living areas — replacing the carpet with hardwood or tile will improve the appearance and functionality
• Both landscaping and curb appeal — improving the landscaping will make the home more attractive from the outside

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severe wear and tear	Major	$15,000–50,000
bathroom fixtures · dated and worn	Major	$15,000–50,000
flooring · carpet in living areas	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Resale update kitchen cabinets and countertops — modernizing the kitchen will attract more buyers ↑
• Resale update bathroom fixtures and layout — modernizing the bathrooms will attract more buyers ↑
• Both paint interior walls — improves the overall appearance and can be done inexpensively ↑
• Both replace carpet in living areas — replacing the carpet with hardwood or tile will improve the appearance and functionality ↑
• Both landscaping and curb appeal — improving the landscaping will make the home more attractive from the outside ↑

ⓘ 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: Dallas County R-I
• NCES district ID: 2906120
• Math proficiency: 23% ▼ -1.00%
• Reading proficiency: 35% ▬ 0.00%
• Median HH income: $38,067
• Composite: 24.19/100
• National rank: #7735
• State rank: #278 of 324 in MO

Livability — Buffalo

• Score: 68/100
• State rank: #181
• US rank: #9481

Category grades

Amenities F Commute F Cost of living A+ Crime B- Employment F Housing B Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Buffalo, MO
• Population (ZIP): 7,591

Population outlook (Dallas County) Hauer SSP2

• Today (2025): 15,419 people
• By 2030: 14,668 · -4.9%
• By 2040: 13,045 · -15.4%
• By 2050: 11,341 · -26.4%
• By 2075: 8,096 · -47.5%
• By 2100: 5,656 · -63.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Italian 4% Scottish 3% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Dallas

• 2024 margin: Solid R (+64.6) · D 17.3% · R 81.8%
• 2008→2024 swing: -35.4pp toward R · 2008: -29.1pp · 2024: -64.6pp
• All cycles: 2024: R+64.6 2020: R+64.7 2016: R+62.1 2012: R+39.4 2008: R+29.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.81%
• Current HPI: 256.066
• 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

+0.0% since first listed

2 events — show timeline

• 2025-08-28 Listed $310,000 MARIS as Distributed by MLS Grid
• 2025-08-28 Listed $310,000 SOMO