1508 S 26th St · St. Joseph, MO 64507

$75,000

2 bd · 1.0 ba · 935 sqft · SingleFamily public records · 5 Days on market

Built 1907 4,792 sqft lot Est $115k · 35% 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 +29.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.4/10.0
• 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

Listing remarks MLS

Adorable 2 bedroom, remodeled through out-Kitchen w/ new wood cabinets and flooring, appliances, refrigerator negotiable-Master bedroom features huge walk in closet-New carpet being installed in bedroom-Owner is putting finishing touches on home-New 100 amp service, hardwood floors, main floor laundry, many pluses- Motion lights, fenced, new vinyl siding, dry basement-Owner is living in home, pl

Key facts

• Off-street parking
• Fenced-in yard
• 4,792 sq ft lot

Tags

• FENCED-IN YARD
• OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $272 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($930 rent vs $75k).
• Cap rate 10.6% 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; 9 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $519 of loan paydown is wiped out by about $2k 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 $21k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 21y ago 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 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1907 — 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 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: 1.24% ✓
• Cap rate: 10.64%
• Cash-on-cash: 15.53%
• DSCR: 1.69
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $115,005
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1202 S 26th St	0.19mi	2/1.0	1,040 (+11%)	5mo	$149,900	$144	68
2101 Penn St	0.35mi	3/1.0 (+1)	988 (+6%)	2mo	$134,900	$137	68
1018 S 20th St	0.45mi	2/1.0	989 (+6%)	3mo	$35,000	$35	67
2831 Penn St	0.42mi	3/1.0 (+1)	900 (-4%)	4mo	$95,000	$106	66
2829 Penn St	0.41mi	2/1.0	850 (-9%)	2mo	$144,900	$170	64
2810 Oak St	0.75mi	2/1.5	936 (+0%)	0mo	$79,000	$84	63
2812 Doniphan Ave	0.38mi	3/1.0 (+1)	996 (+6%)	7mo	$134,700	$135	60
808 S 23rd St	0.46mi	2/1.0	850 (-9%)	8mo	$75,000	$88	57
2215 Lafayette St	0.39mi	3/1.0 (+1)	1,016 (+9%)	7mo	$124,900	$123	56
1321 S 17th St	0.53mi	2/1.0	1,040 (+11%)	1mo	$55,000	$53	56
2918 Seneca St	0.51mi	3/2.0 (+1)	838 (-10%)	0mo	$137,500	$164	50
1611 Seneca St	0.63mi	3/1.0 (+1)	825 (-12%)	8mo	$23,000	$28	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 6.3%
• Equity multiple: 1.24×
• Total profit: $5,139
• Equity at exit: $11,183

10-year hold

• IRR: 15.6%
• Equity multiple: 2.27×
• Total profit: $26,686
• Equity at exit: $6,485

Cash invested: $21,000 (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: 6.7×

Monthly cashflow live

• Estimated rent: $930 high
• Mortgage (P&I): −$393
• Tax from tax record: −$39 /mo · $465/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $272

Break-even live

Break-even rent $586

Max offer price $75,000

Occupancy floor 66%

Sensitivity live

Price	-10% $314	-5% $293	+0% $272	+5% $251	+10% $229
Rent	-10% $198	-5% $235	+0% $272	+5% $309	+10% $345
Rate	-1.0pp $310	-0.5pp $291	base $272	+0.5pp $252	+1.0pp $233

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1300 S 11th St Apt 22 St Joseph, MO	2.0	1.0	866	$998	$1.15	44d	1	0.92mi
1106 Olive St Saint Joseph, MO	2.0	1.0	700	$725	$1.04	44d	1	0.96mi
3128 Midland St Saint Joseph, MO	2.0	1.0	1104	$975	$0.88	44d	1	1.02mi
2408 Jules St Saint Joseph, MO	2.0	1.0	1032	$1,100	$1.07	44d	1	1.05mi
2219 S 10th St Saint Joseph, MO	2.0	1.0	800	$900	$1.12	44d	1	1.05mi
303 S 13th St St Joseph, MO	3.0	1.5	1000	$950	$0.95	44d	1	1.10mi
425 N 25th St St Joseph, MO	2.0	1.0	800	$850	$1.06	44d	1	1.18mi
201 S 10th St Saint Joseph, MO	2.0	1.0	600	$1,000	$1.67	44d	1	1.27mi
1015 Faraon St St Joseph, MO	1.0	1.0	743	$820	$1.10	44d	1	1.44mi

Listing history 10 events

1. 2026-04-17
   status Pending
2. 2026-04-11
   listed $75,000 Active
3. 2007-06-18
   soldstatus
4. 2007-06-15
   soldstatus 398-char remark

   Show marketing remark (398 chars)

   Adorable 2 bedroom, remodeled through out-Kitchen w/ new wood cabinets and flooring, appliances, refrigerator negotiable-Master bedroom features huge walk in closet-New carpet being installed in bedroom-Owner is putting finishing touches on home-New 100 amp service, hardwood floors, main floor laundry, many pluses- Motion lights, fenced, new vinyl siding, dry basement-Owner is living in home, pl

5. 2007-05-03
   listed $69,500 398-char remark

   Show marketing remark (398 chars)

   Adorable 2 bedroom, remodeled through out-Kitchen w/ new wood cabinets and flooring, appliances, refrigerator negotiable-Master bedroom features huge walk in closet-New carpet being installed in bedroom-Owner is putting finishing touches on home-New 100 amp service, hardwood floors, main floor laundry, many pluses- Motion lights, fenced, new vinyl siding, dry basement-Owner is living in home, pl

6. 2006-01-09
   soldstatus 115-char remark

   Show marketing remark (115 chars)

   Great rehab potential in a nice location-Would make great starter or rental with some work-House being sold `As is`

7. 2006-01-09
   soldstatus

   Show marketing remark (115 chars)

   Great rehab potential in a nice location-Would make great starter or rental with some work-House being sold `As is`

8. 2005-12-22
   listed $21,500 115-char remark

   Show marketing remark (115 chars)

   Great rehab potential in a nice location-Would make great starter or rental with some work-House being sold `As is`

9. 2005-12-22
   listed $21,500

   Show marketing remark (115 chars)

   Great rehab potential in a nice location-Would make great starter or rental with some work-House being sold `As is`

10. 1984-02-09
    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: $465 · $39/mo
• Projected year-2 tax: $728 · $61/mo
• Expected delta: +$263/yr (+$22/mo · 56.5%)

ⓘ 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: $11,166
• − Mortgage interest: −$4,201
• − Property taxes: −$465
• − Insurance: −$375
• − Repairs & maintenance: −$893
• − Management: −$893
• − Depreciation: −$2,182
• Taxable income: $2,157
• Est. tax owed @ 24.0%: −$518
• After-tax cash flow: $2,744/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

+248.8% since first listed

10 events — show timeline

• 2026-04-17 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-11 Listed $75,000 Heartland MLS as Distributed by MLS Grid
• 2007-06-18 Sold (Public Records) — Public Records
• 2007-06-15 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2007-05-03 Listed $69,500 Heartland MLS as Distributed by MLS Grid
• 2006-01-09 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2006-01-09 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2005-12-22 Listed $21,500 Heartland MLS as Distributed by MLS Grid
• 2005-12-22 Listed $21,500 Heartland MLS as Distributed by MLS Grid
• 1984-02-09 Sold (Public Records) — Public Records

Property tax history

+1.4%/yr

Latest (2025): $465 · +5.1% YoY. Source: county tax records.