2522 Olive St · St. Joseph, MO 64507

$72,000

None bd · None ba · 1,011 sqft · MultiFamily public records · 42 Days on market

Built 1912 6,098 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: 2 units. confirmed

Listing remarks

Excellent investment opportunity! This 2-story duplex offers a 1 bed, 1 bath unit upstairs and a larger 3 bed, 1 bath unit downstairs. Includes two detached covered parking spaces. Plenty of upside potential for rental income or value-add improvements.

Key facts

• 6,098 sq ft lot
• Garage
• Built 1912

Property features AI

Finance

• Other: Current occupancy: Vacant; Total units: 2
• Financial info: Annual tax reported at $758; Operating expenses include other (multi-family)
• HOA & community: No association fees

Exterior

• Parking: 4 parking spaces total; Garage plus off-site parking available
• Utilities: Public water; Public sewer; Multi-unit heating and air service
• Home design: Duplex residential income property; 2-story building; Stucco exterior; Composition roof; Zoned city
• Construction: Stucco construction; Composition roof; Building older than 100 years
• Exterior features: Front porch; Property not in a flood plain; Lot recorded at 6,098 square feet

Interior

• Kitchen: Electric range
• Bedrooms: One 1-bedroom unit; One 3-bedroom unit
• Heating & cooling: Forced air heating; Window air conditioning units; Multi-unit heat/air utilities
• Interior features: Electric range; Private entrance
• Laundry & utility: Laundry located in basement

What this means for you Summary

Snapshot

• This is a 1×1bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $72k.

Deal economics

• At list price, monthly cash flow is $751 ($9k/yr) — positive. Per door: $375/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $72k).
• Recommended offer: $70k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.8% 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: 95 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $498 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 $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 22y ago; this cycle's ask has dropped $8k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,840 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% 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. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 2.15% ✓
• Cap rate: 18.80%
• Cash-on-cash: 44.68%
• DSCR: 2.99
• GRM: 3.9

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: 41.7%
• Equity multiple: 2.79×
• Total profit: $36,147
• Equity at exit: $10,735

10-year hold

• IRR: 47.9%
• Equity multiple: 5.62×
• Total profit: $93,064
• Equity at exit: $6,225

Cash invested: $20,160 (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: 95
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,546 high
• Mortgage (P&I): −$378
• Tax from tax record: −$63 /mo · $758/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $751

Break-even live

Break-even rent $596

Max offer price $72,000

Occupancy floor 46%

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$674
1× unit	3	1	$871
Total (2 units)			$1,546

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: $18,000
• Closing costs: $2,160
• Reserves months: —
• Total cash needed: —

Rent comps 16 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	43d	1	0.49mi
2408 Jules St Saint Joseph, MO	2.0	1.0	1032	$1,100	$1.07	43d	1	0.63mi
425 N 25th St St Joseph, MO	2.0	1.0	800	$850	$1.06	43d	1	0.76mi
3128 Midland St Saint Joseph, MO	2.0	1.0	1104	$975	$0.88	43d	1	0.78mi
303 S 13th St St Joseph, MO	3.0	1.5	1000	$950	$0.95	43d	1	0.84mi
1106 Olive St Saint Joseph, MO	2.0	1.0	700	$725	$1.04	43d	1	0.88mi
1300 S 11th St Apt 605 St Joseph, MO	2.0	2.0	1141	$940	$0.82	43d	1	0.95mi
1300 S 11th St Apt 22 St Joseph, MO	2.0	1.0	866	$998	$1.15	43d	1	0.95mi
1300 S 11th St Apt 603 St Joseph, MO	2.0	2.0	1176	$910	$0.77	43d	1	0.95mi
201 S 10th St Saint Joseph, MO	2.0	1.0	600	$1,000	$1.67	43d	1	1.04mi
917 N 24th St Unit 1 St Joseph, MO	2.0	1.0	933	$925	$0.99	43d	1	1.14mi
1015 Faraon St St Joseph, MO	1.0	1.0	743	$820	$1.10	43d	1	1.15mi
516 N 10th St Saint Joseph, MO	1.0–2.0	1.0	700	$900	$1.29	43d	1	1.28mi
2219 S 10th St Saint Joseph, MO	2.0	1.0	800	$900	$1.12	43d	1	1.29mi
2901 Frederick Ave Saint Joseph, MO	2.0–3.0	1.0	900	$835	$0.93	43d	1	1.39mi
809 Hall St Unit B St Joseph, MO	1.0	1.0	750	$850	$1.13	43d	1	1.44mi

Listing history 17 events

1. 2026-05-01
   status Pending
2. 2026-04-27
   price $72,000
3. 2026-03-20
   listed $80,000 Active
4. 2023-01-05
   historical
5. 2022-12-20
   status Active
6. 2022-11-23
   status Pending
7. 2022-08-30
   status Active
8. 2022-08-19
   status Pending
9. 2022-08-10
   listed $59,900 Active
10. 2017-03-27
    historical
11. 2017-03-13
    listed $69,000
12. 2016-12-23
    soldstatus
13. 2015-12-15
    soldstatus
14. 2013-09-03
    listed $29,900
15. 2006-04-17
    soldstatus
16. 2006-04-13
    soldstatus
17. 2004-12-24
    listed $48,900

ⓘ 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: $758 · $63/mo
• Projected year-2 tax: $758 · $63/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $18,552
• − Mortgage interest: −$4,033
• − Property taxes: −$758
• − Insurance: −$360
• − Repairs & maintenance: −$1,484
• − Management: −$1,484
• − Depreciation: −$2,095
• Taxable income: $8,338
• Est. tax owed @ 24.0%: −$2,001
• After-tax cash flow: $7,006/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

+47.2% since first listed

17 events — show timeline

• 2026-05-01 Pending — Heartland MLS as Distributed by MLS Grid
• 2026-04-27 Price Changed $72,000 Heartland MLS as Distributed by MLS Grid
• 2026-03-20 Listed $80,000 Heartland MLS as Distributed by MLS Grid
• 2023-01-05 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2022-12-20 Relisted — Heartland MLS as Distributed by MLS Grid
• 2022-11-23 Pending — Heartland MLS as Distributed by MLS Grid
• 2022-08-30 Relisted — Heartland MLS as Distributed by MLS Grid
• 2022-08-19 Pending — Heartland MLS as Distributed by MLS Grid
• 2022-08-10 Listed $59,900 Heartland MLS as Distributed by MLS Grid
• 2017-03-27 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2017-03-13 Listed $69,000 Heartland MLS as Distributed by MLS Grid
• 2016-12-23 Sold (Public Records) — Public Records
• 2015-12-15 Sold (Public Records) — Public Records
• 2013-09-03 Listed $29,900 Heartland MLS as Distributed by MLS Grid
• 2006-04-17 Sold (Public Records) — Public Records
• 2006-04-13 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2004-12-24 Listed $48,900 Heartland MLS as Distributed by MLS Grid

Property tax history

+1.5%/yr

Latest (2025): $758 · +6.2% YoY. Source: county tax records.