118 Alabama St · St. Joseph, MO 64504

$75,000

2 bd · 1.0 ba · 888 sqft · SingleFamily public records · 51 Days on market

Built 1922 3,920 sqft lot Est $118k · 36% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• 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

* Co-list Brenda Blackmon-Cute and clean 2 bdrm Cottage w/ 1 car garage + off street parking-Interior walls insulated too very economical to heat cool-Lrg eat in ktchn w/ lots of cabinets- Very convenient location-Bring all offers

Key facts

• One-car garage
• Newer roof
• Storage shed

Tags

• SPACIOUS LAYOUT
• FULLY EQUIPPED KITCHEN
• NEWER ROOF
• OFF-STREET PARKING
• ONE-CAR GARAGE
• STORAGE SHED

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 $337 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.7% 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.
• Zoned schools: Hosea Elem. (math 12% / reading 21%, grade F, #980 of 1,115 statewide, top 88%, 438 students, 99% FRL); Benton High (math 22% / reading 42%, grade F, #356 of 521 statewide, top 71%, 676 students, 44% FRL) — zoned schools average 72% FRL vs 53% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 54 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 $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 ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $25k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.33% ✓
• Cap rate: 11.68%
• Cash-on-cash: 19.24%
• DSCR: 1.86
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $118,104
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
224 W Hyde Park Ave	0.11mi	2/1.0	840 (-5%)	1mo	$68,000	$81	85
212 Ohio St	0.21mi	2/1.0	940 (+6%)	2mo	$90,000	$96	79
501 Ohio St	0.38mi	2/1.0	904 (+2%)	3mo	$80,000	$88	77
6201 Brown St	0.41mi	2/1.0	888 (0%)	7mo	$139,900	$158	75
6112 Carnegie St	0.22mi	2/1.0	937 (+6%)	8mo	$125,000	$133	74
206 Hammond St	0.29mi	2/1.0	834 (-6%)	4mo	$107,000	$128	73
6210 S 3rd St	0.35mi	2/1.0	812 (-9%)	4mo	$119,900	$148	66
321 Fleeman St	0.43mi	2/1.0	956 (+8%)	7mo	$147,500	$154	61
6620 Carnegie St	0.49mi	2/1.0	962 (+8%)	4mo	$94,900	$99	60
402 Blake St	0.67mi	2/1.0	932 (+5%)	1mo	$139,000	$149	60
5207 Pryor Ave	0.62mi	2/1.0	966 (+9%)	1mo	$69,900	$72	56
6425 Eureka St	0.63mi	2/2.0	1,008 (+14%)	3mo	$138,000	$137	42

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: 11.1%
• Equity multiple: 1.44×
• Total profit: $9,265
• Equity at exit: $11,183

10-year hold

• IRR: 20.1%
• Equity multiple: 2.69×
• Total profit: $35,579
• 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 64504

• Active inventory: 54
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$29 /mo · $345/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $337

Break-even live

Break-even rent $574

Max offer price $75,000

Occupancy floor 61%

Sensitivity live

Price	-10% $379	-5% $358	+0% $337	+5% $315	+10% $294
Rent	-10% $258	-5% $297	+0% $337	+5% $376	+10% $416
Rate	-1.0pp $374	-0.5pp $356	base $337	+0.5pp $317	+1.0pp $297

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 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5206 King Hill Ave Unit C St Joseph, MO	2.0	1.0	1122	$1,000	$0.89	44d	1	0.59mi

Listing history 20 events

1. 2026-06-19
   days on market $75,000 Active 51 DOM
2. 2026-06-18
   days on market $75,000 Active 50 DOM
3. 2026-06-17
   days on market $75,000 Active 49 DOM
4. 2026-06-16
   days on market $75,000 Active 48 DOM
5. 2026-06-16
   pricestatus $75,000 Active 47 DOM
6. 2026-06-03
   status $84,900 Pending 47 DOM
7. 2026-06-02
   days on market $84,900 Active 47 DOM
8. 2026-06-01
   status $84,900 Active 46 DOM
9. 2025-11-09
   status Pending
10. 2025-11-04
    price $84,900
11. 2025-10-23
    price $87,900
12. 2025-10-06
    price $92,900
13. 2025-09-24
    listed $99,900 Active
14. 2024-03-05
    soldstatus
15. 2024-03-05
    soldstatus
16. 2022-04-01
    soldstatus
17. 2005-06-01
    listed $48,000
18. 2005-05-26
    historical 230-char remark

    Show marketing remark (230 chars)

    * Co-list Brenda Blackmon-Cute and clean 2 bdrm Cottage w/ 1 car garage + off street parking-Interior walls insulated too very economical to heat cool-Lrg eat in ktchn w/ lots of cabinets- Very convenient location-Bring all offers

19. 2005-02-26
    listed $54,900 230-char remark

    Show marketing remark (230 chars)

    * Co-list Brenda Blackmon-Cute and clean 2 bdrm Cottage w/ 1 car garage + off street parking-Interior walls insulated too very economical to heat cool-Lrg eat in ktchn w/ lots of cabinets- Very convenient location-Bring all offers

20. 1990-10-05
    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: $345 · $29/mo
• Projected year-2 tax: $728 · $61/mo
• Expected delta: +$382/yr (+$32/mo · 110.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,000
• − Mortgage interest: −$4,201
• − Property taxes: −$345
• − Insurance: −$375
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$2,182
• Taxable income: $2,977
• Est. tax owed @ 24.0%: −$714
• After-tax cash flow: $3,326/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): 10,286

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 (83%)
• Race & ethnicity: White 83% Hispanic / Latino 9% Two or more races 7% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 4% Cuban 2%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -100.84%
• Current HPI: 149.9895
• 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

+54.6% since first listed

12 events — show timeline

• 2025-11-09 Pending — Heartland MLS as Distributed by MLS Grid
• 2025-11-04 Price Changed $84,900 Heartland MLS as Distributed by MLS Grid
• 2025-10-23 Price Changed $87,900 Heartland MLS as Distributed by MLS Grid
• 2025-10-06 Price Changed $92,900 Heartland MLS as Distributed by MLS Grid
• 2025-09-24 Listed $99,900 Heartland MLS as Distributed by MLS Grid
• 2024-03-05 Sold (Public Records) — Public Records
• 2024-03-05 Sold (Public Records) — Public Records
• 2022-04-01 Sold (Public Records) — Public Records
• 2005-06-01 Listed $48,000 Heartland MLS as Distributed by MLS Grid
• 2005-05-26 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2005-02-26 Listed $54,900 Heartland MLS as Distributed by MLS Grid
• 1990-10-05 Sold (Public Records) — Public Records

Property tax history

+1.5%/yr

Latest (2025): $345 · +5.7% YoY. Source: county tax records.