1325 Mitchell Ave · St. Joseph, MO 64503

$239,000

None bd · None ba · 1,254 sqft · MultiFamily public records · 28 Days on market

Built 1918 7,841 sqft 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 +29.8/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• 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

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Property sells in Online Auction ending Wednesday, February 28th. Log on and bid your price on this revenue generating Four Unit Apartment Building and 2BR Home on 1 parcel. This is going to be a great buy, so don't miss out! Open House Friday, February 16th, 2PM - 4PM. This property is one 15 properties in a multi-family portfolio auction. See also MLS #'s: 2087176, 2087155, 2087156, 2087162, 2087163, 2087164, 2087165, 2087167, 2087168, 2087169, 2087171, 2087172, 2087173, 2087174,

Key facts

• Central area
• Easy access to shops
• 7,841 sq ft lot

Tags

• FOUR UNIT APARTMENT BUILDING
• CENTRAL AREA
• EASY ACCESS TO SHOPS
• EASY ACCESS TO TRANSIT
• EASY ACCESS TO SERVICES
• RECENTLY UPDATED STUDIOS

Property features AI

Finance

• Other: Lot size approximately 7,841 square feet
• Financial info: Gross annual income reported as $27,480; Operating expenses include electricity, maintenance, insurance, property management, real estate tax, refuse collection, water/sewer and other items; Annual tax amount reported (not included in financial calculations here)
• HOA & community: No association fees

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electricity included in operating expenses (per property financial info)
• Home design: Residential income apartment; Two-story building; Zoned R4
• Construction: Brick construction; Composition roof
• Exterior features: Not in a flood plain

Interior

• Bedrooms: Combination of 1-bedroom and efficiency units (four units total, mostly efficiency)
• Heating & cooling: Natural gas heating; Other/unspecified cooling
• Interior features: Basement present; Multi-unit property with high occupancy (over 95%)
• Laundry & utility: Central water heater; Multi-unit heating/air system

What this means for you Summary

Snapshot

• This is a multifamily listed at $239k.

Deal economics

• At list price, monthly cash flow is $879 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $239k).
• Recommended offer: $235k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.7% 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 C — 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: 89 active listings in the ZIP; 6 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 $2k of loan paydown is wiped out by about $7k 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 $67k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $235,415 (1.5% below list)

Questions for the listing agent

1. Built in 1918 — 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 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: 1.21% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.76%
• DSCR: 1.70
• GRM: 6.9

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: 6.6%
• Equity multiple: 1.26×
• Total profit: $17,131
• Equity at exit: $35,636

10-year hold

• IRR: 15.9%
• Equity multiple: 2.29×
• Total profit: $86,543
• Equity at exit: $20,664

Cash invested: $66,920 (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 64503

• Active inventory: 89
• Price-to-rent: 27.6×

Monthly cashflow live

• Estimated rent: $2,889 medium
• Mortgage (P&I): −$1,253
• Tax from tax record: −$51 /mo · $608/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$607
• Net cashflow: $879

Break-even live

Break-even rent $1,777

Max offer price $239,000

Occupancy floor 65%

Sensitivity live

Price	-10% $1,014	-5% $946	+0% $879	+5% $811	+10% $743
Rent	-10% $651	-5% $765	+0% $879	+5% $993	+10% $1,107
Rate	-1.0pp $999	-0.5pp $940	base $879	+0.5pp $817	+1.0pp $754

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$2,888
Total (4 units)			$2,889

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1300 S 11th St Apt 605 St Joseph, MO	2.0	2.0	1141	$940	$0.82	45d	1	0.16mi
1300 S 11th St Apt 603 St Joseph, MO	2.0	2.0	1176	$910	$0.77	45d	1	0.16mi
303 S 13th St St Joseph, MO	3.0	1.5	1000	$950	$0.95	45d	1	0.68mi
1616 S 25th St Saint Joseph, MO	3.0	1.0	1500	$1,300	$0.87	45d	1	0.75mi
516 N 10th St Saint Joseph, MO	1.0–2.0	1.0	700	$900	$1.29	45d	1	1.11mi
2408 Jules St Saint Joseph, MO	2.0	1.0	1032	$1,100	$1.07	45d	1	1.13mi

Listing history 24 events

1. 2026-06-19
   days on market $239,000 Active 28 DOM
2. 2026-06-18
   days on market $239,000 Active 27 DOM
3. 2026-06-17
   days on market $239,000 Active 26 DOM
4. 2026-06-16
   days on market $239,000 Active 25 DOM
5. 2026-06-15
   days on market $239,000 Active 24 DOM
6. 2026-06-14
   days on market $239,000 Active 22 DOM
7. 2026-06-12
   days on market $239,000 Active 21 DOM
8. 2026-06-09
   days on market $239,000 Active 18 DOM
9. 2026-06-08
   days on market $239,000 Active 17 DOM
10. 2026-06-07
    days on market $239,000 Active 16 DOM
11. 2026-06-03
    days on market $239,000 Active 12 DOM
12. 2026-06-02
    days on market $239,000 Active 11 DOM
13. 2026-06-01
    days on market $239,000 Active 10 DOM
14. 2026-05-31
    days on market $239,000 Active 9 DOM
15. 2026-05-30
    days on market $239,000 Active 8 DOM
16. 2026-05-22
    listed $239,000 Active
17. 2022-03-28
    soldstatus
18. 2022-03-28
    soldstatus
19. 2018-03-20
    soldstatus 488-char remark

    Show marketing remark (488 chars)

    Property sells in Online Auction ending Wednesday, February 28th. Log on and bid your price on this revenue generating Four Unit Apartment Building and 2BR Home on 1 parcel. This is going to be a great buy, so don't miss out! Open House Friday, February 16th, 2PM - 4PM. This property is one 15 properties in a multi-family portfolio auction. See also MLS #'s: 2087176, 2087155, 2087156, 2087162, 2087163, 2087164, 2087165, 2087167, 2087168, 2087169, 2087171, 2087172, 2087173, 2087174,

20. 2018-03-20
    soldstatus

    Show marketing remark (488 chars)

    Property sells in Online Auction ending Wednesday, February 28th. Log on and bid your price on this revenue generating Four Unit Apartment Building and 2BR Home on 1 parcel. This is going to be a great buy, so don't miss out! Open House Friday, February 16th, 2PM - 4PM. This property is one 15 properties in a multi-family portfolio auction. See also MLS #'s: 2087176, 2087155, 2087156, 2087162, 2087163, 2087164, 2087165, 2087167, 2087168, 2087169, 2087171, 2087172, 2087173, 2087174,

21. 2018-01-19
    listed $52,900 488-char remark

    Show marketing remark (488 chars)

    Property sells in Online Auction ending Wednesday, February 28th. Log on and bid your price on this revenue generating Four Unit Apartment Building and 2BR Home on 1 parcel. This is going to be a great buy, so don't miss out! Open House Friday, February 16th, 2PM - 4PM. This property is one 15 properties in a multi-family portfolio auction. See also MLS #'s: 2087176, 2087155, 2087156, 2087162, 2087163, 2087164, 2087165, 2087167, 2087168, 2087169, 2087171, 2087172, 2087173, 2087174,

22. 2015-10-08
    historical
23. 2015-01-22
    listed $67,000
24. 2009-02-05
    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: $608 · $51/mo
• Projected year-2 tax: $2,318 · $193/mo
• Expected delta: +$1,711/yr (+$143/mo · 281.6%)

ⓘ 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: $34,668
• − Mortgage interest: −$13,388
• − Property taxes: −$608
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,773
• − Management: −$2,773
• − Depreciation: −$6,953
• Taxable income: $6,978
• Est. tax owed @ 24.0%: −$1,675
• After-tax cash flow: $8,870/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): 11,921

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 (85%)
• Race & ethnicity: White 85% Two or more races 8% Hispanic / Latino 6% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 4% Cuban 1%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 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: ▼ -128.03%
• Current HPI: 185.3921
• 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

+256.7% since first listed

9 events — show timeline

• 2026-05-22 Listed $239,000 Heartland MLS as Distributed by MLS Grid
• 2022-03-28 Sold (Public Records) — Public Records
• 2022-03-28 Sold (Public Records) — Public Records
• 2018-03-20 Sold (Public Records) — Public Records
• 2018-03-20 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2018-01-19 Listed $52,900 Heartland MLS as Distributed by MLS Grid
• 2015-10-08 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2015-01-22 Listed $67,000 Heartland MLS as Distributed by MLS Grid
• 2009-02-05 Sold (Public Records) — Public Records

Property tax history

+1.1%/yr

Latest (2024): $608 · +24.5% YoY. Source: county tax records.