2417 Charles St · St. Joseph, MO 64501

$98,000

2 bd · 1.0 ba · 648 sqft · SingleFamily public records · 137 Days on market

Built 1922 4,200 sqft lot $151/sqft · 39% above area Est $110k · 11% under

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Why this score? — see what drove the D+ 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 +17.1/30.0
• ARV discount +12.4/15.0
• DSCR +5.3/10.0
• 1% rule +3.6/10.0
• 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

Attention investors! This two bedroom, one bathroom home features updated luxury vinyl plank, hardwood floors, and carpet. Laundry hook-ups are available in the mudroom. The home is currently occupied by long-term tenants. This turn-key property will make a great addition to any portfolio!

Key facts

• 4,200 sq ft lot
• Built 1922
• Listed 136 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $67 ($808/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $84k (13.8% below list).
• Recommended offer: $84k (13.8% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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 D — 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: 97 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 $678 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y 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 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,463 (13.8% below list)

Questions for the listing agent

1. It's been on market 137 days. Have you received any prior offers? Is the seller open to a 14% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.86% ✗
• Cap rate: 7.12%
• Cash-on-cash: 2.95%
• DSCR: 1.13
• GRM: 9.7

CMA / ARV

• ARV (median comp): $109,850
• List price: $98,000
• Delta: -10.79%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2629 Faraon St	0.34mi	3/1.0 (+1)	676 (+4%)	15mo	$70,000	$104	60
519 S 19th St	0.39mi	2/1.0	696 (+7%)	12mo	$52,900	$76	59
305 N 27th St	0.32mi	1/1.0 (-1)	588 (-9%)	9mo	$89,750	$153	57
3015 Edmond St	0.63mi	2/1.0	700 (+8%)	2mo	$105,000	$150	55
717 S 17th St	0.57mi	2/1.0	716 (+10%)	3mo	$114,500	$160	53
3120 Charles St	0.75mi	2/1.0	672 (+4%)	17mo	$110,000	$164	45
2327 Seneca St	0.55mi	2/1.0	700 (+8%)	20mo	$115,000	$164	44

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: -11.7%
• Equity multiple: 0.58×
• Total profit: $-11,625
• Equity at exit: $14,612

10-year hold

• IRR: -2.6%
• Equity multiple: 0.83×
• Total profit: $-4,740
• Equity at exit: $8,473

Cash invested: $27,440 (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 64501

• Active inventory: 97
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $845 high
• Mortgage (P&I): −$514
• Tax from tax record: −$45 /mo · $542/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $67

Break-even live

Break-even rent $759

Max offer price $98,000

Occupancy floor 87%

Sensitivity live

Price	-10% $123	-5% $95	+0% $67	+5% $40	+10% $12
Rent	-10% $1	-5% $34	+0% $67	+5% $101	+10% $134
Rate	-1.0pp $117	-0.5pp $92	base $67	+0.5pp $42	+1.0pp $16

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
425 N 11th St Unit 104 St Joseph, MO	1.0	1.0	400	$750	$1.88	44d	1	0.89mi
201 S 10th St Saint Joseph, MO	2.0	1.0	600	$1,000	$1.67	44d	1	0.89mi
1015 Faraon St St Joseph, MO	1.0	1.0	743	$820	$1.10	44d	1	0.91mi
1106 Olive St Saint Joseph, MO	2.0	1.0	700	$725	$1.04	44d	1	0.93mi
516 N 10th St Saint Joseph, MO	1.0–2.0	1.0	700	$900	$1.29	44d	1	1.02mi
809 Hall St Unit B St Joseph, MO	1.0	1.0	750	$850	$1.13	44d	1	1.17mi

Listing history 20 events

1. 2026-06-09
   days on market $98,000 Active 137 DOM
2. 2026-06-08
   days on market $98,000 Active 136 DOM
3. 2026-06-07
   days on market $98,000 Active 135 DOM
4. 2026-06-03
   days on market $98,000 Active 131 DOM
5. 2026-06-02
   days on market $98,000 Active 130 DOM
6. 2026-06-01
   days on market $98,000 Active 129 DOM
7. 2026-05-31
   days on market $98,000 Active 128 DOM
8. 2026-05-30
   days on market $98,000 Active 127 DOM
9. 2026-03-13
   price $98,000 290-char remark

   Show marketing remark (290 chars)

   Attention investors! This two bedroom, one bathroom home features updated luxury vinyl plank, hardwood floors, and carpet. Laundry hook-ups are available in the mudroom. The home is currently occupied by long-term tenants. This turn-key property will make a great addition to any portfolio!

10. 2026-01-23
    listed $100,000 Active 290-char remark

    Show marketing remark (290 chars)

    Attention investors! This two bedroom, one bathroom home features updated luxury vinyl plank, hardwood floors, and carpet. Laundry hook-ups are available in the mudroom. The home is currently occupied by long-term tenants. This turn-key property will make a great addition to any portfolio!

11. 2024-07-20
    historical $900
12. 2024-07-11
    listed $900
13. 2024-04-13
    historical $850
14. 2024-04-12
    listed $850
15. 2024-04-10
    historical $850
16. 2024-03-30
    listed $850
17. 2019-03-05
    soldstatus 237-char remark

    Show marketing remark (237 chars)

    A great starter home, Retirement home, fixer upper home or Rental etc. . The roof is 10-15 years, some newer windows, siding, hardwood floors, possible 3rd bedroom easily , Eat in kitchen , off street parking, fenced back and front yard.

18. 2019-03-05
    soldstatus

    Show marketing remark (237 chars)

    A great starter home, Retirement home, fixer upper home or Rental etc. . The roof is 10-15 years, some newer windows, siding, hardwood floors, possible 3rd bedroom easily , Eat in kitchen , off street parking, fenced back and front yard.

19. 2019-02-26
    listed $20,000 237-char remark

    Show marketing remark (237 chars)

    A great starter home, Retirement home, fixer upper home or Rental etc. . The roof is 10-15 years, some newer windows, siding, hardwood floors, possible 3rd bedroom easily , Eat in kitchen , off street parking, fenced back and front yard.

20. 1984-11-07
    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: $542 · $45/mo
• Projected year-2 tax: $951 · $79/mo
• Expected delta: +$409/yr (+$34/mo · 75.5%)

ⓘ 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: $10,136
• − Mortgage interest: −$5,490
• − Property taxes: −$542
• − Insurance: −$490
• − Repairs & maintenance: −$811
• − Management: −$811
• − Depreciation: −$2,851
• Taxable loss: −$858
• Est. tax savings @ 24.0%: +$206
• After-tax cash flow: $1,014/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
• County: Buchanan County · 32,150 people
• City population: 44,382
• Metro: St. Joseph, MO-KS
• Population (ZIP): 10,689
• Household income: $46,731
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 721.0

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 (69%)
• Race & ethnicity: White 69% Black 12% Hispanic / Latino 11% Two or more races 9%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Italian 3% Romanian 1% Slovak 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 89% English-only · Spanish 7% Arabic 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: ▼ -150.20%
• Current HPI: 157.8706
• Rent YoY: —
• Metro: St. Joseph, MO-KS
• 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

+390.0% since first listed

12 events — show timeline

• 2026-03-13 Price Changed $98,000 Heartland MLS as Distributed by MLS Grid
• 2026-01-23 Listed $100,000 Heartland MLS as Distributed by MLS Grid
• 2024-07-20 Rental Removed $900 APPFOLIO
• 2024-07-11 Listed for Rent $900 APPFOLIO
• 2024-04-13 Rental Removed $850 APPFOLIO
• 2024-04-12 Listed for Rent $850 APPFOLIO
• 2024-04-10 Rental Removed $850 APPFOLIO
• 2024-03-30 Listed for Rent $850 APPFOLIO
• 2019-03-05 Sold (Public Records) — Public Records
• 2019-03-05 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2019-02-26 Listed $20,000 Heartland MLS as Distributed by MLS Grid
• 1984-11-07 Sold (Public Records) — Public Records

Property tax history

+0.4%/yr

Latest (2025): $542 · -7.4% YoY. Source: county tax records.