906 S 11th St · St. Joseph, MO 64503

$69,900

3 bd · None ba · 1,276 sqft · MultiFamily public records · 104 Days on market

Built 1881 6,534 sqft lot Est $126k · 44% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Check out this fixer upper with current stream of income. .. .the upstairs unit is occupied with a lease at $600/month while the downstairs needs some updates and then could be rented for $859-900/month. A rare opportunity to earn some quick sweat equity on an investment property while receiving income!

Key facts

• 6,534 sq ft lot
• Built 1881
• Listed 104 days

🏷️ Possibly a rental listed for sale. The $69,900 price doesn't fit this home's estimated sale value (~$125,555) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/?-bath multifamily listed at $70k.

Deal economics

• At list price, monthly cash flow is $823 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 20.4% 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: 89 active listings in the ZIP; 7 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 $483 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 104 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 1881 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,609 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1881 — 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. 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.
6. 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.
7. 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: 2.27% ✓
• Cap rate: 20.42%
• Cash-on-cash: 50.44%
• DSCR: 3.24
• GRM: 3.7

CMA / ARV

• ARV (median comp): $125,555
• List price: $69,900
• Delta: -44.33%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 48.2%
• Equity multiple: 3.10×
• Total profit: $41,059
• Equity at exit: $10,422

10-year hold

• IRR: 53.8%
• Equity multiple: 6.27×
• Total profit: $103,189
• Equity at exit: $6,044

Cash invested: $19,572 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,589 high
• Mortgage (P&I): −$367
• Tax from tax record: −$37 /mo · $444/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $823

Break-even live

Break-even rent $548

Max offer price $69,900

Occupancy floor 43%

Sensitivity live

Price	-10% $862	-5% $842	+0% $823	+5% $803	+10% $783
Rent	-10% $697	-5% $760	+0% $823	+5% $885	+10% $948
Rate	-1.0pp $858	-0.5pp $840	base $823	+0.5pp $804	+1.0pp $786

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,588
Total (2 units)			$1,589

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1300 S 11th St Apt 603 St Joseph, MO	2.0	2.0	1176	$910	$0.77	44d	1	0.27mi
1300 S 11th St Apt 605 St Joseph, MO	2.0	2.0	1141	$940	$0.82	44d	1	0.27mi
303 S 13th St St Joseph, MO	3.0	1.5	1000	$950	$0.95	44d	1	0.43mi
516 N 10th St Saint Joseph, MO	1.0–2.0	1.0	700	$900	$1.29	44d	1	0.82mi
1616 S 25th St Saint Joseph, MO	3.0	1.0	1500	$1,300	$0.87	44d	1	1.01mi
2408 Jules St Saint Joseph, MO	2.0	1.0	1032	$1,100	$1.07	44d	1	1.05mi
917 N 24th St Unit 1 St Joseph, MO	2.0	1.0	933	$925	$0.99	44d	1	1.41mi

Listing history 11 events

1. 2026-06-03
   days on market $69,900 Active 104 DOM
2. 2026-06-02
   days on market $69,900 Active 103 DOM
3. 2026-06-01
   days on market $69,900 Active 102 DOM
4. 2026-05-31
   days on market $69,900 Active 101 DOM
5. 2026-05-30
   days on market $69,900 Active 100 DOM
6. 2026-02-19
   listed $69,900 Active 304-char remark

   Show marketing remark (304 chars)

   Check out this fixer upper with current stream of income. .. .the upstairs unit is occupied with a lease at $600/month while the downstairs needs some updates and then could be rented for $859-900/month. A rare opportunity to earn some quick sweat equity on an investment property while receiving income!

7. 2021-03-22
   status Pending 346-char remark

   Show marketing remark (346 chars)

   motivated to sell. Great cash flow opportunity with an outstanding cap rate! Investor is liquidating--purchase this property or the entire package! Please do not disturb the tenants, all showings requests must include proof of funds and be coordinated with the listing agent. All property information to be verified by buyer and/or buyer's agent.

8. 2021-03-22
   historical 346-char remark

   Show marketing remark (346 chars)

   motivated to sell. Great cash flow opportunity with an outstanding cap rate! Investor is liquidating--purchase this property or the entire package! Please do not disturb the tenants, all showings requests must include proof of funds and be coordinated with the listing agent. All property information to be verified by buyer and/or buyer's agent.

9. 2020-10-02
   listed $62,000 Active 346-char remark

   Show marketing remark (346 chars)

   motivated to sell. Great cash flow opportunity with an outstanding cap rate! Investor is liquidating--purchase this property or the entire package! Please do not disturb the tenants, all showings requests must include proof of funds and be coordinated with the listing agent. All property information to be verified by buyer and/or buyer's agent.

10. 2016-06-02
    listed $39,900
11. 1974-02-18
    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: $444 · $37/mo
• Projected year-2 tax: $678 · $57/mo
• Expected delta: +$234/yr (+$19/mo · 52.7%)

ⓘ 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 2/10 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: $19,068
• − Mortgage interest: −$3,915
• − Property taxes: −$444
• − Insurance: −$350
• − Repairs & maintenance: −$1,525
• − Management: −$1,525
• − Depreciation: −$2,033
• Taxable income: $9,275
• Est. tax owed @ 24.0%: −$2,226
• After-tax cash flow: $7,645/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

+75.2% since first listed

6 events — show timeline

• 2026-02-19 Listed $69,900 Heartland MLS as Distributed by MLS Grid
• 2021-03-22 Pending — Heartland MLS as Distributed by MLS Grid
• 2021-03-22 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2020-10-02 Listed $62,000 Heartland MLS as Distributed by MLS Grid
• 2016-06-02 Listed $39,900 Heartland MLS as Distributed by MLS Grid
• 1974-02-18 Sold (Public Records) — Public Records

Property tax history

+2.7%/yr

Latest (2024): $444 · +48.9% YoY. Source: county tax records.