3010 Felix St · St. Joseph, MO 64501

$120,000

4 bd · 2.0 ba · 1,342 sqft · MultiFamily public records · 3 Days on market

Built 1922 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
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• 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 MLS

The sale of this property is made on an "as-is", "where-is" and "with all faults" basis & seller makes no warranty or representation, express or implied, or arising by operation of law, including but not limited to , any warranty of condition, title, hability, merchantability or fitness for a particular purpose with respect to the property or any portion thereof. Side-by-side 1-story duplex, garage, covered porch, covered deck, fenced backyard, separate entry, shared basement.

Key facts

• 6,098 sq ft lot
• Garage
• Built 1922

Property features AI

Finance

• Other: Not in a flood plain; Lot roughly 0.14 acres (dimensions 50 x 112)
• Financial info: Gross income reported as $10,200; Operating expenses include water/sewer and other items
• HOA & community:

Exterior

• Parking: Off-street parking; Includes a garage
• Security:
• Utilities: Public water; Public sewer; Separate meters for units
• Home design: Duplex (residential income property); Single-story building; Zoned R4
• Construction: Vinyl siding; Composition roof
• Exterior features: Front porch; Fenced yard; Paved public road access

Interior

• Kitchen:
• Bedrooms: Two 2-bedroom units (each unit listed as 2-bedroom)
• Flooring:
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Natural gas heating; Electric cooling (central cooling present)
• Interior features: Basement present; Inside laundry
• Laundry & utility: Laundry located inside units

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $120k.

Deal economics

• At list price, monthly cash flow is $520 ($6k/yr) — positive. Per door: $260/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 11.5% 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: 97 active listings in the ZIP; 3 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).
• This rent runs 42% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 22y ago; this cycle's ask has dropped $25k (17%) 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 $120,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.36% ✓
• Cap rate: 11.50%
• Cash-on-cash: 18.59%
• DSCR: 1.83
• GRM: 6.1

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: 10.3%
• Equity multiple: 1.41×
• Total profit: $13,690
• Equity at exit: $17,892

10-year hold

• IRR: 19.4%
• Equity multiple: 2.62×
• Total profit: $54,557
• Equity at exit: $10,375

Cash invested: $33,600 (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: 12.2×

Monthly cashflow live

• Estimated rent: $1,634 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$91 /mo · $1,094/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $520

Break-even live

Break-even rent $975

Max offer price $120,000

Occupancy floor 63%

Sensitivity live

Price	-10% $588	-5% $554	+0% $520	+5% $486	+10% $453
Rent	-10% $391	-5% $456	+0% $520	+5% $585	+10% $650
Rate	-1.0pp $581	-0.5pp $551	base $520	+0.5pp $489	+1.0pp $458

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,634
Total (2 units)			$1,634

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2901 Frederick Ave Saint Joseph, MO	2.0–3.0	1.0	900	$1,000	$1.11	44d	1	0.80mi
1616 S 25th St Saint Joseph, MO	3.0	1.0	1500	$1,300	$0.87	44d	1	1.21mi
303 S 13th St St Joseph, MO	3.0	1.5	1000	$950	$0.95	44d	1	1.34mi

Listing history 8 events

1. 2026-06-19
   days on market $120,000 Active 3 DOM
2. 2026-06-18
   days on market $120,000 Active 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   statusdays on market $120,000 Active 1 DOM
5. 2026-06-16
   days on market $120,000 Coming Soon 5 DOM
6. 2026-06-15
   days on market $120,000 Coming Soon 4 DOM
7. 2026-06-14
   days on market $120,000 Coming Soon 2 DOM
8. 2026-06-12
   listed $120,000 Coming Soon 1 DOM

ⓘ 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: $1,094 · $91/mo
• Projected year-2 tax: $1,164 · $97/mo
• Expected delta: +$70/yr (+$6/mo · 6.4%)

ⓘ 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: $19,608
• − Mortgage interest: −$6,722
• − Property taxes: −$1,094
• − Insurance: −$600
• − Repairs & maintenance: −$1,569
• − Management: −$1,569
• − Depreciation: −$3,491
• Taxable income: $4,564
• Est. tax owed @ 24.0%: −$1,095
• After-tax cash flow: $5,150/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

+54.8% since first listed

20 events — show timeline

• 2026-06-11 Coming Soon $120,000 Heartland MLS as Distributed by MLS Grid
• 2024-09-08 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2024-07-29 Relisted — Heartland MLS as Distributed by MLS Grid
• 2024-07-24 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2024-07-13 Pending — Heartland MLS as Distributed by MLS Grid
• 2024-06-27 Price Changed $139,000 Heartland MLS as Distributed by MLS Grid
• 2024-05-16 Listed $145,000 Heartland MLS as Distributed by MLS Grid
• 2021-05-28 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2021-05-14 Pending — Heartland MLS as Distributed by MLS Grid
• 2021-04-27 Listed $63,000 Heartland MLS as Distributed by MLS Grid
• 2016-11-01 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2016-10-05 Listed $625 Heartland MLS as Distributed by MLS Grid
• 2010-08-01 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2010-08-01 Listing Removed — Heartland MLS as Distributed by MLS Grid
• 2009-08-11 Listed $84,900 Heartland MLS as Distributed by MLS Grid
• 2009-08-01 Listed $84,900 Heartland MLS as Distributed by MLS Grid
• 2008-01-04 Sold (Public Records) — Public Records
• 2005-03-02 Sold (MLS) — Heartland MLS as Distributed by MLS Grid
• 2004-11-17 Listed $77,500 Heartland MLS as Distributed by MLS Grid
• 2003-08-01 Sold (Public Records) — Public Records

Property tax history

+1.0%/yr

Latest (2025): $1,094 · +6.2% YoY. Source: county tax records.