6145 Pershing Ave · St. Louis, MO 63112

$449,000

12 bd · 2.0 ba · 2,866 sqft · MultiFamily public records · 1 Days on market

Built 1909 4,939 sqft lot Est $450k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.6/15.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

ONCE IN A LIFETIME OPPORTUNITY TO OWN A BUILDING IN THIS BLOCK OF PERSHING. BUILDING IS BEING OFFERED AT A TRUE 9% CAP RATE WITH OPPORTUNITY TO RAISE RENTS. THIS IS THE GOOSE THAT LAYS THE GOLDEN EGG!! ONLY A BLOCK TO WASHINGTON UNIVERSITY MAIN CAMPUS & NEXT TO METROLINK STATION. ALSO RIGHT NEXT TO WASH U'S BUILDING WHERE KAYAK CAFÉ IS LOCATED. SURROUNDED BY UNIVERSITY OWNED BUILDINGS, THIS IS AS GOOD AS RENTAL PROPERTY GETS. THOSE OF YOU WHO OWN RENTAL PROPERTY, WILL APPRECIATE THE FACT THAT THIS BUILDING HAS NEVER BEEN VACANT FOR EVEN A SINGLE DAY SINCE OWNERSHIP BEGAN. TYPICALLY APARTMENTS ARE RESERVED AT LEAST 6 MONTHS IN ADVANCE. RENTS RISE EVERY SINGLE YEAR. IF YOU ASK OTHER APARTMENT OWNERS UP & DOWN THE STREET YOU'LL FIND THE SAME SITUATIONS IN THIS FIRST BLOCK. CENTRAL FURNACE & CENTRAL AIR. BOTH UNITS HAVE DECKS OFF THE BACK OF THE BUILDING. KITCHENS HAVE DISHWASHERS. HARDWOOD FLOORS. BUILDING HAS 4 OFF STREET PARKING SPOTS, GROSS YEARLY INCOME IS $45,180.

Key facts

• 4,939 sq ft lot
• 4 parking spots
• Built 1909

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/1.0-bath units multifamily listed at $449k.

Deal economics

• At list price, monthly cash flow is $3k ($39k/yr) — positive. Per door: $804/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $449k).
• Cap rate 14.9% vs local median 5.0% in St. Louis — 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. Louis City (urban): math 10% / reading 18% proficiency, ranked #312 of 324 in MO (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hamilton Elem. Community Ed. (math 2% / reading 8%, grade F, #1,072 of 1,115 statewide, top 98%, 253 students, 99% FRL); Sumner High (math 2% / reading 2%, grade F, #520 of 521 statewide, top 100%, 264 students, 99% FRL) — zoned schools average 99% FRL vs 80% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.4%/yr); 118 active listings in the ZIP; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• At $7,977/mo this rent would consume 210% of the median local household income ($46k/yr) (locally 1457% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• St. Louis 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 + 2.4% rent growth), your $126k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y 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.
• Current owner paid $370k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $449,000

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 1909 — 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: 1.78% ✓
• Cap rate: 14.89%
• Cash-on-cash: 30.69%
• DSCR: 2.37
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $449,962
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6145 Pershing Ave	0.00mi	12/4.0	2,866 (0%)	1mo	$449,000	$157	92
6141 Pershing Ave	0.01mi	12/4.0	3,066 (+7%)	2mo	$430,000	$140	78

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 · 2.39% rent growth · sell at horizon

5-year hold

• IRR: 24.7%
• Equity multiple: 2.01×
• Total profit: $127,249
• Equity at exit: $66,947

10-year hold

• IRR: 32.1%
• Equity multiple: 3.83×
• Total profit: $355,194
• Equity at exit: $38,821

Cash invested: $125,720 (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 63112

• Rents YoY: 2.4%
• Active inventory: 118
• Price-to-rent: 18.8×

Monthly cashflow live

• Estimated rent: $7,977 high
• Mortgage (P&I): −$2,355
• Tax from tax record: −$545 /mo · $6,542/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,675
• Net cashflow: $3,215

Break-even live

Break-even rent $3,907

Max offer price $449,000

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	1	$7,976
Total (4 units)			$7,977

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-03-29
   status Pending
2. 2026-03-29
   listed $449,000 Active
3. 2026-03-28
   historical $449,000
4. 2014-09-25
   soldstatus $370,000
5. 2014-09-24
   soldstatus 1002-char remark

   Show marketing remark (1002 chars)

   ONCE IN A LIFETIME OPPORTUNITY TO OWN A BUILDING IN THIS BLOCK OF PERSHING. BUILDING IS BEING OFFERED AT A TRUE 9% CAP RATE WITH OPPORTUNITY TO RAISE RENTS. THIS IS THE GOOSE THAT LAYS THE GOLDEN EGG!! ONLY A BLOCK TO WASHINGTON UNIVERSITY MAIN CAMPUS & NEXT TO METROLINK STATION. ALSO RIGHT NEXT TO WASH U'S BUILDING WHERE KAYAK CAFÉ IS LOCATED. SURROUNDED BY UNIVERSITY OWNED BUILDINGS, THIS IS AS GOOD AS RENTAL PROPERTY GETS. THOSE OF YOU WHO OWN RENTAL PROPERTY, WILL APPRECIATE THE FACT THAT THIS BUILDING HAS NEVER BEEN VACANT FOR EVEN A SINGLE DAY SINCE OWNERSHIP BEGAN. TYPICALLY APARTMENTS ARE RESERVED AT LEAST 6 MONTHS IN ADVANCE. RENTS RISE EVERY SINGLE YEAR. IF YOU ASK OTHER APARTMENT OWNERS UP & DOWN THE STREET YOU'LL FIND THE SAME SITUATIONS IN THIS FIRST BLOCK. CENTRAL FURNACE & CENTRAL AIR. BOTH UNITS HAVE DECKS OFF THE BACK OF THE BUILDING. KITCHENS HAVE DISHWASHERS. HARDWOOD FLOORS. BUILDING HAS 4 OFF STREET PARKING SPOTS, GROSS YEARLY INCOME IS $45,180.

6. 2014-08-14
   listed $399,000 1002-char remark

   Show marketing remark (1002 chars)

   ONCE IN A LIFETIME OPPORTUNITY TO OWN A BUILDING IN THIS BLOCK OF PERSHING. BUILDING IS BEING OFFERED AT A TRUE 9% CAP RATE WITH OPPORTUNITY TO RAISE RENTS. THIS IS THE GOOSE THAT LAYS THE GOLDEN EGG!! ONLY A BLOCK TO WASHINGTON UNIVERSITY MAIN CAMPUS & NEXT TO METROLINK STATION. ALSO RIGHT NEXT TO WASH U'S BUILDING WHERE KAYAK CAFÉ IS LOCATED. SURROUNDED BY UNIVERSITY OWNED BUILDINGS, THIS IS AS GOOD AS RENTAL PROPERTY GETS. THOSE OF YOU WHO OWN RENTAL PROPERTY, WILL APPRECIATE THE FACT THAT THIS BUILDING HAS NEVER BEEN VACANT FOR EVEN A SINGLE DAY SINCE OWNERSHIP BEGAN. TYPICALLY APARTMENTS ARE RESERVED AT LEAST 6 MONTHS IN ADVANCE. RENTS RISE EVERY SINGLE YEAR. IF YOU ASK OTHER APARTMENT OWNERS UP & DOWN THE STREET YOU'LL FIND THE SAME SITUATIONS IN THIS FIRST BLOCK. CENTRAL FURNACE & CENTRAL AIR. BOTH UNITS HAVE DECKS OFF THE BACK OF THE BUILDING. KITCHENS HAVE DISHWASHERS. HARDWOOD FLOORS. BUILDING HAS 4 OFF STREET PARKING SPOTS, GROSS YEARLY INCOME IS $45,180.

7. 2009-04-08
   soldstatus $197,000
8. 2006-04-17
   soldstatus $192,000

ⓘ 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: $6,542 · $545/mo
• Projected year-2 tax: $6,542 · $545/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $95,724
• − Mortgage interest: −$25,151
• − Property taxes: −$6,542
• − Insurance: −$2,245
• − Repairs & maintenance: −$7,658
• − Management: −$7,658
• − Depreciation: −$13,062
• Taxable income: $33,408
• Est. tax owed @ 24.0%: −$8,018
• After-tax cash flow: $30,562/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. Louis City
• NCES district ID: 2929280
• Math proficiency: 10% ▼ -6.00%
• Reading proficiency: 18% ▼ -3.00%
• Median HH income: $35,685
• Composite: 11.54/100
• National rank: #9699
• State rank: #312 of 324 in MO

Livability — St. Louis

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Louis, MO
• County: Saint Louis City · 254,015 people
• City population: 283,259
• Metro: St. Louis, MO-IL
• Population (ZIP): 17,985
• Household income: $45,542
• Rent vs Own: 64.1% rent · 35.9% own
• Severe rent burden: 1457.0

Population outlook (St. Louis County) Hauer SSP2

• Today (2025): 315,737 people
• By 2030: 313,865 · -0.6%
• By 2040: 305,439 · -3.3%
• By 2050: 296,529 · -6.1%
• By 2075: 271,028 · -14.2%
• By 2100: 255,359 · -19.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (63%)
• Race & ethnicity: Black 63% White 24% Asian 6% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Lithuanian 1% Scotch-Irish 1% Romanian 1%
• Foreign-born: 9% · China, South Korea, Canada
• Languages at home: 88% English-only · Spanish 3% Chinese 2% Korean 2%

Political lean MEDSL · St. Louis

• 2024 margin: Solid D (+64.7) · D 81.4% · R 16.7% · Other 2.0%
• 2008→2024 swing: -3.5pp toward R · 2008: 68.2pp · 2024: 64.7pp
• All cycles: 2024: D+64.7 2020: D+66.2 2016: D+63.7 2012: D+66.6 2008: D+68.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -158.94%
• Current HPI: 115.1863
• Rent YoY: ▲ 2.39%
• Metro: St. Louis, MO-IL
• 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

+133.9% since first listed

8 events — show timeline

• 2026-03-29 Pending — MARIS as Distributed by MLS Grid
• 2026-03-29 Listed $449,000 MARIS as Distributed by MLS Grid
• 2026-03-28 Coming Soon $449,000 MARIS as Distributed by MLS Grid
• 2014-09-25 Sold (Public Records) $370,000 Public Records
• 2014-09-24 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2014-08-14 Listed $399,000 MARIS as Distributed by MLS Grid
• 2009-04-08 Sold (Public Records) $197,000 Public Records
• 2006-04-17 Sold (Public Records) $192,000 Public Records

Property tax history

+14.0%/yr

Latest (2024): $6,542 · +5.1% YoY. Source: county tax records.