1520 Washington Ave Unit R511 · St. Louis, MO 63103

$112,900

2 bd · 1.0 ba · 1,186 sqft · Condo public records · 310 Days on market

Built 1906 $95/sqft · 15% below area Est $134k · 15% under $243/mo HOA · 16% of rent ↓ 8% since listing

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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 +21.4/30.0
• ARV discount +14.4/15.0
• 1% rule +8.2/10.0
• DSCR +6.8/10.0
• Appreciation +5.3/10.0
• Rent growth +4.8/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

Experience the perfect blend of historic charm and modern living in this stunning 2-bedroom, 1-bath loft in the iconic 1906 Ely Walker building in Downtown St. Louis. Originally home to the Ely & Walker Dry Goods Company, this Classical Revival landmark was designed by the notable St. Louis firm Eames & Young and is part of the Washington Avenue Historic District. Its impressive brick and decorative terracotta façade set the tone for the character within. Soaring ceilings, expansive windows, and original hardwood floors create an open, airy feel, while exposed brick and ductwork add urban edge. From the living room, enjoy a view of the Gateway Arch—a daily reminder you’re in the heart of the city. The living area flows into the kitchen with granite counters and a breakfast bar, ideal for casual dining or entertaining. Both bedrooms offer closet storage, and in-unit laundry adds convenience. Amenities include a rooftop deck with sweeping skyline views, clubhouse, fitness center, BBQ area, and secure garage parking. Walk to dining, nightlife, boutique shopping, City Museum, Cardinals baseball, Blues hockey, St. Louis City SC soccer, concerts, and festivals, with quick access to highways. HOA covers water, sewer, trash, parking, building insurance, and more. One assigned garage space included. Don’t miss the immersive 3D Matterport tour—schedule your showing today! Perfect for those seeking a vibrant urban lifestyle surrounded by history and culture. CASH OR VA LOANS ONLY

Key facts

• Ductwork
• Ely walker building
• Exposed brick

Tags

• ELY WALKER BUILDING
• SOARING CEILINGS
• EXPANSIVE WINDOWS
• ORIGINAL HARDWOOD FLOORS
• EXPOSED BRICK
• DUCTWORK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $113k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $113k).
• Recommended offer: $99k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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.
• Market conditions: Rents rising fast (+9.2%/yr); 70 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• This rent runs 44% of the median local income ($41k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $2k of equity ($781 loan paydown + $750 appreciation (0.7% local appreciation)).
• 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 (0.7% appreciation + 8.0% rent growth), your $32k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 310 days — a 12% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $7k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1906 — 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 $99,352 (12.0% below list)

Questions for the listing agent

1. It's been on market 310 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.32% ✓
• Cap rate: 8.07%
• Cash-on-cash: 6.34%
• DSCR: 1.28
• GRM: 6.3

CMA / ARV

• ARV (median comp): $133,517
• List price: $112,900
• Delta: -15.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

0.66% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 11.5%
• Equity multiple: 1.60×
• Total profit: $18,982
• Equity at exit: $36,583

10-year hold

• IRR: 19.4%
• Equity multiple: 3.72×
• Total profit: $85,848
• Equity at exit: $47,136

Cash invested: $31,612 (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 63103

• Home prices YoY: 0.6%
• Rents YoY: 9.2%
• Active inventory: 70
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,496 high
• Mortgage (P&I): −$592
• Tax from tax record: −$132 /mo · $1,588/yr
• Insurance: −$47
• HOA: −$243
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $167

Break-even live

Break-even rent $1,284

Max offer price $112,900

Occupancy floor 84%

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: $28,225
• Closing costs: $3,387
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1531 Washington Ave St. Louis, MO	1.0–2.0	1.0	656	$1,609	$2.45	1d	5	0.04mi
1627 Washington Ave Apt 503 St. Louis, MO	2.0	2.0	1400	$1,750	$1.25	43d	1	0.05mi
1627 Washington Ave Unit 202 St. Louis, MO	2.0	1.0	1450	$1,625	$1.12	43d	1	0.05mi
1635 Washington Ave Saint Louis, MO	1.0–2.0	1.0	1135	$1,495	$1.32	3d	4	0.06mi
1501 Locust St Saint Louis, MO	1.0	1.0	1002	$1,200	$1.20	43d	1	0.09mi
1709 Washington Ave St. Louis, MO	1.0	1.5	1200	$1,200	$1.00	16d	1	0.10mi
1706 Washington Ave St. Louis, MO	1.0–2.0	1.0–2.0	997	$1,761	$1.77	1d	10	0.11mi
1800 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	927	$1,645	$1.77	43d	13	0.18mi
1307 Washington Ave St. Louis, MO	1.0–2.0	1.0	1261	$1,485	$1.18	7d	17	0.19mi
1717 Olive St Saint Louis, MO	2.0	1.0–2.0	957	$2,982	$3.12	1d	64	0.20mi
1815 Locust St Saint Louis, MO	1.0–2.0	1.0–2.0	983	$1,543	$1.57	43d	7	0.22mi
1405 Pine St St. Louis, MO	2.0	2.0	1020	$1,240	$1.22	3d	1	0.23mi
1901 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	1076	$1,500	$1.39	4d	38	0.24mi
110 N 17th St Saint Louis, MO	2.0	1.0	653	$1,095	$1.68	7d	1	0.24mi
1300 Convention Plz Saint Louis, MO	2.0	1.0	877	$1,350	$1.54	43d	1	0.25mi
1209 Washington Ave Saint Louis, MO	1.0–2.0	1.5–2.0	1483	$2,190	$1.48	1d	22	0.27mi
1900 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	960	$1,650	$1.72	2d	12	0.27mi
1226 Olive St St. Louis, MO	1.0–2.0	1.0–2.0	1157	$1,700	$1.47	1d	2	0.29mi
1133 Washington Ave St. Louis, MO	2.0	1.0–2.0	637	$1,292	$2.03	43d	1	0.32mi
300 N Tucker Blvd St. Louis, MO	1.0–2.0	1.0–2.0	1013	$1,875	$1.85	1d	10	0.34mi
300 N Tucker Blvd Apt 406 St. Louis, MO	1.0	1.0	834	$1,250	$1.50	14d	1	0.35mi
1110 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	1006	$1,426	$1.42	2d	19	0.37mi
2034 Lucas Ave St. Louis, MO	1.0–2.0	1.0	1080	$1,525	$1.41	43d	1	0.39mi
715 N 21st St St. Louis, MO	1.0–2.0	1.0–2.0	900	$1,355	$1.51	23d	1	0.42mi
1000 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	959	$1,950	$2.03	1d	24	0.43mi
1014 Locust St Saint Louis, MO	1.0–2.0	1.0–2.0	1110	$2,070	$1.86	1d	2	0.43mi
1006 Olive St Unit 702 St. Louis, MO	2.0	2.0	1400	$1,600	$1.14	43d	1	0.46mi
1115 Carr St St. Louis, MO	1.0–2.0	1.0	747	$1,123	$1.50	4d	13	0.49mi
917 Locust St St. Louis, MO	1.0	1.0	683	$1,305	$1.91	16d	3	0.49mi
2200 Locust St Saint Louis, MO	1.0–2.0	1.0–1.5	862	$1,695	$1.97	3d	6	0.49mi
2206 Lucas Ave St. Louis, MO	1.0–2.0	1.0–2.0	1047	$1,900	$1.81	1d	20	0.50mi
2217 Locust St Saint Louis, MO	2.0	2.0	830	$1,475	$1.78	43d	1	0.51mi
416 N 23rd St St. Louis, MO	1.0–2.0	1.0	780	$1,775	$2.28	4d	23	0.54mi
1111 Biddle St Saint Louis, MO	2.0	1.0	1200	$1,295	$1.08	43d	1	0.55mi
206 N 9th St Unit 712 St. Louis, MO	1.0	1.0	783	$925	$1.18	7d	1	0.56mi
206 N 9th St Unit 916 St. Louis, MO	2.0	2.0	914	$1,250	$1.37	23d	1	0.56mi
206 N 9th St Unit 1306 St. Louis, MO	2.0	2.0	897	$1,250	$1.39	43d	1	0.56mi
206 N 9th St Unit 1207 St. Louis, MO	2.0	1.0	843	$1,100	$1.30	43d	1	0.56mi
206 N 9th St Unit 509 St. Louis, MO	1.0	1.0	701	$925	$1.32	43d	1	0.56mi
206 N 9th St Unit 307 St. Louis, MO	2.0	1.0	897	$1,100	$1.23	4d	1	0.56mi

HOA detail condo

• Monthly dues: $243 · $2,916/yr
• Likely covers: watersewertrashinsurancegym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-15
   statusdays on market $112,900 Pending 310 DOM
2. 2026-06-13
   days on market $112,900 Active 309 DOM
3. 2026-06-09
   days on market $112,900 Active 305 DOM
4. 2026-06-08
   days on market $112,900 Active 304 DOM
5. 2026-06-08
   days on market $112,900 Active 303 DOM
6. 2026-06-05
   days on market $112,900 Active 300 DOM
7. 2026-06-03
   days on market $112,900 Active 299 DOM
8. 2026-06-02
   days on market $112,900 Active 298 DOM
9. 2026-06-01
   days on market $112,900 Active 297 DOM
10. 2026-06-01
    days on market $112,900 Active 296 DOM
11. 2026-02-20
    price $112,900 1532-char remark

    Show marketing remark (1532 chars)

    Experience the perfect blend of historic charm and modern living in this stunning 2-bedroom, 1-bath loft in the iconic 1906 Ely Walker building in Downtown St. Louis. Originally home to the Ely & Walker Dry Goods Company, this Classical Revival landmark was designed by the notable St. Louis firm Eames & Young and is part of the Washington Avenue Historic District. Its impressive brick and decorative terracotta façade set the tone for the character within. Soaring ceilings, expansive windows, and original hardwood floors create an open, airy feel, while exposed brick and ductwork add urban edge. From the living room, enjoy a view of the Gateway Arch—a daily reminder you’re in the heart of the city. The living area flows into the kitchen with granite counters and a breakfast bar, ideal for casual dining or entertaining. Both bedrooms offer closet storage, and in-unit laundry adds convenience. Amenities include a rooftop deck with sweeping skyline views, clubhouse, fitness center, BBQ area, and secure garage parking. Walk to dining, nightlife, boutique shopping, City Museum, Cardinals baseball, Blues hockey, St. Louis City SC soccer, concerts, and festivals, with quick access to highways. HOA covers water, sewer, trash, parking, building insurance, and more. One assigned garage space included. Don’t miss the immersive 3D Matterport tour—schedule your showing today! Perfect for those seeking a vibrant urban lifestyle surrounded by history and culture. CASH OR VA LOANS ONLY

12. 2025-08-08
    listed $120,000 Active 1532-char remark

    Show marketing remark (1532 chars)

    Experience the perfect blend of historic charm and modern living in this stunning 2-bedroom, 1-bath loft in the iconic 1906 Ely Walker building in Downtown St. Louis. Originally home to the Ely & Walker Dry Goods Company, this Classical Revival landmark was designed by the notable St. Louis firm Eames & Young and is part of the Washington Avenue Historic District. Its impressive brick and decorative terracotta façade set the tone for the character within. Soaring ceilings, expansive windows, and original hardwood floors create an open, airy feel, while exposed brick and ductwork add urban edge. From the living room, enjoy a view of the Gateway Arch—a daily reminder you’re in the heart of the city. The living area flows into the kitchen with granite counters and a breakfast bar, ideal for casual dining or entertaining. Both bedrooms offer closet storage, and in-unit laundry adds convenience. Amenities include a rooftop deck with sweeping skyline views, clubhouse, fitness center, BBQ area, and secure garage parking. Walk to dining, nightlife, boutique shopping, City Museum, Cardinals baseball, Blues hockey, St. Louis City SC soccer, concerts, and festivals, with quick access to highways. HOA covers water, sewer, trash, parking, building insurance, and more. One assigned garage space included. Don’t miss the immersive 3D Matterport tour—schedule your showing today! Perfect for those seeking a vibrant urban lifestyle surrounded by history and culture. CASH OR VA LOANS ONLY

13. 2024-06-05
    soldstatus $102,500
14. 2024-05-21
    soldstatus Closed 705-char remark

    Show marketing remark (705 chars)

    Welcome to Ely Walker Lofts in Downtown St. Louis, a historical 100 year old industrial loft building! This 2 bedroom, 1 bath has beautiful natural light, original hardwood floors and exposed brick. High ceilings and an open floor plan complete this amazing industrial loft space. Embrace the vibrant city life with downtown Washington Ave district just a short walk away - restaurants, nightlife, and culture are all within reach. The unit includes 1 assigned parking space and access to the rooftop terrace overlooking downtown St. Louis and access to a fully equip fitness space. Enjoy local sporting events, breweries, and dinning and much more just blocks from your home. Schedule your showing today!

15. 2024-04-24
    status Pending 705-char remark

    Show marketing remark (705 chars)

    Welcome to Ely Walker Lofts in Downtown St. Louis, a historical 100 year old industrial loft building! This 2 bedroom, 1 bath has beautiful natural light, original hardwood floors and exposed brick. High ceilings and an open floor plan complete this amazing industrial loft space. Embrace the vibrant city life with downtown Washington Ave district just a short walk away - restaurants, nightlife, and culture are all within reach. The unit includes 1 assigned parking space and access to the rooftop terrace overlooking downtown St. Louis and access to a fully equip fitness space. Enjoy local sporting events, breweries, and dinning and much more just blocks from your home. Schedule your showing today!

16. 2024-04-02
    price $110,000 705-char remark

    Show marketing remark (705 chars)

    Welcome to Ely Walker Lofts in Downtown St. Louis, a historical 100 year old industrial loft building! This 2 bedroom, 1 bath has beautiful natural light, original hardwood floors and exposed brick. High ceilings and an open floor plan complete this amazing industrial loft space. Embrace the vibrant city life with downtown Washington Ave district just a short walk away - restaurants, nightlife, and culture are all within reach. The unit includes 1 assigned parking space and access to the rooftop terrace overlooking downtown St. Louis and access to a fully equip fitness space. Enjoy local sporting events, breweries, and dinning and much more just blocks from your home. Schedule your showing today!

17. 2024-03-06
    listed $122,500 Active 705-char remark

    Show marketing remark (705 chars)

    Welcome to Ely Walker Lofts in Downtown St. Louis, a historical 100 year old industrial loft building! This 2 bedroom, 1 bath has beautiful natural light, original hardwood floors and exposed brick. High ceilings and an open floor plan complete this amazing industrial loft space. Embrace the vibrant city life with downtown Washington Ave district just a short walk away - restaurants, nightlife, and culture are all within reach. The unit includes 1 assigned parking space and access to the rooftop terrace overlooking downtown St. Louis and access to a fully equip fitness space. Enjoy local sporting events, breweries, and dinning and much more just blocks from your home. Schedule your showing today!

ⓘ 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: $1,588 · $132/mo
• Projected year-2 tax: $1,588 · $132/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 6/10 Major 7 d/yr ≥109°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: $17,948
• − Mortgage interest: −$6,324
• − Property taxes: −$1,588
• − Insurance: −$564
• − Repairs & maintenance: −$1,436
• − Management: −$1,436
• − HOA: −$2,916
• − Depreciation: −$3,284
• Taxable income: $398
• Est. tax owed @ 24.0%: −$96
• After-tax cash flow: $1,909/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): 8,778
• Household income: $40,943
• Rent vs Own: 82.5% rent · 17.5% own
• Severe rent burden: 960.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 43% Black 40% Asian 8% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 87% English-only · Other Indo-European 4% Spanish 3% Arabic 1%

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: ▲ 0.66%
• Current HPI: 116.4477
• Rent YoY: ▲ 9.20%
• 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

-7.8% since first listed

7 events — show timeline

• 2026-02-20 Price Changed $112,900 MARIS as Distributed by MLS Grid
• 2025-08-08 Listed $120,000 MARIS as Distributed by MLS Grid
• 2024-06-05 Sold (Public Records) $102,500 Public Records
• 2024-05-21 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2024-04-24 Pending — MARIS as Distributed by MLS Grid
• 2024-04-02 Price Changed $110,000 MARIS as Distributed by MLS Grid
• 2024-03-06 Listed $122,500 MARIS as Distributed by MLS Grid

Property tax history

+1.3%/yr

Latest (2024): $1,588 · +5.1% YoY. Source: county tax records.