660 Materdie Ln #104 · Florissant, MO 63031

$84,900

2 bd · 2.0 ba · 1,044 sqft · Condo public records · 141 Days on market

Built 2005 $81/sqft · at area comps Est $87k · at est. $100/mo HOA · 8% of rent ↓ 23% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +8.7/15.0
• Livability +3.7/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

A 2 bed, 2 bath condo in the heart of Florissant just waiting for a new owner to call it home! Neutral countertops with full compliment of appliances! The eat-in kitchen has plenty of cabinet and counter space. Bright living room with sliding door leading to the patio. Full hall bath and two good sized bedrooms. Primary suite includes a full bathroom with shower/tub combo and walk-in closet. Patio with additional storage. In-unit laundry. This is a great condo is close to shopping, restaurants, Koch Park, & St. Ferdinand Park. Easy access to highways 270 & 170. Don't wait! Schedule a showing today! Location: Main level unit with no Steps.

Key facts

• Close to koch park
• Close to restaurants
• In-unit laundry

Tags

• EAT-IN KITCHEN
• PATIO
• IN-UNIT LAUNDRY
• CLOSE TO SHOPPING
• CLOSE TO RESTAURANTS
• CLOSE TO KOCH PARK

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $85k.

Deal economics

• At list price, monthly cash flow is $325 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 6.3% in Florissant — 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 73/100 on livability (#82 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime C-, amenities D+, schools D.
• Hazelwood (suburban): math 11% / reading 26% proficiency, ranked #306 of 324 in MO (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+4.3%/yr); 271 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 920 units permitted in St. Louis County in 2024 (250 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $587 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $24k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $74,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 141 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.54% ✓
• Cap rate: 10.89%
• Cash-on-cash: 16.42%
• DSCR: 1.73
• GRM: 5.4

CMA / ARV

• ARV (median comp): $87,209
• List price: $84,900
• Delta: -2.65%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.27% rent growth · sell at horizon

5-year hold

• IRR: 9.2%
• Equity multiple: 1.37×
• Total profit: $8,740
• Equity at exit: $12,659

10-year hold

• IRR: 19.6%
• Equity multiple: 2.76×
• Total profit: $41,782
• Equity at exit: $7,341

Cash invested: $23,772 (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 63031

• Rents YoY: 4.3%
• Active inventory: 271
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,306 high
• Mortgage (P&I): −$445
• Tax from tax record: −$126 /mo · $1,514/yr
• Insurance: −$35
• HOA: −$100
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $325

Break-even live

Break-even rent $895

Max offer price $84,900

Occupancy floor 70%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Bruce Dr Unit Bruce 14-4 Florissant, MO	2.0	1.0	880	$975	$1.11	44d	1	0.15mi
13 Bruce Dr Unit Bruce 13-2 Florissant, MO	2.0	1.0	880	$975	$1.11	44d	1	0.16mi
13 Bruce Dr Florissant, MO	2.0	1.0	880	$975	$1.11	24d	1	0.16mi
785 Florland Dr Florissant, MO	3.0	1.0	1100	$1,700	$1.55	18d	1	0.23mi
155 Reeb Ln Apt 2 Florissant, MO	2.0	1.0	850	$995	$1.17	44d	1	0.44mi
21 Quick Dr Apt 3 Florissant, MO	2.0	1.0	850	$995	$1.17	24d	1	0.45mi
21 Quick Dr Apt 1 Florissant, MO	2.0	1.0	850	$1,100	$1.29	44d	1	0.45mi
167 Reeb Ln Florissant, MO	1.0–2.0	1.0	850	$1,300	$1.53	2d	4	0.46mi
23 Quick Dr Apt 2 Florissant, MO	2.0	1.0	850	$1,100	$1.29	44d	1	0.47mi
240 Chez Vant Ct Hazelwood, MO	2.0	1.5	1440	$1,350	$0.94	44d	1	0.61mi
240 Chez Vant Ct Hazelwood, MO	1.0	1.0	770	$825	$1.07	20d	1	0.61mi
858 Hazelvalley Dr Hazelwood, MO	3.0	1.5	912	$1,450	$1.59	44d	1	0.62mi
4 Sharon Ct Florissant, MO	3.0	2.0	1108	$1,800	$1.62	2d	1	0.80mi
446 Olian Dr Hazelwood, MO	2.0	1.0	880	$975	$1.11	2d	1	0.82mi
305 S Lafayette St Florissant, MO	3.0	1.0	864	$1,409	$1.63	16d	1	0.84mi
765 Babler Dr Florissant, MO	3.0	2.0	888	$1,700	$1.91	8d	1	0.85mi
1015 Lindsay Ln Florissant, MO	3.0	2.0	988	$1,600	$1.62	24d	1	0.85mi
9 Charlotte Dr Florissant, MO	3.0	1.5	1404	$1,641	$1.17	4d	1	0.87mi
7404 Olian Dr Hazelwood, MO	2.0	1.0	870	$925	$1.06	44d	1	0.89mi
855 Daniel Boone Dr Florissant, MO	3.0	1.0	964	$1,400	$1.45	44d	1	0.92mi
7437 Hazelcrest Dr Unit H Hazelwood, MO	3.0	1.0	1000	$1,000	$1.00	8d	1	0.95mi
470 Hundley Dr Florissant, MO	3.0	2.0	962	$1,595	$1.66	44d	1	1.03mi
3 Champlain Ct Florissant, MO	3.0	1.0	1100	$1,600	$1.45	44d	1	1.14mi
9 Saint Celeste Dr Florissant, MO	3.0	1.0	992	$1,450	$1.46	44d	1	1.17mi
10 Saint Celeste Dr Florissant, MO	2.0	1.0	716	$1,290	$1.80	12d	1	1.17mi
1145 Swallow Ln Florissant, MO	3.0	2.0	1288	$1,645	$1.28	3d	1	1.19mi
537 Lynn Haven Ln Hazelwood, MO	3.0	2.0	1242	$1,675	$1.35	24d	1	1.21mi
1540 Aspen Dr Florissant, MO	3.0	2.0	912	$1,395	$1.53	8d	1	1.24mi
532 Holiday Ave Hazelwood, MO	3.0	1.0	912	$1,350	$1.48	44d	1	1.24mi
1280 Saint Catherine St Florissant, MO	3.0	1.0	1274	$1,600	$1.26	15d	1	1.27mi
135 Saint Maurice Ln Florissant, MO	3.0	1.0	816	$1,395	$1.71	44d	1	1.32mi
1045 N New Florissant Rd Florissant, MO	2.0	1.0	783	$1,250	$1.60	15d	1	1.32mi
1395 Bluebird Dr Florissant, MO	3.0	2.0	1168	$1,599	$1.37	16d	1	1.32mi
1004 N New Florissant Rd Florissant, MO	2.0	1.0	719	$1,375	$1.91	24d	1	1.33mi
623 Holiday Ave Hazelwood, MO	3.0	2.0	1176	$1,591	$1.35	12d	1	1.35mi
508 Saratoga Ln Hazelwood, MO	3.0	1.0	988	$1,306	$1.32	24d	1	1.35mi
1710 Kay Dr Florissant, MO	3.0	1.0	960	$1,500	$1.56	2d	1	1.43mi
17 Valley Dr Florissant, MO	2.0	2.0	1356	$1,525	$1.12	44d	1	1.45mi
1095 Humes Ln Florissant, MO	3.0	1.5	1100	$1,650	$1.50	4d	1	1.46mi
1545 Washington St Florissant, MO	3.0	1.5	1337	$2,055	$1.54	3d	1	1.50mi

HOA detail condo

• Monthly dues: $100 · $1,200/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-04-09
   price $84,900 658-char remark

   Show marketing remark (658 chars)

   A 2 bed, 2 bath condo in the heart of Florissant just waiting for a new owner to call it home! Neutral countertops with full compliment of appliances! The eat-in kitchen has plenty of cabinet and counter space. Bright living room with sliding door leading to the patio. Full hall bath and two good sized bedrooms. Primary suite includes a full bathroom with shower/tub combo and walk-in closet. Patio with additional storage. In-unit laundry. This is a great condo is close to shopping, restaurants, Koch Park, & St. Ferdinand Park. Easy access to highways 270 & 170. Don't wait! Schedule a showing today! Location: Main level unit with no Steps.

2. 2026-02-11
   price $89,900 658-char remark

   Show marketing remark (658 chars)

   A 2 bed, 2 bath condo in the heart of Florissant just waiting for a new owner to call it home! Neutral countertops with full compliment of appliances! The eat-in kitchen has plenty of cabinet and counter space. Bright living room with sliding door leading to the patio. Full hall bath and two good sized bedrooms. Primary suite includes a full bathroom with shower/tub combo and walk-in closet. Patio with additional storage. In-unit laundry. This is a great condo is close to shopping, restaurants, Koch Park, & St. Ferdinand Park. Easy access to highways 270 & 170. Don't wait! Schedule a showing today! Location: Main level unit with no Steps.

3. 2026-01-08
   listed $99,900 Active 658-char remark

   Show marketing remark (658 chars)

   A 2 bed, 2 bath condo in the heart of Florissant just waiting for a new owner to call it home! Neutral countertops with full compliment of appliances! The eat-in kitchen has plenty of cabinet and counter space. Bright living room with sliding door leading to the patio. Full hall bath and two good sized bedrooms. Primary suite includes a full bathroom with shower/tub combo and walk-in closet. Patio with additional storage. In-unit laundry. This is a great condo is close to shopping, restaurants, Koch Park, & St. Ferdinand Park. Easy access to highways 270 & 170. Don't wait! Schedule a showing today! Location: Main level unit with no Steps.

4. 2026-01-08
   historical $99,900 658-char remark

   Show marketing remark (658 chars)

   A 2 bed, 2 bath condo in the heart of Florissant just waiting for a new owner to call it home! Neutral countertops with full compliment of appliances! The eat-in kitchen has plenty of cabinet and counter space. Bright living room with sliding door leading to the patio. Full hall bath and two good sized bedrooms. Primary suite includes a full bathroom with shower/tub combo and walk-in closet. Patio with additional storage. In-unit laundry. This is a great condo is close to shopping, restaurants, Koch Park, & St. Ferdinand Park. Easy access to highways 270 & 170. Don't wait! Schedule a showing today! Location: Main level unit with no Steps.

5. 2006-01-26
   soldstatus $129,900
6. 2005-11-18
   soldstatus $109,900

ⓘ 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: $1,514 · $126/mo
• Projected year-2 tax: $1,514 · $126/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 ≥105°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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,676
• − Mortgage interest: −$4,756
• − Property taxes: −$1,514
• − Insurance: −$424
• − Repairs & maintenance: −$1,254
• − Management: −$1,254
• − HOA: −$1,200
• − Depreciation: −$2,470
• Taxable income: $2,804
• Est. tax owed @ 24.0%: −$673
• After-tax cash flow: $3,230/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: Hazelwood
• NCES district ID: 2913830
• Math proficiency: 11% ▼ -13.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $51,621
• Composite: 16.77/100
• National rank: #9156
• State rank: #306 of 324 in MO

Livability — Florissant

• Score: 73/100
• State rank: #82
• US rank: #5406

Category grades

Amenities D+ Commute F Cost of living A+ Crime C- Employment C Housing A+ Health & safety B+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florissant, MO
• County: Saint Louis County · 888,823 people
• City population: 69,104
• Metro: St. Louis, MO-IL
• Population (ZIP): 50,196
• Household income: $70,811
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 1279.0

Population outlook (St. Louis County) Hauer SSP2

• Today (2025): 1,025,227 people
• By 2030: 1,028,023 · +0.3%
• By 2040: 1,020,940 · -0.4%
• By 2050: 1,007,280 · -1.8%
• By 2075: 987,277 · -3.7%
• By 2100: 921,984 · -10.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 49% Black 41% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Lithuanian 3% Swedish 1%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · St. Louis

• 2024 margin: Strong D (+23.4) · D 60.8% · R 37.4% · Other 1.7%
• 2008→2024 swing: +3.5pp toward D · 2008: 19.9pp · 2024: 23.4pp
• All cycles: 2024: D+23.4 2020: D+24.0 2016: D+16.2 2012: D+13.7 2008: D+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -223.57%
• Current HPI: 202.7192
• Rent YoY: ▲ 4.27%
• 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

-22.7% since first listed

6 events — show timeline

• 2026-04-09 Price Changed $84,900 MARIS as Distributed by MLS Grid
• 2026-02-11 Price Changed $89,900 MARIS as Distributed by MLS Grid
• 2026-01-08 Listed $99,900 MARIS as Distributed by MLS Grid
• 2026-01-08 Coming Soon $99,900 MARIS as Distributed by MLS Grid
• 2006-01-26 Sold (Public Records) $129,900 Public Records
• 2005-11-18 Sold (Public Records) $109,900 Public Records

Property tax history

-2.7%/yr

Latest (2022): $1,514 · +2.7% YoY. Source: county tax records.