2116 Geyer Ave · St. Louis, MO 63104

$450,000

4 bd · 4.0 ba · 2,880 sqft · MultiFamily public records · 327 Days on market

Built 1927 $156/sqft · 34% above area Est $337k · 34% over ↓ 14% since listing

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Why this score? — see what drove the D 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 +22.2/30.0
• DSCR +7.1/10.0
• 1% rule +4.9/10.0
• Rent growth +4.4/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0
• 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

2118 Geyer is part of three property portfolio located in the heart of The McKinley Heights, this building features four updated 1 bedroom, 1 bathroom units with hardwood flooring, newly updated kitchens and baths and private rear decks. This building also offers shared laundry in the basement and street parking directly in-front of the building. Conveniently located near Lafayette Square, Soulard and Downtown St. Louis this property is in walking distance to many of St. Louis most historical areas. **Available as part of a portfolio or individually**

Key facts

• Shared laundry
• Private rear decks
• Walking distance

Tags

• UPDATED KITCHENS
• PRIVATE REAR DECKS
• SHARED LAUNDRY
• STREET PARKING
• WALKING DISTANCE

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $729 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $444k (1.3% below list).
• Recommended offer: $396k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 D — 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: Nahed Chapman New American Aca (math 2% / reading 2%, grade F, #1,099 of 1,115 statewide, top 100%, 335 students, 99% FRL); Gateway Middle (math 0% / reading 8%, grade F, #389 of 391 statewide, top 100%, 506 students, 99% FRL); Roosevelt High (math 2% / reading 8%, grade F, #517 of 521 statewide, top 100%, 460 students, 99% FRL) — zoned schools average 99% FRL vs 80% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.5%/yr); 165 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• At $4,443/mo this rent would consume 78% of the median local household income ($69k/yr) (locally 1429% 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 $14k 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 + 7.5% rent growth), your $126k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 327 days — a 12% lower offer ($396k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $75k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1927 — 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 $396,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 327 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 1927 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.99% ✗
• Cap rate: 8.24%
• Cash-on-cash: 6.94%
• DSCR: 1.31
• GRM: 8.4

CMA / ARV

• ARV (median comp): $337,000
• List price: $450,000
• Delta: 33.53%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2309 S Jefferson Ave	0.42mi	3/3.0 (-1)	2,788 (-3%)	2mo	$300,000	$108	64
2028 Russell Blvd	0.19mi	4/4.0	2,532 (-12%)	10mo	$288,000	$114	62
2325 S 10th St	0.74mi	4/4.0	2,862 (-1%)	13mo	$425,000	$148	53
2849 Accomac St	0.60mi	5/2.0 (+1)	2,922 (+2%)	7mo	$369,900	$127	51
2856 Shenandoah Ave	0.67mi	4/4.0	2,970 (+3%)	19mo	$310,000	$104	48
2835 Accomac St	0.57mi	5/3.0 (+1)	2,922 (+2%)	21mo	$410,000	$140	44
1806 S 13th St	0.54mi	5/4.0 (+1)	2,688 (-7%)	20mo	$460,000	$171	42
2023 Menard St	0.62mi	3/— (-1)	3,213 (+12%)	7mo	$375,000	$117	40
1213 Sidney St	0.70mi	3/2.5 (-1)	2,800 (-3%)	15mo	$366,000	$131	39
2805 Shenandoah Ave	0.58mi	3/3.0 (-1)	2,640 (-8%)	21mo	$415,000	$157	33
1223 Sidney St	0.68mi	5/3.0 (+1)	3,204 (+11%)	9mo	$400,000	$125	33
2852 Victor St	0.70mi	5/2.0 (+1)	2,640 (-8%)	16mo	$335,000	$127	27

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 · 7.52% rent growth · sell at horizon

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-5,504
• Equity at exit: $67,096

10-year hold

• IRR: 12.6%
• Equity multiple: 2.19×
• Total profit: $149,622
• Equity at exit: $38,908

Cash invested: $126,000 (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 63104

• Rents YoY: 7.5%
• Active inventory: 165
• Price-to-rent: 33.8×

Monthly cashflow live

• Estimated rent: $4,443 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$234 /mo · $2,805/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$933
• Net cashflow: $729

Break-even live

Break-even rent $3,520

Max offer price $450,000

Occupancy floor 79%

Sensitivity live

Price	-10% $984	-5% $856	+0% $729	+5% $602	+10% $474
Rent	-10% $378	-5% $553	+0% $729	+5% $904	+10% $1,080
Rate	-1.0pp $956	-0.5pp $843	base $729	+0.5pp $612	+1.0pp $494

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$4,444
Total (4 units)			$4,443

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2048 Russell Blvd Saint Louis, MO	4.0	2.0	3024	$2,300	$0.76	45d	1	0.18mi
1229-1231 Allen Market Ln Unit 1231 St. Louis, MO	3.0	3.0	3000	$1,995	$0.67	45d	1	0.47mi
1231 Allen Market Ln St. Louis, MO	3.0	2.5	3000	$1,995	$0.67	45d	1	0.47mi
2211 Menard St Unit B St. Louis, MO	3.0	1.5	2440	$2,200	$0.90	4d	1	0.67mi
2211 Menard St Unit A St. Louis, MO	3.0	1.5	2440	$2,200	$0.90	6d	1	0.67mi
2811 Missouri Ave Saint Louis, MO	4.0	2.5	2673	$3,622	$1.36	45d	1	0.71mi
2648 California Ave Saint Louis, MO	4.0	2.0	2458	$2,000	$0.81	25d	1	0.71mi
2406 S 10th St Saint Louis, MO	3.0	2.0	2000	$1,795	$0.90	0d	1	0.83mi
715 Soulard St Saint Louis, MO	5.0	3.0	2800	$2,595	$0.93	45d	1	0.90mi
2643 Wyoming St Saint Louis, MO	3.0	2.5	2592	$2,600	$1.00	45d	1	1.12mi
3429 Ohio Ave Saint Louis, MO	3.0	3.0	1938	$2,250	$1.16	18d	1	1.44mi

Listing history 22 events

1. 2026-06-21
   days on market $450,000 Active 327 DOM
2. 2026-06-18
   days on market $450,000 Active 324 DOM
3. 2026-06-17
   days on market $450,000 Active 323 DOM
4. 2026-06-16
   days on market $450,000 Active 322 DOM
5. 2026-06-15
   days on market $450,000 Active 321 DOM
6. 2026-06-13
   days on market $450,000 Active 319 DOM
7. 2026-06-09
   days on market $450,000 Active 315 DOM
8. 2026-06-08
   days on market $450,000 Active 314 DOM
9. 2026-06-08
   days on market $450,000 Active 313 DOM
10. 2026-06-05
    days on market $450,000 Active 310 DOM
11. 2026-06-03
    days on market $450,000 Active 309 DOM
12. 2026-06-02
    days on market $450,000 Active 308 DOM
13. 2026-06-01
    days on market $450,000 Active 307 DOM
14. 2026-06-01
    days on market $450,000 Active 306 DOM
15. 2025-11-29
    status Active 557-char remark

    Show marketing remark (557 chars)

    2118 Geyer is part of three property portfolio located in the heart of The McKinley Heights, this building features four updated 1 bedroom, 1 bathroom units with hardwood flooring, newly updated kitchens and baths and private rear decks. This building also offers shared laundry in the basement and street parking directly in-front of the building. Conveniently located near Lafayette Square, Soulard and Downtown St. Louis this property is in walking distance to many of St. Louis most historical areas. **Available as part of a portfolio or individually**

16. 2025-11-19
    historical Active Under Contract 557-char remark

    Show marketing remark (557 chars)

    2118 Geyer is part of three property portfolio located in the heart of The McKinley Heights, this building features four updated 1 bedroom, 1 bathroom units with hardwood flooring, newly updated kitchens and baths and private rear decks. This building also offers shared laundry in the basement and street parking directly in-front of the building. Conveniently located near Lafayette Square, Soulard and Downtown St. Louis this property is in walking distance to many of St. Louis most historical areas. **Available as part of a portfolio or individually**

17. 2025-11-17
    price $450,000 557-char remark

    Show marketing remark (557 chars)

    2118 Geyer is part of three property portfolio located in the heart of The McKinley Heights, this building features four updated 1 bedroom, 1 bathroom units with hardwood flooring, newly updated kitchens and baths and private rear decks. This building also offers shared laundry in the basement and street parking directly in-front of the building. Conveniently located near Lafayette Square, Soulard and Downtown St. Louis this property is in walking distance to many of St. Louis most historical areas. **Available as part of a portfolio or individually**

18. 2025-08-19
    price $510,000 557-char remark

    Show marketing remark (557 chars)

    2118 Geyer is part of three property portfolio located in the heart of The McKinley Heights, this building features four updated 1 bedroom, 1 bathroom units with hardwood flooring, newly updated kitchens and baths and private rear decks. This building also offers shared laundry in the basement and street parking directly in-front of the building. Conveniently located near Lafayette Square, Soulard and Downtown St. Louis this property is in walking distance to many of St. Louis most historical areas. **Available as part of a portfolio or individually**

19. 2025-07-29
    listed $525,000 Active 557-char remark

    Show marketing remark (557 chars)

    2118 Geyer is part of three property portfolio located in the heart of The McKinley Heights, this building features four updated 1 bedroom, 1 bathroom units with hardwood flooring, newly updated kitchens and baths and private rear decks. This building also offers shared laundry in the basement and street parking directly in-front of the building. Conveniently located near Lafayette Square, Soulard and Downtown St. Louis this property is in walking distance to many of St. Louis most historical areas. **Available as part of a portfolio or individually**

20. 2025-07-29
    historical $525,000 557-char remark

    Show marketing remark (557 chars)

    2118 Geyer is part of three property portfolio located in the heart of The McKinley Heights, this building features four updated 1 bedroom, 1 bathroom units with hardwood flooring, newly updated kitchens and baths and private rear decks. This building also offers shared laundry in the basement and street parking directly in-front of the building. Conveniently located near Lafayette Square, Soulard and Downtown St. Louis this property is in walking distance to many of St. Louis most historical areas. **Available as part of a portfolio or individually**

21. 2006-07-20
    soldstatus
22. 1996-10-09
    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: $2,805 · $234/mo
• Projected year-2 tax: $4,365 · $364/mo
• Expected delta: +$1,560/yr (+$130/mo · 55.6%)

ⓘ 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 ≥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: $53,316
• − Mortgage interest: −$25,207
• − Property taxes: −$2,805
• − Insurance: −$2,250
• − Repairs & maintenance: −$4,265
• − Management: −$4,265
• − Depreciation: −$13,091
• Taxable income: $1,433
• Est. tax owed @ 24.0%: −$344
• After-tax cash flow: $8,403/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): 19,007
• Household income: $68,764
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 1429.0

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 0.60)
• Race & ethnicity: White 51% Black 37% Two or more races 6% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Other Indo-European 2% Spanish 1% German/W. Germanic 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: ▼ -159.69%
• Current HPI: 252.3452
• Rent YoY: ▲ 7.52%
• 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

-14.3% since first listed

8 events — show timeline

• 2025-11-29 Relisted — MARIS as Distributed by MLS Grid
• 2025-11-19 Contingent — MARIS as Distributed by MLS Grid
• 2025-11-17 Price Changed $450,000 MARIS as Distributed by MLS Grid
• 2025-08-19 Price Changed $510,000 MARIS as Distributed by MLS Grid
• 2025-07-29 Listed $525,000 MARIS as Distributed by MLS Grid
• 2025-07-29 Coming Soon $525,000 MARIS as Distributed by MLS Grid
• 2006-07-20 Sold (Public Records) — Public Records
• 1996-10-09 Sold (Public Records) — Public Records

Property tax history

+5.5%/yr

Latest (2024): $2,805 · +5.1% YoY. Source: county tax records.