2005 Menard St · St. Louis, MO 63104

$495,000

5 bd · 2.0 ba · 2,142 sqft · MultiFamily public records · 33 Days on market

Built 1885 3,075 sqft lot Est $336k · 47% over ↓ 7% 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 +23.0/30.0
• DSCR +7.4/10.0
• 1% rule +5.4/10.0
• 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

Want to own your own place without living on ramen and regret? This is the ultimate house hack in one of STL’s most legendary neighborhoods. Built in 1885 and solid as a tank, this classic Soulard 4 unit property lets you live well while building real wealth. You’re literally next door to Duke’s, with more bars, coffee spots, and restaurants within walking (or golf cart) distance than you’ll ever check off your list. Sundays for the game, weekdays for happy hour—this location delivers! The single family home at the front of the property is a true owner’s unit: 2+ bedrooms, 2 full baths, and convenient in-unit laundry room. Out back, a charming courtyard c

Key facts

• 3 unit building
• In-unit laundry room
• Charming courtyard

Tags

• CHARMING COURTYARD
• IN-UNIT LAUNDRY ROOM
• 3 UNIT BUILDING
• OWNER'S UNIT

Property features AI

Finance

• Other: Lot approximately 0.0706 acres; Address: 2005 Menard St, Saint Louis, MO 63104; Neighborhood: Soulard
• Financial info: Property used as residential income with multiple rented units; 3 of 4 units currently leased
• HOA & community: Community contains 4 units

Exterior

• Home design: Residential income property (2–4 units); Quadruplex; Above-grade finished area approximately 5,667 (assessor)
• Construction: Brick construction
• Exterior features: Located in the Soulard neighborhood

Interior

• Bedrooms: Three 1-bedroom units; One 2-bedroom / 3-bedroom unit
• Bathrooms: Three 1-bath units; One 2-bath unit
• Heating & cooling: Central air conditioning
• Interior features: Quadruplex (multi-unit residential building)

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $495k.

Deal economics

• At list price, monthly cash flow is $880 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $495k).
• Recommended offer: $480k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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: Shenandoah Elem. (math 5% / reading 5%, grade F, #1,072 of 1,115 statewide, top 98%, 136 students, 98% 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 (18 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; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $5,168/mo this rent would consume 90% 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 $15k 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 $139k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($480k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1885 — 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 $480,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.04% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.62%
• DSCR: 1.34
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $336,294
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1035 Allen Ave	0.03mi	5/3.0	2,207 (+3%)	21mo	$415,500	$188	72
2014 S 11th St	0.05mi	4/2.0 (-1)	1,916 (-11%)	12mo	$300,000	$157	66
805 Russell Blvd	0.20mi	6/6.0 (+1)	2,060 (-4%)	3mo	$249,900	$121	62
2218 Missouri Ave	0.66mi	4/2.0 (-1)	2,314 (+8%)	4mo	$339,000	$146	48
2307 S 10th St	0.22mi	6/6.0 (+1)	1,825 (-15%)	2mo	$515,000	$282	44
2112-2114 Russell Blvd	0.58mi	6/5.0 (+1)	2,400 (+12%)	8mo	$290,000	$121	29
2822 Lemp Ave	0.72mi	6/2.0 (+1)	1,842 (-14%)	16mo	$315,000	$171	25

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: 0.1%
• Equity multiple: 1.00×
• Total profit: $369
• Equity at exit: $73,806

10-year hold

• IRR: 13.7%
• Equity multiple: 2.32×
• Total profit: $182,998
• Equity at exit: $42,799

Cash invested: $138,600 (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 63104

• Rents YoY: 7.5%
• Active inventory: 165
• Price-to-rent: 31.9×

Monthly cashflow live

• Estimated rent: $5,168 high
• Mortgage (P&I): −$2,596
• Tax from tax record: −$400 /mo · $4,805/yr
• Insurance: −$206
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,085
• Net cashflow: $880

Break-even live

Break-even rent $4,054

Max offer price $495,000

Occupancy floor 78%

Sensitivity live

Price	-10% $1,160	-5% $1,020	+0% $880	+5% $740	+10% $600
Rent	-10% $472	-5% $676	+0% $880	+5% $1,084	+10% $1,289
Rate	-1.0pp $1,130	-0.5pp $1,006	base $880	+0.5pp $752	+1.0pp $621

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

Units	Beds	Baths	Est. rent
1× unit	2	2	$1,292
▸ 3× units	2	1	$3,876
Total (4 units)			$5,168

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: $123,750
• Closing costs: $14,850
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
715 Soulard St Saint Louis, MO	5.0	3.0	2800	$2,595	$0.93	45d	1	0.29mi
2253 Indiana Ave Saint Louis, MO	4.0	3.5	1760	$2,600	$1.48	9d	1	0.78mi
2811 Missouri Ave Saint Louis, MO	4.0	2.5	2673	$3,622	$1.36	45d	1	0.88mi
2648 California Ave Saint Louis, MO	4.0	2.0	2458	$2,000	$0.81	25d	1	1.13mi

Listing history 18 events

1. 2026-06-21
   days on market $495,000 Active 33 DOM
2. 2026-06-18
   days on market $495,000 Active 30 DOM
3. 2026-06-17
   days on market $495,000 Active 29 DOM
4. 2026-06-16
   days on market $495,000 Active 28 DOM
5. 2026-06-15
   days on market $495,000 Active 27 DOM
6. 2026-06-13
   days on market $495,000 Active 25 DOM
7. 2026-06-09
   days on market $495,000 Active 21 DOM
8. 2026-06-08
   days on market $495,000 Active 20 DOM
9. 2026-06-07
   days on market $495,000 Active 19 DOM
10. 2026-06-05
    days on market $495,000 Active 16 DOM
11. 2026-06-03
    days on market $495,000 Active 15 DOM
12. 2026-06-02
    days on market $495,000 Active 14 DOM
13. 2026-06-01
    days on market $495,000 Active 13 DOM
14. 2026-05-31
    days on market $495,000 Active 12 DOM
15. 2026-05-19
    listed $495,000 Active
16. 2026-03-26
    status Pending
17. 2026-03-10
    price $495,000
18. 2026-01-20
    listed $535,000 Active

ⓘ 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: $4,805 · $400/mo
• Projected year-2 tax: $4,805 · $400/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: $62,016
• − Mortgage interest: −$27,728
• − Property taxes: −$4,805
• − Insurance: −$2,475
• − Repairs & maintenance: −$4,961
• − Management: −$4,961
• − Depreciation: −$14,400
• Taxable income: $2,686
• Est. tax owed @ 24.0%: −$645
• After-tax cash flow: $9,918/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

-7.5% since first listed

4 events — show timeline

• 2026-05-19 Listed $495,000 MARIS as Distributed by MLS Grid
• 2026-03-26 Pending — MARIS as Distributed by MLS Grid
• 2026-03-10 Price Changed $495,000 MARIS as Distributed by MLS Grid
• 2026-01-20 Listed $535,000 MARIS as Distributed by MLS Grid

Property tax history

+1.3%/yr

Latest (2024): $4,805 · +4.8% YoY. Source: county tax records.