3534 Pennsylvania Ave · St. Louis, MO 63118

$200,000

16 bd · 4.0 ba · 3,362 sqft · MultiFamily public records · 39 Days on market

Built 1907 5,675 sqft lot $59/sqft · 13% below area Est $231k · 13% under

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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
• ARV discount +13.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.7/5.0
• 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

SHOWINGS ONLY WITH APPROVED CONTRACT - Enjoy instant cash flow with this professionally owned and managed 4-family building. Brand new roof (2017). All four 1-bedroom units are fully occupied at $495, $495, $475, and $450 per month. Detached 4-car garage has potential for another $200/mo in rent. Reliable tenants selected by a professional property manager. City occupancy permits provided for all units. Showings allowed with accepted offer. Building will be sold in AS-IS condition. Don't miss a great investment opportunity.

Key facts

• Bonus room
• Private front door
• Garage spaces

Tags

• 4 UNIT INVESTMENT PROPERTY
• HISTORIC UNITS
• PRIVATE FRONT DOOR
• BONUS ROOM
• GARAGE SPACES

Property features AI

Finance

• Other: Property type: Residential income (2-4 units); Unit count: 1 unit type with 4 total units
• Financial info: No second mortgage reported; Lease considered: No

Exterior

• Parking: Detached or attached 2-car garage (2 garage spaces)
• Utilities: Electric service by Ameren; Electricity connected; Natural gas connected; Water connected; Sewer connected
• Home design: 2–4 unit residential income property; Total living area approximately 3,362 sq ft (assessor)
• Construction: Brick exterior; Stone foundation; Construction details from assessor
• Exterior features: Brick construction; Approximately 0.13-acre lot; No pool

Interior

• Bedrooms: One-bedroom units (4 units total)
• Bathrooms: One bathroom per unit
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: Residential income property with multiple rental units

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/1.0-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $4k ($49k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 30.6% 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: Froebel Elem. (math 8% / reading 8%, grade F, #1,052 of 1,115 statewide, top 95%, 176 students, 98% 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 (+4.9%/yr); 240 active listings in the ZIP; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• At $6,631/mo this rent would consume 138% of the median local household income ($58k/yr) (locally 1495% 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 $1k of loan paydown is wiped out by about $6k 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 + 4.9% rent growth), your $56k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y 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 $125k; list at $200k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $194,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.32% ✓
• Cap rate: 30.62%
• Cash-on-cash: 86.87%
• DSCR: 4.87
• GRM: 2.5

CMA / ARV

• ARV (median comp): $230,631
• List price: $200,000
• Delta: -13.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.89% rent growth · sell at horizon

5-year hold

• IRR: 89.4%
• Equity multiple: 5.26×
• Total profit: $238,613
• Equity at exit: $29,821

10-year hold

• IRR: 92.8%
• Equity multiple: 11.62×
• Total profit: $594,956
• Equity at exit: $17,292

Cash invested: $56,000 (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 63118

• Rents YoY: 4.9%
• Active inventory: 240
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $6,631 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$52 /mo · $629/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,393
• Net cashflow: $4,054

Break-even live

Break-even rent $1,499

Max offer price $200,000

Occupancy floor 34%

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	1	$6,632
Total (4 units)			$6,631

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-17
   status $200,000 Pending 39 DOM
2. 2026-06-16
   days on market $200,000 Active 39 DOM
3. 2026-06-15
   days on market $200,000 Active 38 DOM
4. 2026-06-13
   days on market $200,000 Active 36 DOM
5. 2026-06-09
   days on market $200,000 Active 32 DOM
6. 2026-06-08
   days on market $200,000 Active 31 DOM
7. 2026-06-07
   days on market $200,000 Active 30 DOM
8. 2026-06-05
   days on market $200,000 Active 27 DOM
9. 2026-06-03
   days on market $200,000 Active 26 DOM
10. 2026-06-02
    days on market $200,000 Active 25 DOM
11. 2026-06-01
    days on market $200,000 Active 24 DOM
12. 2026-05-31
    days on market $200,000 Active 23 DOM
13. 2026-05-08
    listed $200,000 Active 640-char remark
14. 2025-11-11
    listed $225,000 Active
15. 2024-06-09
    historical $750
16. 2024-05-31
    listed $750
17. 2024-01-11
    historical $750
18. 2023-12-01
    listed $750
19. 2017-10-04
    soldstatus $125,000
20. 2017-09-28
    soldstatus Closed

    Show marketing remark (529 chars)

    SHOWINGS ONLY WITH APPROVED CONTRACT - Enjoy instant cash flow with this professionally owned and managed 4-family building. Brand new roof (2017). All four 1-bedroom units are fully occupied at $495, $495, $475, and $450 per month. Detached 4-car garage has potential for another $200/mo in rent. Reliable tenants selected by a professional property manager. City occupancy permits provided for all units. Showings allowed with accepted offer. Building will be sold in AS-IS condition. Don't miss a great investment opportunity.

21. 2017-08-21
    historical Contingent (No Kickout)

    Show marketing remark (529 chars)

    SHOWINGS ONLY WITH APPROVED CONTRACT - Enjoy instant cash flow with this professionally owned and managed 4-family building. Brand new roof (2017). All four 1-bedroom units are fully occupied at $495, $495, $475, and $450 per month. Detached 4-car garage has potential for another $200/mo in rent. Reliable tenants selected by a professional property manager. City occupancy permits provided for all units. Showings allowed with accepted offer. Building will be sold in AS-IS condition. Don't miss a great investment opportunity.

22. 2017-08-16
    listed $115,000 Active

    Show marketing remark (529 chars)

    SHOWINGS ONLY WITH APPROVED CONTRACT - Enjoy instant cash flow with this professionally owned and managed 4-family building. Brand new roof (2017). All four 1-bedroom units are fully occupied at $495, $495, $475, and $450 per month. Detached 4-car garage has potential for another $200/mo in rent. Reliable tenants selected by a professional property manager. City occupancy permits provided for all units. Showings allowed with accepted offer. Building will be sold in AS-IS condition. Don't miss a great investment opportunity.

23. 2017-01-31
    soldstatus $96,000
24. 2016-07-26
    soldstatus $64,500
25. 2003-09-15
    soldstatus
26. 2000-12-18
    soldstatus $44,000
27. 2000-12-14
    soldstatus $102,000
28. 1998-09-16
    soldstatus $46,500
29. 1998-09-16
    soldstatus $68,000
30. 1998-09-16
    soldstatus $68,000

ⓘ 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: $629 · $52/mo
• Projected year-2 tax: $1,940 · $162/mo
• Expected delta: +$1,311/yr (+$109/mo · 208.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $79,572
• − Mortgage interest: −$11,203
• − Property taxes: −$629
• − Insurance: −$1,000
• − Repairs & maintenance: −$6,366
• − Management: −$6,366
• − Depreciation: −$5,818
• Taxable income: $48,190
• Est. tax owed @ 24.0%: −$11,566
• After-tax cash flow: $37,081/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): 25,913
• Household income: $57,762
• Rent vs Own: 56.1% rent · 43.9% own
• Severe rent burden: 1495.0

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 0.63)
• Race & ethnicity: White 44% Black 41% Two or more races 8% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 2%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 5% Vietnamese 1% French/Haitian/Cajun 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: ▼ -347.51%
• Current HPI: 171.5963
• Rent YoY: ▲ 4.89%
• 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

+330.1% since first listed

19 events — show timeline

• 2026-06-17 Pending — MARIS as Distributed by MLS Grid
• 2026-05-08 Listed $200,000 MARIS as Distributed by MLS Grid
• 2025-11-11 Listed $225,000 MARIS as Distributed by MLS Grid
• 2024-06-09 Rental Removed $750 BUILDIUM
• 2024-05-31 Listed for Rent $750 BUILDIUM
• 2024-01-11 Rental Removed $750 BUILDIUM
• 2023-12-01 Listed for Rent $750 BUILDIUM
• 2017-10-04 Sold (Public Records) $125,000 Public Records
• 2017-09-28 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2017-08-21 Contingent — MARIS as Distributed by MLS Grid
• 2017-08-16 Listed $115,000 MARIS as Distributed by MLS Grid
• 2017-01-31 Sold (Public Records) $96,000 Public Records
• 2016-07-26 Sold (Public Records) $64,500 Public Records
• 2003-09-15 Sold (Public Records) — Public Records
• 2000-12-18 Sold (Public Records) $44,000 Public Records
• 2000-12-14 Sold (Public Records) $102,000 Public Records
• 1998-09-16 Sold (Public Records) $68,000 Public Records
• 1998-09-16 Sold (Public Records) $68,000 Public Records
• 1998-09-16 Sold (Public Records) $46,500 Public Records

Property tax history

+3.0%/yr

Latest (2024): $629 · +4.9% YoY. Source: county tax records.