3239 Nebraska Ave · St. Louis, MO 63118

$159,000

6 bd · 2.0 ba · 2,862 sqft · MultiFamily public records · 14 Days on market

Built 1900 3,811 sqft lot

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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 +7.5/15.0
• 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: 2 units. confirmed

Listing remarks

Located in the heart of desirable Benton Park, this all-brick 2-family property is a prime opportunity for investors looking to add value in one of the city’s most sought-after neighborhoods. Featuring strong bones and major system updates already completed, this property is ready for your vision and finishing touches. The building has been completely re-wired under permit, includes updated plumbing stacks, and the roof is in good condition—allowing investors to focus primarily on cosmetic improvements and renovations. Inside, you’ll find beautiful hardwood floors, soaring tall ceilings, spacious room sizes, and the timeless character that tenants and buyers love in histor

Key facts

• 3,811 sq ft lot
• 3 parking spots
• Built 1900

Property features AI

Finance

• Other: Above-grade finished area listed as 2,862 (public records)
• Financial info: Seller may consider concessions; Lease not being considered
• HOA & community: Community contains 2 units

Exterior

• Parking: 3 parking spaces; Concrete off-street parking
• Utilities: Public water; Sewer connected; Natural gas connected; Electricity connected (Ameren); Cable available; Phone available
• Home design: Duplex / multi-family structure; Two levels; One building containing 2 units
• Construction: Brick exterior
• Exterior features: Brick construction; Private ownership; Residential income property (2–4 units); Fixer condition; Lot about 0.0875 acre; Neighborhood: Benton Park West

Interior

• Bedrooms: One unit with 2 bedrooms; One unit with 4 bedrooms
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Has an unfinished basement; Decorative fireplaces (2 total)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $159k.

Deal economics

• At list price, monthly cash flow is $950 ($11k/yr) — positive. Per door: $475/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $159k).
• Cap rate 13.5% 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); 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 (+4.9%/yr); 242 active listings in the ZIP; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• At $2,594/mo this rent would consume 54% 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 $5k 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 $45k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $55k; list at $159k implies a 189% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $159,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.63% ✓
• Cap rate: 13.47%
• Cash-on-cash: 25.62%
• DSCR: 2.14
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $329,130
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2856 Wyoming St	0.07mi	7/2.0 (+1)	3,105 (+8%)	6mo	$319,900	$103	73
3146 Nebraska Ave	0.19mi	5/4.0 (-1)	3,100 (+8%)	4mo	$349,900	$113	61
3228 Arsenal St	0.43mi	6/2.0	2,702 (-6%)	12mo	$269,000	$100	60
3439 Utah St	0.44mi	5/2.0 (-1)	2,642 (-8%)	2mo	$359,000	$136	60
3662/3664 Wyoming St	0.73mi	6/2.0	2,754 (-4%)	2mo	$359,900	$131	58
3649 Nebraska Ave	0.52mi	6/2.0	2,542 (-11%)	10mo	$230,000	$90	49
3418 Hartford St	0.48mi	5/2.0 (-1)	2,528 (-12%)	6mo	$319,999	$127	48
3202-3204 Halliday Ave	0.56mi	7/3.0 (+1)	3,080 (+8%)	8mo	$350,000	$114	46
3457 Miami St	0.63mi	6/4.0	2,788 (-3%)	16mo	$379,000	$136	45
3518 Arsenal St	0.62mi	5/2.0 (-1)	3,024 (+6%)	16mo	$349,000	$115	43
3634 Connecticut St	0.69mi	5/2.0 (-1)	2,630 (-8%)	12mo	$395,000	$150	39
3222 Chippewa St	0.74mi	6/3.0	2,552 (-11%)	13mo	$139,900	$55	32

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 · 4.89% rent growth · sell at horizon

5-year hold

• IRR: 21.4%
• Equity multiple: 1.89×
• Total profit: $39,834
• Equity at exit: $23,707

10-year hold

• IRR: 30.7%
• Equity multiple: 4.02×
• Total profit: $134,229
• Equity at exit: $13,747

Cash invested: $44,520 (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: 242
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,594 high
• Mortgage (P&I): −$834
• Tax est. 1.5%: −$199 /mo · $2,385/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$545
• Net cashflow: $950

Break-even live

Break-even rent $1,391

Max offer price $159,000

Occupancy floor 58%

Sensitivity live

Price	-10% $1,060	-5% $1,005	+0% $950	+5% $896	+10% $841
Rent	-10% $746	-5% $848	+0% $950	+5% $1,053	+10% $1,155
Rate	-1.0pp $1,031	-0.5pp $991	base $950	+0.5pp $909	+1.0pp $867

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,594
Total (2 units)			$2,594

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-02
   status $159,000 Pending 14 DOM
2. 2026-06-01
   days on market $159,000 Active 14 DOM
3. 2026-05-31
   days on market $159,000 Active 13 DOM
4. 2026-05-19
   listed $159,000 Active
5. 2026-05-18
   historical $159,000
6. 2020-08-05
   soldstatus $55,000
7. 2020-08-05
   soldstatus $93,000
8. 2007-10-18
   soldstatus $60,000
9. 2007-05-11
   soldstatus $30,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥108°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: $31,128
• − Mortgage interest: −$8,906
• − Property taxes: −$2,385
• − Insurance: −$795
• − Repairs & maintenance: −$2,490
• − Management: −$2,490
• − Depreciation: −$4,625
• Taxable income: $9,436
• Est. tax owed @ 24.0%: −$2,265
• After-tax cash flow: $9,141/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

+430.0% since first listed

6 events — show timeline

• 2026-05-19 Listed $159,000 MARIS as Distributed by MLS Grid
• 2026-05-18 Coming Soon $159,000 MARIS as Distributed by MLS Grid
• 2020-08-05 Sold (Public Records) $93,000 Public Records
• 2020-08-05 Sold (Public Records) $55,000 Public Records
• 2007-10-18 Sold (Public Records) $60,000 Public Records
• 2007-05-11 Sold (Public Records) $30,000 Public Records

Property tax history

+1.9%/yr

Latest (2024): $309 · +4.7% YoY. Source: county tax records.