2035 Washington Ave #202 · St. Louis, MO 63103

$130,000

1 bd · 1.0 ba · 956 sqft · Condo public records · 3 Days on market

Built 1919

---

Why this score? — see what drove the C- 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 +19.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• Appreciation +5.3/10.0
• Rent growth +4.8/5.0
• 1% rule +4.6/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks

Discover urban living at its best in this stylish 1-bedroom loft at 2035 Washington Ave, Unit 202, located in the sought-after Adler Frame Lofts. This unit features the character and charm loft buyers love, with an open floor plan, high ceilings, and large windows that fill the space with natural light. The layout offers flexibility for both comfortable living and entertaining, while maintaining a modern industrial feel. Step outside and enjoy everything Downtown St. Louis has to offer. Just a short walk to Washington Avenue’s vibrant nightlife, popular restaurants, and entertainment venues, plus easy access to CITY PARK soccer stadium and Highway 40 for convenient commuting. Whether

Key facts

• Large windows
• Open floor plan
• High ceilings

Tags

• OPEN FLOOR PLAN
• HIGH CEILINGS
• LARGE WINDOWS
• DOWNTOWN ST LOUIS
• WASHINGTON AVENUE
• CITY PARK SOCCER STADIUM

Property features AI

Finance

• HOA & community: Monthly association with management; Fitness center; Storage; Association covers grounds maintenance, parking/road maintenance, roof, and security

Exterior

• Parking: Secured parking; One-car garage
• Security: Key card entry; Association-provided security (see HOA)
• Utilities: Public water; Public sewer; Electricity connected (220 volts)
• Home design: Attached condominium; One story
• Construction: Brick construction
• Exterior features: Subdivided lot

Interior

• Bedrooms: One bedroom on the main level
• Bathrooms: One full bathroom (main level)
• Interior features: Key card entry; Central air conditioning; Electric forced-air heating

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/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 $125k (3.7% below list).
• Recommended offer: $125k (3.7% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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 C — 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: Jefferson Elem. (math 5% / reading 5%, grade F, #1,072 of 1,115 statewide, top 98%, 127 students, 98% FRL); Vashon High (math 2% / reading 2%, grade F, #520 of 521 statewide, top 100%, 568 students, 100% 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 (+9.2%/yr); 70 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• This rent runs 37% of the median local income ($41k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $2k of equity ($899 loan paydown + $864 appreciation (0.7% local appreciation)).
• 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 (0.7% appreciation + 8.0% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1919 — 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 $125,208 (3.7% below list)

Questions for the listing agent

1. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.96% ✗
• Cap rate: 7.63%
• Cash-on-cash: 4.76%
• DSCR: 1.21
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.66% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 8.6%
• Equity multiple: 1.44×
• Total profit: $16,109
• Equity at exit: $42,124

10-year hold

• IRR: 16.0%
• Equity multiple: 3.14×
• Total profit: $77,765
• Equity at exit: $54,275

Cash invested: $36,400 (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 63103

• Home prices YoY: 0.6%
• Rents YoY: 9.2%
• Active inventory: 70
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,252 high
• Mortgage (P&I): −$682
• Tax from tax record: −$109 /mo · $1,307/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $144

Break-even live

Break-even rent $1,069

Max offer price $130,000

Occupancy floor 83%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
715 N 21st St St. Louis, MO	1.0–2.0	1.0–2.0	900	$1,125	$1.25	23d	1	0.02mi
2034 Lucas Ave St. Louis, MO	1.0–2.0	1.0	1080	$1,365	$1.26	43d	1	0.03mi
2206 Lucas Ave St. Louis, MO	1.0–2.0	1.0–2.0	1047	$1,250	$1.19	1d	20	0.09mi
2217 Locust St Saint Louis, MO	2.0	2.0	830	$1,475	$1.78	43d	1	0.15mi
1900 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	960	$1,295	$1.35	1d	12	0.15mi
1901 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	1076	$1,250	$1.16	4d	38	0.16mi
416 N 23rd St St. Louis, MO	1.0–2.0	1.0	780	$1,275	$1.63	4d	23	0.16mi
2200 Locust St Saint Louis, MO	1.0–2.0	1.0–1.5	862	$1,395	$1.62	3d	6	0.17mi
1815 Locust St Saint Louis, MO	1.0–2.0	1.0–2.0	983	$1,235	$1.26	43d	7	0.21mi
1800 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	927	$1,115	$1.20	43d	13	0.23mi
2323 Locust St Saint Louis, MO	1.0–2.0	1.0	1239	$1,250	$1.01	43d	2	0.23mi
2605-2637 Washington Ave St. Louis, MO	1.0–2.0	1.0–2.0	775	$1,350	$1.74	11d	7	0.27mi
1706 Washington Ave St. Louis, MO	1.0–2.0	1.0–2.0	997	$1,241	$1.24	1d	10	0.30mi
1717 Olive St Saint Louis, MO	2.0	1.0–2.0	957	$2,200	$2.30	1d	64	0.31mi
1635 Washington Ave Saint Louis, MO	1.0–2.0	1.0	1135	$1,395	$1.23	2d	4	0.34mi
210 N 17th St Saint Louis, MO	1.0	1.0	648	$950	$1.47	43d	1	0.37mi
2650 Locust St St. Louis, MO	1.0	1.0	780	$1,375	$1.76	2d	2	0.37mi
110 N 17th St Saint Louis, MO	2.0	1.0	653	$805	$1.23	7d	1	0.42mi
1531 Washington Ave St. Louis, MO	1.0–2.0	1.0	656	$1,020	$1.55	1d	5	0.44mi
1501 Locust St Saint Louis, MO	1.0	1.0	1002	$1,200	$1.20	43d	1	0.46mi
1405 Pine St St. Louis, MO	2.0	2.0	1020	$1,240	$1.22	3d	1	0.58mi
1307 Washington Ave St. Louis, MO	1.0–2.0	1.0	1261	$1,125	$0.89	7d	17	0.59mi
1300 Convention Plz Saint Louis, MO	2.0	1.0	877	$1,188	$1.35	43d	1	0.64mi
1226 Olive St St. Louis, MO	1.0–2.0	1.0–2.0	1157	$1,449	$1.25	1d	2	0.66mi
1133 Washington Ave St. Louis, MO	2.0	1.0–2.0	637	$1,034	$1.62	43d	1	0.72mi
300 N Tucker Blvd St. Louis, MO	1.0–2.0	1.0–2.0	1013	$1,200	$1.18	1d	10	0.74mi
300 N Tucker Blvd Apt 406 St. Louis, MO	1.0	1.0	834	$1,250	$1.50	14d	1	0.74mi
1110 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	1006	$995	$0.99	2d	19	0.77mi
1115 Carr St St. Louis, MO	1.0–2.0	1.0	747	$975	$1.30	4d	13	0.82mi
1014 Locust St Saint Louis, MO	1.0–2.0	1.0–2.0	1110	$1,430	$1.29	1d	2	0.83mi
1000 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	959	$1,200	$1.25	1d	24	0.83mi
917 Locust St St. Louis, MO	1.0	1.0	683	$1,305	$1.91	16d	3	0.89mi
206 N 9th St Unit 502 St. Louis, MO	1.0	1.0	626	$895	$1.43	43d	1	0.95mi
206 N 9th St Unit 307 St. Louis, MO	2.0	1.0	897	$1,100	$1.23	4d	1	0.95mi
206 N 9th St Unit 514 St. Louis, MO	1.0	1.0	675	$975	$1.44	43d	1	0.95mi
206 N 9th St Unit 1306 St. Louis, MO	2.0	2.0	897	$1,250	$1.39	43d	1	0.95mi
206 N 9th St Unit 1207 St. Louis, MO	2.0	1.0	843	$1,100	$1.30	43d	1	0.95mi
206 N 9th St Unit 509 St. Louis, MO	1.0	1.0	701	$925	$1.32	43d	1	0.95mi
206 N 9th St Unit 916 St. Louis, MO	2.0	2.0	914	$1,250	$1.37	23d	1	0.95mi
206 N 9th St Unit 712 St. Louis, MO	1.0	1.0	783	$925	$1.18	7d	1	0.95mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-06-18
   days on market $130,000 Coming Soon 3 DOM
2. 2026-06-17
   days on market $130,000 Coming Soon 2 DOM
3. 2026-06-16
   remarks 693-char remark
4. 2026-06-16
   listed $130,000 Coming Soon 1 DOM

ⓘ 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: $1,307 · $109/mo
• Projected year-2 tax: $1,307 · $109/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: $15,025
• − Mortgage interest: −$7,282
• − Property taxes: −$1,307
• − Insurance: −$650
• − Repairs & maintenance: −$1,202
• − Management: −$1,202
• − Depreciation: −$3,782
• Taxable loss: −$399
• Est. tax savings @ 24.0%: +$96
• After-tax cash flow: $1,828/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): 8,778
• Household income: $40,943
• Rent vs Own: 82.5% rent · 17.5% own
• Severe rent burden: 960.0

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 0.65)
• Race & ethnicity: White 43% Black 40% Asian 8% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 87% English-only · Other Indo-European 4% Spanish 3% Arabic 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: ▲ 0.66%
• Current HPI: 116.4477
• Rent YoY: ▲ 9.20%
• 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

1 event — show timeline

• 2026-06-15 Coming Soon $130,000 MARIS as Distributed by MLS Grid

Property tax history

+2.0%/yr

Latest (2024): $1,307 · +4.7% YoY. Source: county tax records.