6663 Devonshire Ave · St. Louis, MO 63109

$505,000

12 bd · 4.0 ba · 3,134 sqft · MultiFamily public records · 65 Days on market

Built 1940 5,248 sqft lot $161/sqft · 6% above area Est $475k · 6% over

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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 +26.5/30.0
• DSCR +9.1/10.0
• 1% rule +6.5/10.0
• ARV discount +4.7/15.0
• Rent growth +3.5/5.0
• 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

4 family brick home in the heart of South City behind Ted Drews Frozen Custard! Excellent opportunity for an owner occupant or to add to your portfolio. 3/4 units are currently rented out. 4th unit is being actively advertised for lease. Vacant unit can be shown, the rest can be seen with an accepted contract. Property is to be sold in "as-is" condition.

Key facts

• 5,248 sq ft lot
• 3 garage spots
• Built 1940

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/3.0-bath units multifamily listed at $505k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $335/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $505k).
• Recommended offer: $475k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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 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: Buder Elem. (math 12% / reading 22%, grade F, #967 of 1,115 statewide, top 88%, 403 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 (+4.0%/yr); 151 active listings in the ZIP; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• At $5,795/mo this rent would consume 99% of the median local household income ($70k/yr) (locally 922% 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 + 4.0% rent growth), your $141k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($475k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 8y 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.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $474,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.15% ✓
• Cap rate: 9.48%
• Cash-on-cash: 11.39%
• DSCR: 1.51
• GRM: 7.3

CMA / ARV

• ARV (median comp): $474,957
• List price: $505,000
• Delta: 6.33%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.98% rent growth · sell at horizon

5-year hold

• IRR: 1.7%
• Equity multiple: 1.07×
• Total profit: $9,335
• Equity at exit: $75,297

10-year hold

• IRR: 12.2%
• Equity multiple: 2.00×
• Total profit: $142,053
• Equity at exit: $43,663

Cash invested: $141,400 (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 63109

• Rents YoY: 4.0%
• Active inventory: 151
• Price-to-rent: 29.1×

Monthly cashflow live

• Estimated rent: $5,795 high
• Mortgage (P&I): −$2,648
• Tax from tax record: −$377 /mo · $4,530/yr
• Insurance: −$210
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,217
• Net cashflow: $1,342

Break-even live

Break-even rent $4,096

Max offer price $505,000

Occupancy floor 72%

Sensitivity live

Price	-10% $1,628	-5% $1,485	+0% $1,342	+5% $1,199	+10% $1,056
Rent	-10% $884	-5% $1,113	+0% $1,342	+5% $1,571	+10% $1,800
Rate	-1.0pp $1,596	-0.5pp $1,470	base $1,342	+0.5pp $1,211	+1.0pp $1,078

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	3	$5,796
Total (4 units)			$5,795

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: $126,250
• Closing costs: $15,150
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-21
   days on market $505,000 Active 65 DOM
2. 2026-06-18
   days on market $505,000 Active 62 DOM
3. 2026-06-17
   days on market $505,000 Active 61 DOM
4. 2026-06-16
   days on market $505,000 Active 60 DOM
5. 2026-06-15
   days on market $505,000 Active 59 DOM
6. 2026-06-13
   days on market $505,000 Active 57 DOM
7. 2026-06-09
   days on market $505,000 Active 53 DOM
8. 2026-06-08
   days on market $505,000 Active 52 DOM
9. 2026-06-07
   days on market $505,000 Active 51 DOM
10. 2026-06-05
    days on market $505,000 Active 48 DOM
11. 2026-06-03
    days on market $505,000 Active 47 DOM
12. 2026-06-02
    days on market $505,000 Active 46 DOM
13. 2026-06-01
    days on market $505,000 Active 45 DOM
14. 2026-05-31
    days on market $505,000 Active 44 DOM
15. 2026-04-17
    listed $505,000 Active 366-char remark

    Show marketing remark (366 chars)

    4 family brick home in the heart of South City behind Ted Drews Frozen Custard! Excellent opportunity for an owner occupant or to add to your portfolio. 3/4 units are currently rented out. 4th unit is being actively advertised for lease. Vacant unit can be shown, the rest can be seen with an accepted contract. Property is to be sold in "as-is" condition.

16. 2026-04-14
    historical $505,000 366-char remark

    Show marketing remark (366 chars)

    4 family brick home in the heart of South City behind Ted Drews Frozen Custard! Excellent opportunity for an owner occupant or to add to your portfolio. 3/4 units are currently rented out. 4th unit is being actively advertised for lease. Vacant unit can be shown, the rest can be seen with an accepted contract. Property is to be sold in "as-is" condition.

17. 2026-02-10
    price $519,500
18. 2026-01-15
    price $524,900
19. 2025-12-04
    historical $850
20. 2025-12-04
    price $529,000
21. 2025-11-29
    listed $850
22. 2025-11-12
    historical $850
23. 2025-11-04
    listed $535,000 Active
24. 2025-10-15
    price $850
25. 2025-09-01
    listed $975
26. 2025-09-01
    historical $975
27. 2025-08-13
    listed $975
28. 2025-01-17
    soldstatus Closed
29. 2025-01-14
    soldstatus $502,900
30. 2024-11-27
    status Pending
31. 2024-10-04
    listed $545,000 Active
32. 2018-08-28
    listed $335,000 Active
33. 2018-08-28
    status Pending
34. 2018-08-28
    soldstatus Closed
35. 2018-08-17
    soldstatus $335,000
36. 2007-07-17
    soldstatus $262,500

ⓘ 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: $4,530 · $377/mo
• Projected year-2 tax: $4,898 · $408/mo
• Expected delta: +$369/yr (+$31/mo · 8.1%)

ⓘ 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 ≥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: $69,540
• − Mortgage interest: −$28,288
• − Property taxes: −$4,530
• − Insurance: −$2,525
• − Repairs & maintenance: −$5,563
• − Management: −$5,563
• − Depreciation: −$14,691
• Taxable income: $8,380
• Est. tax owed @ 24.0%: −$2,011
• After-tax cash flow: $14,091/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): 25,236
• Household income: $69,938
• Rent vs Own: 39.1% rent · 60.9% own
• Severe rent burden: 922.0

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: Predominantly White (87%)
• Race & ethnicity: White 87% Black 6% Two or more races 3% Hispanic / Latino 3% Asian 1%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Other Indo-European 2% Spanish 1% Russian/Polish/Slavic 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: ▼ -215.58%
• Current HPI: 250.5412
• Rent YoY: ▲ 3.98%
• 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

+92.4% since first listed

22 events — show timeline

• 2026-04-17 Listed $505,000 MARIS as Distributed by MLS Grid
• 2026-04-14 Coming Soon $505,000 MARIS as Distributed by MLS Grid
• 2026-02-10 Price Changed $519,500 MARIS as Distributed by MLS Grid
• 2026-01-15 Price Changed $524,900 MARIS as Distributed by MLS Grid
• 2025-12-04 Rental Removed $850 MARIS
• 2025-12-04 Price Changed $529,000 MARIS as Distributed by MLS Grid
• 2025-11-29 Listed for Rent $850 MARIS
• 2025-11-12 Rental Removed $850 MARIS
• 2025-11-04 Listed $535,000 MARIS as Distributed by MLS Grid
• 2025-10-15 Price Changed $850 MARIS
• 2025-09-01 Listed for Rent $975 MARIS
• 2025-09-01 Rental Removed $975 MARIS
• 2025-08-13 Listed for Rent $975 MARIS
• 2025-01-17 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2025-01-14 Sold (Public Records) $502,900 Public Records
• 2024-11-27 Pending — MARIS as Distributed by MLS Grid
• 2024-10-04 Listed $545,000 MARIS as Distributed by MLS Grid
• 2018-08-28 Listed $335,000 MARIS as Distributed by MLS Grid
• 2018-08-28 Pending — MARIS as Distributed by MLS Grid
• 2018-08-28 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2018-08-17 Sold (Public Records) $335,000 Public Records
• 2007-07-17 Sold (Public Records) $262,500 Public Records

Property tax history

+6.2%/yr

Latest (2024): $4,530 · +4.9% YoY. Source: county tax records.