3401 Chippewa St · St. Louis, MO 63118

$575,000

8 bd · 3.0 ba · 6,180 sqft · MultiFamily public records · 9 Days on market

Built 1904 2,935 sqft lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Rent growth +3.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +2.0/30.0
• Schools +1.2/10.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• 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

Immediate stream of income. Beautiful mix-use property. 5 residential units and 1 commercial space. Commercial space is a daycare on a lease paying $1250 per month. The 5 residential units bring in another $3,395 per month. There is 1 large efficiency unit, 1 one bedroom lofted unit, top 2 floors is a massive 2 bedroom townhome (a must see) and 2 two-bedroom townhouse units. Great back-yard courtyard with brick and landscaping. There are 5 parking spaces off street and plenty on on-street parking. Every square foot has central air and forced air heat. All units have w/ d hook-up and some have fireplaces. All units occupied with long term, responsible tenants long term tenants. 3 Tenants are

Key facts

• 2,935 sq ft lot
• Built 1904
• Listed 9 days

Property features AI

Finance

• Financial info: Gross income: $55,740; Net operating income: $40,084; Other expenses: $15,656

Exterior

• Parking: Assigned parking in a parking lot
• Utilities: Public water; Electric service by Ameren
• Home design: Residential income property (5-family); Updated/remodeled condition; Multi-level building
• Construction: Asphalt and brick construction materials; Brick/mortar, combination, and concrete perimeter foundation
• Exterior features: Courtyard; Uncovered courtyard; Exterior lighting; Private entrances; Private yard; Back yard fencing; Privacy fencing; Wire fencing; Wood fencing; City lot; Near public transit

Interior

• Bedrooms: Five total units: mix of efficiencies, lofts, and 1–2 bedroom units (unit types include Efficiency, Loft, and 2 Bedroom)
• Flooring: Carpet; Ceramic tile; Combination flooring; Vinyl
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Gas water heater; Unfinished basement
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 8-bed/3.0-bath multifamily listed at $575k.

Deal economics

• At list price, monthly cash flow is $-2k ($-26k/yr) — negative.
• To cash-flow at today's rent, offer at most $199k (65.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (68.5% below list).
• Recommended offer: $181k (68.5% below list) — sets the bar for 1% rule.
• Cap rate 1.9% vs local median 5.0% in St. Louis — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads: area grade F — 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); 243 active listings in the ZIP; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• This rent runs 38% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $17k 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.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $181,160 (68.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1904 — 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: 0.32% ✗
• Cap rate: 1.85%
• Cash-on-cash: -15.86%
• DSCR: 0.29
• GRM: 26.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -45.8%
• Equity multiple: -0.40×
• Total profit: $-225,385
• Equity at exit: $85,734

10-year hold

• IRR: -75.2%
• Equity multiple: -1.22×
• Total profit: $-356,685
• Equity at exit: $49,715

Cash invested: $161,000 (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: 243
• Price-to-rent: 26.4×

Monthly cashflow live

• Estimated rent: $1,812 medium
• Mortgage (P&I): −$3,015
• Tax from tax record: −$304 /mo · $3,643/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $-2,127

Break-even live

Break-even rent $4,504

Max offer price $199,194

Occupancy floor —

Sensitivity live

Price	-10% $-1,802	-5% $-1,965	+0% $-2,127	+5% $-2,290	+10% $-2,453
Rent	-10% $-2,270	-5% $-2,199	+0% $-2,127	+5% $-2,056	+10% $-1,984
Rate	-1.0pp $-1,838	-0.5pp $-1,981	base $-2,127	+0.5pp $-2,276	+1.0pp $-2,428

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $575,000 Active 9 DOM
2. 2026-06-18
   days on market $575,000 Active 6 DOM
3. 2026-06-17
   days on market $575,000 Active 5 DOM
4. 2026-06-16
   days on market $575,000 Active 4 DOM
5. 2026-06-15
   days on market $575,000 Active 3 DOM
6. 2026-06-13
   statusdays on market $575,000 Active 1 DOM
7. 2026-06-09
   days on market $575,000 Coming Soon 12 DOM
8. 2026-06-08
   days on market $575,000 Coming Soon 11 DOM
9. 2026-06-07
   days on market $575,000 Coming Soon 10 DOM
10. 2026-06-05
    days on market $575,000 Coming Soon 7 DOM
11. 2026-06-03
    days on market $575,000 Coming Soon 6 DOM
12. 2026-06-02
    days on market $575,000 Coming Soon 5 DOM
13. 2026-06-01
    days on market $575,000 Coming Soon 4 DOM
14. 2026-05-31
    days on market $575,000 Coming Soon 3 DOM
15. 2026-05-25
    historical $575,000
16. 2019-01-02
    price $374,900
17. 2018-11-19
    price $375,000

ⓘ 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: $3,643 · $304/mo
• Projected year-2 tax: $5,578 · $465/mo
• Expected delta: +$1,935/yr (+$161/mo · 53.1%)

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

Taxation est. · year 1

• Rental income: $21,739
• − Mortgage interest: −$32,209
• − Property taxes: −$3,643
• − Insurance: −$2,875
• − Repairs & maintenance: −$1,739
• − Management: −$1,739
• − Depreciation: −$16,727
• Taxable loss: −$37,193
• Est. tax savings @ 24.0%: +$8,926
• After-tax cash flow: $-16,602/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

+53.3% since first listed

3 events — show timeline

• 2026-05-25 Coming Soon $575,000 MARIS as Distributed by MLS Grid
• 2019-01-02 Price Changed $374,900 MARIS as Distributed by MLS Grid
• 2018-11-19 Price Changed $375,000 MARIS as Distributed by MLS Grid

Property tax history

+0.9%/yr

Latest (2022): $3,643 · +0.1% YoY. Source: county tax records.