3659 S Broadway Unit 2660-3663-3665 · St. Louis, MO 63118

$675,000

81 bd · 81.0 ba · — sqft · MultiFamily · 337 Days on market

Built 1910 Good condition 9,583 sqft lot ↓ 7% since listing

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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
• Condition / age +4.0/5.0
• Rent growth +3.7/5.0
• Livability +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 9 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

One-of-a-kind Investor's dream, Turnkey 9-Family + commercial space in South City Excellent cash-flowing opportunity just minutes from I-55, Anheuser Busch, Lemp Brewery! This fully renovated 9-family building offering privacy and convenience. 8/9 units are rented at $750/m – one unit is owner occupied. It took less than a month to lease up 8/9 units in the building and they are all summer leases! Additionally a 4 bay commercial building in the front of the lot will be included in the sale. The commercial units can easily be turned into residential units for additional cashflow opportunity. Each unit has been thoughtfully updated with new electric meters, new water heaters, brand-new electrical, plumbing, new drywall, new hybrid mini splits, ensuring low maintenance for years to come. Interiors feature new hardwood flooring, white shaker cabinets, gas stovetops, refrigerators, and laundry hookups and stackable washer/dryer in dedicated closets. The basement has individual storage lockers dedicated for each unit. All units have private rear access, with the building situated behind a commercial space for added seclusion. A true turnkey asset in a great rental market—perfect for any investor looking for strong returns and long-term stability.

Key facts

• Fully renovated
• New electric meters
• New water heaters

Tags

• FULLY RENOVATED
• NEW ELECTRIC METERS
• NEW WATER HEATERS
• NEW HYBRID MINI SPLITS
• NEW HARDWOOD FLOORING
• WHITE SHAKER CABINETS

What this means for you Summary

Snapshot

• This is a 9 × 1-bed/1-bath units multifamily listed at $675k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $3k ($40k/yr) — positive. Per door: $371/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $675k).
• Recommended offer: $594k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.2% 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.
• 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 $10,129/mo this rent would consume 210% 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 $5k of loan paydown is wiped out by about $20k 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 $189k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 337 days — a 12% lower offer ($594k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $74k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $594,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 337 days. Have you received any prior offers? Is the seller open to a 12% 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 1910 — 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: 1.50% ✓
• Cap rate: 12.23%
• Cash-on-cash: 21.19%
• DSCR: 1.94
• GRM: 5.6

CMA / ARV

• ARV (median comp): $246,381
• List price: $675,000
• Delta: 173.97%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 15.8%
• Equity multiple: 1.65×
• Total profit: $122,942
• Equity at exit: $100,645

10-year hold

• IRR: 25.8%
• Equity multiple: 3.46×
• Total profit: $465,061
• Equity at exit: $58,362

Cash invested: $189,000 (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: 50.0×

Monthly cashflow live

• Estimated rent: $10,129 high
• Mortgage (P&I): −$3,540
• Tax est. 1.5%: −$844 /mo · $10,125/yr
• Insurance: −$281
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,127
• Net cashflow: $3,337

Break-even live

Break-even rent $5,905

Max offer price $675,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 9× units	1	1	$10,125
Total (9 units)			$10,129

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: $168,750
• Closing costs: $20,250
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $675,000 Active 337 DOM
2. 2026-06-17
   days on market $675,000 Active 336 DOM
3. 2026-06-16
   days on market $675,000 Active 335 DOM
4. 2026-06-15
   days on market $675,000 Active 334 DOM
5. 2026-06-13
   days on market $675,000 Active 332 DOM
6. 2026-06-09
   days on market $675,000 Active 328 DOM
7. 2026-06-08
   days on market $675,000 Active 327 DOM
8. 2026-06-08
   days on market $675,000 Active 326 DOM
9. 2026-06-05
   pricedays on market $675,000 Active 323 DOM
10. 2026-06-03
    days on market $695,000 Active 322 DOM
11. 2026-06-02
    days on market $695,000 Active 321 DOM
12. 2026-06-01
    days on market $695,000 Active 320 DOM
13. 2026-06-01
    days on market $695,000 Active 319 DOM
14. 2026-04-09
    status Active 1274-char remark

    Show marketing remark (1274 chars)

    One-of-a-kind Investor's dream, Turnkey 9-Family + commercial space in South City Excellent cash-flowing opportunity just minutes from I-55, Anheuser Busch, Lemp Brewery! This fully renovated 9-family building offering privacy and convenience. 8/9 units are rented at $750/m – one unit is owner occupied. It took less than a month to lease up 8/9 units in the building and they are all summer leases! Additionally a 4 bay commercial building in the front of the lot will be included in the sale. The commercial units can easily be turned into residential units for additional cashflow opportunity. Each unit has been thoughtfully updated with new electric meters, new water heaters, brand-new electrical, plumbing, new drywall, new hybrid mini splits, ensuring low maintenance for years to come. Interiors feature new hardwood flooring, white shaker cabinets, gas stovetops, refrigerators, and laundry hookups and stackable washer/dryer in dedicated closets. The basement has individual storage lockers dedicated for each unit. All units have private rear access, with the building situated behind a commercial space for added seclusion. A true turnkey asset in a great rental market—perfect for any investor looking for strong returns and long-term stability.

15. 2026-02-05
    price $695,000 1274-char remark

    Show marketing remark (1274 chars)

    One-of-a-kind Investor's dream, Turnkey 9-Family + commercial space in South City Excellent cash-flowing opportunity just minutes from I-55, Anheuser Busch, Lemp Brewery! This fully renovated 9-family building offering privacy and convenience. 8/9 units are rented at $750/m – one unit is owner occupied. It took less than a month to lease up 8/9 units in the building and they are all summer leases! Additionally a 4 bay commercial building in the front of the lot will be included in the sale. The commercial units can easily be turned into residential units for additional cashflow opportunity. Each unit has been thoughtfully updated with new electric meters, new water heaters, brand-new electrical, plumbing, new drywall, new hybrid mini splits, ensuring low maintenance for years to come. Interiors feature new hardwood flooring, white shaker cabinets, gas stovetops, refrigerators, and laundry hookups and stackable washer/dryer in dedicated closets. The basement has individual storage lockers dedicated for each unit. All units have private rear access, with the building situated behind a commercial space for added seclusion. A true turnkey asset in a great rental market—perfect for any investor looking for strong returns and long-term stability.

16. 2025-12-03
    status Active 1274-char remark

    Show marketing remark (1274 chars)

    One-of-a-kind Investor's dream, Turnkey 9-Family + commercial space in South City Excellent cash-flowing opportunity just minutes from I-55, Anheuser Busch, Lemp Brewery! This fully renovated 9-family building offering privacy and convenience. 8/9 units are rented at $750/m – one unit is owner occupied. It took less than a month to lease up 8/9 units in the building and they are all summer leases! Additionally a 4 bay commercial building in the front of the lot will be included in the sale. The commercial units can easily be turned into residential units for additional cashflow opportunity. Each unit has been thoughtfully updated with new electric meters, new water heaters, brand-new electrical, plumbing, new drywall, new hybrid mini splits, ensuring low maintenance for years to come. Interiors feature new hardwood flooring, white shaker cabinets, gas stovetops, refrigerators, and laundry hookups and stackable washer/dryer in dedicated closets. The basement has individual storage lockers dedicated for each unit. All units have private rear access, with the building situated behind a commercial space for added seclusion. A true turnkey asset in a great rental market—perfect for any investor looking for strong returns and long-term stability.

17. 2025-10-10
    historical Active Under Contract 1274-char remark

    Show marketing remark (1274 chars)

    One-of-a-kind Investor's dream, Turnkey 9-Family + commercial space in South City Excellent cash-flowing opportunity just minutes from I-55, Anheuser Busch, Lemp Brewery! This fully renovated 9-family building offering privacy and convenience. 8/9 units are rented at $750/m – one unit is owner occupied. It took less than a month to lease up 8/9 units in the building and they are all summer leases! Additionally a 4 bay commercial building in the front of the lot will be included in the sale. The commercial units can easily be turned into residential units for additional cashflow opportunity. Each unit has been thoughtfully updated with new electric meters, new water heaters, brand-new electrical, plumbing, new drywall, new hybrid mini splits, ensuring low maintenance for years to come. Interiors feature new hardwood flooring, white shaker cabinets, gas stovetops, refrigerators, and laundry hookups and stackable washer/dryer in dedicated closets. The basement has individual storage lockers dedicated for each unit. All units have private rear access, with the building situated behind a commercial space for added seclusion. A true turnkey asset in a great rental market—perfect for any investor looking for strong returns and long-term stability.

18. 2025-10-01
    price $719,000 1274-char remark

    Show marketing remark (1274 chars)

    One-of-a-kind Investor's dream, Turnkey 9-Family + commercial space in South City Excellent cash-flowing opportunity just minutes from I-55, Anheuser Busch, Lemp Brewery! This fully renovated 9-family building offering privacy and convenience. 8/9 units are rented at $750/m – one unit is owner occupied. It took less than a month to lease up 8/9 units in the building and they are all summer leases! Additionally a 4 bay commercial building in the front of the lot will be included in the sale. The commercial units can easily be turned into residential units for additional cashflow opportunity. Each unit has been thoughtfully updated with new electric meters, new water heaters, brand-new electrical, plumbing, new drywall, new hybrid mini splits, ensuring low maintenance for years to come. Interiors feature new hardwood flooring, white shaker cabinets, gas stovetops, refrigerators, and laundry hookups and stackable washer/dryer in dedicated closets. The basement has individual storage lockers dedicated for each unit. All units have private rear access, with the building situated behind a commercial space for added seclusion. A true turnkey asset in a great rental market—perfect for any investor looking for strong returns and long-term stability.

19. 2025-07-08
    listed $749,000 Active 1274-char remark

    Show marketing remark (1274 chars)

    One-of-a-kind Investor's dream, Turnkey 9-Family + commercial space in South City Excellent cash-flowing opportunity just minutes from I-55, Anheuser Busch, Lemp Brewery! This fully renovated 9-family building offering privacy and convenience. 8/9 units are rented at $750/m – one unit is owner occupied. It took less than a month to lease up 8/9 units in the building and they are all summer leases! Additionally a 4 bay commercial building in the front of the lot will be included in the sale. The commercial units can easily be turned into residential units for additional cashflow opportunity. Each unit has been thoughtfully updated with new electric meters, new water heaters, brand-new electrical, plumbing, new drywall, new hybrid mini splits, ensuring low maintenance for years to come. Interiors feature new hardwood flooring, white shaker cabinets, gas stovetops, refrigerators, and laundry hookups and stackable washer/dryer in dedicated closets. The basement has individual storage lockers dedicated for each unit. All units have private rear access, with the building situated behind a commercial space for added seclusion. A true turnkey asset in a great rental market—perfect for any investor looking for strong returns and long-term stability.

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

Taxation est. · year 1

• Rental income: $121,548
• − Mortgage interest: −$37,810
• − Property taxes: −$10,125
• − Insurance: −$3,375
• − Repairs & maintenance: −$9,724
• − Management: −$9,724
• − Depreciation: −$19,636
• Taxable income: $31,153
• Est. tax owed @ 24.0%: −$7,477
• After-tax cash flow: $32,569/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This fully renovated 9-family building offers a turnkey investment opportunity with good condition and minimal repairs needed.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more tenants
• Both Add energy-efficient windows — Reduces energy costs and enhances property value
• Both Install smart home technology — Attracts tech-savvy tenants and enhances property value

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more tenants ↑
• Both Add energy-efficient windows — Reduces energy costs and enhances property value ↑
• Both Install smart home technology — Attracts tech-savvy tenants and enhances property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-7.2% since first listed

6 events — show timeline

• 2026-04-09 Relisted — MARIS as Distributed by MLS Grid
• 2026-02-05 Price Changed $695,000 MARIS as Distributed by MLS Grid
• 2025-12-03 Relisted — MARIS as Distributed by MLS Grid
• 2025-10-10 Contingent — MARIS as Distributed by MLS Grid
• 2025-10-01 Price Changed $719,000 MARIS as Distributed by MLS Grid
• 2025-07-08 Listed $749,000 MARIS as Distributed by MLS Grid