1520 Washington Ave Unit R616 · St. Louis, MO 63103

$104,000

2 bd · 2.0 ba · 1,340 sqft · Condo public records · 24 Days on market

Built 1906 $250/mo HOA · 16% of rent ↓ 31% 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 +25.6/30.0
• 1% rule +10.0/10.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Rent growth +4.8/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks

INVESTORS!! We have a package deal in the historic Ely Walker building of 3 loft units in the same building. All units are fully rented at market pricing with great 1%+ returns monthly. Unit 616 with deeded parking spot 2 bedroom 2 bathroom, 1340 sq ft, rented at $1290/month Unit 617 2 bedroom 1 bathroom, 1057 sq ft, rented at $1200 /month Unit 327 1 bedroom 1 bathroom, 900 sq ft rented at $1290 /month HOA amounts are $190-$250 depending on sq footage Showings can be scheduled, you must call the list agent to arrange a time.

Key facts

• $250 HOA
• Garage
• Built 1906

Property features AI

Finance

• Other: Living area reported as 1,340 (public records)
• HOA & community: Part of Ely Walker association; Monthly association fee of $250; Association amenities include barbecue, common grounds, elevators, fitness center, interior game court, parking, party room, picnic area and storage; HOA fee covers janitorial service, ground maintenance, common area maintenance, exterior maintenance, management, parking fee, recreational facilities, roof, sewer, snow removal, trash and water

Exterior

• Parking: Has garage; Building offers parking
• Utilities: Public water; Public sewer; Electric service by Ameren; Electricity connected, natural gas connected, sewer connected, water connected
• Home design: Residential condominium; One level
• Construction: Brick, concrete, glass and other construction materials
• Exterior features: City lot; Downtown neighborhood location

Interior

• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 2 full bathrooms (main level)
• Interior features: Forced air heating; Central air conditioning; 6 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $104k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $104k).
• Recommended offer: $102k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.1% 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: 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 4d 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).
• At $1,563/mo this rent would consume 46% of the median local household income ($41k/yr) (locally 960% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $1k of equity ($719 loan paydown + $691 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 $29k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($102k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1906 — 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 $102,440 (1.5% below list)

Questions for the listing agent

1. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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: 1.50% ✓
• Cap rate: 9.14%
• Cash-on-cash: 10.16%
• DSCR: 1.45
• GRM: 5.5

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: 15.9%
• Equity multiple: 1.84×
• Total profit: $24,400
• Equity at exit: $33,699

10-year hold

• IRR: 23.5%
• Equity multiple: 4.34×
• Total profit: $97,302
• Equity at exit: $43,420

Cash invested: $29,120 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,563 high
• Mortgage (P&I): −$545
• Tax from tax record: −$150 /mo · $1,795/yr
• Insurance: −$43
• HOA: −$250
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $247

Break-even live

Break-even rent $1,251

Max offer price $104,000

Occupancy floor 79%

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: $26,000
• Closing costs: $3,120
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1627 Washington Ave Apt 503 St. Louis, MO	2.0	2.0	1400	$1,750	$1.25	43d	1	0.05mi
1627 Washington Ave Unit 202 St. Louis, MO	2.0	1.0	1450	$1,625	$1.12	43d	1	0.05mi
1635 Washington Ave Saint Louis, MO	1.0–2.0	1.0	1135	$1,495	$1.32	2d	4	0.06mi
1501 Locust St Saint Louis, MO	1.0	1.0	1002	$1,200	$1.20	43d	1	0.09mi
1709 Washington Ave St. Louis, MO	1.0	1.5	1200	$1,200	$1.00	16d	1	0.10mi
1706 Washington Ave St. Louis, MO	1.0–2.0	1.0–2.0	997	$1,761	$1.77	1d	10	0.11mi
1324 Washington Ave St. Louis, MO	2.0	2.0	1789	$1,962	$1.10	1d	1	0.16mi
1800 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	927	$1,645	$1.77	43d	13	0.18mi
1307 Washington Ave St. Louis, MO	1.0–2.0	1.0	1261	$1,485	$1.18	7d	17	0.19mi
1717 Olive St Saint Louis, MO	2.0	1.0–2.0	957	$2,982	$3.12	1d	64	0.20mi
1815 Locust St Saint Louis, MO	1.0–2.0	1.0–2.0	983	$1,543	$1.57	43d	7	0.22mi
1405 Pine St St. Louis, MO	2.0	2.0	1020	$1,240	$1.22	3d	1	0.23mi
1901 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	1076	$1,500	$1.39	4d	38	0.24mi
1300 Convention Plz Saint Louis, MO	2.0	1.0	877	$1,350	$1.54	43d	1	0.25mi
1209 Washington Ave Saint Louis, MO	1.0–2.0	1.5–2.0	1483	$2,190	$1.48	1d	22	0.27mi
1900 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	960	$1,650	$1.72	1d	12	0.27mi
1226 Olive St St. Louis, MO	1.0–2.0	1.0–2.0	1157	$1,700	$1.47	1d	2	0.29mi
1133 Washington Ave St. Louis, MO	2.0	1.0–2.0	637	$1,292	$2.03	43d	1	0.32mi
300 N Tucker Blvd St. Louis, MO	1.0–2.0	1.0–2.0	1013	$1,875	$1.85	1d	10	0.34mi
1110 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	1006	$1,426	$1.42	2d	19	0.37mi
2034 Lucas Ave St. Louis, MO	1.0–2.0	1.0	1080	$1,525	$1.41	43d	1	0.39mi
715 N 21st St St. Louis, MO	1.0–2.0	1.0–2.0	900	$1,355	$1.51	23d	1	0.42mi
1000 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	959	$1,950	$2.03	1d	24	0.43mi
1014 Locust St Saint Louis, MO	1.0–2.0	1.0–2.0	1110	$2,070	$1.86	1d	2	0.43mi
1006 Olive St Unit 702 St. Louis, MO	2.0	2.0	1400	$1,600	$1.14	43d	1	0.46mi
1115 Carr St St. Louis, MO	1.0–2.0	1.0	747	$1,123	$1.50	4d	13	0.49mi
2200 Locust St Saint Louis, MO	1.0–2.0	1.0–1.5	862	$1,695	$1.97	3d	6	0.49mi
2206 Lucas Ave St. Louis, MO	1.0–2.0	1.0–2.0	1047	$1,900	$1.81	1d	20	0.50mi
416 N 23rd St St. Louis, MO	1.0–2.0	1.0	780	$1,775	$2.28	4d	23	0.54mi
1111 Biddle St Saint Louis, MO	2.0	1.0	1200	$1,295	$1.08	43d	1	0.55mi
206 N 9th St Unit 307 St. Louis, MO	2.0	1.0	897	$1,100	$1.23	4d	1	0.56mi
206 N 9th St Unit 916 St. Louis, MO	2.0	2.0	914	$1,250	$1.37	23d	1	0.56mi
206 N 9th St Unit 1306 St. Louis, MO	2.0	2.0	897	$1,250	$1.39	43d	1	0.56mi
800 Olive St Saint Louis, MO	1.0–2.0	1.0–2.0	1063	$2,319	$2.18	1d	26	0.59mi
2323 Locust ST #308 St Louis, MO	2.0	1.0	1386	$1,750	$1.26	23d	1	0.61mi
2323 Locust St Saint Louis, MO	1.0–2.0	1.0	1239	$1,750	$1.41	43d	2	0.62mi
720 Olive St St. Louis, MO	3.0	1.0–2.0	1778	$3,723	$2.09	1d	15	0.63mi
1023 Spruce St St. Louis, MO	1.0–2.0	1.0–2.0	957	$1,425	$1.49	1d	17	0.66mi
2605-2637 Washington Ave St. Louis, MO	1.0–2.0	1.0–2.0	775	$1,645	$2.12	11d	7	0.67mi
1204 N 8th St St. Louis, MO	1.0–3.0	1.0	740	$869	$1.17	1d	19	0.72mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $104,000 Active 24 DOM
2. 2026-06-17
   days on market $104,000 Active 23 DOM
3. 2026-06-16
   days on market $104,000 Active 22 DOM
4. 2026-06-15
   days on market $104,000 Active 21 DOM
5. 2026-06-13
   days on market $104,000 Active 19 DOM
6. 2026-06-09
   days on market $104,000 Active 15 DOM
7. 2026-06-08
   days on market $104,000 Active 14 DOM
8. 2026-06-07
   days on market $104,000 Active 13 DOM
9. 2026-06-05
   days on market $104,000 Active 10 DOM
10. 2026-06-03
    days on market $104,000 Active 9 DOM
11. 2026-06-02
    days on market $104,000 Active 8 DOM
12. 2026-06-01
    days on market $104,000 Active 7 DOM
13. 2026-05-31
    days on market $104,000 Active 6 DOM
14. 2026-05-25
    listed $104,000 Active
15. 2022-04-22
    soldstatus $150,000

ⓘ 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: $1,795 · $150/mo
• Projected year-2 tax: $1,795 · $150/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: $18,757
• − Mortgage interest: −$5,826
• − Property taxes: −$1,795
• − Insurance: −$520
• − Repairs & maintenance: −$1,501
• − Management: −$1,501
• − HOA: −$3,000
• − Depreciation: −$3,025
• Taxable income: $1,590
• Est. tax owed @ 24.0%: −$382
• After-tax cash flow: $2,577/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

-30.7% since first listed

2 events — show timeline

• 2026-05-25 Listed $104,000 MARIS as Distributed by MLS Grid
• 2022-04-22 Sold (Public Records) $150,000 Public Records

Property tax history

+1.3%/yr

Latest (2024): $1,795 · +5.1% YoY. Source: county tax records.