1824 N 22nd St · St. Louis, MO 63106

$79,900

15 bd · 4.0 ba · 3,120 sqft · MultiFamily public records · 173 Days on market

Built 1897 2,626 sqft lot $26/sqft · 41% above area Est $57k · 41% over ↓ 25% since listing

---

Why this score? — see what drove the D- 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 +15.0/30.0
• Appreciation +6.0/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Motivated Seller!! Don't miss this triplex directly across from the new NGA headquarters! Fantastic location in the historic St Louis Place neighborhood. Come breath new life in to this architecturally beautiful property. Some heavy lifting has already been completed with furnaces in each unit, one new water heater, and updated electric services. The left side is a 2 bedroom townhouse style unit with room to add an additional bedroom. The right side of the building is two shotgun style apartments with kitchens in the rear and living rooms in front. Potential rent of $800 for the one bedroom apartments and $1400 for the townhouse unit. Property to be sold "as-is". Ask about packaging this building with 2 other fully occupied duplexes! See 1942 Clara Ave and 5892 Highland Ave. You could begin cash-flowing from Day 1!

Key facts

• Townhouse style unit
• New water heater
• Kitchens in the rear

Tags

• FURNACES IN EACH UNIT
• NEW WATER HEATER
• UPDATED ELECTRIC SERVICE
• TOWNHOUSE STYLE UNIT
• SHOTGUN STYLE APARTMENTS
• KITCHENS IN THE REAR

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/4.0-bath units multifamily listed at $80k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $780/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 41.4% 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 D — 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: 15 active listings in the ZIP; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($552 loan paydown + $2k appreciation (1.9% 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 (1.9% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 173 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $40k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1897 — 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 $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 173 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 1897 — 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. 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?
8. 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.
9. 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.
10. 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: 4.46% ✓
• Cap rate: 41.44%
• Cash-on-cash: 125.54%
• DSCR: 6.59
• GRM: 1.9

CMA / ARV

• ARV (median comp): $56,756
• List price: $79,900
• Delta: 40.78%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

1.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.89×
• Total profit: $154,175
• Equity at exit: $31,113

10-year hold

• IRR: —
• Equity multiple: 16.46×
• Total profit: $345,839
• Equity at exit: $44,496

Cash invested: $22,372 (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 63106

• Home prices YoY: 1.4%
• Active inventory: 15
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $3,560 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$20 /mo · $235/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$748
• Net cashflow: $2,341

Break-even live

Break-even rent $597

Max offer price $79,900

Occupancy floor 29%

Sensitivity live

Price	-10% $2,386	-5% $2,363	+0% $2,341	+5% $2,318	+10% $2,295
Rent	-10% $2,059	-5% $2,200	+0% $2,341	+5% $2,481	+10% $2,622
Rate	-1.0pp $2,381	-0.5pp $2,361	base $2,341	+0.5pp $2,320	+1.0pp $2,299

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	4	$3,561
Total (3 units)			$3,560

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-09
   days on market $79,900 Active 173 DOM
2. 2026-06-08
   days on market $79,900 Active 172 DOM
3. 2026-06-08
   days on market $79,900 Active 171 DOM
4. 2026-06-05
   days on market $79,900 Active 168 DOM
5. 2026-06-03
   days on market $79,900 Active 167 DOM
6. 2026-06-02
   days on market $79,900 Active 166 DOM
7. 2026-06-02
   price $79,900 Active 165 DOM
8. 2026-06-01
   days on market $89,900 Active 165 DOM
9. 2026-05-31
   days on market $89,900 Active 164 DOM
10. 2026-04-03
    status Active 836-char remark

    Show marketing remark (836 chars)

    Motivated Seller!! Don't miss this triplex directly across from the new NGA headquarters! Fantastic location in the historic St Louis Place neighborhood. Come breath new life in to this architecturally beautiful property. Some heavy lifting has already been completed with furnaces in each unit, one new water heater, and updated electric services. The left side is a 2 bedroom townhouse style unit with room to add an additional bedroom. The right side of the building is two shotgun style apartments with kitchens in the rear and living rooms in front. Potential rent of $800 for the one bedroom apartments and $1400 for the townhouse unit. Property to be sold "as-is". Ask about packaging this building with 2 other fully occupied duplexes! See 1942 Clara Ave and 5892 Highland Ave. You could begin cash-flowing from Day 1!

11. 2026-03-27
    status Pending 836-char remark

    Show marketing remark (836 chars)

    Motivated Seller!! Don't miss this triplex directly across from the new NGA headquarters! Fantastic location in the historic St Louis Place neighborhood. Come breath new life in to this architecturally beautiful property. Some heavy lifting has already been completed with furnaces in each unit, one new water heater, and updated electric services. The left side is a 2 bedroom townhouse style unit with room to add an additional bedroom. The right side of the building is two shotgun style apartments with kitchens in the rear and living rooms in front. Potential rent of $800 for the one bedroom apartments and $1400 for the townhouse unit. Property to be sold "as-is". Ask about packaging this building with 2 other fully occupied duplexes! See 1942 Clara Ave and 5892 Highland Ave. You could begin cash-flowing from Day 1!

12. 2026-02-18
    price $89,900 836-char remark

    Show marketing remark (836 chars)

    Motivated Seller!! Don't miss this triplex directly across from the new NGA headquarters! Fantastic location in the historic St Louis Place neighborhood. Come breath new life in to this architecturally beautiful property. Some heavy lifting has already been completed with furnaces in each unit, one new water heater, and updated electric services. The left side is a 2 bedroom townhouse style unit with room to add an additional bedroom. The right side of the building is two shotgun style apartments with kitchens in the rear and living rooms in front. Potential rent of $800 for the one bedroom apartments and $1400 for the townhouse unit. Property to be sold "as-is". Ask about packaging this building with 2 other fully occupied duplexes! See 1942 Clara Ave and 5892 Highland Ave. You could begin cash-flowing from Day 1!

13. 2026-01-21
    price $99,900 836-char remark

    Show marketing remark (836 chars)

    Motivated Seller!! Don't miss this triplex directly across from the new NGA headquarters! Fantastic location in the historic St Louis Place neighborhood. Come breath new life in to this architecturally beautiful property. Some heavy lifting has already been completed with furnaces in each unit, one new water heater, and updated electric services. The left side is a 2 bedroom townhouse style unit with room to add an additional bedroom. The right side of the building is two shotgun style apartments with kitchens in the rear and living rooms in front. Potential rent of $800 for the one bedroom apartments and $1400 for the townhouse unit. Property to be sold "as-is". Ask about packaging this building with 2 other fully occupied duplexes! See 1942 Clara Ave and 5892 Highland Ave. You could begin cash-flowing from Day 1!

14. 2025-12-11
    listed $119,900 Active 836-char remark

    Show marketing remark (836 chars)

    Motivated Seller!! Don't miss this triplex directly across from the new NGA headquarters! Fantastic location in the historic St Louis Place neighborhood. Come breath new life in to this architecturally beautiful property. Some heavy lifting has already been completed with furnaces in each unit, one new water heater, and updated electric services. The left side is a 2 bedroom townhouse style unit with room to add an additional bedroom. The right side of the building is two shotgun style apartments with kitchens in the rear and living rooms in front. Potential rent of $800 for the one bedroom apartments and $1400 for the townhouse unit. Property to be sold "as-is". Ask about packaging this building with 2 other fully occupied duplexes! See 1942 Clara Ave and 5892 Highland Ave. You could begin cash-flowing from Day 1!

ⓘ 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: $235 · $20/mo
• Projected year-2 tax: $775 · $65/mo
• Expected delta: +$540/yr (+$45/mo · 230.1%)

ⓘ 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 5/10 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: $42,720
• − Mortgage interest: −$4,476
• − Property taxes: −$235
• − Insurance: −$400
• − Repairs & maintenance: −$3,418
• − Management: −$3,418
• − Depreciation: −$2,324
• Taxable income: $28,451
• Est. tax owed @ 24.0%: −$6,828
• After-tax cash flow: $21,258/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
• City population: 283,259
• Population (ZIP): 7,742

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 Black (89%)
• Race & ethnicity: Black 89% White 7% Two or more races 2% Hispanic / Latino 2%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 2%

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: ▲ 1.91%
• Current HPI: 133.284
• Rent YoY: —
• Metro: —
• 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

-25.0% since first listed

5 events — show timeline

• 2026-04-03 Relisted — MARIS as Distributed by MLS Grid
• 2026-03-27 Pending — MARIS as Distributed by MLS Grid
• 2026-02-18 Price Changed $89,900 MARIS as Distributed by MLS Grid
• 2026-01-21 Price Changed $99,900 MARIS as Distributed by MLS Grid
• 2025-12-11 Listed $119,900 MARIS as Distributed by MLS Grid

Property tax history

+0.8%/yr

Latest (2024): $235 · +4.5% YoY. Source: county tax records.