2343 Menard St · St. Louis, MO 63104

$489,900

24 bd · 4.0 ba · 2,860 sqft · MultiFamily public records · 51 Days on market

Built 1892 4,303 sqft lot $171/sqft · 34% above area Est $418k · 17% over ↓ 1% since listing

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Rent growth +4.4/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0
• 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

Ready to stop renting and start building wealth—without giving up your social life? This awesome Soulard 4-family is your chance to own real estate and stay close to the good times. Just a short stumble from McGurk’s, Tucker’s, and Molly’s, you’ll be right in the mix of St. Louis’ best nightlife—minus the Uber bills. Live in one unit & rent out the other three to cover most (or maybe all) of your mortgage. That’s right—live practically free while building equity. The 1st-floor units have a classic setup: living room, kitchen & private bedroom. But the upstairs units? Total game-changers. These are 2-story townhome-style apart

Key facts

• Big backyard
• Off street parking
• Coin op laundry

Tags

• COIN OP LAUNDRY
• OFF STREET PARKING
• BIG BACKYARD
• PATIO

Property features AI

Finance

• Other: Above-grade living area reported as 3,260 (source: appraiser); One building containing 4 total units (2 units currently leased); Number of units in community: 4
• Financial info: Lease considered: No

Exterior

• Parking: Off-street parking for 3 vehicles
• Utilities: Public water; Electric service: Ameren
• Home design: Residential income property; 2–4 unit property (quadruplex); Three or more levels; Facing direction not specified; Entry level not specified
• Construction: Brick construction
• Exterior features: Public water; Brick construction

Interior

• Bedrooms: Two 2-bedroom units; Two 1-bedroom units
• Bathrooms: Two 1-bath units (each 1-bedroom unit has 1 bath); Two 1-bath units (each 2-bedroom unit has 1 bath)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full basement; Wood burning stove (fireplace) with a total of 4 fireplaces; Forced air heating; Central air conditioning

What this means for you Summary

Snapshot

• This is a 4 × 6-bed/2.0-bath units multifamily listed at $490k.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive. Per door: $653/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $490k).
• Recommended offer: $475k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.7% 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: Shenandoah Elem. (math 5% / reading 5%, grade F, #1,072 of 1,115 statewide, top 98%, 136 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 (+7.5%/yr); 165 active listings in the ZIP; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• At $7,192/mo this rent would consume 126% of the median local household income ($69k/yr) (locally 1429% 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 + 7.5% rent growth), your $137k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($475k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1892 — 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 $475,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% 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 1892 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.47% ✓
• Cap rate: 12.69%
• Cash-on-cash: 22.84%
• DSCR: 2.02
• GRM: 5.7

CMA / ARV

• ARV (median comp): $417,500
• List price: $489,900
• Delta: 17.34%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.52% rent growth · sell at horizon

5-year hold

• IRR: 20.5%
• Equity multiple: 1.88×
• Total profit: $120,985
• Equity at exit: $73,046

10-year hold

• IRR: 31.5%
• Equity multiple: 4.45×
• Total profit: $473,168
• Equity at exit: $42,358

Cash invested: $137,172 (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 63104

• Rents YoY: 7.5%
• Active inventory: 165
• Price-to-rent: 22.7×

Monthly cashflow live

• Estimated rent: $7,192 medium
• Mortgage (P&I): −$2,569
• Tax from tax record: −$298 /mo · $3,577/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,510
• Net cashflow: $2,610

Break-even live

Break-even rent $3,888

Max offer price $489,900

Occupancy floor 59%

Sensitivity live

Price	-10% $2,888	-5% $2,749	+0% $2,610	+5% $2,472	+10% $2,333
Rent	-10% $2,042	-5% $2,326	+0% $2,610	+5% $2,894	+10% $3,179
Rate	-1.0pp $2,857	-0.5pp $2,735	base $2,610	+0.5pp $2,483	+1.0pp $2,354

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

Units	Beds	Baths	Est. rent
▸ 4× units	6	2	$7,192
Total (4 units)			$7,192

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: $122,475
• Closing costs: $14,697
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $489,900 Active 51 DOM
2. 2026-06-17
   days on market $489,900 Active 50 DOM
3. 2026-06-16
   days on market $489,900 Active 49 DOM
4. 2026-06-15
   days on market $489,900 Active 48 DOM
5. 2026-06-13
   days on market $489,900 Active 46 DOM
6. 2026-06-09
   days on market $489,900 Active 42 DOM
7. 2026-06-08
   days on market $489,900 Active 41 DOM
8. 2026-06-07
   days on market $489,900 Active 40 DOM
9. 2026-06-05
   days on market $489,900 Active 37 DOM
10. 2026-06-03
    days on market $489,900 Active 36 DOM
11. 2026-06-02
    pricedays on market $489,900 Active 35 DOM
12. 2026-06-01
    days on market $495,000 Active 34 DOM
13. 2026-05-31
    days on market $495,000 Active 33 DOM
14. 2026-04-28
    listed $495,000 Active 1425-char remark

ⓘ 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: $3,577 · $298/mo
• Projected year-2 tax: $4,752 · $396/mo
• Expected delta: +$1,175/yr (+$98/mo · 32.9%)

ⓘ 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: $86,304
• − Mortgage interest: −$27,442
• − Property taxes: −$3,577
• − Insurance: −$2,450
• − Repairs & maintenance: −$6,904
• − Management: −$6,904
• − Depreciation: −$14,252
• Taxable income: $24,775
• Est. tax owed @ 24.0%: −$5,946
• After-tax cash flow: $25,379/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): 19,007
• Household income: $68,764
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 1429.0

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 0.60)
• Race & ethnicity: White 51% Black 37% Two or more races 6% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Other Indo-European 2% Spanish 1% German/W. Germanic 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: ▼ -159.69%
• Current HPI: 252.3452
• Rent YoY: ▲ 7.52%
• 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

-1.0% since first listed

2 events — show timeline

• 2026-06-02 Price Changed $489,900 MARIS as Distributed by MLS Grid
• 2026-04-28 Listed $495,000 MARIS as Distributed by MLS Grid

Property tax history

+3.0%/yr

Latest (2024): $3,577 · +4.8% YoY. Source: county tax records.