1010 Bittner St · St. Louis, MO 63147

$16,000

None bd · 2.0 ba · 2,648 sqft · MultiFamily public records · 126 Days on market

Built 1906 3,750 sqft lot $6/sqft · 85% below area

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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
• ARV discount +7.5/15.0
• 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
• 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 MLS

Investor special! This complete fixer-upper is being sold as-is, where-is, in its current condition — no inspections or repairs by seller. Excellent opportunity for rehabbers, cash buyers, or seasoned investors looking to add value in a growing area. With strong rental demand and ongoing revitalization nearby, this property offers serious upside for those ready to roll up their sleeves and bring new life to the block.

Key facts

• 3,750 sq ft lot
• Built 1906
• Listed 125 days

What this means for you Summary

Snapshot

• This is a ?-bed/2.0-bath multifamily listed at $16k.

Deal economics

• At list price, monthly cash flow is $684 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $16k).
• Recommended offer: $14k (12.0% below list) — sets the bar for market timing.
• Cap rate 57.6% 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: 57 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $111 of loan paydown is wiped out by about $480 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 + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($14k) 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 $14,080 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 6.32% ✓
• Cap rate: 57.56%
• Cash-on-cash: 183.09%
• DSCR: 9.15
• GRM: 1.3

CMA / ARV

• ARV (median comp): $110,000
• List price: $16,000
• Delta: -85.45%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1047 Veronica	0.59mi	2/4.0	2,450 (-8%)	2mo	$110,000	$45	50
1048 Sells Ave	0.33mi	6/3.0	2,950 (+11%)	20mo	$71,000	$24	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 10.14×
• Total profit: $40,961
• Equity at exit: $2,386

10-year hold

• IRR: —
• Equity multiple: 21.49×
• Total profit: $91,800
• Equity at exit: $1,383

Cash invested: $4,480 (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 63147

• Home prices YoY: -31.4%
• Active inventory: 57
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $1,011 medium
• Mortgage (P&I): −$84
• Tax from tax record: −$25 /mo · $297/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $684

Break-even live

Break-even rent $146

Max offer price $16,000

Occupancy floor 27%

Sensitivity live

Price	-10% $693	-5% $688	+0% $684	+5% $679	+10% $674
Rent	-10% $604	-5% $644	+0% $684	+5% $723	+10% $763
Rate	-1.0pp $692	-0.5pp $688	base $684	+0.5pp $679	+1.0pp $675

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: $4,000
• Closing costs: $480
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6037 West Florissant Ave Saint Louis, MO	2.0	1.0	3596	$1,050	$0.29	25d	1	1.07mi
5944 Thekla Ave Saint Louis, MO	2.0	1.0	1760	$975	$0.55	45d	1	1.31mi
5944 Thekla Ave Saint Louis, MO	2.0	1.0	1760	$975	$0.55	0d	1	1.31mi

Listing history 18 events

1. 2026-06-21
   days on market $16,000 Active 126 DOM
2. 2026-06-18
   days on market $16,000 Active 123 DOM
3. 2026-06-17
   days on market $16,000 Active 122 DOM
4. 2026-06-16
   days on market $16,000 Active 121 DOM
5. 2026-06-15
   days on market $16,000 Active 120 DOM
6. 2026-06-13
   days on market $16,000 Active 118 DOM
7. 2026-06-09
   days on market $16,000 Active 114 DOM
8. 2026-06-08
   days on market $16,000 Active 113 DOM
9. 2026-06-08
   days on market $16,000 Active 112 DOM
10. 2026-06-05
    days on market $16,000 Active 109 DOM
11. 2026-06-03
    days on market $16,000 Active 108 DOM
12. 2026-06-02
    days on market $16,000 Active 107 DOM
13. 2026-06-01
    days on market $16,000 Active 106 DOM
14. 2026-05-31
    days on market $16,000 Active 105 DOM
15. 2026-02-16
    listed $16,000 Active 427-char remark

    Show marketing remark (427 chars)

    Investor special! This complete fixer-upper is being sold as-is, where-is, in its current condition — no inspections or repairs by seller. Excellent opportunity for rehabbers, cash buyers, or seasoned investors looking to add value in a growing area. With strong rental demand and ongoing revitalization nearby, this property offers serious upside for those ready to roll up their sleeves and bring new life to the block.

16. 2009-05-08
    soldstatus
17. 2008-12-05
    soldstatus
18. 1994-12-12
    soldstatus

ⓘ 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: $297 · $25/mo
• Projected year-2 tax: $297 · $25/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,134
• − Mortgage interest: −$896
• − Property taxes: −$297
• − Insurance: −$80
• − Repairs & maintenance: −$971
• − Management: −$971
• − Depreciation: −$465
• Taxable income: $8,454
• Est. tax owed @ 24.0%: −$2,029
• After-tax cash flow: $6,173/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): 8,173
• Household income: $41,182
• Rent vs Own: 42.0% rent · 58.0% own
• Severe rent burden: 418.0

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: Predominantly Black (92%)
• Race & ethnicity: Black 92% White 5% Two or more races 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 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: ▼ -38.51%
• Current HPI: 84.224
• Rent YoY: —
• 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

4 events — show timeline

• 2026-02-16 Listed $16,000 MARIS as Distributed by MLS Grid
• 2009-05-08 Sold (Public Records) — Public Records
• 2008-12-05 Sold (Public Records) — Public Records
• 1994-12-12 Sold (Public Records) — Public Records

Property tax history

+1.1%/yr

Latest (2024): $297 · +4.7% YoY. Source: county tax records.