3927 N 21st St · St. Louis, MO 63107

$55,900

20 bd · 6.0 ba · 5,346 sqft · MultiFamily public records · 6 Days on market

Built 1894 4,560 sqft lot

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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
• Appreciation +4.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Multi-family units

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

Listing remarks MLS

Due to condition, signed Hold Harmless is required for entry. 4 unit building, massive three story with exterior entrances. Features main floor single level units and town homes above. One Bed/One Bath, Two Bed/One Bath, Four Bed/Two Bath, 4 Bed/Two Bath. Some assembly required. Financed offers must include: POF & Lender Pre-Qual Letter. Cash offers must include POF. Corporate offers must include Operating Agreement reflecting authorized signer. Buyer to verify Sq Ft. of lot and structure. This property is being sold as-is, property is lender-owned and US Bank is making no representations or warranties Offers will be reviewed following 8 days on the market 02/26/2024.

Key facts

• 4,560 sq ft lot
• Built 1894
• Listed 5 days

Property features AI

Finance

• Other: Four-unit building (multifamily income); Above-grade finished area reported as 5,346 (public records)
• Financial info: Second mortgage: none indicated
• HOA & community: Street lights in the neighborhood

Exterior

• Parking: On-street parking
• Utilities: Public water; Electric service by Ameren
• Home design: Residential income property (2–4 units)
• Construction: Brick construction; Stone foundation
• Exterior features: Deck; Front porch; Chain link fencing; Back yard; Front yard; Rectangular lot

Interior

• Kitchen: No appliances listed
• Bedrooms: Multiple units: four total units — two 1-bedroom units and two 3-bedroom units
• Flooring: Carpet; Linoleum
• Bathrooms: Units include one-bathroom and two-bathroom layouts (1‑bath for 1‑bedroom units; 2‑baths for 3‑bedroom units)
• Heating & cooling: Forced air heating (natural gas); Cooling: Other
• Interior features: Eat-in kitchen; Insulated windows
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 4 × 5-bed/4.0-bath units multifamily listed at $56k.

Deal economics

• At list price, monthly cash flow is $4k ($52k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $56k).
• Cap rate 99.5% 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.
• Zoned schools: Lexington Elem. (math 2% / reading 2%, grade F, #1,099 of 1,115 statewide, top 100%, 274 students, 99% 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 (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 58 active listings in the ZIP; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $386 of loan paydown is wiped out by about $979 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 (-1.8% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1894 — 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 $55,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1894 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 10.88% ✓
• Cap rate: 99.49%
• Cash-on-cash: 332.86%
• DSCR: 15.81
• GRM: 0.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.75% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 18.29×
• Total profit: $270,575
• Equity at exit: $11,504

10-year hold

• IRR: —
• Equity multiple: 39.01×
• Total profit: $594,925
• Equity at exit: $10,455

Cash invested: $15,652 (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 63107

• Home prices YoY: -1.9%
• Active inventory: 58
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $6,082 medium
• Mortgage (P&I): −$293
• Tax from tax record: −$147 /mo · $1,762/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,277
• Net cashflow: $4,342

Break-even live

Break-even rent $586

Max offer price $55,900

Occupancy floor 24%

Sensitivity live

Price	-10% $4,373	-5% $4,357	+0% $4,342	+5% $4,326	+10% $4,310
Rent	-10% $3,861	-5% $4,101	+0% $4,342	+5% $4,582	+10% $4,822
Rate	-1.0pp $4,370	-0.5pp $4,356	base $4,342	+0.5pp $4,327	+1.0pp $4,312

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

Units	Beds	Baths	Est. rent
▸ 4× units	5	4	$6,080
Total (4 units)			$6,082

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: $13,975
• Closing costs: $1,677
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-21
   days on market $55,900 Active 6 DOM
2. 2026-06-18
   days on market $55,900 Active 3 DOM
3. 2026-06-17
   days on market $55,900 Active 2 DOM
4. 2026-06-16
   remarks 207-char remark
5. 2026-06-16
   listed $55,900 Active 1 DOM

ⓘ 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: $1,762 · $147/mo
• Projected year-2 tax: $1,762 · $147/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 5/10 Major 7 d/yr ≥108°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: $72,984
• − Mortgage interest: −$3,131
• − Property taxes: −$1,762
• − Insurance: −$280
• − Repairs & maintenance: −$5,839
• − Management: −$5,839
• − Depreciation: −$1,626
• Taxable income: $54,508
• Est. tax owed @ 24.0%: −$13,082
• After-tax cash flow: $39,017/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): 9,082

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 8% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% 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: ▼ -1.75%
• Current HPI: 92.7423
• 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

-62.7% since first listed

20 events — show timeline

• 2026-06-15 Listed $55,900 MARIS as Distributed by MLS Grid
• 2024-03-18 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2024-03-01 Pending — MARIS as Distributed by MLS Grid
• 2024-02-17 Listed $29,900 MARIS as Distributed by MLS Grid
• 2022-07-20 Price Changed $115,000 MARIS as Distributed by MLS Grid
• 2022-06-06 Price Changed $129,000 MARIS as Distributed by MLS Grid
• 2017-07-14 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2017-06-01 Pending — MARIS as Distributed by MLS Grid
• 2017-05-05 Listed $124,900 MARIS as Distributed by MLS Grid
• 2016-12-22 Price Changed $124,900 MARIS as Distributed by MLS Grid
• 2016-12-22 Price Changed $110,000 MARIS as Distributed by MLS Grid
• 2016-11-23 Price Changed $144,900 MARIS as Distributed by MLS Grid
• 2016-09-08 Price Changed $154,900 MARIS as Distributed by MLS Grid
• 2016-05-18 Price Changed $165,000 MARIS as Distributed by MLS Grid
• 2016-03-22 Price Changed $175,000 MARIS as Distributed by MLS Grid
• 2016-02-17 Price Changed $185,000 MARIS as Distributed by MLS Grid
• 2004-08-30 Sold (Public Records) $150,000 Public Records
• 2003-10-21 Sold (Public Records) — Public Records
• 1999-03-24 Sold (Public Records) — Public Records
• 1997-07-25 Sold (Public Records) — Public Records

Property tax history

+16.6%/yr

Latest (2024): $1,762 · +5.1% YoY. Source: county tax records.