3500 Greer Ave · St. Louis, MO 63107

$45,000

5 bd · 2.0 ba · 3,170 sqft · MultiFamily public records · 8 Days on market

Built 1903 4,620 ac lot ↓ 36% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Calling all Investors. . This is the perfect opportunity to add 3500 Greer Ave to your portfolio. Property completely gutted 3100 plus square foot. Embrace the unique opportunity to bring your vision to life with this intriguing fixer-upper. Sold as is

Key facts

• 4620 acre lot
• Built 1903
• Listed 7 days

Property features AI

Finance

• Other: Above-grade finished area approximately 3,170 (source: public records)
• Financial info: Lease not considered

Exterior

• Utilities: Electric service: Ameren; Sewer: Unknown
• Home design: Single family residence; Residential property
• Construction: Brick construction
• Exterior features: Front yard; Back yard

Interior

• Bedrooms: 5 bedrooms total; 2 bedrooms on the main level; 3 bedrooms on the upper level
• Bathrooms: 2 full bathrooms total; 1 full bathroom on the main level; 1 full bathroom on the upper level
• Heating & cooling: No heating listed; Cooling: Other
• Interior features: Basement with poured concrete and 8+ ft ceilings; Three or more levels

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $45k.

Deal economics

• At list price, monthly cash flow is $953 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Cap rate 31.7% 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 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: Columbia Elem. Comm. Ed. Ctr. (math 2% / reading 12%, grade F, #1,058 of 1,115 statewide, top 96%, 221 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 $311 of loan paydown is wiped out by about $788 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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: built in 1903 — 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 $45,000

Questions for the listing agent

1. Built in 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 3.50% ✓
• Cap rate: 31.70%
• Cash-on-cash: 90.73%
• DSCR: 5.04
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $91,930
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3840 Saint Louis Ave	0.41mi	5/3.0	2,880 (-9%)	11mo	$55,000	$19	52
3800 Greer Ave #2	0.30mi	5/2.0	2,726 (-14%)	14mo	$79,900	$29	51
3843 Saint Ferdinand Ave	0.57mi	6/2.0 (+1)	2,788 (-12%)	1mo	$325,000	$117	48

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

Projected returns pro-forma

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

5-year hold

• IRR: 92.1%
• Equity multiple: 5.43×
• Total profit: $55,797
• Equity at exit: $9,261

10-year hold

• IRR: 94.4%
• Equity multiple: 11.23×
• Total profit: $128,937
• Equity at exit: $8,416

Cash invested: $12,600 (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: 2.4×

Monthly cashflow live

• Estimated rent: $1,577 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$38 /mo · $457/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $953

Break-even live

Break-even rent $371

Max offer price $45,000

Occupancy floor 35%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $45,000 Active 8 DOM
2. 2026-06-17
   days on market $45,000 Active 7 DOM
3. 2026-06-16
   days on market $45,000 Active 6 DOM
4. 2026-06-15
   days on market $45,000 Active 5 DOM
5. 2026-06-13
   remarks 252-char remark
6. 2026-06-13
   listed $45,000 Active 3 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: $457 · $38/mo
• Projected year-2 tax: $457 · $38/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: $18,919
• − Mortgage interest: −$2,521
• − Property taxes: −$457
• − Insurance: −$225
• − Repairs & maintenance: −$1,514
• − Management: −$1,514
• − Depreciation: −$1,309
• Taxable income: $11,380
• Est. tax owed @ 24.0%: −$2,731
• After-tax cash flow: $8,701/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

-35.7% since first listed

8 events — show timeline

• 2026-06-11 Listed $45,000 MARIS as Distributed by MLS Grid
• 2026-06-11 Coming Soon $45,000 MARIS as Distributed by MLS Grid
• 2026-03-24 Price Changed $45,000 MARIS as Distributed by MLS Grid
• 2025-12-16 Price Changed $50,000 MARIS as Distributed by MLS Grid
• 2025-11-04 Price Changed $60,000 MARIS as Distributed by MLS Grid
• 2025-10-31 Listed $70,000 MARIS as Distributed by MLS Grid
• 2025-10-21 Coming Soon — MARIS as Distributed by MLS Grid
• 2017-07-18 Sold (Public Records) — Public Records

Property tax history

+4.4%/yr

Latest (2024): $457 · +4.8% YoY. Source: county tax records.