1841 S 9th St · St. Louis, MO 63104

$475,000

15 bd · 3.0 ba · 2,216 sqft · MultiFamily public records · 37 Days on market

Built 1880 3,123 sqft lot $214/sqft · 24% above area Est $384k · 24% over

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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 +26.8/30.0
• DSCR +9.2/10.0
• 1% rule +6.5/10.0
• 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: 3 units. confirmed

Listing remarks

Exceptional investment opportunity in the heart of historic Soulard! This cash-flowing Triplex is perfectly positioned just 1 block from the iconic Soulard Market, placing tenants steps away from restaurants, nightlife, breweries and everything this highly sought-after neighborhood has to offer. A true renter’s dream location with strong demand year-round! The property has been extensively updated both inside and out, making it a turnkey addition to any investment portfolio. Interior improvements include updated flooring, fresh paint, renovated kitchens, and modernized living spaces throughout the units. Major exterior and mechanical updates include newer HVAC systems and roof, giving

Key facts

• Extensively updated
• Renovated kitchens
• Fresh paint

Tags

• HISTORIC SOULARD
• CASH-FLOWING TRIPLEX
• EXTENSIVELY UPDATED
• UPDATED FLOORING
• FRESH PAINT
• RENOVATED KITCHENS

Property features AI

Finance

• Other: Approximately 2,216 above-grade finished living area (public records); Lot size about 0.0717 acres; Located in the Soulard neighborhood (1841 S 9th St, Saint Louis, MO)

Exterior

• Parking: Additional parking and parking pad
• Home design: Residential income property (2–4 units)
• Construction: Brick construction
• Exterior features: Back yard with wood fencing; Additional parking and parking pad

Interior

• Bedrooms: Three units: two 2-bedroom units and one 1-bedroom unit
• Bathrooms: Three 1-bath units
• Heating & cooling: Central Air
• Interior features: Central air conditioning

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $475k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $434/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $475k).
• Recommended offer: $461k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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 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: Sigel Elem. Comm. Ed. Ctr. (math 2% / reading 2%, grade F, #1,099 of 1,115 statewide, top 100%, 219 students, 99% 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 $5,443/mo this rent would consume 95% 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 $14k 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 $133k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($461k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $195k; list at $475k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — 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 $460,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1880 — 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: 1.15% ✓
• Cap rate: 9.58%
• Cash-on-cash: 11.74%
• DSCR: 1.52
• GRM: 7.3

CMA / ARV

• ARV (median comp): $384,181
• List price: $475,000
• Delta: 23.64%
• 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: 5.8%
• Equity multiple: 1.24×
• Total profit: $31,677
• Equity at exit: $70,824

10-year hold

• IRR: 18.8%
• Equity multiple: 2.88×
• Total profit: $250,511
• Equity at exit: $41,069

Cash invested: $133,000 (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: 21.8×

Monthly cashflow live

• Estimated rent: $5,443 medium
• Mortgage (P&I): −$2,491
• Tax from tax record: −$310 /mo · $3,722/yr
• Insurance: −$198
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,143
• Net cashflow: $1,301

Break-even live

Break-even rent $3,796

Max offer price $475,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$5,442
Total (3 units)			$5,443

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $475,000 Active 37 DOM
2. 2026-06-17
   days on market $475,000 Active 36 DOM
3. 2026-06-16
   days on market $475,000 Active 35 DOM
4. 2026-06-15
   days on market $475,000 Active 34 DOM
5. 2026-06-13
   days on market $475,000 Active 32 DOM
6. 2026-06-09
   days on market $475,000 Active 28 DOM
7. 2026-06-08
   days on market $475,000 Active 27 DOM
8. 2026-06-07
   days on market $475,000 Active 26 DOM
9. 2026-06-05
   days on market $475,000 Active 23 DOM
10. 2026-06-03
    days on market $475,000 Active 22 DOM
11. 2026-06-02
    days on market $475,000 Active 21 DOM
12. 2026-06-01
    days on market $475,000 Active 20 DOM
13. 2026-05-31
    days on market $475,000 Active 19 DOM
14. 2026-05-12
    listed $475,000 Active 1425-char remark
15. 2010-04-02
    soldstatus $195,000

ⓘ 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: $3,722 · $310/mo
• Projected year-2 tax: $4,608 · $384/mo
• Expected delta: +$886/yr (+$74/mo · 23.8%)

ⓘ 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 6/10 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: $65,316
• − Mortgage interest: −$26,607
• − Property taxes: −$3,722
• − Insurance: −$2,375
• − Repairs & maintenance: −$5,225
• − Management: −$5,225
• − Depreciation: −$13,818
• Taxable income: $8,343
• Est. tax owed @ 24.0%: −$2,002
• After-tax cash flow: $13,609/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

+143.6% since first listed

2 events — show timeline

• 2026-05-12 Listed $475,000 MARIS as Distributed by MLS Grid
• 2010-04-02 Sold (Public Records) $195,000 Public Records

Property tax history

+5.1%/yr

Latest (2024): $3,722 · +4.8% YoY. Source: county tax records.