1947 Spencer Ave · Overland, MO 63114

$55,000

1 bd · 1.0 ba · 480 sqft · SingleFamily public records · 82 Days on market

Built 1956 7,801 sqft lot $115/sqft · 46% below area Est $102k · 46% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.1/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fantastic first-time homebuyer opportunity in the heart of Overland! This "tiny home" features 1-bedroom, 1-bathroom and sits on an impressive, oversized level lot—perfect for gardening, pets, or future expansion. The low-maintenance stucco exterior and durable chain-link fencing offer peace of mind. Inside, you’ll find an efficient 4-room layout that maximizes every square inch. Why rent when you can own this cozy retreat? Located in the Ritenour School District with quick access to local parks and highways. Schedule your showing today!

Key facts

• Oversized level lot
• 7,801 sq ft lot
• Parking

Tags

• OVERSIZED LEVEL LOT
• DURABLE CHAIN-LINK FENCING
• EFFICIENT 4-ROOM LAYOUT
• QUICK ACCESS TO LOCAL PARKS
• RITENOUR SCHOOL DISTRICT

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $375 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($954 rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.5% vs local median 6.2% in Overland — 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 61/100 on livability (#436 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Ritenour (suburban): math 13% / reading 27% proficiency, ranked #304 of 324 in MO (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.0%/yr); 118 active listings in the ZIP; 920 units permitted in St. Louis County in 2024 (250 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.0% rent growth), your $15k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $15k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $55k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — 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 $51,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.73% ✓
• Cap rate: 14.48%
• Cash-on-cash: 29.23%
• DSCR: 2.30
• GRM: 4.8

CMA / ARV

• ARV (median comp): $101,514
• List price: $55,000
• Delta: -45.82%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.04% rent growth · sell at horizon

5-year hold

• IRR: 22.6%
• Equity multiple: 1.91×
• Total profit: $14,080
• Equity at exit: $8,201

10-year hold

• IRR: 29.9%
• Equity multiple: 3.56×
• Total profit: $39,406
• Equity at exit: $4,755

Cash invested: $15,400 (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 63114

• Rents YoY: 2.0%
• Active inventory: 118
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $954 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$67 /mo · $806/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $375

Break-even live

Break-even rent $479

Max offer price $55,000

Occupancy floor 56%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-17
   status $55,000 Pending 82 DOM
2. 2026-06-16
   days on market $55,000 Active 82 DOM
3. 2026-06-15
   days on market $55,000 Active 81 DOM
4. 2026-06-13
   pricedays on market $55,000 Active 79 DOM
5. 2026-06-09
   days on market $59,900 Active 75 DOM
6. 2026-06-08
   days on market $59,900 Active 74 DOM
7. 2026-06-07
   days on market $59,900 Active 73 DOM
8. 2026-06-03
   days on market $59,900 Active 69 DOM
9. 2026-06-02
   days on market $59,900 Active 68 DOM
10. 2026-06-01
    days on market $59,900 Active 67 DOM
11. 2026-05-31
    days on market $59,900 Active 66 DOM
12. 2026-05-18
    price $59,900 565-char remark

    Show marketing remark (565 chars)

    Fantastic first-time homebuyer opportunity in the heart of Overland! This "tiny home" features 1-bedroom, 1-bathroom and sits on an impressive, oversized level lot—perfect for gardening, pets, or future expansion. The low-maintenance stucco exterior and durable chain-link fencing offer peace of mind. Inside, you’ll find an efficient 4-room layout that maximizes every square inch. Why rent when you can own this cozy retreat? Located in the Ritenour School District with quick access to local parks and highways. Schedule your showing today!

13. 2026-05-07
    status Active 565-char remark

    Show marketing remark (565 chars)

    Fantastic first-time homebuyer opportunity in the heart of Overland! This "tiny home" features 1-bedroom, 1-bathroom and sits on an impressive, oversized level lot—perfect for gardening, pets, or future expansion. The low-maintenance stucco exterior and durable chain-link fencing offer peace of mind. Inside, you’ll find an efficient 4-room layout that maximizes every square inch. Why rent when you can own this cozy retreat? Located in the Ritenour School District with quick access to local parks and highways. Schedule your showing today!

14. 2026-05-07
    price $69,900 565-char remark

    Show marketing remark (565 chars)

    Fantastic first-time homebuyer opportunity in the heart of Overland! This "tiny home" features 1-bedroom, 1-bathroom and sits on an impressive, oversized level lot—perfect for gardening, pets, or future expansion. The low-maintenance stucco exterior and durable chain-link fencing offer peace of mind. Inside, you’ll find an efficient 4-room layout that maximizes every square inch. Why rent when you can own this cozy retreat? Located in the Ritenour School District with quick access to local parks and highways. Schedule your showing today!

15. 2026-04-21
    status Pending 565-char remark

    Show marketing remark (565 chars)

    Fantastic first-time homebuyer opportunity in the heart of Overland! This "tiny home" features 1-bedroom, 1-bathroom and sits on an impressive, oversized level lot—perfect for gardening, pets, or future expansion. The low-maintenance stucco exterior and durable chain-link fencing offer peace of mind. Inside, you’ll find an efficient 4-room layout that maximizes every square inch. Why rent when you can own this cozy retreat? Located in the Ritenour School District with quick access to local parks and highways. Schedule your showing today!

16. 2026-04-14
    price $59,900 565-char remark

    Show marketing remark (565 chars)

    Fantastic first-time homebuyer opportunity in the heart of Overland! This "tiny home" features 1-bedroom, 1-bathroom and sits on an impressive, oversized level lot—perfect for gardening, pets, or future expansion. The low-maintenance stucco exterior and durable chain-link fencing offer peace of mind. Inside, you’ll find an efficient 4-room layout that maximizes every square inch. Why rent when you can own this cozy retreat? Located in the Ritenour School District with quick access to local parks and highways. Schedule your showing today!

17. 2026-03-31
    price $64,900 565-char remark

    Show marketing remark (565 chars)

    Fantastic first-time homebuyer opportunity in the heart of Overland! This "tiny home" features 1-bedroom, 1-bathroom and sits on an impressive, oversized level lot—perfect for gardening, pets, or future expansion. The low-maintenance stucco exterior and durable chain-link fencing offer peace of mind. Inside, you’ll find an efficient 4-room layout that maximizes every square inch. Why rent when you can own this cozy retreat? Located in the Ritenour School District with quick access to local parks and highways. Schedule your showing today!

18. 2026-03-10
    listed $69,900 Active 565-char remark

    Show marketing remark (565 chars)

    Fantastic first-time homebuyer opportunity in the heart of Overland! This "tiny home" features 1-bedroom, 1-bathroom and sits on an impressive, oversized level lot—perfect for gardening, pets, or future expansion. The low-maintenance stucco exterior and durable chain-link fencing offer peace of mind. Inside, you’ll find an efficient 4-room layout that maximizes every square inch. Why rent when you can own this cozy retreat? Located in the Ritenour School District with quick access to local parks and highways. Schedule your showing today!

19. 2026-03-10
    historical $69,900 565-char remark

    Show marketing remark (565 chars)

    Fantastic first-time homebuyer opportunity in the heart of Overland! This "tiny home" features 1-bedroom, 1-bathroom and sits on an impressive, oversized level lot—perfect for gardening, pets, or future expansion. The low-maintenance stucco exterior and durable chain-link fencing offer peace of mind. Inside, you’ll find an efficient 4-room layout that maximizes every square inch. Why rent when you can own this cozy retreat? Located in the Ritenour School District with quick access to local parks and highways. Schedule your showing today!

20. 2026-01-18
    status Pending
21. 2026-01-17
    listed $55,000 Active
22. 2020-09-21
    soldstatus $30,000

ⓘ 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: $806 · $67/mo
• Projected year-2 tax: $806 · $67/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 ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,447
• − Mortgage interest: −$3,081
• − Property taxes: −$806
• − Insurance: −$275
• − Repairs & maintenance: −$916
• − Management: −$916
• − Depreciation: −$1,600
• Taxable income: $3,854
• Est. tax owed @ 24.0%: −$925
• After-tax cash flow: $3,577/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: Ritenour
• NCES district ID: 2926640
• Math proficiency: 13% ▼ -14.00%
• Reading proficiency: 27% ▼ -7.00%
• Median HH income: $41,410
• Composite: 17.04/100
• National rank: #9125
• State rank: #304 of 324 in MO

Livability — Overland

• Score: 61/100
• State rank: #436
• US rank: #17870

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D- Housing A+ Health & safety C- User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Overland, MO
• County: Saint Louis County · 888,823 people
• City population: 33,969
• Metro: St. Louis, MO-IL
• Population (ZIP): 33,969
• Household income: $55,870
• Rent vs Own: 41.8% rent · 58.2% own
• Severe rent burden: 1595.0

Population outlook (St. Louis County) Hauer SSP2

• Today (2025): 1,025,227 people
• By 2030: 1,028,023 · +0.3%
• By 2040: 1,020,940 · -0.4%
• By 2050: 1,007,280 · -1.8%
• By 2075: 987,277 · -3.7%
• By 2100: 921,984 · -10.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 50% Black 30% Hispanic / Latino 11% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 3% Italian 2% Romanian 1%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 10% French/Haitian/Cajun 2% Tagalog/Filipino 1%

Political lean MEDSL · St. Louis

• 2024 margin: Strong D (+23.4) · D 60.8% · R 37.4% · Other 1.7%
• 2008→2024 swing: +3.5pp toward D · 2008: 19.9pp · 2024: 23.4pp
• All cycles: 2024: D+23.4 2020: D+24.0 2016: D+16.2 2012: D+13.7 2008: D+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -276.62%
• Current HPI: 223.9305
• Rent YoY: ▲ 2.04%
• 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

+99.7% since first listed

11 events — show timeline

• 2026-05-18 Price Changed $59,900 MARIS as Distributed by MLS Grid
• 2026-05-07 Relisted — MARIS as Distributed by MLS Grid
• 2026-05-07 Price Changed $69,900 MARIS as Distributed by MLS Grid
• 2026-04-21 Pending — MARIS as Distributed by MLS Grid
• 2026-04-14 Price Changed $59,900 MARIS as Distributed by MLS Grid
• 2026-03-31 Price Changed $64,900 MARIS as Distributed by MLS Grid
• 2026-03-10 Listed $69,900 MARIS as Distributed by MLS Grid
• 2026-03-10 Coming Soon $69,900 MARIS as Distributed by MLS Grid
• 2026-01-18 Pending — MARIS as Distributed by MLS Grid
• 2026-01-17 Listed $55,000 MARIS as Distributed by MLS Grid
• 2020-09-21 Sold (Public Records) $30,000 Public Records

Property tax history

+5.0%/yr

Latest (2022): $806 · +0.0% YoY. Source: county tax records.