3423 Keokuk · St. Louis, MO 63118

$199,000

4 bd · 2.0 ba · 2,868 sqft · MultiFamily public records · 307 Days on market

Built 1895 4,791 sqft lot $69/sqft · 18% above area Est $168k · 18% over

---

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 +27.8/30.0
• DSCR +9.8/10.0
• 1% rule +6.5/10.0
• Rent growth +3.7/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Great 2-Family available in South City with major potential for a serious investor. Property to be sold in as in condition. Seller to make no repairs or provide any inspections. Earnest Money and proof of funds to be submitted with all offers. Buyer must close with sellers Title Co.

Key facts

• 4,791 sq ft lot
• 2 garage spots
• Built 1895

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $604 ($7k/yr) — positive. Per door: $302/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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.
• Market conditions: Rents rising fast (+4.9%/yr); 240 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• At $2,292/mo this rent would consume 48% of the median local household income ($58k/yr) (locally 1495% 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 $1k of loan paydown is wiped out by about $6k 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 + 4.9% rent growth), your $56k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 307 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y 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.
• Current owner paid $65k; list at $199k implies a 206% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — 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 $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 307 days. Have you received any prior offers? Is the seller open to a 12% 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 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.15% ✓
• Cap rate: 9.94%
• Cash-on-cash: 13.01%
• DSCR: 1.58
• GRM: 7.2

CMA / ARV

• ARV (median comp): $168,156
• List price: $199,000
• Delta: 18.34%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3417 Keokuk St	0.01mi	4/2.0	2,678 (-7%)	9mo	$75,000	$28	81
3829 Minnesota Ave	0.29mi	4/2.0	2,798 (-2%)	2mo	$65,000	$23	81
3614 Alberta St	0.23mi	4/2.0	2,560 (-11%)	9mo	$145,000	$57	64
3106 Chippewa St	0.30mi	4/2.0	2,490 (-13%)	2mo	$109,900	$44	62
3416 Utah St	0.72mi	4/2.0	2,700 (-6%)	1mo	$150,000	$56	56
3550 Giles Ave	0.49mi	5/2.0 (+1)	2,652 (-8%)	8mo	$249,900	$94	53
3618 Pennsylvania Ave	0.49mi	4/2.0	2,522 (-12%)	6mo	$160,000	$63	52
3919-3921 Dunnica Ave	0.61mi	4/2.0	2,554 (-11%)	3mo	$175,000	$69	51
3776 Keokuk St	0.44mi	4/2.0	2,450 (-15%)	6mo	$180,000	$73	50
3733 Oregon Ave	0.50mi	4/4.0	2,480 (-14%)	4mo	$220,000	$89	43
3721 Iowa Ave	0.63mi	4/2.0	2,500 (-13%)	8mo	$130,000	$52	42
3461 South Spring Ave	0.66mi	4/4.0	3,136 (+9%)	9mo	$314,900	$100	38

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 · 4.89% rent growth · sell at horizon

5-year hold

• IRR: 4.8%
• Equity multiple: 1.19×
• Total profit: $10,612
• Equity at exit: $29,672

10-year hold

• IRR: 15.8%
• Equity multiple: 2.39×
• Total profit: $77,458
• Equity at exit: $17,206

Cash invested: $55,720 (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 63118

• Rents YoY: 4.9%
• Active inventory: 240
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $2,292 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$80 /mo · $959/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $604

Break-even live

Break-even rent $1,527

Max offer price $199,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,292
Total (2 units)			$2,292

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4135 S Compton Ave Saint Louis, MO	3.0	2.0	2104	$1,600	$0.76	43d	1	0.35mi
3526 S Spring Ave Saint Louis, MO	4.0	2.0	2244	$2,877	$1.28	43d	1	0.59mi
3458 Giles Ave Saint Louis, MO	3.0	2.5	2204	$2,400	$1.09	7d	1	0.63mi
3807 Potomac St Saint Louis, MO	3.0	1.0	2588	$1,100	$0.43	43d	1	0.71mi
3807 Potomac St Saint Louis, MO	3.0	1.0	2588	$1,300	$0.50	7d	1	0.71mi
4312 Oregon Ave Saint Louis, MO	4.0	2.0	2032	$2,000	$0.98	1d	1	0.72mi
3429 Ohio Ave Saint Louis, MO	3.0	3.0	1938	$2,250	$1.16	16d	1	0.88mi
3908 McDonald Ave Saint Louis, MO	3.0	2.0	1927	$2,500	$1.30	4d	1	0.89mi
2643 Wyoming St Saint Louis, MO	3.0	2.5	2592	$2,600	$1.00	43d	1	1.14mi
4145-4147 Hartford St St. Louis, MO	4.0	3.5	2400	$3,800	$1.58	12d	1	1.45mi

Listing history 23 events

1. 2026-06-18
   days on market $199,000 Active 307 DOM
2. 2026-06-17
   days on market $199,000 Active 306 DOM
3. 2026-06-16
   days on market $199,000 Active 305 DOM
4. 2026-06-15
   days on market $199,000 Active 304 DOM
5. 2026-06-13
   days on market $199,000 Active 302 DOM
6. 2026-06-09
   days on market $199,000 Active 298 DOM
7. 2026-06-08
   days on market $199,000 Active 297 DOM
8. 2026-06-08
   days on market $199,000 Active 296 DOM
9. 2026-06-05
   days on market $199,000 Active 293 DOM
10. 2026-06-03
    days on market $199,000 Active 292 DOM
11. 2026-06-02
    days on market $199,000 Active 291 DOM
12. 2026-06-01
    days on market $199,000 Active 290 DOM
13. 2026-06-01
    days on market $199,000 Active 289 DOM
14. 2025-11-03
    price $199,000 283-char remark

    Show marketing remark (283 chars)

    Great 2-Family available in South City with major potential for a serious investor. Property to be sold in as in condition. Seller to make no repairs or provide any inspections. Earnest Money and proof of funds to be submitted with all offers. Buyer must close with sellers Title Co.

15. 2025-08-15
    listed $209,000 Active 283-char remark

    Show marketing remark (283 chars)

    Great 2-Family available in South City with major potential for a serious investor. Property to be sold in as in condition. Seller to make no repairs or provide any inspections. Earnest Money and proof of funds to be submitted with all offers. Buyer must close with sellers Title Co.

16. 2021-11-10
    soldstatus $65,000
17. 2012-07-19
    soldstatus
18. 2012-07-13
    soldstatus 462-char remark

    Show marketing remark (462 chars)

    Short Sale Approved!!!BOTTOM LINE PRICING!!!BRING US AN OFFER!!!THIS ONE IS RUNNING OUT OF TIME!!!GREAT BUILDING FOR A GREAT PRICE!!!Recently rehabbed 2 family in South St. Louis. Both apts have 2 bedrms, eat-in kitchens, ceramic flrs in kitchen and bath, beautiful hardwood flrs, newer electric hot water heaters, and newer windows. 1st flr unit has newer furnace and a/c. Property is being offered as a short sale with approval needed by lender. Offered as is.

19. 2010-12-15
    listed $45,000 462-char remark

    Show marketing remark (462 chars)

    Short Sale Approved!!!BOTTOM LINE PRICING!!!BRING US AN OFFER!!!THIS ONE IS RUNNING OUT OF TIME!!!GREAT BUILDING FOR A GREAT PRICE!!!Recently rehabbed 2 family in South St. Louis. Both apts have 2 bedrms, eat-in kitchens, ceramic flrs in kitchen and bath, beautiful hardwood flrs, newer electric hot water heaters, and newer windows. 1st flr unit has newer furnace and a/c. Property is being offered as a short sale with approval needed by lender. Offered as is.

20. 2008-12-23
    soldstatus $155,000
21. 2006-09-05
    soldstatus $158,000
22. 1992-10-29
    soldstatus
23. 1989-02-01
    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: $959 · $80/mo
• Projected year-2 tax: $1,930 · $161/mo
• Expected delta: +$971/yr (+$81/mo · 101.3%)

ⓘ 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,504
• − Mortgage interest: −$11,147
• − Property taxes: −$959
• − Insurance: −$995
• − Repairs & maintenance: −$2,200
• − Management: −$2,200
• − Depreciation: −$5,789
• Taxable income: $4,213
• Est. tax owed @ 24.0%: −$1,011
• After-tax cash flow: $6,240/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): 25,913
• Household income: $57,762
• Rent vs Own: 56.1% rent · 43.9% own
• Severe rent burden: 1495.0

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 0.63)
• Race & ethnicity: White 44% Black 41% Two or more races 8% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 2%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 5% Vietnamese 1% French/Haitian/Cajun 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: ▼ -347.51%
• Current HPI: 171.5963
• Rent YoY: ▲ 4.89%
• 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

+25.9% since first listed

10 events — show timeline

• 2025-11-03 Price Changed $199,000 MARIS as Distributed by MLS Grid
• 2025-08-15 Listed $209,000 MARIS as Distributed by MLS Grid
• 2021-11-10 Sold (Public Records) $65,000 Public Records
• 2012-07-19 Sold (Public Records) — Public Records
• 2012-07-13 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2010-12-15 Listed $45,000 MARIS as Distributed by MLS Grid
• 2008-12-23 Sold (Public Records) $155,000 Public Records
• 2006-09-05 Sold (Public Records) $158,000 Public Records
• 1992-10-29 Sold (Public Records) — Public Records
• 1989-02-01 Sold (Public Records) — Public Records

Property tax history

+6.0%/yr

Latest (2024): $959 · +5.0% YoY. Source: county tax records.