6128 Washington Ave

Berkeley, MO 63134

$104,900C

3 bd · 1.0 ba · 936 sqft · Built 1990 · SingleFamily · Active · 53 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,304/mo
• Mortgage (P&I): −$550
• Tax + insurance: −$131
• HOA: −$0
• Vac / Maint / Mgmt: −$274
• Net cashflow: $349/mo
• Annual: $4,185/yr
• Cap rate: 10.28%
• Cash-on-cash: 14.25%
• DSCR: 1.63
• 1% rule: 1.24%
• Cash to close: $29,372

Investor read

• This is a 3-bed/1.0-bath single-family listed at $105k.
• At list price, monthly cash flow is $349 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• It's been on market 53 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 54/100 on livability (#774 in MO) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: health & safety C-, schools F, crime F.
• Ferguson-Florissant R-II (suburban): math 7% / reading 20% proficiency, ranked #311 of 324 in MO (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.6%/yr); 70 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 920 units permitted in St. Louis County in 2024 (250 in 5+ unit buildings).
• 2 sale attempts since 5y 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 $76k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $29k cash investment doubles in ~10 years — after that, you're playing with house money.
• This rent runs 35% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.