1850 Russell Blvd · St. Louis, MO 63104

$650,000

8 bd · 4.0 ba · 5,508 sqft · MultiFamily public records · 116 Days on market

Built 1911 5,680 sqft lot $118/sqft · 6% above area Est $611k · 6% over

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Why this score? — see what drove the D 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 +19.0/30.0
• DSCR +6.0/10.0
• ARV discount +4.6/15.0
• Rent growth +4.4/5.0
• 1% rule +4.3/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

All brick four family FULLY RENOVATED in 2020 is a McKinley Heights gem. Two 3/2 units and Two 1/1 units. Each unit has an large living room with a fireplace and beautiful hardwood floors. The living room opens in to the eat in kitchen, perfect for dining and entertaining - new stainless steel appliances, updated cabinetry & countertops, dishwasher, and, in unit laundry. Updated bathrooms with subway tile, fresh gray vanities, and brand new hardware. All bedrooms are complete with ceiling fans and large windows for natural lighting. It is a short distance to restaurants, bars, parks, and entertainment! PVC stacks, pecs water lines, updated electric, newer furnaces and AC condensers, newer water heaters and decorative exposed brick.

Key facts

• Fully renovated
• Eat in kitchen
• Large living room

Tags

• FULLY RENOVATED
• LARGE LIVING ROOM
• FIREPLACE
• HARDWOOD FLOORS
• EAT IN KITCHEN
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.5-bath units multifamily listed at $650k.

Deal economics

• At list price, monthly cash flow is $683 ($8k/yr) — positive. Per door: $171/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $606k (6.7% below list).
• Recommended offer: $592k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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 D — 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: Nahed Chapman New American Aca (math 2% / reading 2%, grade F, #1,099 of 1,115 statewide, top 100%, 335 students, 99% FRL); Gateway Middle (math 0% / reading 8%, grade F, #389 of 391 statewide, top 100%, 506 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 (19 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 $6,062/mo this rent would consume 106% 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 $4k of loan paydown is wiped out by about $20k 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 $182k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($592k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $35k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1911 — 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 $591,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% 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 1911 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.93% ✗
• Cap rate: 7.55%
• Cash-on-cash: 4.50%
• DSCR: 1.20
• GRM: 8.9

CMA / ARV

• ARV (median comp): $610,800
• List price: $650,000
• Delta: 6.42%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2005 Russell Blvd	0.05mi	8/4.0	5,238 (-5%)	20mo	$650,000	$124	72

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 · 7.52% rent growth · sell at horizon

5-year hold

• IRR: -4.7%
• Equity multiple: 0.82×
• Total profit: $-33,174
• Equity at exit: $96,917

10-year hold

• IRR: 9.4%
• Equity multiple: 1.86×
• Total profit: $156,372
• Equity at exit: $56,200

Cash invested: $182,000 (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: 35.7×

Monthly cashflow live

• Estimated rent: $6,062 high
• Mortgage (P&I): −$3,409
• Tax from tax record: −$427 /mo · $5,122/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,273
• Net cashflow: $683

Break-even live

Break-even rent $5,198

Max offer price $650,000

Occupancy floor 84%

Sensitivity live

Price	-10% $1,051	-5% $867	+0% $683	+5% $499	+10% $315
Rent	-10% $204	-5% $443	+0% $683	+5% $922	+10% $1,161
Rate	-1.0pp $1,010	-0.5pp $848	base $683	+0.5pp $514	+1.0pp $343

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$6,064
Total (4 units)			$6,062

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $650,000 Active 116 DOM
2. 2026-06-18
   days on market $650,000 Active 113 DOM
3. 2026-06-17
   days on market $650,000 Active 112 DOM
4. 2026-06-16
   days on market $650,000 Active 111 DOM
5. 2026-06-15
   days on market $650,000 Active 110 DOM
6. 2026-06-13
   days on market $650,000 Active 108 DOM
7. 2026-06-09
   days on market $650,000 Active 104 DOM
8. 2026-06-08
   days on market $650,000 Active 103 DOM
9. 2026-06-08
   days on market $650,000 Active 102 DOM
10. 2026-06-05
    days on market $650,000 Active 99 DOM
11. 2026-06-03
    days on market $650,000 Active 98 DOM
12. 2026-06-02
    days on market $650,000 Active 97 DOM
13. 2026-06-01
    days on market $650,000 Active 96 DOM
14. 2026-05-31
    days on market $650,000 Active 95 DOM
15. 2026-04-28
    price $650,000 746-char remark

    Show marketing remark (746 chars)

    All brick four family FULLY RENOVATED in 2020 is a McKinley Heights gem. Two 3/2 units and Two 1/1 units. Each unit has an large living room with a fireplace and beautiful hardwood floors. The living room opens in to the eat in kitchen, perfect for dining and entertaining - new stainless steel appliances, updated cabinetry & countertops, dishwasher, and, in unit laundry. Updated bathrooms with subway tile, fresh gray vanities, and brand new hardware. All bedrooms are complete with ceiling fans and large windows for natural lighting. It is a short distance to restaurants, bars, parks, and entertainment! PVC stacks, pecs water lines, updated electric, newer furnaces and AC condensers, newer water heaters and decorative exposed brick.

16. 2026-03-12
    price $675,000 746-char remark

    Show marketing remark (746 chars)

    All brick four family FULLY RENOVATED in 2020 is a McKinley Heights gem. Two 3/2 units and Two 1/1 units. Each unit has an large living room with a fireplace and beautiful hardwood floors. The living room opens in to the eat in kitchen, perfect for dining and entertaining - new stainless steel appliances, updated cabinetry & countertops, dishwasher, and, in unit laundry. Updated bathrooms with subway tile, fresh gray vanities, and brand new hardware. All bedrooms are complete with ceiling fans and large windows for natural lighting. It is a short distance to restaurants, bars, parks, and entertainment! PVC stacks, pecs water lines, updated electric, newer furnaces and AC condensers, newer water heaters and decorative exposed brick.

17. 2026-02-25
    listed $685,000 Active 746-char remark

    Show marketing remark (746 chars)

    All brick four family FULLY RENOVATED in 2020 is a McKinley Heights gem. Two 3/2 units and Two 1/1 units. Each unit has an large living room with a fireplace and beautiful hardwood floors. The living room opens in to the eat in kitchen, perfect for dining and entertaining - new stainless steel appliances, updated cabinetry & countertops, dishwasher, and, in unit laundry. Updated bathrooms with subway tile, fresh gray vanities, and brand new hardware. All bedrooms are complete with ceiling fans and large windows for natural lighting. It is a short distance to restaurants, bars, parks, and entertainment! PVC stacks, pecs water lines, updated electric, newer furnaces and AC condensers, newer water heaters and decorative exposed brick.

18. 2022-03-23
    soldstatus $700,000
19. 2022-03-18
    soldstatus Closed 980-char remark

    Show marketing remark (980 chars)

    This MASSIVE 5508 sq ft brick four family FULLY RENOVATED in 2020 is a McKinley Heights gem. Two 3/2 units and Two 1/1 units rented at the top of the market - $1,795, $1,795, $950, and $895. Enter each unit to find an XL living room decked out with a charming fireplace and refinished hardwood floor. The living room opens beautifully to the eat in kitchen, perfect for dining and entertaining - new stainless steel appliances, updated cabinetry & countertops, DISHWASHERS, and OF COURSE, IN UNIT LAUNDRY. Down the hall, stun your tenants with brand spankin’ new bathrooms - subway tile, fresh gray vanities, and brand new hardware. All bedrooms are complete with ceiling fans and XL windows, perfect for all those newly acquired houseplants! And of course, tenants love the short distance to restaurants, bars, parks, and entertainment! PVC stacks, pex water lines, UPDATED electric, NEWER furnaces and AC condensers, NEWER water heaters, backyard and more! SOLD AS-IS.

20. 2022-02-17
    status Pending 980-char remark

    Show marketing remark (980 chars)

    This MASSIVE 5508 sq ft brick four family FULLY RENOVATED in 2020 is a McKinley Heights gem. Two 3/2 units and Two 1/1 units rented at the top of the market - $1,795, $1,795, $950, and $895. Enter each unit to find an XL living room decked out with a charming fireplace and refinished hardwood floor. The living room opens beautifully to the eat in kitchen, perfect for dining and entertaining - new stainless steel appliances, updated cabinetry & countertops, DISHWASHERS, and OF COURSE, IN UNIT LAUNDRY. Down the hall, stun your tenants with brand spankin’ new bathrooms - subway tile, fresh gray vanities, and brand new hardware. All bedrooms are complete with ceiling fans and XL windows, perfect for all those newly acquired houseplants! And of course, tenants love the short distance to restaurants, bars, parks, and entertainment! PVC stacks, pex water lines, UPDATED electric, NEWER furnaces and AC condensers, NEWER water heaters, backyard and more! SOLD AS-IS.

21. 2022-02-11
    listed $695,000 Active 980-char remark

    Show marketing remark (980 chars)

    This MASSIVE 5508 sq ft brick four family FULLY RENOVATED in 2020 is a McKinley Heights gem. Two 3/2 units and Two 1/1 units rented at the top of the market - $1,795, $1,795, $950, and $895. Enter each unit to find an XL living room decked out with a charming fireplace and refinished hardwood floor. The living room opens beautifully to the eat in kitchen, perfect for dining and entertaining - new stainless steel appliances, updated cabinetry & countertops, DISHWASHERS, and OF COURSE, IN UNIT LAUNDRY. Down the hall, stun your tenants with brand spankin’ new bathrooms - subway tile, fresh gray vanities, and brand new hardware. All bedrooms are complete with ceiling fans and XL windows, perfect for all those newly acquired houseplants! And of course, tenants love the short distance to restaurants, bars, parks, and entertainment! PVC stacks, pex water lines, UPDATED electric, NEWER furnaces and AC condensers, NEWER water heaters, backyard and more! SOLD AS-IS.

22. 2019-10-25
    soldstatus Closed
23. 2019-10-13
    status Pending
24. 2019-09-09
    historical Active Under Contract
25. 2019-09-05
    listed $325,000 Active
26. 1998-02-13
    soldstatus
27. 1998-02-09
    soldstatus
28. 1997-06-30
    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: $5,122 · $427/mo
• Projected year-2 tax: $6,305 · $525/mo
• Expected delta: +$1,183/yr (+$99/mo · 23.1%)

ⓘ 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 ≥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: $72,744
• − Mortgage interest: −$36,410
• − Property taxes: −$5,122
• − Insurance: −$3,250
• − Repairs & maintenance: −$5,820
• − Management: −$5,820
• − Depreciation: −$18,909
• Taxable loss: −$2,587
• Est. tax savings @ 24.0%: +$621
• After-tax cash flow: $8,812/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

+100.0% since first listed

14 events — show timeline

• 2026-04-28 Price Changed $650,000 MARIS as Distributed by MLS Grid
• 2026-03-12 Price Changed $675,000 MARIS as Distributed by MLS Grid
• 2026-02-25 Listed $685,000 MARIS as Distributed by MLS Grid
• 2022-03-23 Sold (Public Records) $700,000 Public Records
• 2022-03-18 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2022-02-17 Pending — MARIS as Distributed by MLS Grid
• 2022-02-11 Listed $695,000 MARIS as Distributed by MLS Grid
• 2019-10-25 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2019-10-13 Pending — MARIS as Distributed by MLS Grid
• 2019-09-09 Contingent — MARIS as Distributed by MLS Grid
• 2019-09-05 Listed $325,000 MARIS as Distributed by MLS Grid
• 1998-02-13 Sold (Public Records) — Public Records
• 1998-02-09 Sold (Public Records) — Public Records
• 1997-06-30 Sold (Public Records) — Public Records

Property tax history

+17.4%/yr

Latest (2024): $5,122 · +5.1% YoY. Source: county tax records.