2312 Bellevue Ave

Maplewood, MO 63143

$330,000C-

4 bd · 2.0 ba · 2,035 sqft · Built 1920 · SingleFamily · Pending · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,792/mo
• Mortgage (P&I): −$1,731
• Tax + insurance: −$451
• HOA: −$0
• Vac / Maint / Mgmt: −$586
• Net cashflow: $24/mo
• Annual: $289/yr
• Cap rate: 6.38%
• Cash-on-cash: 0.31%
• DSCR: 1.01
• 1% rule: 0.85%
• Cash to close: $92,400

Investor read

• This is a 4-bed/2.0-bath single-family listed at $330k.
• At list price, monthly cash flow is $24 ($289/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $279k (15.4% below list).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $279k (15.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#5 in MO, #673 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Maplewood-Richmond Heights (suburban): math 40% / reading 56% proficiency, ranked #63 of 324 in MO (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mrh Elementary (math 40% / reading 57%, grade D, #334 of 1,115 statewide, top 30%, 417 students, 26% FRL); Mrh Middle (math 30% / reading 51%, grade F, #180 of 391 statewide, top 47%, 220 students, 31% FRL); Maplewood-Richmond Hgts. High (math 62% / reading 67%, grade B-, #19 of 521 statewide, top 4%, 413 students, 32% FRL).
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.8%/yr); 44 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 920 units permitted in St. Louis County in 2024 (250 in 5+ unit buildings).
• 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.
• Cap rate 6.4% vs local median 3.8% in Maplewood — 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.
• At $2,792/mo this rent would consume 51% of the median local household income ($66k/yr) (locally 195% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.