33 S Schlueter Ave

Dellwood, MO 63135

$84,900B+

4 bd · 1.0 ba · 1,410 sqft · Built 1941 · SingleFamily · Pending · 110 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,506/mo
• Mortgage (P&I): −$445
• Tax + insurance: −$201
• HOA: −$0
• Vac / Maint / Mgmt: −$316
• Net cashflow: $543/mo
• Annual: $6,520/yr
• Cap rate: 13.97%
• Cash-on-cash: 27.43%
• DSCR: 2.22
• 1% rule: 1.77%
• Cash to close: $23,772

Investor read

• This is a 4-bed/1.0-bath single-family listed at $85k.
• At list price, monthly cash flow is $543 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• It's been on market 110 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $77k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $587 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#239 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D-, amenities 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.
• Zoned schools: Griffith Elementary (math 3% / reading 9%, grade F, #1,069 of 1,115 statewide, top 96%, 282 students, 99% FRL); Mccluer High (math 0% / reading 17%, grade F, #511 of 521 statewide, top 98%, 1,181 students, 100% FRL) — zoned schools average 99% FRL vs 70% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+9.0%/yr); 162 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 920 units permitted in St. Louis County in 2024 (250 in 5+ unit buildings).
• 6 sale attempts since 6y ago; this cycle's ask has dropped $30k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $53k; list at $85k implies a 60% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 14.0% vs local median 10.4% in Dellwood — 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.
• This rent runs 35% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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 D 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.