204 Bellerive Blvd · St. Louis, MO 63111

$273,000

16 bd · 4.0 ba · 3,060 sqft · MultiFamily public records · 78 Days on market

Built 1914 3,484 sqft lot $89/sqft · 15% above area Est $238k · 15% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.9/15.0
• 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

Here's an opportunity to own a 4 plex with a 9% cap rate, 11.43% Proforma, and owner occupy opportunity as well! Positioned on a quiet street that dead ends to a park overlooking the Mississippi, convenient to Highway 55 and right in the heart of Carondelet. If that's not enough, its just had sewer lateral work completed, and a new roof in 2025. The building is fully occupied and so please do not disturb the tenants, showings can take place with an accepted contract. Seller is not interested in seller financing, sub to or trust based offers but welcomes your traditional lending or cash based offers.

Key facts

• 3,484 sq ft lot
• Built 1914
• Listed 78 days

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $273k.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive. Per door: $656/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $273k).
• Recommended offer: $257k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.8% 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 (+3.3%/yr); 125 active listings in the ZIP; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• At $5,357/mo this rent would consume 137% of the median local household income ($47k/yr) (locally 1364% 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 $2k of loan paydown is wiped out by about $8k 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 + 3.3% rent growth), your $76k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 $235k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1914 — 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 $256,620 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% 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 1914 — 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: 1.96% ✓
• Cap rate: 17.84%
• Cash-on-cash: 41.22%
• DSCR: 2.83
• GRM: 4.2

CMA / ARV

• ARV (median comp): $238,008
• List price: $273,000
• Delta: 14.70%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.27% rent growth · sell at horizon

5-year hold

• IRR: 38.0%
• Equity multiple: 2.63×
• Total profit: $124,378
• Equity at exit: $40,705

10-year hold

• IRR: 44.7%
• Equity multiple: 5.31×
• Total profit: $329,315
• Equity at exit: $23,604

Cash invested: $76,440 (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 63111

• Rents YoY: 3.3%
• Active inventory: 125
• Price-to-rent: 17.0×

Monthly cashflow live

• Estimated rent: $5,357 medium
• Mortgage (P&I): −$1,432
• Tax from tax record: −$61 /mo · $728/yr
• Insurance: −$114
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,125
• Net cashflow: $2,626

Break-even live

Break-even rent $2,033

Max offer price $273,000

Occupancy floor 46%

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$5,356
Total (4 units)			$5,357

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: $68,250
• Closing costs: $8,190
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-05-18
   historical Active Under Contract 612-char remark

   Show marketing remark (612 chars)

   Here's an opportunity to own a 4 plex with a 9% cap rate, 11.43% Proforma, and owner occupy opportunity as well! Positioned on a quiet street that dead ends to a park overlooking the Mississippi, convenient to Highway 55 and right in the heart of Carondelet. If that's not enough, its just had sewer lateral work completed, and a new roof in 2025. The building is fully occupied and so please do not disturb the tenants, showings can take place with an accepted contract. Seller is not interested in seller financing, sub to or trust based offers but welcomes your traditional lending or cash based offers.

2. 2026-04-16
   price $273,000 612-char remark

   Show marketing remark (612 chars)

   Here's an opportunity to own a 4 plex with a 9% cap rate, 11.43% Proforma, and owner occupy opportunity as well! Positioned on a quiet street that dead ends to a park overlooking the Mississippi, convenient to Highway 55 and right in the heart of Carondelet. If that's not enough, its just had sewer lateral work completed, and a new roof in 2025. The building is fully occupied and so please do not disturb the tenants, showings can take place with an accepted contract. Seller is not interested in seller financing, sub to or trust based offers but welcomes your traditional lending or cash based offers.

3. 2026-03-13
   listed $280,000 Active 612-char remark

   Show marketing remark (612 chars)

   Here's an opportunity to own a 4 plex with a 9% cap rate, 11.43% Proforma, and owner occupy opportunity as well! Positioned on a quiet street that dead ends to a park overlooking the Mississippi, convenient to Highway 55 and right in the heart of Carondelet. If that's not enough, its just had sewer lateral work completed, and a new roof in 2025. The building is fully occupied and so please do not disturb the tenants, showings can take place with an accepted contract. Seller is not interested in seller financing, sub to or trust based offers but welcomes your traditional lending or cash based offers.

4. 2026-03-13
   historical $280,000 612-char remark

   Show marketing remark (612 chars)

   Here's an opportunity to own a 4 plex with a 9% cap rate, 11.43% Proforma, and owner occupy opportunity as well! Positioned on a quiet street that dead ends to a park overlooking the Mississippi, convenient to Highway 55 and right in the heart of Carondelet. If that's not enough, its just had sewer lateral work completed, and a new roof in 2025. The building is fully occupied and so please do not disturb the tenants, showings can take place with an accepted contract. Seller is not interested in seller financing, sub to or trust based offers but welcomes your traditional lending or cash based offers.

5. 2025-08-11
   soldstatus Closed 626-char remark

   Show marketing remark (626 chars)

   Here's an opportunity to own a 4 plex with a 10.87% return, 12% Proforma, and owner occupy opportunity as well. Positioned on a quiet street that dead ends to a park overlooking the Mississippi, convenient to Highway 55 and right in the heart of Carondelet. If that's not enough, its just had sewer work completed, and the roof is in process of being replaced. The building is fully occupied and so please do not disturb the tenants, showings can take place with an accepted contract. Seller is not interested in seller financing, sub to or trust based offers but welcomes your traditional lending or cash based offers.

6. 2025-07-04
   status Pending 626-char remark

   Show marketing remark (626 chars)

   Here's an opportunity to own a 4 plex with a 10.87% return, 12% Proforma, and owner occupy opportunity as well. Positioned on a quiet street that dead ends to a park overlooking the Mississippi, convenient to Highway 55 and right in the heart of Carondelet. If that's not enough, its just had sewer work completed, and the roof is in process of being replaced. The building is fully occupied and so please do not disturb the tenants, showings can take place with an accepted contract. Seller is not interested in seller financing, sub to or trust based offers but welcomes your traditional lending or cash based offers.

7. 2025-06-26
   listed $259,900 Active 626-char remark

   Show marketing remark (626 chars)

   Here's an opportunity to own a 4 plex with a 10.87% return, 12% Proforma, and owner occupy opportunity as well. Positioned on a quiet street that dead ends to a park overlooking the Mississippi, convenient to Highway 55 and right in the heart of Carondelet. If that's not enough, its just had sewer work completed, and the roof is in process of being replaced. The building is fully occupied and so please do not disturb the tenants, showings can take place with an accepted contract. Seller is not interested in seller financing, sub to or trust based offers but welcomes your traditional lending or cash based offers.

8. 2023-03-10
   soldstatus $235,000
9. 2023-03-07
   soldstatus Closed
10. 2023-03-03
    status Pending
11. 2023-02-07
    historical Active Under Contract
12. 2023-01-15
    price $245,000
13. 2022-12-31
    status Active
14. 2022-12-23
    historical Active Under Contract
15. 2022-11-18
    price $255,000
16. 2022-10-17
    listed $260,000 Active
17. 2017-09-27
    soldstatus $128,546
18. 2003-11-20
    soldstatus
19. 1997-10-14
    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: $728 · $61/mo
• Projected year-2 tax: $2,648 · $221/mo
• Expected delta: +$1,920/yr (+$160/mo · 263.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $64,284
• − Mortgage interest: −$15,292
• − Property taxes: −$728
• − Insurance: −$1,365
• − Repairs & maintenance: −$5,143
• − Management: −$5,143
• − Depreciation: −$7,942
• Taxable income: $28,671
• Est. tax owed @ 24.0%: −$6,881
• After-tax cash flow: $24,630/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): 18,851
• Household income: $47,039
• Rent vs Own: 61.6% rent · 38.4% own
• Severe rent burden: 1364.0

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 0.65)
• Race & ethnicity: Black 42% White 41% Two or more races 11% Hispanic / Latino 9% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 3% Slovak 1% Romanian 1%
• Foreign-born: 7% · Canada, India
• Languages at home: 90% English-only · Spanish 7% Other Indo-European 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: ▼ -92.80%
• Current HPI: 169.4644
• Rent YoY: ▲ 3.27%
• 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

+112.4% since first listed

19 events — show timeline

• 2026-05-18 Contingent — MARIS as Distributed by MLS Grid
• 2026-04-16 Price Changed $273,000 MARIS as Distributed by MLS Grid
• 2026-03-13 Listed $280,000 MARIS as Distributed by MLS Grid
• 2026-03-13 Coming Soon $280,000 MARIS as Distributed by MLS Grid
• 2025-08-11 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2025-07-04 Pending — MARIS as Distributed by MLS Grid
• 2025-06-26 Listed $259,900 MARIS as Distributed by MLS Grid
• 2023-03-10 Sold (Public Records) $235,000 Public Records
• 2023-03-07 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2023-03-03 Pending — MARIS as Distributed by MLS Grid
• 2023-02-07 Contingent — MARIS as Distributed by MLS Grid
• 2023-01-15 Price Changed $245,000 MARIS as Distributed by MLS Grid
• 2022-12-31 Relisted — MARIS as Distributed by MLS Grid
• 2022-12-23 Contingent — MARIS as Distributed by MLS Grid
• 2022-11-18 Price Changed $255,000 MARIS as Distributed by MLS Grid
• 2022-10-17 Listed $260,000 MARIS as Distributed by MLS Grid
• 2017-09-27 Sold (Public Records) $128,546 Public Records
• 2003-11-20 Sold (Public Records) — Public Records
• 1997-10-14 Sold (Public Records) — Public Records

Property tax history

+1.8%/yr

Latest (2022): $728 · +0.1% YoY. Source: county tax records.