5104 Thekla Ave · St. Louis, MO 63115

$25,000

6 bd · 2.0 ba · 2,340 sqft · MultiFamily public records · 56 Days on market

Built 1925 3,449 sqft lot $11/sqft · 69% below area ↓ 40% since listing

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Multi-family units

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

Listing remarks MLS

Solid two family in North St Louis City, needs full rehab, could be turned into 23 bedroom units. Bring your idea. Close to highways, public transportation, schools, hospitals, and stores.

Key facts

• 3,449 sq ft lot
• Built 1925
• Listed 56 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $25k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $857/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• Recommended offer: $24k (3.0% below list) — sets the bar for market timing.
• Cap rate 88.5% 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.
• Market conditions: 97 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• At $2,382/mo this rent would consume 93% of the median local household income ($31k/yr) (locally 1655% 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 $173 of loan paydown is wiped out by about $750 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 + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $24,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 9.53% ✓
• Cap rate: 88.53%
• Cash-on-cash: 293.72%
• DSCR: 14.07
• GRM: 0.9

CMA / ARV

• ARV (median comp): $80,593
• List price: $25,000
• Delta: -68.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 16.02×
• Total profit: $105,108
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 34.17×
• Total profit: $232,178
• Equity at exit: $2,162

Cash invested: $7,000 (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 63115

• Home prices YoY: -2.6%
• Active inventory: 97
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $2,382 high
• Mortgage (P&I): −$131
• Tax from tax record: −$27 /mo · $323/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $1,713

Break-even live

Break-even rent $213

Max offer price $25,000

Occupancy floor 23%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,382
Total (2 units)			$2,382

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5341 Goodfellow Blvd Saint Louis, MO	6.0	3.0	3000	$1,575	$0.53	2d	1	1.47mi

Listing history 16 events

1. 2026-06-18
   days on market $25,000 Active 56 DOM
2. 2026-06-17
   days on market $25,000 Active 55 DOM
3. 2026-06-16
   days on market $25,000 Active 54 DOM
4. 2026-06-15
   days on market $25,000 Active 53 DOM
5. 2026-06-13
   days on market $25,000 Active 51 DOM
6. 2026-06-09
   days on market $25,000 Active 47 DOM
7. 2026-06-08
   days on market $25,000 Active 46 DOM
8. 2026-06-07
   days on market $25,000 Active 45 DOM
9. 2026-05-31
   days on market $25,000 Active 43 DOM
10. 2026-04-18
    listed $30,000 Active 188-char remark

    Show marketing remark (188 chars)

    Solid two family in North St Louis City, needs full rehab, could be turned into 23 bedroom units. Bring your idea. Close to highways, public transportation, schools, hospitals, and stores.

11. 2025-06-18
    price $37,000
12. 2025-06-13
    price $42,000
13. 2025-06-10
    price $47,000
14. 2025-06-02
    listed $50,000 Active
15. 1995-09-26
    soldstatus
16. 1995-05-03
    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: $323 · $27/mo
• Projected year-2 tax: $323 · $27/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,584
• − Mortgage interest: −$1,400
• − Property taxes: −$323
• − Insurance: −$125
• − Repairs & maintenance: −$2,287
• − Management: −$2,287
• − Depreciation: −$727
• Taxable income: $21,435
• Est. tax owed @ 24.0%: −$5,144
• After-tax cash flow: $15,416/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): 14,488
• Household income: $30,622
• Rent vs Own: 57.7% rent · 42.3% own
• Severe rent burden: 1655.0

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: Predominantly Black (95%)
• Race & ethnicity: Black 95% White 2% Two or more races 2%
• Foreign-born: 0%

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: ▼ -3.42%
• Current HPI: 127.3403
• Rent YoY: —
• 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

-40.0% since first listed

7 events — show timeline

• 2026-04-18 Listed $30,000 MARIS as Distributed by MLS Grid
• 2025-06-18 Price Changed $37,000 MARIS as Distributed by MLS Grid
• 2025-06-13 Price Changed $42,000 MARIS as Distributed by MLS Grid
• 2025-06-10 Price Changed $47,000 MARIS as Distributed by MLS Grid
• 2025-06-02 Listed $50,000 MARIS as Distributed by MLS Grid
• 1995-09-26 Sold (Public Records) — Public Records
• 1995-05-03 Sold (Public Records) — Public Records

Property tax history

-2.6%/yr

Latest (2024): $323 · +4.7% YoY. Source: county tax records.