1948 Marine Terrace Dr Unit B · Maryland Heights, MO 63146

$152,500

2 bd · 2.0 ba · 868 sqft · Condo public records · 43 Days on market

Built 1989 $176/sqft · at area comps Est $148k · at est. $270/mo HOA · 17% of rent

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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 +13.7/30.0
• Appreciation +10.0/10.0
• ARV discount +6.0/15.0
• 1% rule +5.4/10.0
• Schools +5.1/10.0
• DSCR +4.1/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0

Listing remarks MLS

Just move your suit case in and enjoy. This two bedroom, two full bath condo offers everything you would want. It is like walking into a fully decorated display - newer flooring throughout condo. The kitchen has nice wood cabinets, subway tile, updated counters and lighting, b/i microwave, dishwasher and stainless steel refrigerator (new in 2015) plus a pantry. Light and Bright Family Room with large sliding door to covered patio with additional storage closet. Master bedroom suite has its own full updated bath with vessel sink and ceramic tile flooring. Both bedrooms have triple closet, linen closet and master has additional closet-great amount of storage. Updated 2nd full bath. The entire condo was professional painted in 2015 with wonderful updated colors. Utilities are budget friendly. Private Laundry-Washer/Dryer included. Condo fee includes water, sewer, trash, lawn, snow and ext building insurance. The pool is right across from unit. All furnishings available for $3500.

Key facts

• Complex pool
• Granite countertops
• $270 HOA

Tags

• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• INCLUDED WASHER AND DRYER
• COMPLEX POOL
• COMMUNITY GREEN SPACE

Property features AI

Finance

• Other: Living area reported as 868 (public records)
• Financial info: No second mortgage reported
• HOA & community: Association: Sherwood Place; Monthly association fee of $270; HOA covers grounds maintenance, parking/road maintenance, common area maintenance, exterior maintenance, pool maintenance, management, parking fee, pool, roof, sewer, snow removal, trash and water; Association amenities include managed common ground, parking and pool

Exterior

• Parking: Has carport (1 space); Community parking available
• Security: No security details provided
• Utilities: Public water; Public sewer; Electric service by Ameren; Electricity, sewer and water connected
• Home design: Condominium; Single-story (One level)
• Construction: Brick veneer and vinyl siding exterior
• Exterior features: Adjoins common ground; Community outdoor pool

Interior

• Kitchen: No detailed kitchen appliance list provided
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: No flooring details provided
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Forced air heating; Central air conditioning
• Laundry & utility: No laundry/utility details provided

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $152k.

Deal economics

• At list price, monthly cash flow is $11 ($134/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $152k).
• Recommended offer: $148k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 4.3% in Maryland Heights — 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 71/100 on livability (#101 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, amenities F, commute F.
• Parkway C-2 (suburban): math 49% / reading 62% proficiency, ranked #18 of 324 in MO (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Mckelvey Primary (234 students, 8% FRL); North High (math 35% / reading 70%, grade C-, #89 of 521 statewide, top 17%, 1,074 students, 34% FRL).
• Market conditions: Rents soft (-3.0%/yr); 170 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 920 units permitted in St. Louis County in 2024 (250 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 0.0% rent growth), your $43k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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 $93k; list at $152k implies a 64% gain — meaningful room to come down on a strong offer.

Recommended offer $147,925 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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.
7. 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.
8. 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: 1.04% ✓
• Cap rate: 6.38%
• Cash-on-cash: 0.31%
• DSCR: 1.01
• GRM: 8.0

CMA / ARV

• ARV (median comp): $147,612
• List price: $152,500
• Delta: 3.31%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 23.4%
• Equity multiple: 2.86×
• Total profit: $79,258
• Equity at exit: $137,384

10-year hold

• IRR: 20.0%
• Equity multiple: 6.26×
• Total profit: $224,800
• Equity at exit: $296,274

Cash invested: $42,700 (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 63146

• Home prices YoY: 4.9%
• Rents YoY: -3.0%
• Active inventory: 170
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,586 high
• Mortgage (P&I): −$800
• Tax from tax record: −$108 /mo · $1,298/yr
• Insurance: −$64
• HOA: −$270
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $11

Break-even live

Break-even rent $1,571

Max offer price $152,500

Occupancy floor 94%

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: $38,125
• Closing costs: $4,575
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2037 Chablis Dr Saint Louis, MO	1.0–2.0	1.0–1.5	780	$1,588	$2.04	1d	68	0.14mi
2207 Summerhouse Dr St. Louis, MO	1.0–3.0	1.0–2.0	804	$1,304	$1.62	3d	21	0.48mi
1951 Oberlin Dr St. Louis, MO	1.0–3.0	1.0–2.5	993	$1,684	$1.70	1d	23	0.49mi
1895 Boulder Springs Dr St. Louis, MO	1.0–3.0	1.0–2.5	1083	$2,258	$2.09	1d	6	0.88mi
12401 Boulder Springs Pkwy St. Louis, MO	1.0–3.0	1.0–2.0	1006	$2,294	$2.28	1d	10	0.96mi
2050 Lakerun Ct Maryland Heights, MO	1.0–3.0	1.0–2.5	1213	$1,615	$1.33	1d	15	1.03mi
1432 Glenmeade Dr Maryland Heights, MO	3.0	2.0	1090	$2,176	$2.00	10d	1	1.04mi
12545 Markaire Dr St. Louis, MO	1.0–3.0	1.0–4.0	1420	$2,188	$1.54	10d	5	1.16mi

HOA detail condo

• Monthly dues: $270 · $3,240/yr
• Likely covers: watersewertrashinsurancepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-18
   days on market $152,500 Active 43 DOM
2. 2026-06-17
   days on market $152,500 Active 42 DOM
3. 2026-06-16
   days on market $152,500 Active 41 DOM
4. 2026-06-15
   days on market $152,500 Active 40 DOM
5. 2026-06-13
   days on market $152,500 Active 38 DOM
6. 2026-06-13
   days on market $152,500 Active 37 DOM
7. 2026-06-09
   days on market $152,500 Active 34 DOM
8. 2026-06-08
   days on market $152,500 Active 33 DOM
9. 2026-06-07
   days on market $152,500 Active 32 DOM
10. 2026-06-03
    days on market $152,500 Active 28 DOM
11. 2026-06-02
    days on market $152,500 Active 27 DOM
12. 2026-06-01
    days on market $152,500 Active 26 DOM
13. 2026-05-31
    days on market $152,500 Active 25 DOM
14. 2026-05-06
    listed $152,500 Active 812-char remark
15. 2026-05-06
    historical $152,500 812-char remark
16. 2017-07-14
    soldstatus $93,000
17. 2017-07-07
    soldstatus Closed 999-char remark

    Show marketing remark (999 chars)

    Just move your suit case in and enjoy. This two bedroom, two full bath condo offers everything you would want. It is like walking into a fully decorated display - newer flooring throughout condo. The kitchen has nice wood cabinets, subway tile, updated counters and lighting, b/i microwave, dishwasher and stainless steel refrigerator (new in 2015) plus a pantry. Light and Bright Family Room with large sliding door to covered patio with additional storage closet. Master bedroom suite has its own full updated bath with vessel sink and ceramic tile flooring. Both bedrooms have triple closet, linen closet and master has additional closet-great amount of storage. Updated 2nd full bath. The entire condo was professional painted in 2015 with wonderful updated colors. Utilities are budget friendly. Private Laundry-Washer/Dryer included. Condo fee includes water, sewer, trash, lawn, snow and ext building insurance. The pool is right across from unit. All furnishings available for $3500.

18. 2017-06-21
    status Pending 999-char remark

    Show marketing remark (999 chars)

    Just move your suit case in and enjoy. This two bedroom, two full bath condo offers everything you would want. It is like walking into a fully decorated display - newer flooring throughout condo. The kitchen has nice wood cabinets, subway tile, updated counters and lighting, b/i microwave, dishwasher and stainless steel refrigerator (new in 2015) plus a pantry. Light and Bright Family Room with large sliding door to covered patio with additional storage closet. Master bedroom suite has its own full updated bath with vessel sink and ceramic tile flooring. Both bedrooms have triple closet, linen closet and master has additional closet-great amount of storage. Updated 2nd full bath. The entire condo was professional painted in 2015 with wonderful updated colors. Utilities are budget friendly. Private Laundry-Washer/Dryer included. Condo fee includes water, sewer, trash, lawn, snow and ext building insurance. The pool is right across from unit. All furnishings available for $3500.

19. 2017-06-14
    status Active 999-char remark

    Show marketing remark (999 chars)

    Just move your suit case in and enjoy. This two bedroom, two full bath condo offers everything you would want. It is like walking into a fully decorated display - newer flooring throughout condo. The kitchen has nice wood cabinets, subway tile, updated counters and lighting, b/i microwave, dishwasher and stainless steel refrigerator (new in 2015) plus a pantry. Light and Bright Family Room with large sliding door to covered patio with additional storage closet. Master bedroom suite has its own full updated bath with vessel sink and ceramic tile flooring. Both bedrooms have triple closet, linen closet and master has additional closet-great amount of storage. Updated 2nd full bath. The entire condo was professional painted in 2015 with wonderful updated colors. Utilities are budget friendly. Private Laundry-Washer/Dryer included. Condo fee includes water, sewer, trash, lawn, snow and ext building insurance. The pool is right across from unit. All furnishings available for $3500.

20. 2017-05-29
    status Pending 999-char remark

    Show marketing remark (999 chars)

    Just move your suit case in and enjoy. This two bedroom, two full bath condo offers everything you would want. It is like walking into a fully decorated display - newer flooring throughout condo. The kitchen has nice wood cabinets, subway tile, updated counters and lighting, b/i microwave, dishwasher and stainless steel refrigerator (new in 2015) plus a pantry. Light and Bright Family Room with large sliding door to covered patio with additional storage closet. Master bedroom suite has its own full updated bath with vessel sink and ceramic tile flooring. Both bedrooms have triple closet, linen closet and master has additional closet-great amount of storage. Updated 2nd full bath. The entire condo was professional painted in 2015 with wonderful updated colors. Utilities are budget friendly. Private Laundry-Washer/Dryer included. Condo fee includes water, sewer, trash, lawn, snow and ext building insurance. The pool is right across from unit. All furnishings available for $3500.

21. 2017-05-23
    listed $92,000 Active 999-char remark

    Show marketing remark (999 chars)

    Just move your suit case in and enjoy. This two bedroom, two full bath condo offers everything you would want. It is like walking into a fully decorated display - newer flooring throughout condo. The kitchen has nice wood cabinets, subway tile, updated counters and lighting, b/i microwave, dishwasher and stainless steel refrigerator (new in 2015) plus a pantry. Light and Bright Family Room with large sliding door to covered patio with additional storage closet. Master bedroom suite has its own full updated bath with vessel sink and ceramic tile flooring. Both bedrooms have triple closet, linen closet and master has additional closet-great amount of storage. Updated 2nd full bath. The entire condo was professional painted in 2015 with wonderful updated colors. Utilities are budget friendly. Private Laundry-Washer/Dryer included. Condo fee includes water, sewer, trash, lawn, snow and ext building insurance. The pool is right across from unit. All furnishings available for $3500.

22. 2015-07-15
    soldstatus $83,000
23. 2015-07-02
    soldstatus Closed

    Show marketing remark (755 chars)

    This wonderfully updated condo is move-in ready and features a master bedroom suite with a full bath and an abundance of closet space. There is also a 2nd bedroom and 2nd full bathroom plus an in unit laundry with the washer/dryer included. Another nice feature is that it is a ground floor unit with a patio and a storage closet. The updated kitchen includes the refrigerator plus a stainless steel stove and built-in microwave, new dishwasher plus a new countertop and subway tile backsplash. There is newer upgraded laminate flooring throughout the open floor plan. Both bathrooms are tastefully updated with ceramic flooring, new vanities, toilets and lighting. The long list of updates also includes a newer furnace, air conditioner and water heater.

24. 2015-06-24
    historical

    Show marketing remark (755 chars)

    This wonderfully updated condo is move-in ready and features a master bedroom suite with a full bath and an abundance of closet space. There is also a 2nd bedroom and 2nd full bathroom plus an in unit laundry with the washer/dryer included. Another nice feature is that it is a ground floor unit with a patio and a storage closet. The updated kitchen includes the refrigerator plus a stainless steel stove and built-in microwave, new dishwasher plus a new countertop and subway tile backsplash. There is newer upgraded laminate flooring throughout the open floor plan. Both bathrooms are tastefully updated with ceramic flooring, new vanities, toilets and lighting. The long list of updates also includes a newer furnace, air conditioner and water heater.

25. 2015-06-14
    historical Option

    Show marketing remark (755 chars)

    This wonderfully updated condo is move-in ready and features a master bedroom suite with a full bath and an abundance of closet space. There is also a 2nd bedroom and 2nd full bathroom plus an in unit laundry with the washer/dryer included. Another nice feature is that it is a ground floor unit with a patio and a storage closet. The updated kitchen includes the refrigerator plus a stainless steel stove and built-in microwave, new dishwasher plus a new countertop and subway tile backsplash. There is newer upgraded laminate flooring throughout the open floor plan. Both bathrooms are tastefully updated with ceramic flooring, new vanities, toilets and lighting. The long list of updates also includes a newer furnace, air conditioner and water heater.

26. 2015-06-09
    listed $89,900 Active

    Show marketing remark (755 chars)

    This wonderfully updated condo is move-in ready and features a master bedroom suite with a full bath and an abundance of closet space. There is also a 2nd bedroom and 2nd full bathroom plus an in unit laundry with the washer/dryer included. Another nice feature is that it is a ground floor unit with a patio and a storage closet. The updated kitchen includes the refrigerator plus a stainless steel stove and built-in microwave, new dishwasher plus a new countertop and subway tile backsplash. There is newer upgraded laminate flooring throughout the open floor plan. Both bathrooms are tastefully updated with ceramic flooring, new vanities, toilets and lighting. The long list of updates also includes a newer furnace, air conditioner and water heater.

27. 2008-02-13
    soldstatus $95,500
28. 2003-08-08
    soldstatus $94,900
29. 2001-03-08
    soldstatus $74,000
30. 1999-04-19
    soldstatus $63,000
31. 1996-04-24
    soldstatus $59,000
32. 1993-09-07
    soldstatus $57,600
33. 1989-07-01
    soldstatus $62,823

ⓘ 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: $1,298 · $108/mo
• Projected year-2 tax: $1,479 · $123/mo
• Expected delta: +$181/yr (+$15/mo · 13.9%)

ⓘ 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 4/10 Moderate 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,027
• − Mortgage interest: −$8,542
• − Property taxes: −$1,298
• − Insurance: −$762
• − Repairs & maintenance: −$1,522
• − Management: −$1,522
• − HOA: −$3,240
• − Depreciation: −$4,436
• Taxable loss: −$2,297
• Est. tax savings @ 24.0%: +$551
• After-tax cash flow: $685/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: Parkway C-2
• NCES district ID: 2923580
• Math proficiency: 49% ▼ -11.00%
• Reading proficiency: 62% ▼ -2.00%
• Median HH income: $83,551
• Composite: 50.5/100
• National rank: #1851
• State rank: #18 of 324 in MO

Livability — Maryland Heights

• Score: 71/100
• State rank: #101
• US rank: #6808

Category grades

Amenities F Commute F Cost of living A+ Crime A- Employment B+ Housing A+ Health & safety C- User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Maryland Heights, MO
• County: Saint Louis County · 888,823 people
• City population: 20,932
• Metro: St. Louis, MO-IL
• Population (ZIP): 30,678
• Household income: $84,756
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 1156.0

Population outlook (St. Louis County) Hauer SSP2

• Today (2025): 1,025,227 people
• By 2030: 1,028,023 · +0.3%
• By 2040: 1,020,940 · -0.4%
• By 2050: 1,007,280 · -1.8%
• By 2075: 987,277 · -3.7%
• By 2100: 921,984 · -10.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 63% Asian 17% Black 13% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Scotch-Irish 3% Romanian 3% Italian 2%
• Foreign-born: 19% · China, South Korea, Canada
• Languages at home: 79% English-only · Other Asian/Pacific 7% Other Indo-European 4% Chinese 3%

Political lean MEDSL · St. Louis

• 2024 margin: Strong D (+23.4) · D 60.8% · R 37.4% · Other 1.7%
• 2008→2024 swing: +3.5pp toward D · 2008: 19.9pp · 2024: 23.4pp
• All cycles: 2024: D+23.4 2020: D+24.0 2016: D+16.2 2012: D+13.7 2008: D+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 33.10%
• Current HPI: 711.49
• Rent YoY: ▼ -2.96%
• 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

+142.7% since first listed

20 events — show timeline

• 2026-05-06 Listed $152,500 MARIS as Distributed by MLS Grid
• 2026-05-06 Coming Soon $152,500 MARIS as Distributed by MLS Grid
• 2017-07-14 Sold (Public Records) $93,000 Public Records
• 2017-07-07 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2017-06-21 Pending — MARIS as Distributed by MLS Grid
• 2017-06-14 Relisted — MARIS as Distributed by MLS Grid
• 2017-05-29 Pending — MARIS as Distributed by MLS Grid
• 2017-05-23 Listed $92,000 MARIS as Distributed by MLS Grid
• 2015-07-15 Sold (Public Records) $83,000 Public Records
• 2015-07-02 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2015-06-24 Delisted — MARIS as Distributed by MLS Grid
• 2015-06-14 Contingent — MARIS as Distributed by MLS Grid
• 2015-06-09 Listed $89,900 MARIS as Distributed by MLS Grid
• 2008-02-13 Sold (Public Records) $95,500 Public Records
• 2003-08-08 Sold (Public Records) $94,900 Public Records
• 2001-03-08 Sold (Public Records) $74,000 Public Records
• 1999-04-19 Sold (Public Records) $63,000 Public Records
• 1996-04-24 Sold (Public Records) $59,000 Public Records
• 1993-09-07 Sold (Public Records) $57,600 Public Records
• 1989-07-01 Sold (Public Records) $62,823 Public Records

Property tax history

+1.8%/yr

Latest (2022): $1,298 · +0.7% YoY. Source: county tax records.