4614 Shenandoah Ave · St. Louis, MO 63110

$499,500

16 bd · 4.0 ba · 3,536 sqft · MultiFamily public records · 10 Days on market

Built 1925 4,800 sqft lot

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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 +19.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +4.7/10.0
• Rent growth +4.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• 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

Four-family investment opportunity in the highly desirable Southwest Garden neighborhood, just minutes from the Missouri Botanical Garden, Barnes-Jewish Hospital, Washington University Medical School, Forest Park, and Tower Grove Park. This 3,536 sq. ft. building features four true 1-bedroom units, each approximately 775 sq. ft. Two units are currently occupied, with one vacant unit offering an excellent opportunity for an owner-occupant or value-add investor. Each unit includes central heating and cooling, and the basement provides dedicated laundry hookups for each apartment. The building offers multiple paths to increase income. Rents may be raised with existing layouts, and there is pot

Key facts

• Rear parking pad
• Pvc plumbing stacks
• 6-year-old tpo roof

Tags

• DEDICATED LAUNDRY HOOKUPS
• FENCED BACKYARD
• REAR PARKING PAD
• 6-YEAR-OLD TPO ROOF
• MOSTLY REPLACED VINYL WINDOWS
• PVC PLUMBING STACKS

Property features AI

Finance

• Financial info: Gross income: $21,840; Net operating income: $10,393; Property is residential income (2–4 units)

Exterior

• Parking: Off-street parking; On-street parking
• Utilities: Public water
• Home design: Apartment building; Two levels
• Construction: Brick construction
• Exterior features: Fenced lot

Interior

• Bedrooms: Four 1-bedroom units
• Flooring: Hardwood
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Gas-powered cooling listed
• Interior features: Gas water heater; Hardwood floors
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1.0-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $541 ($6k/yr) — positive. Per door: $135/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $484k (3.0% below list).
• Recommended offer: $484k (3.0% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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.
• Zoned schools: Mann Elem. (math 8% / reading 12%, grade F, #1,037 of 1,115 statewide, top 94%, 240 students, 99% FRL); Roosevelt High (math 2% / reading 8%, grade F, #517 of 521 statewide, top 100%, 460 students, 99% FRL) — zoned schools average 99% FRL vs 80% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.2%/yr); 101 active listings in the ZIP; solid renter incomes; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• At $4,843/mo this rent would consume 71% of the median local household income ($82k/yr) (locally 921% 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 $3k of loan paydown is wiped out by about $15k 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.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 13y 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 $420k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $484,300 (3.0% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.97% ✗
• Cap rate: 7.59%
• Cash-on-cash: 4.64%
• DSCR: 1.21
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.24% rent growth · sell at horizon

5-year hold

• IRR: -5.6%
• Equity multiple: 0.78×
• Total profit: $-30,243
• Equity at exit: $74,477

10-year hold

• IRR: 7.4%
• Equity multiple: 1.64×
• Total profit: $89,372
• Equity at exit: $43,188

Cash invested: $139,860 (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 63110

• Rents YoY: 6.2%
• Active inventory: 101
• Price-to-rent: 34.4×

Monthly cashflow live

• Estimated rent: $4,843 high
• Mortgage (P&I): −$2,619
• Tax from tax record: −$458 /mo · $5,495/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,017
• Net cashflow: $541

Break-even live

Break-even rent $4,159

Max offer price $499,500

Occupancy floor 84%

Sensitivity live

Price	-10% $823	-5% $682	+0% $541	+5% $399	+10% $258
Rent	-10% $158	-5% $349	+0% $541	+5% $732	+10% $923
Rate	-1.0pp $792	-0.5pp $668	base $541	+0.5pp $411	+1.0pp $279

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$4,844
Total (4 units)			$4,843

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: $124,875
• Closing costs: $14,985
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $499,500 Active 10 DOM
2. 2026-06-18
   days on market $499,500 Active 7 DOM
3. 2026-06-17
   days on market $499,500 Active 6 DOM
4. 2026-06-16
   days on market $499,500 Active 5 DOM
5. 2026-06-15
   days on market $499,500 Active 4 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $499,500 Active 2 DOM

ⓘ 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: $5,495 · $458/mo
• Projected year-2 tax: $5,495 · $458/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 ≥108°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: $58,116
• − Mortgage interest: −$27,980
• − Property taxes: −$5,495
• − Insurance: −$2,498
• − Repairs & maintenance: −$4,649
• − Management: −$4,649
• − Depreciation: −$14,531
• Taxable loss: −$1,685
• Est. tax savings @ 24.0%: +$404
• After-tax cash flow: $6,891/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): 17,645
• Household income: $81,655
• Rent vs Own: 56.4% rent · 43.6% own
• Severe rent burden: 921.0

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: Majority White (65%)
• Race & ethnicity: White 65% Black 19% Two or more races 9% Hispanic / Latino 8% Asian 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 5% Slovak 3% Italian 3%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 91% English-only · Spanish 3% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▼ -206.93%
• Current HPI: 342.2466
• Rent YoY: ▲ 6.24%
• 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

+122.0% since first listed

12 events — show timeline

• 2026-06-11 Listed $499,500 MARIS as Distributed by MLS Grid
• 2025-10-09 Listed $514,900 MARIS as Distributed by MLS Grid
• 2025-10-09 Coming Soon — MARIS as Distributed by MLS Grid
• 2025-06-12 Relisted — MARIS as Distributed by MLS Grid
• 2025-05-20 Pending — MARIS as Distributed by MLS Grid
• 2025-03-26 Price Changed $529,000 MARIS as Distributed by MLS Grid
• 2025-03-04 Listed $559,000 MARIS as Distributed by MLS Grid
• 2021-03-11 Sold (Public Records) $420,000 Public Records
• 2020-02-12 Sold (Public Records) $369,000 Public Records
• 2013-10-21 Sold (Public Records) $220,000 Public Records
• 2013-10-10 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2013-06-11 Listed $225,000 MARIS as Distributed by MLS Grid

Property tax history

+8.5%/yr

Latest (2024): $5,495 · +12.0% YoY. Source: county tax records.