2845 Meramec St · St. Louis, MO 63118

$307,000

16 bd · 4.0 ba · 3,400 sqft · MultiFamily public records · 28 Days on market

Built 1924 5,501 sqft lot

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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
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Rent growth +3.7/5.0
• 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

Income-generating, occupied 4-family! This updated brick building is the perfect opportunity to start or expand your investment portfolio. All four units have been improved with major big-ticket updates in 2018 including, but not limited: sewer lateral, 200 amp panels & electric, roof, windows, interior plumbing, updated baths/kitchens and HVAC. Each unit features a functional layout with a spacious living room, kitchen, large full bath, and 1 bedroom. Tenants enjoy off-street parking and a fenced yard, plus convenient access to public transportation. Current rents are $800 per unit with room to increase, providing solid income from day one. All tenants are currently month-to-month, b

Key facts

• Off street parking
• Fenced yard
• 5,501 sq ft lot

Tags

• UPDATED BRICK BUILDING
• OFF STREET PARKING
• FENCED YARD

Property features AI

Finance

• Financial info: Net operating income: $6,787

Exterior

• Parking: Off-street parking; Parking pad; Carport with 4 spaces (total parking for 4)
• Utilities: Public water; Sewer connected; Natural gas connected; Electricity connected (Ameren)
• Home design: Residential income property (2–4 unit building)
• Construction: Brick construction
• Exterior features: Back yard fencing

Interior

• Bedrooms: One-bedroom units (four total units)
• Bathrooms: One bathroom per unit
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full unfinished basement; Net operating income reported for the property
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $307k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $292/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $307k).
• Recommended offer: $302k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.9% 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.
• Zoned schools: Meramec Elem. (math 2% / reading 8%, grade F, #1,072 of 1,115 statewide, top 98%, 202 students, 98% 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 (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.9%/yr); 240 active listings in the ZIP; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• At $3,755/mo this rent would consume 78% of the median local household income ($58k/yr) (locally 1495% 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 $9k 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 + 4.9% rent growth), your $86k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($302k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $22k; list at $307k implies a 1310% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $302,395 (1.5% 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 1924 — 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. 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.
6. 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.
7. 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: 1.22% ✓
• Cap rate: 10.85%
• Cash-on-cash: 16.29%
• DSCR: 1.72
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.89% rent growth · sell at horizon

5-year hold

• IRR: 9.2%
• Equity multiple: 1.37×
• Total profit: $31,707
• Equity at exit: $45,775

10-year hold

• IRR: 19.7%
• Equity multiple: 2.79×
• Total profit: $153,764
• Equity at exit: $26,544

Cash invested: $85,960 (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 63118

• Rents YoY: 4.9%
• Active inventory: 240
• Price-to-rent: 27.3×

Monthly cashflow live

• Estimated rent: $3,755 high
• Mortgage (P&I): −$1,610
• Tax from tax record: −$62 /mo · $740/yr
• Insurance: −$128
• HOA: −$0
• Vacancy / Maint / Mgmt: −$789
• Net cashflow: $1,167

Break-even live

Break-even rent $2,278

Max offer price $307,000

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$3,756
Total (4 units)			$3,755

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: $76,750
• Closing costs: $9,210
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $307,000 Active 28 DOM
2. 2026-06-17
   days on market $307,000 Active 27 DOM
3. 2026-06-16
   days on market $307,000 Active 26 DOM
4. 2026-06-15
   days on market $307,000 Active 25 DOM
5. 2026-06-13
   days on market $307,000 Active 23 DOM
6. 2026-06-09
   days on market $307,000 Active 19 DOM
7. 2026-06-08
   days on market $307,000 Active 18 DOM
8. 2026-06-07
   days on market $307,000 Active 17 DOM
9. 2026-06-05
   days on market $307,000 Active 14 DOM
10. 2026-06-03
    days on market $307,000 Active 13 DOM
11. 2026-06-02
    days on market $307,000 Active 12 DOM
12. 2026-06-01
    days on market $307,000 Active 11 DOM
13. 2026-05-31
    days on market $307,000 Active 10 DOM
14. 2026-05-21
    listed $307,000 Active
15. 2015-09-03
    soldstatus $21,780
16. 2005-08-26
    soldstatus $117,300
17. 2002-05-29
    soldstatus $49,000
18. 1998-10-06
    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: $740 · $62/mo
• Projected year-2 tax: $2,978 · $248/mo
• Expected delta: +$2,238/yr (+$186/mo · 302.2%)

ⓘ 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: $45,060
• − Mortgage interest: −$17,197
• − Property taxes: −$740
• − Insurance: −$1,535
• − Repairs & maintenance: −$3,605
• − Management: −$3,605
• − Depreciation: −$8,931
• Taxable income: $9,447
• Est. tax owed @ 24.0%: −$2,267
• After-tax cash flow: $11,735/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): 25,913
• Household income: $57,762
• Rent vs Own: 56.1% rent · 43.9% own
• Severe rent burden: 1495.0

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 0.63)
• Race & ethnicity: White 44% Black 41% Two or more races 8% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 2%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 5% Vietnamese 1% French/Haitian/Cajun 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: ▼ -347.51%
• Current HPI: 171.5963
• Rent YoY: ▲ 4.89%
• 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

+526.5% since first listed

5 events — show timeline

• 2026-05-21 Listed $307,000 MARIS as Distributed by MLS Grid
• 2015-09-03 Sold (Public Records) $21,780 Public Records
• 2005-08-26 Sold (Public Records) $117,300 Public Records
• 2002-05-29 Sold (Public Records) $49,000 Public Records
• 1998-10-06 Sold (Public Records) — Public Records

Property tax history

+2.4%/yr

Latest (2024): $740 · +5.0% YoY. Source: county tax records.