1040 Wachtel Ave · Lemay, MO 63125

$39,900

3 bd · 1.0 ba · 1,567 sqft · SingleFamily public records · 3 Days on market

Built 1922 4,199 sqft lot

---

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
• Livability +3.4/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Property is being sold as is. Seller to do no inspections or repairs. Please use a special sales contract and no inspection riders will be accepted. Buyers must close at Investors Title. Utilities are not on and will not be turned on. Owner is a licensed real estate broker, state of Missouri.

Key facts

• 4,199 sq ft lot
• 2 garage spots
• Built 1922

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer; Electric service by Ameren; Electricity available
• Home design: Single-family residence; One level
• Construction: Frame construction
• Exterior features: Level lot

Interior

• Bedrooms: 4 bedrooms total; 2 bedrooms on the main level; 2 bedrooms on the upper level
• Bathrooms: 1 full bathroom (main/upper levels)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Partial basement; 6 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $981 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Cap rate 35.8% vs local median 5.3% in Lemay — 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 67/100 on livability (#213 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, crime F.
• Hancock Place (suburban): math 30% / reading 34% proficiency, ranked #251 of 324 in MO (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hancock Place Elem. (math 34% / reading 34%, grade F, #739 of 1,115 statewide, top 67%, 616 students, 74% FRL); Hancock Place Middle (math 30% / reading 30%, grade F, #290 of 391 statewide, top 74%, 281 students, 92% FRL); Hancock Sr. High (math 22% / reading 47%, grade F, #321 of 521 statewide, top 67%, 389 students, 91% FRL) — zoned schools average 86% FRL vs 57% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 148 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); 920 units permitted in St. Louis County in 2024 (250 in 5+ unit buildings).
• This rent runs 33% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1922 — 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 $39,900

Questions for the listing agent

1. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 4.21% ✓
• Cap rate: 35.80%
• Cash-on-cash: 105.38%
• DSCR: 5.69
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $173,937
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9533 Gentry Ave	0.22mi	3/1.0	1,491 (-5%)	2mo	$165,000	$111	80
329 Goetz Ave	0.32mi	3/1.0	1,497 (-4%)	2mo	$35,000	$23	76
803 Alleghany Dr	0.28mi	3/2.0	1,496 (-4%)	2mo	$259,900	$174	74
1451 Wachtel Dr	0.25mi	2/2.0 (-1)	1,558 (-1%)	6mo	$165,000	$106	74
1505 Telegraph Rd	0.24mi	3/2.0	1,444 (-8%)	3mo	$259,900	$180	69
123 W Velma Ave	0.34mi	2/2.0 (-1)	1,432 (-9%)	5mo	$140,000	$98	57
156 W Holden Ave	0.33mi	3/2.0	1,344 (-14%)	5mo	$79,950	$59	53
804 Shady Ridge Ct	0.73mi	3/3.0	1,625 (+4%)	2mo	$322,500	$198	50
125 E Etta Ave	0.44mi	2/2.0 (-1)	1,382 (-12%)	1mo	$44,900	$32	50
108 Horn Ave	0.61mi	2/2.0 (-1)	1,739 (+11%)	1mo	$40,000	$23	44
9946 Brook Ave	0.74mi	4/2.5 (+1)	1,733 (+11%)	2mo	$210,000	$121	35
1805 Diane Dr	0.71mi	2/2.0 (-1)	1,388 (-11%)	5mo	$247,000	$178	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 6.02×
• Total profit: $56,085
• Equity at exit: $5,949

10-year hold

• IRR: —
• Equity multiple: 12.60×
• Total profit: $129,569
• Equity at exit: $3,450

Cash invested: $11,172 (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 63125

• Active inventory: 148
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,678 high
• Mortgage (P&I): −$209
• Tax from tax record: −$119 /mo · $1,423/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $981

Break-even live

Break-even rent $436

Max offer price $39,900

Occupancy floor 37%

Sensitivity live

Price	-10% $1,004	-5% $992	+0% $981	+5% $970	+10% $958
Rent	-10% $848	-5% $915	+0% $981	+5% $1,047	+10% $1,114
Rate	-1.0pp $1,001	-0.5pp $991	base $981	+0.5pp $971	+1.0pp $960

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
349 Lagro Ave Saint Louis, MO	3.0	1.0	1184	$1,500	$1.27	46d	1	0.41mi
336 Lagro Ave Saint Louis, MO	2.0	2.0	1340	$1,250	$0.93	46d	1	0.41mi
229 Horn Ave Saint Louis, MO	2.0	1.5	1301	$1,871	$1.44	0d	1	0.57mi
304 Bayless Ave Saint Louis, MO	3.0	1.0	1104	$1,950	$1.77	0d	1	0.58mi
9954 Meadow Ave Saint Louis, MO	2.0	1.0	1100	$1,050	$0.95	6d	1	0.75mi
9963 Meadow Ave Saint Louis, MO	3.0	2.0	1628	$1,701	$1.04	46d	1	0.78mi
2231 Rosegarden Dr Saint Louis, MO	3.0	3.0	1649	$2,100	$1.27	0d	1	1.05mi
300 Southwark Ln Saint Louis, MO	4.0	2.5	2200	$2,400	$1.09	5d	1	1.20mi
1269 Mangrove Ln St. Louis, MO	1.0–2.0	1.0–2.0	962	$1,649	$1.71	0d	7	1.29mi
7924 Michigan Ave Unit 2F St. Louis, MO	3.0	2.0	1250	$1,195	$0.96	5d	1	1.44mi
2628 Wessex Dr Saint Louis, MO	3.0	2.0	1560	$1,975	$1.27	21d	1	1.45mi
4610 Heege Rd Saint Louis, MO	3.0	1.5	1205	$1,485	$1.23	18d	1	1.47mi

Listing history 3 events

1. 2026-06-21
   days on market $39,900 Active 3 DOM
2. 2026-06-18
   remarks 293-char remark
3. 2026-06-18
   listed $39,900 Active 1 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: $1,423 · $119/mo
• Projected year-2 tax: $1,423 · $119/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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,134
• − Mortgage interest: −$2,235
• − Property taxes: −$1,423
• − Insurance: −$200
• − Repairs & maintenance: −$1,611
• − Management: −$1,611
• − Depreciation: −$1,161
• Taxable income: $11,894
• Est. tax owed @ 24.0%: −$2,855
• After-tax cash flow: $8,918/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: Hancock Place
• NCES district ID: 2913620
• Math proficiency: 30% ▼ -16.00%
• Reading proficiency: 34% ▼ -11.00%
• Median HH income: $41,890
• Composite: 27.08/100
• National rank: #7048
• State rank: #251 of 324 in MO

Livability — Lemay

• Score: 67/100
• State rank: #213
• US rank: #10652

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lemay, MO
• County: Saint Louis County · 888,823 people
• City population: 33,294
• Metro: St. Louis, MO-IL
• Population (ZIP): 33,294
• Household income: $61,624
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 631.0

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: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 5% Black 4% Hispanic / Latino 4% Asian 2%
• Common ancestry: American 9% Romanian 3% Lithuanian 3%
• Foreign-born: 14% · Canada, Vietnam
• Languages at home: 83% English-only · Russian/Polish/Slavic 11% Spanish 3% Vietnamese 1%

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: ▼ -173.27%
• Current HPI: 234.3792
• 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

+14.3% since first listed

2 events — show timeline

• 2026-06-18 Listed $39,900 MARIS as Distributed by MLS Grid
• 1991-04-03 Sold (Public Records) $34,900 Public Records

Property tax history

+8.3%/yr

Latest (2022): $1,423 · +1.8% YoY. Source: county tax records.