1512 Palm St · St. Louis, MO 63107

$199,900

6 bd · 4.0 ba · 3,144 sqft · MultiFamily public records · 91 Days on market

Built 1890 4,852 sqft lot $64/sqft · 589% above area

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Why this score? — see what drove the B- 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 +27.6/30.0
• DSCR +9.7/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Appreciation +4.1/10.0
• 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

Introducing 1512 Palm, a partially renovated duplex in Old North St. Louis where opportunity meets transformation. Each side is a 3-story townhouse offering a rare opportunity with upside. One unit is nearly 80% complete with new floors, fresh paint, updated plumbing and electrical, while the other is a blank slate ready for your vision. Major updates include a new roof and modern systems, giving you a strong foundation to finish. The sale also includes the adjoining property at 1510 Palm, creating the rare chance to own two connected parcels with an option to seperate to three parcels (1510, 1512 and 1514 Palm!). Whether you plan to rent, rehab, or redevelop, this property showcases the potential of a neighborhood on the rise - supported by recent comparable sales in the area reaching into the low $320s, even with smaller layouts. Within walking distance to Crown Candy Kitchen and located at the core of the neighborhood, Old North St. Louis is experiencing a wave of restoration. Here's your chance to be a part of the momentum at 1512 Palm.

Key facts

• New floors
• Updated electrical
• Fresh paint

Tags

• PARTIALLY RENOVATED DUPLEX
• 3 STORY TOWNHOUSE
• NEW FLOORS
• FRESH PAINT
• UPDATED PLUMBING
• UPDATED ELECTRICAL

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $600 ($7k/yr) — positive. Per door: $300/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $182k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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 B — 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: 58 active listings in the ZIP; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 (-1.8% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $5k; list at $200k implies a 3898% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — 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 $181,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% 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 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.25% ✓
• Cap rate: 9.89%
• Cash-on-cash: 12.86%
• DSCR: 1.57
• GRM: 6.6

CMA / ARV

• ARV (median comp): $29,021
• List price: $199,900
• Delta: 588.80%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

-1.75% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.9%
• Equity multiple: 1.29×
• Total profit: $16,502
• Equity at exit: $41,137

10-year hold

• IRR: 14.3%
• Equity multiple: 2.31×
• Total profit: $73,342
• Equity at exit: $37,388

Cash invested: $55,972 (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 63107

• Home prices YoY: -1.9%
• Active inventory: 58
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $2,508 high
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$527
• Net cashflow: $600

Break-even live

Break-even rent $1,749

Max offer price $199,900

Occupancy floor 71%

Sensitivity live

Price	-10% $738	-5% $669	+0% $600	+5% $531	+10% $462
Rent	-10% $402	-5% $501	+0% $600	+5% $699	+10% $798
Rate	-1.0pp $701	-0.5pp $651	base $600	+0.5pp $548	+1.0pp $495

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,508
Total (2 units)			$2,508

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $199,900 Active 91 DOM
2. 2026-06-18
   days on market $199,900 Active 88 DOM
3. 2026-06-17
   days on market $199,900 Active 87 DOM
4. 2026-06-16
   days on market $199,900 Active 86 DOM
5. 2026-06-15
   days on market $199,900 Active 85 DOM
6. 2026-06-13
   days on market $199,900 Active 83 DOM
7. 2026-06-09
   days on market $199,900 Active 79 DOM
8. 2026-06-08
   days on market $199,900 Active 78 DOM
9. 2026-06-08
   days on market $199,900 Active 77 DOM
10. 2026-06-05
    days on market $199,900 Active 74 DOM
11. 2026-06-03
    days on market $199,900 Active 73 DOM
12. 2026-06-02
    days on market $199,900 Active 72 DOM
13. 2026-06-01
    days on market $199,900 Active 71 DOM
14. 2026-05-31
    days on market $199,900 Active 70 DOM
15. 2026-03-22
    listed $199,900 Active 1056-char remark

    Show marketing remark (1056 chars)

    Introducing 1512 Palm, a partially renovated duplex in Old North St. Louis where opportunity meets transformation. Each side is a 3-story townhouse offering a rare opportunity with upside. One unit is nearly 80% complete with new floors, fresh paint, updated plumbing and electrical, while the other is a blank slate ready for your vision. Major updates include a new roof and modern systems, giving you a strong foundation to finish. The sale also includes the adjoining property at 1510 Palm, creating the rare chance to own two connected parcels with an option to seperate to three parcels (1510, 1512 and 1514 Palm!). Whether you plan to rent, rehab, or redevelop, this property showcases the potential of a neighborhood on the rise - supported by recent comparable sales in the area reaching into the low $320s, even with smaller layouts. Within walking distance to Crown Candy Kitchen and located at the core of the neighborhood, Old North St. Louis is experiencing a wave of restoration. Here's your chance to be a part of the momentum at 1512 Palm.

16. 2025-09-14
    listed $199,900 Active
17. 2025-08-30
    historical
18. 2020-06-01
    soldstatus $5,000
19. 1995-07-01
    soldstatus $80,000
20. 1990-01-24
    soldstatus $3,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,096
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,408
• − Management: −$2,408
• − Depreciation: −$5,815
• Taxable income: $4,270
• Est. tax owed @ 24.0%: −$1,025
• After-tax cash flow: $6,174/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
• City population: 283,259
• Population (ZIP): 9,082

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 (89%)
• Race & ethnicity: Black 89% White 8% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -1.75%
• Current HPI: 92.7423
• Rent YoY: —
• Metro: —
• 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

+6563.3% since first listed

6 events — show timeline

• 2026-03-22 Listed $199,900 MARIS as Distributed by MLS Grid
• 2025-09-14 Listed $199,900 MARIS as Distributed by MLS Grid
• 2025-08-30 Coming Soon — MARIS as Distributed by MLS Grid
• 2020-06-01 Sold (Public Records) $5,000 Public Records
• 1995-07-01 Sold (Public Records) $80,000 Public Records
• 1990-01-24 Sold (Public Records) $3,000 Public Records

Property tax history

+0.7%/yr

Latest (2024): $169 · +4.3% YoY. Source: county tax records.