4708 Mcmillan Ave · St. Louis, MO 63108

$29,900

4 bd · 2.0 ba · 2,464 sqft · MultiFamily public records · 147 Days on market

Built 1903 3,911 sqft lot $12/sqft · 74% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.3/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Unlock the potential of this two-story duplex in the historic Lewis Place neighborhood of St. Louis City. Priced at $29,900, this property is ideal for investors or renovators seeking a project. The home offers classic architecture and plenty of space to create two desirable rental units or a stunning owner-occupied residence. Located just minutes from the Central West End, you’ll enjoy easy access to world-class hospitals, including Barnes-Jewish and St. Louis Children’s Hospital, as well as nearby parks and green spaces for recreation. This location combines historic charm with convenience to major amenities. The property is being sold AS-IS, and the seller will make no repairs or provide any inspections prior to closing. All inspections are for the buyer’s informational purposes only. Act quickly for this incredible opportunity to restore a St. Louis classic. Seller is a licensed real estate agent.

Key facts

• Two story duplex
• 3,911 sq ft lot
• Built 1903

Tags

• TWO STORY DUPLEX
• TWO DESIRABLE RENTAL UNITS
• OWNER OCCUPIED RESIDENCE
• NEARBY PARKS AND GREEN SPACES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $30k.

Deal economics

• At list price, monthly cash flow is $2k ($30k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $30k).
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.
• Cap rate 105.3% 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.
• Market conditions: Rents rising (+3.1%/yr); 153 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• At $3,356/mo this rent would consume 73% of the median local household income ($55k/yr) (locally 2180% 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 $207 of loan paydown is wiped out by about $897 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 + 3.1% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: built in 1903 — 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 $26,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% 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 1903 — 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. 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?
8. 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.
9. 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.
10. 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: 11.22% ✓
• Cap rate: 105.28%
• Cash-on-cash: 353.54%
• DSCR: 16.73
• GRM: 0.7

CMA / ARV

• ARV (median comp): $114,776
• List price: $29,900
• Delta: -73.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.1% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 19.23×
• Total profit: $152,625
• Equity at exit: $4,458

10-year hold

• IRR: —
• Equity multiple: 41.22×
• Total profit: $336,729
• Equity at exit: $2,585

Cash invested: $8,372 (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 63108

• Home prices YoY: -33.1%
• Rents YoY: 3.1%
• Active inventory: 153
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $3,356 high
• Mortgage (P&I): −$157
• Tax from tax record: −$15 /mo · $185/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$705
• Net cashflow: $2,467

Break-even live

Break-even rent $234

Max offer price $29,900

Occupancy floor 22%

Sensitivity live

Price	-10% $2,483	-5% $2,475	+0% $2,467	+5% $2,458	+10% $2,450
Rent	-10% $2,201	-5% $2,334	+0% $2,467	+5% $2,599	+10% $2,732
Rate	-1.0pp $2,482	-0.5pp $2,474	base $2,467	+0.5pp $2,459	+1.0pp $2,451

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,356
Total (2 units)			$3,356

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5096 Minerva Ave Unit C St. Louis, MO	3.0	1.0	1800	$1,395	$0.78	44d	1	0.77mi
100 N Kingshighway Blvd Saint Louis, MO	3.0	1.0–2.0	1211	$7,099	$5.86	44d	84	0.93mi
100 N Kingshighway Blvd Saint Louis, MO	3.0	1.0–2.0	1171	$6,995	$5.97	2d	80	0.93mi
404 N Sarah St Saint Louis, MO	3.0	2.5	1772	$2,600	$1.47	44d	1	1.01mi
5345 Wells Ave Saint Louis, MO	3.0	1.0	2254	$1,295	$0.57	44d	1	1.14mi
275 Union Blvd St. Louis, MO	3.0	1.0–3.0	1317	$4,686	$3.56	3d	58	1.16mi
4247 Maffitt Ave St. Louis, MO	3.0	1.5	1700	$1,000	$0.59	5d	1	1.16mi
4133 Laclede Ave Unit 1 St. Louis, MO	3.0	1.5	2775	$1,999	$0.72	44d	1	1.19mi
3717-3721 Westminster Pl St. Louis, MO	3.0	1.0–3.0	1343	$2,735	$2.04	17d	4	1.43mi
3701 Lindell Blvd Saint Louis, MO	3.0	1.0–3.0	1073	$2,500	$2.33	2d	128	1.47mi
3701 Lindell Blvd Saint Louis, MO	3.0	1.0–3.0	1073	$2,500	$2.33	17d	81	1.47mi

Listing history 18 events

1. 2026-06-21
   days on market $29,900 Active 147 DOM
2. 2026-06-18
   days on market $29,900 Active 144 DOM
3. 2026-06-17
   days on market $29,900 Active 143 DOM
4. 2026-06-16
   days on market $29,900 Active 142 DOM
5. 2026-06-15
   days on market $29,900 Active 141 DOM
6. 2026-06-13
   days on market $29,900 Active 139 DOM
7. 2026-05-31
   days on market $29,900 Active 137 DOM
8. 2026-05-15
   status Active 932-char remark

   Show marketing remark (932 chars)

   Unlock the potential of this two-story duplex in the historic Lewis Place neighborhood of St. Louis City. Priced at $29,900, this property is ideal for investors or renovators seeking a project. The home offers classic architecture and plenty of space to create two desirable rental units or a stunning owner-occupied residence. Located just minutes from the Central West End, you’ll enjoy easy access to world-class hospitals, including Barnes-Jewish and St. Louis Children’s Hospital, as well as nearby parks and green spaces for recreation. This location combines historic charm with convenience to major amenities. The property is being sold AS-IS, and the seller will make no repairs or provide any inspections prior to closing. All inspections are for the buyer’s informational purposes only. Act quickly for this incredible opportunity to restore a St. Louis classic. Seller is a licensed real estate agent.

9. 2026-04-10
   status Pending 932-char remark

   Show marketing remark (932 chars)

   Unlock the potential of this two-story duplex in the historic Lewis Place neighborhood of St. Louis City. Priced at $29,900, this property is ideal for investors or renovators seeking a project. The home offers classic architecture and plenty of space to create two desirable rental units or a stunning owner-occupied residence. Located just minutes from the Central West End, you’ll enjoy easy access to world-class hospitals, including Barnes-Jewish and St. Louis Children’s Hospital, as well as nearby parks and green spaces for recreation. This location combines historic charm with convenience to major amenities. The property is being sold AS-IS, and the seller will make no repairs or provide any inspections prior to closing. All inspections are for the buyer’s informational purposes only. Act quickly for this incredible opportunity to restore a St. Louis classic. Seller is a licensed real estate agent.

10. 2026-03-04
    status Active 932-char remark

    Show marketing remark (932 chars)

    Unlock the potential of this two-story duplex in the historic Lewis Place neighborhood of St. Louis City. Priced at $29,900, this property is ideal for investors or renovators seeking a project. The home offers classic architecture and plenty of space to create two desirable rental units or a stunning owner-occupied residence. Located just minutes from the Central West End, you’ll enjoy easy access to world-class hospitals, including Barnes-Jewish and St. Louis Children’s Hospital, as well as nearby parks and green spaces for recreation. This location combines historic charm with convenience to major amenities. The property is being sold AS-IS, and the seller will make no repairs or provide any inspections prior to closing. All inspections are for the buyer’s informational purposes only. Act quickly for this incredible opportunity to restore a St. Louis classic. Seller is a licensed real estate agent.

11. 2025-12-05
    listed $29,900 Active 932-char remark

    Show marketing remark (932 chars)

    Unlock the potential of this two-story duplex in the historic Lewis Place neighborhood of St. Louis City. Priced at $29,900, this property is ideal for investors or renovators seeking a project. The home offers classic architecture and plenty of space to create two desirable rental units or a stunning owner-occupied residence. Located just minutes from the Central West End, you’ll enjoy easy access to world-class hospitals, including Barnes-Jewish and St. Louis Children’s Hospital, as well as nearby parks and green spaces for recreation. This location combines historic charm with convenience to major amenities. The property is being sold AS-IS, and the seller will make no repairs or provide any inspections prior to closing. All inspections are for the buyer’s informational purposes only. Act quickly for this incredible opportunity to restore a St. Louis classic. Seller is a licensed real estate agent.

12. 2020-06-10
    soldstatus
13. 2020-05-26
    soldstatus Closed 272-char remark

    Show marketing remark (272 chars)

    Opportunity knocking! Large, all brick duplex in the sought after 63108 zip code. Home boasts large rooms, a full basement, and off street parking. Near popular shopping, night life, major highway access, and public transportation. Don't wait on this one, call today!

14. 2020-05-06
    status Pending 272-char remark

    Show marketing remark (272 chars)

    Opportunity knocking! Large, all brick duplex in the sought after 63108 zip code. Home boasts large rooms, a full basement, and off street parking. Near popular shopping, night life, major highway access, and public transportation. Don't wait on this one, call today!

15. 2020-04-27
    status Active 272-char remark

    Show marketing remark (272 chars)

    Opportunity knocking! Large, all brick duplex in the sought after 63108 zip code. Home boasts large rooms, a full basement, and off street parking. Near popular shopping, night life, major highway access, and public transportation. Don't wait on this one, call today!

16. 2020-04-16
    status Pending 272-char remark

    Show marketing remark (272 chars)

    Opportunity knocking! Large, all brick duplex in the sought after 63108 zip code. Home boasts large rooms, a full basement, and off street parking. Near popular shopping, night life, major highway access, and public transportation. Don't wait on this one, call today!

17. 2020-04-09
    listed $13,000 Active 272-char remark

    Show marketing remark (272 chars)

    Opportunity knocking! Large, all brick duplex in the sought after 63108 zip code. Home boasts large rooms, a full basement, and off street parking. Near popular shopping, night life, major highway access, and public transportation. Don't wait on this one, call today!

18. 1997-02-01
    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: $185 · $15/mo
• Projected year-2 tax: $290 · $24/mo
• Expected delta: +$105/yr (+$9/mo · 56.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°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 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,272
• − Mortgage interest: −$1,675
• − Property taxes: −$185
• − Insurance: −$150
• − Repairs & maintenance: −$3,222
• − Management: −$3,222
• − Depreciation: −$870
• Taxable income: $30,949
• Est. tax owed @ 24.0%: −$7,428
• After-tax cash flow: $22,171/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): 21,336
• Household income: $55,147
• Rent vs Own: 73.3% rent · 26.7% own
• Severe rent burden: 2180.0

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 0.62)
• Race & ethnicity: White 54% Black 26% Asian 13% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Lithuanian 4% Romanian 3% Iranian 2%
• Foreign-born: 13% · China, Canada, South Korea
• Languages at home: 85% English-only · Chinese 3% Other Asian/Pacific 3% Spanish 3%

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: ▼ -111.22%
• Current HPI: 225.1081
• Rent YoY: ▲ 3.10%
• 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

+130.0% since first listed

11 events — show timeline

• 2026-05-15 Relisted — MARIS as Distributed by MLS Grid
• 2026-04-10 Pending — MARIS as Distributed by MLS Grid
• 2026-03-04 Relisted — MARIS as Distributed by MLS Grid
• 2025-12-05 Listed $29,900 MARIS as Distributed by MLS Grid
• 2020-06-10 Sold (Public Records) — Public Records
• 2020-05-26 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2020-05-06 Pending — MARIS as Distributed by MLS Grid
• 2020-04-27 Relisted — MARIS as Distributed by MLS Grid
• 2020-04-16 Pending — MARIS as Distributed by MLS Grid
• 2020-04-09 Listed $13,000 MARIS as Distributed by MLS Grid
• 1997-02-01 Sold (Public Records) — Public Records

Property tax history

+0.0%/yr

Latest (2024): $185 · +4.4% YoY. Source: county tax records.