3511 Alberta St · St. Louis, MO 63118

$205,000

6 bd · 2.0 ba · 2,714 sqft · MultiFamily public records · 37 Days on market

Built 1911 3,249 sqft lot $76/sqft · 27% above area Est $161k · 27% over

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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
• 1% rule +7.5/10.0
• Rent growth +3.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0
• 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

Discover this updated two-family flat in the heart of Dutchtown, offering an excellent opportunity for both homeowners and investors. One unit is currently rented, while the other is vacant and move-in ready—ideal for house hacking or adding immediate income to your portfolio. Each spacious unit features 3 bedrooms plus a bonus room, providing flexibility for an office, nursery, studio, or extra storage. The bright, refreshed kitchens showcase granite countertops, white shaker cabinetry, and classic white subway tile backsplashes, paired with warm hardwood floors and tall ceilings that highlight the home’s historic charm. Generous living rooms, updated bathrooms, and clean, func

Key facts

• 3,249 sq ft lot
• 2 garage spots
• Built 1911

Property features AI

Finance

• Other: Seller may consider concessions; Unit count: 2 (two units)

Exterior

• Parking: 2-car garage
• Utilities: Public water
• Home design: Residential income property (2-4 units); Total living area approx. 2714
• Construction: Brick construction
• Exterior features: Public water service; Located in the Dutchtown neighborhood

Interior

• Bedrooms: Two separate 3-bedroom units
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Unfinished walk-out basement; Decorative fireplaces (2 total)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $205k.

Deal economics

• At list price, monthly cash flow is $784 ($9k/yr) — positive. Per door: $392/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $205k).
• Recommended offer: $199k (3.0% 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 $2,553/mo this rent would consume 53% 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 $1k of loan paydown is wiped out by about $6k 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 $57k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($199k) 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.

Risks & watch-outs

• Watch-outs: built in 1911 — 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 $198,850 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% 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 1911 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.25% ✓
• Cap rate: 10.88%
• Cash-on-cash: 16.39%
• DSCR: 1.73
• GRM: 6.7

CMA / ARV

• ARV (median comp): $160,945
• List price: $205,000
• Delta: 27.37%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3455 Osage St	0.09mi	6/2.0	2,640 (-3%)	12mo	$195,000	$74	81
3222 Chippewa St	0.27mi	6/3.0	2,552 (-6%)	13mo	$139,900	$55	62
3550 Giles Ave	0.48mi	5/2.0 (-1)	2,652 (-2%)	8mo	$249,900	$94	62
3104 Keokuk St	0.39mi	6/2.0	2,542 (-6%)	13mo	$314,900	$124	60
3457 Miami St	0.42mi	6/4.0	2,788 (+3%)	16mo	$379,000	$136	55
4234 Nebraska Ave	0.69mi	6/3.0	2,808 (+4%)	6mo	$170,000	$61	53
3649 Nebraska Ave	0.60mi	6/2.0	2,542 (-6%)	10mo	$230,000	$90	53
3544 Giles Ave	0.49mi	5/2.0 (-1)	2,506 (-8%)	10mo	$257,900	$103	51
4111 Minnesota Ave	0.46mi	6/2.0	2,358 (-13%)	15mo	$249,900	$106	44
3457 S Grand Blvd	0.59mi	6/4.0	2,652 (-2%)	20mo	$54,900	$21	44
4439 Virginia Ave	0.71mi	6/4.0	2,654 (-2%)	17mo	$298,500	$112	41

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 · 4.89% rent growth · sell at horizon

5-year hold

• IRR: 9.4%
• Equity multiple: 1.38×
• Total profit: $21,580
• Equity at exit: $30,566

10-year hold

• IRR: 19.9%
• Equity multiple: 2.81×
• Total profit: $103,875
• Equity at exit: $17,725

Cash invested: $57,400 (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: 13.4×

Monthly cashflow live

• Estimated rent: $2,553 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$73 /mo · $870/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $784

Break-even live

Break-even rent $1,561

Max offer price $205,000

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,552
Total (2 units)			$2,553

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $205,000 Active 37 DOM
2. 2026-06-17
   days on market $205,000 Active 36 DOM
3. 2026-06-16
   days on market $205,000 Active 35 DOM
4. 2026-06-15
   days on market $205,000 Active 34 DOM
5. 2026-06-13
   days on market $205,000 Active 32 DOM
6. 2026-06-09
   days on market $205,000 Active 28 DOM
7. 2026-06-08
   days on market $205,000 Active 27 DOM
8. 2026-06-07
   days on market $205,000 Active 26 DOM
9. 2026-06-05
   days on market $205,000 Active 23 DOM
10. 2026-06-03
    days on market $205,000 Active 22 DOM
11. 2026-06-02
    days on market $205,000 Active 21 DOM
12. 2026-06-01
    days on market $205,000 Active 20 DOM
13. 2026-05-31
    days on market $205,000 Active 19 DOM
14. 2026-05-13
    listed $209,000 Active 1270-char remark
15. 2026-05-11
    historical $209,000 1270-char remark
16. 2025-12-11
    listed $210,000 Active
17. 2016-08-18
    price $32,000
18. 1994-03-30
    soldstatus
19. 1990-05-16
    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: $870 · $73/mo
• Projected year-2 tax: $1,988 · $166/mo
• Expected delta: +$1,118/yr (+$93/mo · 128.5%)

ⓘ 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: $30,636
• − Mortgage interest: −$11,483
• − Property taxes: −$870
• − Insurance: −$1,025
• − Repairs & maintenance: −$2,451
• − Management: −$2,451
• − Depreciation: −$5,964
• Taxable income: $6,392
• Est. tax owed @ 24.0%: −$1,534
• After-tax cash flow: $7,873/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

+540.6% since first listed

7 events — show timeline

• 2026-05-26 Price Changed $205,000 MARIS as Distributed by MLS Grid
• 2026-05-13 Listed $209,000 MARIS as Distributed by MLS Grid
• 2026-05-11 Coming Soon $209,000 MARIS as Distributed by MLS Grid
• 2025-12-11 Listed $210,000 MARIS as Distributed by MLS Grid
• 2016-08-18 Price Changed $32,000 MARIS as Distributed by MLS Grid
• 1994-03-30 Sold (Public Records) — Public Records
• 1990-05-16 Sold (Public Records) — Public Records

Property tax history

+6.3%/yr

Latest (2023): $870 · +9.3% YoY. Source: county tax records.