221 North St Lot : 2 · St. Louis, MI 48880

$129,000

None bd · None ba · 1,100 sqft · MultiFamily · 354 Days on market

Built 1910 Good condition 7,840 sqft lot $117/sqft · 24% above area Est $104k · 24% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Schools +2.3/10.0
• 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 MLS

Back on the market due to buyer's inability to close! Great Cash-flowing Investment Opportunity in Downtown St. Louis! Check out this fully remodeled up/down duplex in the heart of downtown St. Louis! This well-maintained property features two spacious units, each with 1,100 square feet of living space. The bottom unit (month to month)offers 3 bedrooms and 1 bathroom and currently rents for $750/month. The top unit (lease until January) includes 4 bedrooms and 2 bathrooms, bringing in $850/month. Both tenants are on year-long leases and are current on rent. Both units were completely remodeled in 2022, so you’ll find updated finishes and systems throughout. This is a turnkey investment with steady cash flow from day one. Whether you're looking to add to your rental portfolio or start one, this property is a smart choice. Ask your agent about property management services, as they are an option for this property! Don't miss your chance to own a solid income-producing property in a great location!

Key facts

• Updated finishes
• Great location
• Turnkey investment

Tags

• FULLY REMODELED DUPLEX
• UPDATED FINISHES
• TURNKEY INVESTMENT
• GREAT LOCATION

What this means for you Summary

Snapshot

• This is a 1×3bd/1ba + 1×4bd/2ba units multifamily listed at $129k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $643 ($8k/yr) — positive. Per door: $322/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 5.5% 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 Public Schools (town): math 19% / reading 37% proficiency, ranked #397 of 540 in MI (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 28 active listings in the ZIP; 47 units permitted in Gratiot County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Gratiot County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 354 days — a 12% lower offer ($114k) 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 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 354 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 1910 — 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: 1.51% ✓
• Cap rate: 12.28%
• Cash-on-cash: 21.38%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (median comp): $103,762
• List price: $129,000
• Delta: 24.32%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Pine	0.31mi	—/—	1,200 (+9%)	22mo	$110,000	$92	52

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: 13.9%
• Equity multiple: 1.56×
• Total profit: $20,109
• Equity at exit: $19,234

10-year hold

• IRR: 22.7%
• Equity multiple: 2.95×
• Total profit: $70,403
• Equity at exit: $11,154

Cash invested: $36,120 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 48880

• Home prices YoY: -28.5%
• Active inventory: 28
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,943 medium
• Mortgage (P&I): −$676
• Tax est. 1.5%: −$161 /mo · $1,935/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $643

Break-even live

Break-even rent $1,128

Max offer price $129,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$936
1× unit	4	2	$1,007
Total (2 units)			$1,943

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $129,000 Active 354 DOM
2. 2026-06-18
   days on market $129,000 Active 353 DOM
3. 2026-06-17
   days on market $129,000 Active 352 DOM
4. 2026-06-16
   days on market $129,000 Active 351 DOM
5. 2026-06-15
   days on market $129,000 Active 350 DOM
6. 2026-06-14
   days on market $129,000 Active 348 DOM
7. 2026-06-13
   days on market $129,000 Active 347 DOM
8. 2026-06-10
   days on market $129,000 Active 345 DOM
9. 2026-06-09
   days on market $129,000 Active 344 DOM
10. 2026-06-08
    days on market $129,000 Active 343 DOM
11. 2026-06-07
    days on market $129,000 Active 342 DOM
12. 2026-06-03
    days on market $129,000 Active 338 DOM
13. 2026-06-02
    days on market $129,000 Active 337 DOM
14. 2026-06-01
    days on market $129,000 Active 336 DOM
15. 2026-05-31
    days on market $129,000 Active 335 DOM
16. 2026-05-30
    days on market $129,000 Active 334 DOM
17. 2025-12-04
    status Back on Market 1028-char remark

    Show marketing remark (1028 chars)

    Back on the market due to buyer's inability to close! Great Cash-flowing Investment Opportunity in Downtown St. Louis! Check out this fully remodeled up/down duplex in the heart of downtown St. Louis! This well-maintained property features two spacious units, each with 1,100 square feet of living space. The bottom unit (month to month)offers 3 bedrooms and 1 bathroom and currently rents for $750/month. The top unit (lease until January) includes 4 bedrooms and 2 bathrooms, bringing in $850/month. Both tenants are on year-long leases and are current on rent. Both units were completely remodeled in 2022, so you’ll find updated finishes and systems throughout. This is a turnkey investment with steady cash flow from day one. Whether you're looking to add to your rental portfolio or start one, this property is a smart choice. Ask your agent about property management services, as they are an option for this property! Don't miss your chance to own a solid income-producing property in a great location!

18. 2025-10-13
    historical Keep Showing-Contgcy Appl 1028-char remark

    Show marketing remark (1028 chars)

    Back on the market due to buyer's inability to close! Great Cash-flowing Investment Opportunity in Downtown St. Louis! Check out this fully remodeled up/down duplex in the heart of downtown St. Louis! This well-maintained property features two spacious units, each with 1,100 square feet of living space. The bottom unit (month to month)offers 3 bedrooms and 1 bathroom and currently rents for $750/month. The top unit (lease until January) includes 4 bedrooms and 2 bathrooms, bringing in $850/month. Both tenants are on year-long leases and are current on rent. Both units were completely remodeled in 2022, so you’ll find updated finishes and systems throughout. This is a turnkey investment with steady cash flow from day one. Whether you're looking to add to your rental portfolio or start one, this property is a smart choice. Ask your agent about property management services, as they are an option for this property! Don't miss your chance to own a solid income-producing property in a great location!

19. 2025-06-30
    listed $129,000 Active 1028-char remark

    Show marketing remark (1028 chars)

    Back on the market due to buyer's inability to close! Great Cash-flowing Investment Opportunity in Downtown St. Louis! Check out this fully remodeled up/down duplex in the heart of downtown St. Louis! This well-maintained property features two spacious units, each with 1,100 square feet of living space. The bottom unit (month to month)offers 3 bedrooms and 1 bathroom and currently rents for $750/month. The top unit (lease until January) includes 4 bedrooms and 2 bathrooms, bringing in $850/month. Both tenants are on year-long leases and are current on rent. Both units were completely remodeled in 2022, so you’ll find updated finishes and systems throughout. This is a turnkey investment with steady cash flow from day one. Whether you're looking to add to your rental portfolio or start one, this property is a smart choice. Ask your agent about property management services, as they are an option for this property! Don't miss your chance to own a solid income-producing property in a great location!

ⓘ 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 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,316
• − Mortgage interest: −$7,226
• − Property taxes: −$1,935
• − Insurance: −$645
• − Repairs & maintenance: −$1,865
• − Management: −$1,865
• − Depreciation: −$3,753
• Taxable income: $6,027
• Est. tax owed @ 24.0%: −$1,446
• After-tax cash flow: $6,275/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This fully remodeled, two-unit duplex in St. Louis is in good condition with no major repairs needed. A fresh coat of paint and a deep clean would significantly enhance its curb appeal and rental value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Deep clean carpets — Improves living conditions and rental appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Deep clean carpets — Improves living conditions and rental appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: St. Louis Public Schools
• NCES district ID: 2632880
• Math proficiency: 19% ▼ -4.00%
• Reading proficiency: 37% ▼ -7.00%
• Median HH income: $38,717
• Composite: 23.4/100
• National rank: #7899
• State rank: #397 of 540 in MI

Livability — St. Louis

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Louis, MI
• Population (ZIP): 9,952

Population outlook (Gratiot County) Hauer SSP2

• Today (2025): 39,991 people
• By 2030: 38,944 · -2.6%
• By 2040: 36,694 · -8.2%
• By 2050: 34,314 · -14.2%
• By 2075: 27,693 · -30.8%
• By 2100: 20,809 · -48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 19% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Romanian 2% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Gratiot

• 2024 margin: Solid R (+31.3) · D 33.7% · R 65.0% · Other 1.4%
• 2008→2024 swing: -35.7pp toward R · 2008: 4.4pp · 2024: -31.3pp
• All cycles: 2024: R+31.3 2020: R+28.3 2016: R+25.6 2012: R+3.9 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.19%
• Current HPI: 206.4534
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

3 events — show timeline

• 2025-12-04 Relisted — MiRealSource-MiMLS
• 2025-10-13 Contingent — MiRealSource-MiMLS
• 2025-06-30 Listed $129,000 MiRealSource-MiMLS