1520 Washington Ave #202 · St. Louis, MO 63103

$115,000

2 bd · 2.0 ba · 1,221 sqft · Condo public records · 37 Days on market

Built 1906 $94/sqft · 14% below area Est $133k · 14% under $220/mo HOA · 15% of rent ↓ 17% since listing

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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 +21.6/30.0
• ARV discount +13.7/15.0
• 1% rule +8.0/10.0
• DSCR +6.9/10.0
• Appreciation +5.3/10.0
• Rent growth +4.8/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

Now is your opportunity to enjoy urban living in this 2 bed, 2 bath loft in the historic Ely Walker building! Spacious 1,221 SF unit has original wood floors, exposed brick and soaring 14’ ceilings. Two full baths (one en-suite with a deep soaking tub) and a private in unit laundry room offer all the convenience you are looking for. The open kitchen offers granite counters with breakfast bar, 42’ cabinets and Stainless Steel appliances - including a beverage refrigerator. All appliances, including washer and dryer, are to remain with unit. One covered parking space and storage included. Possible second parking space is negotiable. Make sure you see all the included amenities this building has to offer! Outstanding roof top deck with grills and firepit, a top notch work-out room and a community room complete with a full kitchen/bar – perfect for all of your larger gatherings! WE HAVE LENDERS FOR SPECIAL FINANCING!!

Key facts

• $220 HOA
• Garage
• Built 1906

Property features AI

Finance

• Other: Living area reported as 1,221 (assessor); Basement present (unfinished)
• Financial info: Lease not considered; No second mortgage reported
• HOA & community: HOA: Ely Walker Lofts; Monthly association fee ($220) includes water, sewer, and trash; Fitness center in the community; 124 units in the community

Exterior

• Parking: Secured parking; 1-car garage (secured)
• Security: Building security; Fire escape; Key card entry; Secured garage/parking
• Utilities: Public water; Public sewer; Electricity connected (220 volts); Sewer connected; Water connected
• Home design: Attached condominium; Residential property; Multi/split levels; Private ownership
• Construction: Brick construction; Mixed roof
• Exterior features: Courtyard; Uncovered courtyard; Gas grill; City lot; Near public transit; Views; Asphalt road; City street frontage

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Free‑standing electric range; Free‑standing refrigerator; Granite counters; Kitchen island
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Wood floors
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Electric heating with forced air; Central air conditioning (electric)
• Interior features: Ceiling fans; Elevator; Granite counters; High ceilings; Kitchen island
• Laundry & utility: In-unit laundry (washer and dryer) located on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $175 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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.
• Zoned schools: Jefferson Elem. (math 5% / reading 5%, grade F, #1,072 of 1,115 statewide, top 98%, 127 students, 98% FRL); Vashon High (math 2% / reading 2%, grade F, #520 of 521 statewide, top 100%, 568 students, 100% 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 (+9.2%/yr); 70 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• This rent runs 44% of the median local income ($41k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $2k of equity ($795 loan paydown + $764 appreciation (0.7% local appreciation)).
• 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 (0.7% appreciation + 8.0% rent growth), your $32k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y 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 1906 — 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 $111,550 (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. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 1.30% ✓
• Cap rate: 8.12%
• Cash-on-cash: 6.54%
• DSCR: 1.29
• GRM: 6.4

CMA / ARV

• ARV (median comp): $133,451
• List price: $115,000
• Delta: -13.83%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

0.66% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 11.6%
• Equity multiple: 1.61×
• Total profit: $19,510
• Equity at exit: $37,264

10-year hold

• IRR: 19.5%
• Equity multiple: 3.71×
• Total profit: $87,321
• Equity at exit: $48,012

Cash invested: $32,200 (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 63103

• Home prices YoY: 0.6%
• Rents YoY: 9.2%
• Active inventory: 70
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,497 high
• Mortgage (P&I): −$603
• Tax from tax record: −$136 /mo · $1,635/yr
• Insurance: −$48
• HOA: −$220
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $175

Break-even live

Break-even rent $1,275

Max offer price $115,000

Occupancy floor 83%

Sensitivity live

Price	-10% $240	-5% $208	+0% $175	+5% $143	+10% $110
Rent	-10% $57	-5% $116	+0% $175	+5% $235	+10% $294
Rate	-1.0pp $233	-0.5pp $205	base $175	+0.5pp $146	+1.0pp $115

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1531 Washington Ave St. Louis, MO	1.0–2.0	1.0	656	$1,609	$2.45	2d	5	0.04mi
1627 Washington Ave Apt 503 St. Louis, MO	2.0	2.0	1400	$1,750	$1.25	44d	1	0.05mi
1627 Washington Ave Unit 202 St. Louis, MO	2.0	1.0	1450	$1,625	$1.12	44d	1	0.05mi
1635 Washington Ave Saint Louis, MO	1.0–2.0	1.0	1135	$1,495	$1.32	4d	4	0.06mi
1501 Locust St Saint Louis, MO	1.0	1.0	1002	$1,200	$1.20	44d	1	0.09mi
1709 Washington Ave St. Louis, MO	1.0	1.5	1200	$1,200	$1.00	17d	1	0.10mi
1706 Washington Ave St. Louis, MO	1.0–2.0	1.0–2.0	997	$1,761	$1.77	3d	10	0.11mi
1800 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	927	$1,645	$1.77	44d	13	0.18mi
1307 Washington Ave St. Louis, MO	1.0–2.0	1.0	1261	$1,485	$1.18	8d	17	0.19mi
1717 Olive St Saint Louis, MO	2.0	1.0–2.0	957	$2,982	$3.12	2d	64	0.20mi
1815 Locust St Saint Louis, MO	1.0–2.0	1.0–2.0	983	$1,543	$1.57	44d	7	0.22mi
1405 Pine St St. Louis, MO	2.0	2.0	1020	$1,240	$1.22	4d	1	0.23mi
1901 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	1076	$1,500	$1.39	5d	38	0.24mi
110 N 17th St Saint Louis, MO	2.0	1.0	653	$1,095	$1.68	8d	1	0.24mi
1300 Convention Plz Saint Louis, MO	2.0	1.0	877	$1,350	$1.54	44d	1	0.25mi
1209 Washington Ave Saint Louis, MO	1.0–2.0	1.5–2.0	1483	$2,190	$1.48	2d	22	0.27mi
1900 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	960	$1,650	$1.72	3d	12	0.27mi
1226 Olive St St. Louis, MO	1.0–2.0	1.0–2.0	1157	$1,700	$1.47	3d	2	0.29mi
1133 Washington Ave St. Louis, MO	2.0	1.0–2.0	637	$1,292	$2.03	44d	1	0.32mi
300 N Tucker Blvd St. Louis, MO	1.0–2.0	1.0–2.0	1013	$1,875	$1.85	2d	10	0.34mi
300 N Tucker Blvd Apt 406 St. Louis, MO	1.0	1.0	834	$1,250	$1.50	15d	1	0.35mi
1110 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	1006	$1,426	$1.42	3d	19	0.37mi
2034 Lucas Ave St. Louis, MO	1.0–2.0	1.0	1080	$1,525	$1.41	44d	1	0.39mi
715 N 21st St St. Louis, MO	1.0–2.0	1.0–2.0	900	$1,355	$1.51	24d	1	0.42mi
1000 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	959	$1,950	$2.03	2d	24	0.43mi
1014 Locust St Saint Louis, MO	1.0–2.0	1.0–2.0	1110	$2,070	$1.86	2d	2	0.43mi
1006 Olive St Unit 702 St. Louis, MO	2.0	2.0	1400	$1,600	$1.14	44d	1	0.46mi
1115 Carr St St. Louis, MO	1.0–2.0	1.0	747	$1,123	$1.50	5d	13	0.49mi
917 Locust St St. Louis, MO	1.0	1.0	683	$1,305	$1.91	17d	3	0.49mi
2200 Locust St Saint Louis, MO	1.0–2.0	1.0–1.5	862	$1,695	$1.97	4d	6	0.49mi
2206 Lucas Ave St. Louis, MO	1.0–2.0	1.0–2.0	1047	$1,900	$1.81	2d	20	0.50mi
2217 Locust St Saint Louis, MO	2.0	2.0	830	$1,475	$1.78	44d	1	0.51mi
416 N 23rd St St. Louis, MO	1.0–2.0	1.0	780	$1,775	$2.28	5d	23	0.54mi
1111 Biddle St Saint Louis, MO	2.0	1.0	1200	$1,295	$1.08	44d	1	0.55mi
206 N 9th St Unit 712 St. Louis, MO	1.0	1.0	783	$925	$1.18	8d	1	0.56mi
206 N 9th St Unit 916 St. Louis, MO	2.0	2.0	914	$1,250	$1.37	24d	1	0.56mi
206 N 9th St Unit 1306 St. Louis, MO	2.0	2.0	897	$1,250	$1.39	44d	1	0.56mi
206 N 9th St Unit 1207 St. Louis, MO	2.0	1.0	843	$1,100	$1.30	44d	1	0.56mi
206 N 9th St Unit 509 St. Louis, MO	1.0	1.0	701	$925	$1.32	44d	1	0.56mi
206 N 9th St Unit 307 St. Louis, MO	2.0	1.0	897	$1,100	$1.23	5d	1	0.56mi

HOA detail condo

• Monthly dues: $220 · $2,640/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-21
   days on market $115,000 Active 37 DOM
2. 2026-06-18
   days on market $115,000 Active 34 DOM
3. 2026-06-17
   days on market $115,000 Active 33 DOM
4. 2026-06-16
   days on market $115,000 Active 32 DOM
5. 2026-06-15
   days on market $115,000 Active 31 DOM
6. 2026-06-13
   days on market $115,000 Active 29 DOM
7. 2026-06-09
   days on market $115,000 Active 25 DOM
8. 2026-06-08
   days on market $115,000 Active 24 DOM
9. 2026-06-07
   days on market $115,000 Active 23 DOM
10. 2026-06-05
    days on market $115,000 Active 20 DOM
11. 2026-06-03
    days on market $115,000 Active 19 DOM
12. 2026-06-02
    days on market $115,000 Active 18 DOM
13. 2026-06-01
    days on market $115,000 Active 17 DOM
14. 2026-05-31
    days on market $115,000 Active 16 DOM
15. 2026-05-15
    listed $115,000 Active 1304-char remark
16. 2026-05-12
    historical $115,000 1304-char remark
17. 2025-12-27
    price $119,900
18. 2025-11-03
    listed $135,000 Active
19. 2025-11-03
    historical
20. 2021-11-04
    soldstatus $135,000
21. 2021-10-26
    soldstatus Closed

    Show marketing remark (956 chars)

    Now is your opportunity to enjoy urban living in this 2 bed, 2 bath loft in the historic Ely Walker building! Spacious 1,221 SF unit has original wood floors, exposed brick and soaring 14’ ceilings. Two full baths (one en-suite with a deep soaking tub) and a private in unit laundry room offer all the convenience you are looking for. The open kitchen offers granite counters with breakfast bar, 42’ cabinets and Stainless Steel appliances - including a beverage refrigerator. All appliances, including washer and dryer, are to remain with unit. One covered parking space and storage included. Possible second parking space is negotiable. Make sure you see all the included amenities this building has to offer! Outstanding roof top deck with grills and firepit, a top notch work-out room and a community room complete with a full kitchen/bar – perfect for all of your larger gatherings! WE HAVE LENDERS FOR SPECIAL FINANCING!!

22. 2021-10-07
    status Pending

    Show marketing remark (956 chars)

    Now is your opportunity to enjoy urban living in this 2 bed, 2 bath loft in the historic Ely Walker building! Spacious 1,221 SF unit has original wood floors, exposed brick and soaring 14’ ceilings. Two full baths (one en-suite with a deep soaking tub) and a private in unit laundry room offer all the convenience you are looking for. The open kitchen offers granite counters with breakfast bar, 42’ cabinets and Stainless Steel appliances - including a beverage refrigerator. All appliances, including washer and dryer, are to remain with unit. One covered parking space and storage included. Possible second parking space is negotiable. Make sure you see all the included amenities this building has to offer! Outstanding roof top deck with grills and firepit, a top notch work-out room and a community room complete with a full kitchen/bar – perfect for all of your larger gatherings! WE HAVE LENDERS FOR SPECIAL FINANCING!!

23. 2021-09-22
    listed $139,900 Active

    Show marketing remark (956 chars)

    Now is your opportunity to enjoy urban living in this 2 bed, 2 bath loft in the historic Ely Walker building! Spacious 1,221 SF unit has original wood floors, exposed brick and soaring 14’ ceilings. Two full baths (one en-suite with a deep soaking tub) and a private in unit laundry room offer all the convenience you are looking for. The open kitchen offers granite counters with breakfast bar, 42’ cabinets and Stainless Steel appliances - including a beverage refrigerator. All appliances, including washer and dryer, are to remain with unit. One covered parking space and storage included. Possible second parking space is negotiable. Make sure you see all the included amenities this building has to offer! Outstanding roof top deck with grills and firepit, a top notch work-out room and a community room complete with a full kitchen/bar – perfect for all of your larger gatherings! WE HAVE LENDERS FOR SPECIAL FINANCING!!

24. 2018-05-10
    soldstatus $123,000
25. 2018-04-23
    soldstatus Closed
26. 2018-03-06
    status Pending
27. 2018-03-02
    price $124,900
28. 2018-02-21
    status Active
29. 2018-02-14
    status Pending
30. 2018-02-09
    soldstatus $132,400
31. 2018-02-03
    price $130,900
32. 2018-01-18
    price $134,900
33. 2017-12-21
    listed $137,900 Active

ⓘ 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: $1,635 · $136/mo
• Projected year-2 tax: $1,635 · $136/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 6/10 Major 7 d/yr ≥109°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: $17,964
• − Mortgage interest: −$6,442
• − Property taxes: −$1,635
• − Insurance: −$575
• − Repairs & maintenance: −$1,437
• − Management: −$1,437
• − HOA: −$2,640
• − Depreciation: −$3,345
• Taxable income: $452
• Est. tax owed @ 24.0%: −$109
• After-tax cash flow: $1,996/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): 8,778
• Household income: $40,943
• Rent vs Own: 82.5% rent · 17.5% own
• Severe rent burden: 960.0

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 0.65)
• Race & ethnicity: White 43% Black 40% Asian 8% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 87% English-only · Other Indo-European 4% Spanish 3% Arabic 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: ▲ 0.66%
• Current HPI: 116.4477
• Rent YoY: ▲ 9.20%
• 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

-16.6% since first listed

19 events — show timeline

• 2026-05-15 Listed $115,000 MARIS as Distributed by MLS Grid
• 2026-05-12 Coming Soon $115,000 MARIS as Distributed by MLS Grid
• 2025-12-27 Price Changed $119,900 MARIS as Distributed by MLS Grid
• 2025-11-03 Listed $135,000 MARIS as Distributed by MLS Grid
• 2025-11-03 Coming Soon — MARIS as Distributed by MLS Grid
• 2021-11-04 Sold (Public Records) $135,000 Public Records
• 2021-10-26 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2021-10-07 Pending — MARIS as Distributed by MLS Grid
• 2021-09-22 Listed $139,900 MARIS as Distributed by MLS Grid
• 2018-05-10 Sold (Public Records) $123,000 Public Records
• 2018-04-23 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2018-03-06 Pending — MARIS as Distributed by MLS Grid
• 2018-03-02 Price Changed $124,900 MARIS as Distributed by MLS Grid
• 2018-02-21 Relisted — MARIS as Distributed by MLS Grid
• 2018-02-14 Pending — MARIS as Distributed by MLS Grid
• 2018-02-09 Sold (Public Records) $132,400 Public Records
• 2018-02-03 Price Changed $130,900 MARIS as Distributed by MLS Grid
• 2018-01-18 Price Changed $134,900 MARIS as Distributed by MLS Grid
• 2017-12-21 Listed $137,900 MARIS as Distributed by MLS Grid

Property tax history

+1.3%/yr

Latest (2024): $1,635 · +5.1% YoY. Source: county tax records.