1709 Washington Ave

St. Louis, MO 63103

$120,000B

1 bd · 1.0 ba · 1,767 sqft · Built 1912 · SingleFamily · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,610/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$200
• HOA: −$0
• Vac / Maint / Mgmt: −$338
• Net cashflow: $442/mo
• Annual: $5,307/yr
• Cap rate: 10.72%
• Cash-on-cash: 15.79%
• DSCR: 1.70
• 1% rule: 1.34%
• Cash to close: $33,600

Investor read

• This is a 1-bed/1.0-bath single-family listed at $120k.
• At list price, monthly cash flow is $442 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($830 loan paydown + $797 appreciation (0.7% local appreciation)).
• 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.
• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+9.2%/yr); 70 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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).
• St. Louis County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 10 sale attempts since 2y 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.
• At projected returns (0.7% appreciation + 8.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.
• 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.
• Cap rate 10.7% 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.
• At $1,610/mo this rent would consume 47% of the median local household income ($41k/yr) (locally 960% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.