3657 Pennsylvania Ave · St. Louis, MO 63118

$1

None bd · 2.0 ba · 1,898 sqft · MultiFamily public records · 25 Days on market

Built 1909 3,868 sqft lot $0/sqft · 100% 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 +3.7/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Great opportunity to collect rent where you live, OR collect rent from 2 tenants! One unit is currently occupied, the other is ready for YOU! Tenant pays $820, lease renewable in December, 2024. Call agent with questions. Property being sold as-is. Please do not disturb tenant. No sign in yard. Current lease & Rent roll available with accepted contract. Showings available with accepted contract. Hot water heater and a/c window units replaced in 2017 & 2019. Roof resealed in 2019, Boiler replaced in 2023. This is an As-Is Sale. Seller to do no inspections or repairs. Vacant has been professionally cleaned, and painted. The unit is listed for rent by the property management company.

Key facts

• 3,868 sq ft lot
• 2 garage spots
• Built 1909

Property features AI

Finance

• Other: Lot size about 0.0888 acres
• Financial info: Listed as auction property

Exterior

• Parking: 2-car garage
• Utilities: Public water
• Home design: Residential income property (2–4 units); Two-story building (above grade living area reported as 1,898)
• Construction: Brick construction
• Exterior features: Partial fencing

Interior

• Bedrooms: No main or upper level bedrooms listed
• Bathrooms: No main or upper level bathrooms listed
• Heating & cooling: Wall/window air conditioning units
• Interior features: Full basement

🏷️ Possibly a rental listed for sale. The $1 price doesn't fit this home's estimated sale value (~$146,929) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a ?-bed/2.0-bath multifamily listed at $1.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1).
• Cap rate 1955722.0% 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 fast (+4.9%/yr); 240 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• This rent runs 43% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $0 of loan paydown is wiped out by about $0 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 $0 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 12y 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 1909 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1

Questions for the listing agent

1. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 206300.00% ✓
• Cap rate: 1955722.00%
• Cash-on-cash: 6984698.95%
• DSCR: 310780.80
• GRM: 0.0

CMA / ARV

• ARV (median comp): $146,929
• List price: $1
• Delta: -100.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3734 Minnesota Ave	0.10mi	—/2.0	1,956 (+3%)	3mo	$44,900	$23	88
3709 Minnesota Ave	0.08mi	—/—	1,950 (+3%)	5mo	$99,900	$51	88
3217 Cherokee St	0.43mi	2/2.0	1,890 (-0%)	8mo	$275,000	$146	73
3231 Gravois Ave	0.61mi	4/2.0	1,776 (-6%)	4mo	$265,000	$149	58
3744 Michigan Ave	0.15mi	8/4.0	2,160 (+14%)	8mo	$140,000	$65	56
4029 Nebraska Ave	0.46mi	—/—	2,146 (+13%)	4mo	$29,900	$14	54
4233 California Ave	0.73mi	—/—	2,028 (+7%)	3mo	$149,900	$74	52
3254 Ohio Ave	0.60mi	5/3.0	2,112 (+11%)	3mo	$225,000	$107	47
3025 Utah St	0.50mi	5/3.0	2,162 (+14%)	6mo	$235,000	$109	44
3405 Meramec St	0.70mi	6/2.0	2,178 (+15%)	3mo	$259,900	$119	40
3414 Klocke St	0.68mi	6/3.0	2,154 (+14%)	7mo	$105,000	$49	36
3535 Giles Ave	0.70mi	8/8.0	1,978 (+4%)	8mo	$334,900	$169	34

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: —
• Equity multiple: 385102.03×
• Total profit: $107,828
• Equity at exit: $0

10-year hold

• IRR: —
• Equity multiple: 874031.24×
• Total profit: $244,728
• Equity at exit: $0

Cash invested: $0 (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

Monthly cashflow live

• Estimated rent: $2,063 high
• Mortgage (P&I): −$0
• Tax est. 1.5%: −$0 /mo · $0/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $1,630

Break-even live

Break-even rent —

Max offer price $1

Occupancy floor 16%

Sensitivity live

Price	-10% $1,630	-5% $1,630	+0% $1,630	+5% $1,630	+10% $1,630
Rent	-10% $1,467	-5% $1,548	+0% $1,630	+5% $1,711	+10% $1,793
Rate	-1.0pp $1,630	-0.5pp $1,630	base $1,630	+0.5pp $1,630	+1.0pp $1,630

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,062
Total (2 units)			$2,063

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: $0
• Closing costs: $0
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3131 Keokuk St #3131 Saint Louis, MO	3.0	2.0	1500	$1,475	$0.98	15d	1	0.26mi
3146 Keokuk St Saint Louis, MO	3.0	1.0	1528	$1,500	$0.98	24d	1	0.29mi
3914 Michigan Ave Saint Louis, MO	2.0	1.0	1376	$1,150	$0.84	44d	1	0.30mi
3510 California Ave Saint Louis, MO	3.0	2.0	1800	$1,200	$0.67	44d	1	0.31mi
3410 Virginia Ave Unit B St. Louis, MO	2.0	2.0	1442	$1,375	$0.95	16d	1	0.42mi
3429 Ohio Ave Saint Louis, MO	3.0	3.0	1938	$2,250	$1.16	16d	1	0.45mi
3458 Alberta St Saint Louis, MO	1.0	1.0	2244	$770	$0.34	12d	1	0.52mi
3653 S Grand Blvd Saint Louis, MO	1.0	1.0	2050	$1,350	$0.66	2d	4	0.53mi
4130 Minnesota Ave Saint Louis, MO	2.0	1.0	1234	$975	$0.79	15d	1	0.56mi
3627 Missouri Ave Unit A St. Louis, MO	1.0	1.0	1470	$1,195	$0.81	24d	1	0.58mi
4135 S Compton Ave Saint Louis, MO	3.0	2.0	2104	$1,600	$0.76	44d	1	0.60mi
3215 Oregon Ave Unit 1F St. Louis, MO	2.0	1.0	1373	$1,150	$0.84	18d	1	0.60mi
4145 S Compton Ave Saint Louis, MO	3.0	2.0	1656	$1,520	$0.92	44d	1	0.62mi
3458 Giles Ave Saint Louis, MO	3.0	2.5	2204	$2,400	$1.09	8d	1	0.70mi
2643 Wyoming St Saint Louis, MO	3.0	2.5	2592	$2,600	$1.00	44d	1	0.73mi
4250 Michigan Ave Saint Louis, MO	2.0	1.0	2184	$1,200	$0.55	44d	1	0.74mi
3637 Meramec St Saint Louis, MO	3.0	1.5	1632	$1,925	$1.18	17d	1	0.76mi
3450 Wisconsin Ave Saint Louis, MO	1.0–3.0	1.0–2.0	1219	$1,788	$1.47	2d	15	0.79mi
4217 S Grand Blvd Unit 1 St. Louis, MO	3.0	1.0	1250	$1,400	$1.12	4d	1	0.80mi
3615 Humphrey St Unit 1ST St. Louis, MO	1.0	1.0	1400	$1,495	$1.07	24d	1	0.81mi
2634 Arsenal St St. Louis, MO	2.0	1.0	1500	$1,400	$0.93	24d	1	0.85mi
3807 Potomac St Saint Louis, MO	3.0	1.0	2588	$1,300	$0.50	8d	1	0.85mi
3807 Potomac St Saint Louis, MO	3.0	1.0	2588	$1,100	$0.43	44d	1	0.85mi
2636 Arsenal St St. Louis, MO	2.0	1.0	1500	$1,400	$0.93	24d	1	0.86mi
4222 S 38th St Unit 4222 St. Louis, MO	3.0	2.0	1836	$1,400	$0.76	20d	1	0.86mi
3009 Pennsylvania Ave Saint Louis, MO	1.0–2.0	1.0–2.0	928	$1,195	$1.29	20d	6	0.91mi
4450 Pennsylvania Ave Saint Louis, MO	3.0	1.0	1500	$1,100	$0.73	5d	1	0.98mi
3319 S 18th St Saint Louis, MO	2.0	1.5	1368	$1,600	$1.17	44d	1	1.00mi
3908 McDonald Ave Saint Louis, MO	3.0	2.0	1927	$2,500	$1.30	5d	1	1.02mi
2826 Nebraska Ave Saint Louis, MO	1.0	1.0	1235	$1,045	$0.85	8d	1	1.04mi
1917 Arsenal St Saint Louis, MO	2.0	1.0	1239	$1,250	$1.01	20d	1	1.07mi
2664 Nebraska Ave Unit 2F Saint Louis, MO	3.0	1.0	1350	$1,150	$0.85	24d	1	1.15mi
4657 Idaho Ave Unit 4659 St. Louis, MO	2.0	2.0	1668	$1,295	$0.78	24d	1	1.20mi
3635 Marceline Ter Unit 2ND St. Louis, MO	3.0	1.0	1250	$1,275	$1.02	44d	1	1.21mi
2602 Minnesota Ave Saint Louis, MO	2.0	1.5	1664	$1,950	$1.17	5d	1	1.24mi
2327 Texas Ave Apt 205 St. Louis, MO	3.0	2.0	1375	$2,095	$1.52	18d	1	1.36mi
2267 Indiana Ave Saint Louis, MO	2.0	1.5	1900	$2,195	$1.16	3d	1	1.50mi

Listing history 29 events

1. 2026-06-09
   days on market $1 Active 25 DOM
2. 2026-06-08
   days on market $1 Active 24 DOM
3. 2026-06-07
   days on market $1 Active 23 DOM
4. 2026-06-05
   days on market $1 Active 20 DOM
5. 2026-06-03
   days on market $1 Active 19 DOM
6. 2026-06-02
   days on market $1 Active 18 DOM
7. 2026-06-01
   days on market $1 Active 17 DOM
8. 2026-05-31
   days on market $1 Active 16 DOM
9. 2026-05-15
   listed $1 Active 497-char remark
10. 2025-10-03
    listed $162,000 Active
11. 2024-04-23
    soldstatus $140,000
12. 2024-04-19
    soldstatus Closed

    Show marketing remark (697 chars)

    Great opportunity to collect rent where you live, OR collect rent from 2 tenants! One unit is currently occupied, the other is ready for YOU! Tenant pays $820, lease renewable in December, 2024. Call agent with questions. Property being sold as-is. Please do not disturb tenant. No sign in yard. Current lease & Rent roll available with accepted contract. Showings available with accepted contract. Hot water heater and a/c window units replaced in 2017 & 2019. Roof resealed in 2019, Boiler replaced in 2023. This is an As-Is Sale. Seller to do no inspections or repairs. Vacant has been professionally cleaned, and painted. The unit is listed for rent by the property management company.

13. 2024-03-19
    historical $850
14. 2024-03-13
    status Pending

    Show marketing remark (697 chars)

    Great opportunity to collect rent where you live, OR collect rent from 2 tenants! One unit is currently occupied, the other is ready for YOU! Tenant pays $820, lease renewable in December, 2024. Call agent with questions. Property being sold as-is. Please do not disturb tenant. No sign in yard. Current lease & Rent roll available with accepted contract. Showings available with accepted contract. Hot water heater and a/c window units replaced in 2017 & 2019. Roof resealed in 2019, Boiler replaced in 2023. This is an As-Is Sale. Seller to do no inspections or repairs. Vacant has been professionally cleaned, and painted. The unit is listed for rent by the property management company.

15. 2024-01-24
    listed $850
16. 2023-12-08
    status Active

    Show marketing remark (697 chars)

    Great opportunity to collect rent where you live, OR collect rent from 2 tenants! One unit is currently occupied, the other is ready for YOU! Tenant pays $820, lease renewable in December, 2024. Call agent with questions. Property being sold as-is. Please do not disturb tenant. No sign in yard. Current lease & Rent roll available with accepted contract. Showings available with accepted contract. Hot water heater and a/c window units replaced in 2017 & 2019. Roof resealed in 2019, Boiler replaced in 2023. This is an As-Is Sale. Seller to do no inspections or repairs. Vacant has been professionally cleaned, and painted. The unit is listed for rent by the property management company.

17. 2023-09-19
    historical

    Show marketing remark (697 chars)

    Great opportunity to collect rent where you live, OR collect rent from 2 tenants! One unit is currently occupied, the other is ready for YOU! Tenant pays $820, lease renewable in December, 2024. Call agent with questions. Property being sold as-is. Please do not disturb tenant. No sign in yard. Current lease & Rent roll available with accepted contract. Showings available with accepted contract. Hot water heater and a/c window units replaced in 2017 & 2019. Roof resealed in 2019, Boiler replaced in 2023. This is an As-Is Sale. Seller to do no inspections or repairs. Vacant has been professionally cleaned, and painted. The unit is listed for rent by the property management company.

18. 2023-09-15
    listed $150,000 Active

    Show marketing remark (697 chars)

    Great opportunity to collect rent where you live, OR collect rent from 2 tenants! One unit is currently occupied, the other is ready for YOU! Tenant pays $820, lease renewable in December, 2024. Call agent with questions. Property being sold as-is. Please do not disturb tenant. No sign in yard. Current lease & Rent roll available with accepted contract. Showings available with accepted contract. Hot water heater and a/c window units replaced in 2017 & 2019. Roof resealed in 2019, Boiler replaced in 2023. This is an As-Is Sale. Seller to do no inspections or repairs. Vacant has been professionally cleaned, and painted. The unit is listed for rent by the property management company.

19. 2020-12-30
    soldstatus $115,000
20. 2020-12-28
    soldstatus Closed
21. 2020-12-15
    status Pending
22. 2020-12-11
    status Active
23. 2020-11-12
    status Pending
24. 2020-11-09
    listed $119,900 Active
25. 2014-11-12
    soldstatus
26. 2014-11-12
    soldstatus
27. 2014-07-17
    listed $30,000
28. 1991-07-02
    soldstatus
29. 1991-02-11
    soldstatus

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 52% 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: $24,756
• − Mortgage interest: −$0
• − Property taxes: −$0
• − Insurance: −$0
• − Repairs & maintenance: −$1,980
• − Management: −$1,980
• − Depreciation: −$0
• Taxable income: $20,795
• Est. tax owed @ 24.0%: −$4,991
• After-tax cash flow: $14,566/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

+440.0% since first listed

21 events — show timeline

• 2026-05-15 Listed $1 MARIS as Distributed by MLS Grid
• 2025-10-03 Listed $162,000 MARIS as Distributed by MLS Grid
• 2024-04-23 Sold (Public Records) $140,000 Public Records
• 2024-04-19 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2024-03-19 Rental Removed $850 MARIS
• 2024-03-13 Pending — MARIS as Distributed by MLS Grid
• 2024-01-24 Listed for Rent $850 MARIS
• 2023-12-08 Relisted — MARIS as Distributed by MLS Grid
• 2023-09-19 Delisted — MARIS as Distributed by MLS Grid
• 2023-09-15 Listed $150,000 MARIS as Distributed by MLS Grid
• 2020-12-30 Sold (Public Records) $115,000 Public Records
• 2020-12-28 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2020-12-15 Pending — MARIS as Distributed by MLS Grid
• 2020-12-11 Relisted — MARIS as Distributed by MLS Grid
• 2020-11-12 Pending — MARIS as Distributed by MLS Grid
• 2020-11-09 Listed $119,900 MARIS as Distributed by MLS Grid
• 2014-11-12 Sold (Public Records) — Public Records
• 2014-11-12 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2014-07-17 Listed $30,000 MARIS as Distributed by MLS Grid
• 1991-07-02 Sold (Public Records) — Public Records
• 1991-02-11 Sold (Public Records) — Public Records

Property tax history

+2.8%/yr

Latest (2024): $385 · +4.8% YoY. Source: county tax records.