2108 Chippewa St · St. Louis, MO 63118

$35,000

3 bd · 1.0 ba · 971 sqft · SingleFamily public records · 104 Days on market

Built 1887 6,251 sqft lot Est $67k · 48% under ↓ 35% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Listing remarks

Short sale approved with US Bank. Story and a half home with 3 bedrooms and 1 full bath. The home has a foyer, big living room, kitchen and 1 bedroom on the main level. Upstairs has 2 bedrooms and an unfinished attic space. The kitchen has laundry hook ups in it and can hold a small dining set. Home is equipped for central air and uses window units for cooling. Seller notes that the electric panel, sewer line and a portion of the roof need repairing. There is a portion of the roof that is 2 years old. Home is ready for its next owner to make it their own. Seller is requesting a Special Sales Contract and not to participate in any buyer inspections or St. Louis City Occupancy. Approved short

Key facts

• 6,251 sq ft lot
• Garage
• Built 1887

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $674 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $32k (9.0% below list) — sets the bar for market timing.
• Cap rate 29.4% 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: Monroe Elem. (math 2% / reading 2%, grade F, #1,099 of 1,115 statewide, top 100%, 158 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); 243 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $25k (42%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1887 — 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 $31,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1887 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 3.32% ✓
• Cap rate: 29.41%
• Cash-on-cash: 82.55%
• DSCR: 4.67
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $66,999
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2806 Keokuk St	0.45mi	3/1.0	963 (-1%)	6mo	$144,900	$150	72
3315 Texas Ave	0.65mi	2/1.0 (-1)	950 (-2%)	7mo	$139,900	$147	55
3931 Pennsylvania Ave	0.64mi	4/1.0 (+1)	1,009 (+4%)	8mo	$69,900	$69	52
3819 California Ave	0.43mi	2/1.0 (-1)	864 (-11%)	8mo	$55,000	$64	50
2719 Keokuk St	0.35mi	2/1.5 (-1)	836 (-14%)	5mo	$55,000	$66	49
4106 Nebraska Ave	0.65mi	3/1.0	1,080 (+11%)	4mo	$40,000	$37	48
4110 Oregon Ave	0.61mi	2/1.5 (-1)	1,088 (+12%)	1mo	$39,000	$36	44
3426 Nebraska Ave	0.69mi	3/1.5	1,100 (+13%)	1mo	$159,900	$145	43
4031 Pennsylvania Ave	0.68mi	3/1.0	850 (-12%)	10mo	$20,000	$24	39
3607 Oregon Ave	0.55mi	2/2.0 (-1)	838 (-14%)	7mo	$89,990	$107	37
2125 Utah St	0.65mi	2/2.0 (-1)	845 (-13%)	8mo	$179,900	$213	33
3841 Michigan Ave	0.75mi	2/1.0 (-1)	1,098 (+13%)	8mo	$42,000	$38	32

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: 85.0%
• Equity multiple: 5.03×
• Total profit: $39,540
• Equity at exit: $5,219

10-year hold

• IRR: 88.6%
• Equity multiple: 11.14×
• Total profit: $99,413
• Equity at exit: $3,026

Cash invested: $9,800 (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: 243
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,163 high
• Mortgage (P&I): −$184
• Tax from tax record: −$47 /mo · $561/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $674

Break-even live

Break-even rent $310

Max offer price $35,000

Occupancy floor 37%

Sensitivity live

Price	-10% $694	-5% $684	+0% $674	+5% $664	+10% $654
Rent	-10% $582	-5% $628	+0% $674	+5% $720	+10% $766
Rate	-1.0pp $692	-0.5pp $683	base $674	+0.5pp $665	+1.0pp $656

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3743 Wisconsin Ave Unit 37433RDF St. Louis, MO	2.0	1.5	750	$895	$1.19	45d	1	0.08mi
3700 S Broadway St Unit 2N St. Louis, MO	2.0	1.0	975	$925	$0.95	25d	1	0.11mi
2641 Keokuk St Unit 1R St. Louis, MO	3.0	1.0	800	$1,295	$1.62	45d	1	0.29mi
3739 Ohio Ave Unit A St. Louis, MO	2.0	1.0	900	$1,000	$1.11	5d	1	0.30mi
2649 Keokuk St Unit 1L St. Louis, MO	2.0	1.0	800	$1,195	$1.49	45d	1	0.30mi
3450 Wisconsin Ave Saint Louis, MO	1.0–3.0	1.0–2.0	1219	$2,300	$1.89	0d	15	0.42mi
3530 Oregon Ave Unit 3532 St. Louis, MO	2.0	1.0	1035	$825	$0.80	45d	1	0.54mi
3534 Nebraska Ave Saint Louis, MO	2.0	1.0	1100	$1,100	$1.00	45d	1	0.59mi
3839 Pennsylvania Ave Saint Louis, MO	2.0	1.0	725	$1,000	$1.38	21d	1	0.61mi
4127 Oregon Ave Unit 2F St. Louis, MO	2.0	1.0	1000	$1,203	$1.20	25d	1	0.66mi
3434 Nebraska Ave Saint Louis, MO	2.0	1.0	747	$1,100	$1.47	45d	1	0.66mi
3922 Minnesota Ave Saint Louis, MO	2.0	1.0	1000	$925	$0.93	45d	1	0.67mi
3855 Minnesota Ave Unit B St. Louis, MO	2.0	1.0	900	$850	$0.94	45d	1	0.68mi
3106 Keokuk St Saint Louis, MO	2.0	1.0	850	$850	$1.00	17d	1	0.70mi
3116 Keokuk St Saint Louis, MO	2.0	1.0	900	$850	$0.94	4d	1	0.71mi
3116 Keokuk St Unit 1F St. Louis, MO	2.0	1.0	900	$850	$0.94	3d	1	0.71mi
4238 California Ave St. Louis, MO	2.0	1.0	1000	$1,300	$1.30	45d	1	0.72mi
3829 S Compton Ave Unit B St. Louis, MO	2.0	1.0	1040	$1,050	$1.01	25d	1	0.80mi
3829 S Compton Ave Unit A St. Louis, MO	2.0	1.0	1040	$1,000	$0.96	17d	1	0.80mi
3506 S Compton Ave Saint Louis, MO	2.0	2.0	1100	$1,300	$1.18	12d	1	0.84mi
4308 Nebraska Ave Unit B St. Louis, MO	2.0	2.0	1012	$1,148	$1.13	9d	1	0.85mi
3614 Virginia Ave Saint Louis, MO	2.0	1.0	980	$1,200	$1.22	45d	1	0.86mi
3220 Nebraska Ave Unit 1f St. Louis, MO	2.0	1.0	850	$1,100	$1.29	45d	1	0.86mi
3220 Nebraska Ave Unit 1f St. Louis, MO	2.0	1.0	850	$1,100	$1.29	0d	1	0.86mi
3220 Nebraska Ave Unit 1f St. Louis, MO	2.0	1.0	850	$1,100	$1.29	25d	1	0.86mi
2846 Wyoming St Unit 2F St. Louis, MO	2.0	1.0	840	$900	$1.07	45d	1	0.88mi
2848 Wyoming St Unit 2850 St. Louis, MO	2.0	1.0	800	$895	$1.12	25d	1	0.88mi
3428 Dunnica Ave Saint Louis, MO	2.0	1.0	1050	$995	$0.95	45d	1	0.97mi
3238 S Compton Ave St. Louis, MO	2.0	1.0	875	$1,150	$1.31	45d	1	1.01mi
3221 Gravois Ave Unit B St. Louis, MO	2.0	1.0	950	$1,000	$1.05	25d	1	1.08mi
3514 Alberta St Unit 1W St. Louis, MO	2.0	1.0	800	$800	$1.00	45d	1	1.09mi
4528 Nebraska Ave Unit 305 St. Louis, MO	2.0	2.0	950	$1,345	$1.42	25d	1	1.09mi
3310 Wyoming St Unit 2E St. Louis, MO	2.0	1.0	900	$995	$1.11	13d	1	1.13mi
3432 Utah St Unit 3434 St. Louis, MO	2.0	1.0	1000	$1,150	$1.15	45d	1	1.14mi
3434 Utah St St. Louis, MO	2.0	1.0	1000	$1,150	$1.15	45d	1	1.15mi
3009 Pennsylvania Ave Saint Louis, MO	1.0–2.0	1.0–2.0	928	$1,195	$1.29	21d	6	1.19mi
2924 Pennsylvania Ave Saint Louis, MO	2.0	1.0	1020	$1,150	$1.13	9d	1	1.20mi
3521 Utah St Unit 3525 St. Louis, MO	2.0	1.0	1100	$1,445	$1.31	5d	1	1.25mi
3702 Meramec St Unit 1e St. Louis, MO	2.0	1.0	725	$950	$1.31	0d	1	1.25mi
3702 Meramec St Unit 1e St. Louis, MO	2.0	1.0	725	$950	$1.31	9d	1	1.25mi

Listing history 8 events

1. 2025-07-23
   status Pending
2. 2025-07-14
   price $35,000
3. 2025-07-02
   status Active
4. 2025-06-20
   price $40,000
5. 2025-06-09
   status Active
6. 2025-04-24
   price $57,475
7. 2025-03-30
   listed $60,000 Active
8. 2001-08-07
   soldstatus $54,000

ⓘ 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: $561 · $47/mo
• Projected year-2 tax: $561 · $47/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 5/10 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: $13,961
• − Mortgage interest: −$1,961
• − Property taxes: −$561
• − Insurance: −$175
• − Repairs & maintenance: −$1,117
• − Management: −$1,117
• − Depreciation: −$1,018
• Taxable income: $8,012
• Est. tax owed @ 24.0%: −$1,923
• After-tax cash flow: $6,167/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

-35.2% since first listed

8 events — show timeline

• 2025-07-23 Pending — MARIS as Distributed by MLS Grid
• 2025-07-14 Price Changed $35,000 MARIS as Distributed by MLS Grid
• 2025-07-02 Relisted — MARIS as Distributed by MLS Grid
• 2025-06-20 Price Changed $40,000 MARIS as Distributed by MLS Grid
• 2025-06-09 Relisted — MARIS as Distributed by MLS Grid
• 2025-04-24 Price Changed $57,475 MARIS as Distributed by MLS Grid
• 2025-03-30 Listed $60,000 MARIS as Distributed by MLS Grid
• 2001-08-07 Sold (Public Records) $54,000 Public Records

Property tax history

+2.2%/yr

Latest (2024): $561 · +4.5% YoY. Source: county tax records.