3117 Michigan Ave · St. Louis, MO 63118

$129,900

1 bd · 1.0 ba · 722 sqft · SingleFamily public records · 15 Days on market

Built 1955 3,123 sqft lot $180/sqft · 26% above area Est $190k · 32% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.1/30.0
• Rent growth +3.7/5.0
• DSCR +3.6/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to the sweet spot of city living in Tower Grove East—where character, convenience, and value come together in all the right ways. This thoughtfully refreshed 1-bedroom, 1-bath home is tailor-made for the first-time buyer who’s ready to stop renting and start building equity without sacrificing lifestyle. Inside, you’ll find a clean, updated feel that’s easy to personalize, while the finished basement adds that extra flex space everyone’s looking for—perfect for a home office, workout area, or cozy hangout with a wet bar! The 1-car garage is a rare and practical bonus in the city, giving you both convenience and peace of mind year-round. But what r

Key facts

• 3,123 sq ft lot
• Garage
• Built 1955

Property features AI

Finance

• Other: Living area approximately 1,336 total (722 above grade, 614 below grade); Lot approximately 0.0717 acres; Taxes listed for 2025
• Financial info: Seller may consider concessions; Lease not considered

Exterior

• Parking: 1-car garage
• Utilities: Public water; Public sewer; Electric service by Ameren; Electricity connected; Sewer connected
• Home design: Single family residence; One level
• Construction: Brick exterior; Basement
• Exterior features: Brick construction; No pool

Interior

• Kitchen: Gas Range; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Basement with sleeping area and storage; Near public transit

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $-29 ($-352/yr) — negative.
• To cash-flow at today's rent, offer at most $125k (4.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $94k (27.6% below list).
• Recommended offer: $94k (27.6% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 5.0% in St. Louis — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Zoned schools: Shenandoah Elem. (math 5% / reading 5%, grade F, #1,072 of 1,115 statewide, top 98%, 136 students, 98% FRL); Gateway Middle (math 0% / reading 8%, grade F, #389 of 391 statewide, top 100%, 506 students, 99% 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); 242 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $898 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $70k; list at $130k implies a 86% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — 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 $93,996 (27.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.72% ✗
• Cap rate: 6.02%
• Cash-on-cash: -0.97%
• DSCR: 0.96
• GRM: 11.5

CMA / ARV

• ARV (median comp): $190,147
• List price: $129,900
• Delta: -31.68%
• 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
3117 Michigan Ave	0.00mi	1/1.0	722 (0%)	1mo	$129,900	$180	100
2607 Michigan Ave	0.40mi	1/1.0	720 (-0%)	10mo	$125,000	$174	72
3172 Pennsylvania Ave	0.20mi	1/1.0	780 (+8%)	10mo	$119,900	$154	69
2913 Nebraska Ave	0.22mi	1/1.0	760 (+5%)	22mo	$89,900	$118	62
2825 Nebraska Ave	0.28mi	2/1.0 (+1)	779 (+8%)	8mo	$124,900	$160	62
3418 Michigan Ave	0.50mi	1/1.0	668 (-8%)	5mo	$40,000	$60	60
3228 Minnesota Ave	0.28mi	2/1.5 (+1)	758 (+5%)	20mo	$114,900	$152	55
3306 California Ave Unit A	0.48mi	1/1.0	676 (-6%)	14mo	$54,900	$81	55
2824 Oregon Ave	0.34mi	2/2.0 (+1)	758 (+5%)	22mo	$174,900	$231	48
2322 Michigan Ave	0.50mi	1/1.0	821 (+14%)	14mo	$167,500	$204	43
3151 Ohio Ave	0.45mi	1/1.0	826 (+14%)	22mo	$64,900	$79	36
2820 Indiana Ave	0.68mi	1/1.0	630 (-13%)	13mo	$120,000	$190	36

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: -16.2%
• Equity multiple: 0.42×
• Total profit: $-21,161
• Equity at exit: $19,369

10-year hold

• IRR: -5.3%
• Equity multiple: 0.63×
• Total profit: $-13,322
• Equity at exit: $11,231

Cash invested: $36,372 (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: 242
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $940 high
• Mortgage (P&I): −$681
• Tax from tax record: −$37 /mo · $439/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $-29

Break-even live

Break-even rent $977

Max offer price $124,716

Occupancy floor 98%

Sensitivity live

Price	-10% $44	-5% $7	+0% $-29	+5% $-66	+10% $-103
Rent	-10% $-104	-5% $-66	+0% $-29	+5% $8	+10% $45
Rate	-1.0pp $36	-0.5pp $4	base $-29	+0.5pp $-63	+1.0pp $-97

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3100 Arsenal St Unit 2 St. Louis, MO	1.0	1.0	600	$799	$1.33	19d	1	0.09mi
3108 Minnesota Ave Saint Louis, MO	1.0	1.0	627	$1,312	$2.09	0d	4	0.11mi
3009 Pennsylvania Ave Saint Louis, MO	1.0–2.0	1.0–2.0	928	$995	$1.07	22d	6	0.17mi
3021 Pestalozzi St Unit 203 St. Louis, MO	1.0	1.0	600	$829	$1.38	0d	1	0.23mi
3021 Pestalozzi St Unit 104 St. Louis, MO	1.0	1.0	600	$799	$1.33	45d	1	0.23mi
3021 Pestalozzi St Apt 205 St. Louis, MO	1.0	1.0	600	$750	$1.25	45d	1	0.23mi
3021 Pestalozzi St Unit 201 St. Louis, MO	1.0	1.0	600	$829	$1.38	25d	1	0.23mi
3021 Pestalozzi St Unit 105 St. Louis, MO	1.0	1.0	600	$750	$1.25	19d	1	0.23mi
3111a Arkansas Ave St. Louis, MO	1.0	1.0	700	$875	$1.25	45d	1	0.29mi
2749 Pestalozzi St Apt 2W St. Louis, MO	1.0	1.0	500	$795	$1.59	19d	1	0.39mi
3236 California Ave Unit 3 St. Louis, MO	1.0	1.0	600	$950	$1.58	25d	1	0.45mi
3611 Wyoming St Unit 3E St. Louis, MO	2.0	1.0	750	$1,199	$1.60	6d	1	0.47mi
2861 Ohio Ave Unit B St. Louis, MO	1.0	1.0	700	$825	$1.18	25d	1	0.48mi
2654 Pestalozzi St Unit 3A St. Louis, MO	1.0	1.0	650	$775	$1.19	45d	1	0.50mi
3434 Nebraska Ave Saint Louis, MO	2.0	1.0	747	$1,100	$1.47	45d	1	0.56mi
2852 Shenandoah Ave Saint Louis, MO	1.0	1.0	740	$795	$1.07	45d	1	0.59mi
2852 Shenandoah Ave Unit 1E St. Louis, MO	1.0	1.0	740	$795	$1.07	25d	1	0.59mi
2500 Ohio Ave St. Louis, MO	1.0–2.0	1.0–2.0	845	$1,335	$1.58	0d	19	0.65mi
3709 McDonald Ave Unit 3711 St. Louis, MO	1.0	1.0	625	$825	$1.32	0d	1	0.68mi
2528 Texas Ave St. Louis, MO	1.0–2.0	1.0–2.0	823	$1,335	$1.62	0d	8	0.69mi
2711 Indiana Ave Unit 2E St. Louis, MO	—	1.0	650	$695	$1.07	25d	1	0.72mi
2711 Indiana Ave Unit 1E St. Louis, MO	—	1.0	650	$600	$0.92	14d	1	0.72mi
3500 Miami St Saint Louis, MO	—	1.0	425	$826	$1.94	24d	7	0.76mi
3314 Russell Blvd Saint Louis, MO	1.0	1.0	650	$880	$1.35	25d	1	0.78mi
3316 Russell Blvd St. Louis, MO	1.0	1.0	650	$880	$1.35	5d	1	0.78mi
3312 Russell Blvd Saint Louis, MO	1.0	1.0	650	$880	$1.35	24d	1	0.78mi
3929-3931 Magnolia Ave St. Louis, MO	1.0	1.0	540	$895	$1.66	6d	2	0.85mi
3651 S Grand Blvd Unit 303 St. Louis, MO	1.0	1.0	450	$850	$1.89	0d	1	0.86mi
3653 S Grand Blvd Saint Louis, MO	1.0	1.0	2050	$1,350	$0.66	0d	4	0.86mi
3600 Texas Ave Saint Louis, MO	1.0	1.0	665	$1,198	$1.80	6d	2	0.89mi
1952 Cherokee St Unit 2F St. Louis, MO	1.0	1.0	750	$1,200	$1.60	24d	1	0.97mi
3450 Wisconsin Ave Saint Louis, MO	1.0–3.0	1.0–2.0	1219	$1,275	$1.05	0d	15	1.02mi
3839 Pennsylvania Ave Saint Louis, MO	2.0	1.0	725	$1,000	$1.38	22d	1	1.03mi
3402 Dunnica Ave Unit 3400 1f St. Louis, MO	1.0	1.0	695	$775	$1.12	25d	1	1.03mi
2700 Chippewa St Saint Louis, MO	1.0	1.0	703	$685	$0.97	4d	1	1.06mi
3665 S Broadway St Unit 3665 2nd Floor St. Louis, MO	1.0	1.0	675	$825	$1.22	0d	1	1.08mi
3101 Lafayette Ave St. Louis, MO	1.0	1.0	600	$995	$1.66	9d	3	1.09mi
3406 Keokuk St Unit 3406 St. Louis, MO	1.0	1.0	700	$800	$1.14	45d	1	1.10mi
4133-4141 Magnolia Ave Unit 4135-4 St. Louis, MO	1.0	1.0	520	$1,125	$2.16	4d	1	1.12mi
4145 Magnolia Ave Saint Louis, MO	1.0	1.0	450	$890	$1.98	19d	1	1.13mi

Listing history 6 events

1. 2026-05-12
   status Pending 1300-char remark
2. 2026-04-28
   listed $129,900 Active 1300-char remark
3. 2026-04-24
   historical $129,900 1300-char remark
4. 2021-07-20
   soldstatus $70,000
5. 2006-11-08
   soldstatus $95,000
6. 2004-09-01
   soldstatus

ⓘ 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: $439 · $37/mo
• Projected year-2 tax: $1,260 · $105/mo
• Expected delta: +$821/yr (+$68/mo · 187.0%)

ⓘ 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 ≥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: $11,280
• − Mortgage interest: −$7,276
• − Property taxes: −$439
• − Insurance: −$650
• − Repairs & maintenance: −$902
• − Management: −$902
• − Depreciation: −$3,779
• Taxable loss: −$2,669
• Est. tax savings @ 24.0%: +$641
• After-tax cash flow: $288/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

+36.7% since first listed

7 events — show timeline

• 2026-06-04 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2026-05-12 Pending — MARIS as Distributed by MLS Grid
• 2026-04-28 Listed $129,900 MARIS as Distributed by MLS Grid
• 2026-04-24 Coming Soon $129,900 MARIS as Distributed by MLS Grid
• 2021-07-20 Sold (Public Records) $70,000 Public Records
• 2006-11-08 Sold (Public Records) $95,000 Public Records
• 2004-09-01 Sold (Public Records) — Public Records

Property tax history

+1.6%/yr

Latest (2024): $439 · +4.8% YoY. Source: county tax records.