4 Bruce Dr · Florissant, MO 63031

$2,150,000

1 bd · 1.0 ba · 8,379 sqft · MultiFamily public records · 94 Days on market

Built 1963 1.48 ac lot $257/sqft · 173% above area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 32 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

This offering presents a 32-unit multifamily investment opportunity in Florissant, Missouri, consisting of four eight-family buildings located at 4–16 Bruce Drive. Built in the 1960s, the property features one-bedroom units and is part of a larger seven-building apartment community that has undergone extensive renovations between 2023 and 2026 totaling more than $2.2 million in capital improvements. Updates include electrical system upgrades, central air installation, and modernization of building infrastructure. The property is currently 90% occupied and in lease-up, with rents positioned below market levels, creating a clear value-add opportunity as leases renew and units stabilize. Select units have been intentionally left vacant to accommodate showings. Market data indicates average rents of approximately $942 for comparable one-bedroom units within a three-mile radius. Additional property features include pitched roofs, spacious common areas, ample off-street parking, and washer/dryer hookups in each building, with the potential to add shared laundry facilities for additional income. The property is conveniently located minutes from Lambert International Airport and major employers such as Boeing and Amazon, with nearby land planned for future city park development.

Key facts

• 1.48 acre lot
• Built 1963
• Listed 94 days

Tags

• FOUR EIGHT-FAMILY BUILDINGS
• EXTENSIVE RENOVATIONS
• ELECTRICAL SYSTEM UPGRADES
• CENTRAL AIR INSTALLATION
• SPACIOUS COMMON AREAS
• AMPLE OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a 32 × 1-bed/1-bath units multifamily listed at $2.15M.

Deal economics

• At list price, monthly cash flow is $15k ($175k/yr) — positive. Per door: $456/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($37k rent vs $2.15M).
• Recommended offer: $1.96M (9.0% below list) — sets the bar for market timing.
• Cap rate 14.7% vs local median 6.3% in Florissant — 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 73/100 on livability (#82 in MO) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime C-, amenities D+, schools D.
• Hazelwood (suburban): math 11% / reading 26% proficiency, ranked #306 of 324 in MO (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+4.3%/yr); 272 active listings in the ZIP; 920 units permitted in St. Louis County in 2024 (250 in 5+ unit buildings).
• At $36,616/mo this rent would consume 621% of the median local household income ($71k/yr) (locally 1279% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $15k of loan paydown is wiped out by about $64k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $602k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($1.96M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $740k; list at $2.15M implies a 191% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,956,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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.
10. 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.
11. 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: 1.70% ✓
• Cap rate: 14.67%
• Cash-on-cash: 29.92%
• DSCR: 2.33
• GRM: 4.9

CMA / ARV

• ARV (median comp): $786,440
• List price: $2,150,000
• Delta: 173.38%
• Verdict: OVERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.27% rent growth · sell at horizon

5-year hold

• IRR: 24.9%
• Equity multiple: 2.04×
• Total profit: $628,173
• Equity at exit: $320,572

10-year hold

• IRR: 33.4%
• Equity multiple: 4.23×
• Total profit: $1,943,647
• Equity at exit: $185,893

Cash invested: $602,000 (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 63031

• Rents YoY: 4.3%
• Active inventory: 272
• Price-to-rent: 156.6×

Monthly cashflow live

• Estimated rent: $36,616 medium
• Mortgage (P&I): −$11,275
• Tax from tax record: −$1,744 /mo · $20,928/yr
• Insurance: −$896
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$7,689
• Net cashflow: $14,585

Break-even live

Break-even rent $18,153

Max offer price $2,150,000

Occupancy floor 55%

Sensitivity live

Price	-10% $15,802	-5% $15,194	+0% $14,585	+5% $13,977	+10% $13,368
Rent	-10% $11,693	-5% $13,139	+0% $14,585	+5% $16,032	+10% $17,478
Rate	-1.0pp $15,668	-0.5pp $15,132	base $14,585	+0.5pp $14,028	+1.0pp $13,462

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

Units	Beds	Baths	Est. rent
▸ 32× units	1	1	$36,608
Total (32 units)			$36,616

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: $537,500
• Closing costs: $64,500
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $2,150,000 Active 94 DOM
2. 2026-06-17
   days on market $2,150,000 Active 93 DOM
3. 2026-06-16
   days on market $2,150,000 Active 92 DOM
4. 2026-06-15
   days on market $2,150,000 Active 91 DOM
5. 2026-06-13
   days on market $2,150,000 Active 89 DOM
6. 2026-06-13
   days on market $2,150,000 Active 88 DOM
7. 2026-06-09
   days on market $2,150,000 Active 85 DOM
8. 2026-06-08
   days on market $2,150,000 Active 84 DOM
9. 2026-06-07
   days on market $2,150,000 Active 83 DOM
10. 2026-06-05
    days on market $2,150,000 Active 80 DOM
11. 2026-06-03
    days on market $2,150,000 Active 79 DOM
12. 2026-06-02
    days on market $2,150,000 Active 78 DOM
13. 2026-06-01
    days on market $2,150,000 Active 77 DOM
14. 2026-05-31
    days on market $2,150,000 Active 76 DOM
15. 2026-05-19
    price $2,150,000 1298-char remark

    Show marketing remark (1298 chars)

    This offering presents a 32-unit multifamily investment opportunity in Florissant, Missouri, consisting of four eight-family buildings located at 4–16 Bruce Drive. Built in the 1960s, the property features one-bedroom units and is part of a larger seven-building apartment community that has undergone extensive renovations between 2023 and 2026 totaling more than $2.2 million in capital improvements. Updates include electrical system upgrades, central air installation, and modernization of building infrastructure. The property is currently 90% occupied and in lease-up, with rents positioned below market levels, creating a clear value-add opportunity as leases renew and units stabilize. Select units have been intentionally left vacant to accommodate showings. Market data indicates average rents of approximately $942 for comparable one-bedroom units within a three-mile radius. Additional property features include pitched roofs, spacious common areas, ample off-street parking, and washer/dryer hookups in each building, with the potential to add shared laundry facilities for additional income. The property is conveniently located minutes from Lambert International Airport and major employers such as Boeing and Amazon, with nearby land planned for future city park development.

16. 2026-03-16
    listed $2,375,000 Active 1298-char remark

    Show marketing remark (1298 chars)

    This offering presents a 32-unit multifamily investment opportunity in Florissant, Missouri, consisting of four eight-family buildings located at 4–16 Bruce Drive. Built in the 1960s, the property features one-bedroom units and is part of a larger seven-building apartment community that has undergone extensive renovations between 2023 and 2026 totaling more than $2.2 million in capital improvements. Updates include electrical system upgrades, central air installation, and modernization of building infrastructure. The property is currently 90% occupied and in lease-up, with rents positioned below market levels, creating a clear value-add opportunity as leases renew and units stabilize. Select units have been intentionally left vacant to accommodate showings. Market data indicates average rents of approximately $942 for comparable one-bedroom units within a three-mile radius. Additional property features include pitched roofs, spacious common areas, ample off-street parking, and washer/dryer hookups in each building, with the potential to add shared laundry facilities for additional income. The property is conveniently located minutes from Lambert International Airport and major employers such as Boeing and Amazon, with nearby land planned for future city park development.

17. 2001-08-24
    soldstatus $740,000
18. 2001-08-24
    soldstatus $740,000

ⓘ 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: $20,928 · $1,744/mo
• Projected year-2 tax: $20,928 · $1,744/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 6/10 Major FEMA zone AE · 84% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $439,392
• − Mortgage interest: −$120,433
• − Property taxes: −$20,928
• − Insurance: −$15,868
• − Repairs & maintenance: −$35,151
• − Management: −$35,151
• − Depreciation: −$62,545
• Taxable income: $149,314
• Est. tax owed @ 24.0%: −$35,835
• After-tax cash flow: $139,190/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: Hazelwood
• NCES district ID: 2913830
• Math proficiency: 11% ▼ -13.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $51,621
• Composite: 16.77/100
• National rank: #9156
• State rank: #306 of 324 in MO

Livability — Florissant

• Score: 73/100
• State rank: #82
• US rank: #5406

Category grades

Amenities D+ Commute F Cost of living A+ Crime C- Employment C Housing A+ Health & safety B+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florissant, MO
• County: Saint Louis County · 888,823 people
• City population: 69,104
• Metro: St. Louis, MO-IL
• Population (ZIP): 50,196
• Household income: $70,811
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 1279.0

Population outlook (St. Louis County) Hauer SSP2

• Today (2025): 1,025,227 people
• By 2030: 1,028,023 · +0.3%
• By 2040: 1,020,940 · -0.4%
• By 2050: 1,007,280 · -1.8%
• By 2075: 987,277 · -3.7%
• By 2100: 921,984 · -10.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 49% Black 41% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Romanian 3% Lithuanian 3% Swedish 1%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · St. Louis

• 2024 margin: Strong D (+23.4) · D 60.8% · R 37.4% · Other 1.7%
• 2008→2024 swing: +3.5pp toward D · 2008: 19.9pp · 2024: 23.4pp
• All cycles: 2024: D+23.4 2020: D+24.0 2016: D+16.2 2012: D+13.7 2008: D+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -223.57%
• Current HPI: 202.7192
• Rent YoY: ▲ 4.27%
• 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

+190.5% since first listed

4 events — show timeline

• 2026-05-19 Price Changed $2,150,000 MARIS as Distributed by MLS Grid
• 2026-03-16 Listed $2,375,000 MARIS as Distributed by MLS Grid
• 2001-08-24 Sold (Public Records) $740,000 Public Records
• 2001-08-24 Sold (Public Records) $740,000 Public Records

Property tax history

+2.8%/yr

Latest (2022): $20,928 · +2.7% YoY. Source: county tax records.