3142 Michigan Ave · St. Louis, MO 63118

$173,000

3 bd · 2.0 ba · 1,768 sqft · Townhouse public records · 217 Days on market

Built 1910 2,604 sqft lot $98/sqft · 23% below area Est $335k · 48% under

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Why this score? — see what drove the C+ 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 +23.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +4.7/10.0
• 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 MLS

Welcome to 3142 Michigan St, a charming townhome in St. Louis. This unique property is ready for you to make it your own. Whether you're an aspiring homeowner or an investor seeking a rental opportunity, this home is a blank canvas awaiting your personal touch. It features tall ceilings, offering a sense of openness, and off-street parking for added convenience. The level backyard is perfect for creating a garden, play area, or retreat. Previously a successful rental, this townhome is a fantastic opportunity for transformation with your own design. Embrace the chance to create a home that reflects your style and personality. With its desirable location, 3142 Michigan St is the start of your next adventure. Don’t miss the opportunity to bring your vision to life in this promising St. Louis townhome!

Key facts

• 2 parking spots
• Built 1910
• Listed 217 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $173k.

Deal economics

• At list price, monthly cash flow is $313 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (2.8% below list).
• Recommended offer: $152k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 C — 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; 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).
• This rent runs 35% 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 $1k of loan paydown is wiped out by about $5k 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 217 days — a 12% lower offer ($152k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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.
• Current owner paid $96k; list at $173k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $152,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 217 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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: 0.97% ✗
• Cap rate: 8.46%
• Cash-on-cash: 7.75%
• DSCR: 1.34
• GRM: 8.6

CMA / ARV

• ARV (median comp): $334,852
• List price: $173,000
• Delta: -48.34%
• 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
2320 Louisiana Ave	0.58mi	3/2.0	1,700 (-4%)	2mo	$350,000	$206	65
3531 Cherokee St	0.56mi	3/2.5	1,802 (+2%)	5mo	$249,000	$138	65
3451 Arsenal St	0.33mi	3/2.5	1,666 (-6%)	14mo	$309,900	$186	62
2240 Nebraska Ave	0.66mi	3/2.0	1,744 (-1%)	13mo	$250,000	$143	56
3430 Ohio Ave	0.64mi	3/2.0	1,803 (+2%)	13mo	$250,000	$139	56
2124 Withnell Ave	0.72mi	2/2.5 (-1)	1,802 (+2%)	3mo	$277,500	$154	54
2351 Virginia Ave	0.51mi	3/2.5	1,650 (-7%)	11mo	$369,000	$224	54
2353 Virginia Ave	0.51mi	3/2.5	1,650 (-7%)	13mo	$369,000	$224	52
2712 Potomac St	0.67mi	3/2.5	1,924 (+9%)	12mo	$299,900	$156	42
2906 Mcnair Ave	0.75mi	2/2.5 (-1)	1,876 (+6%)	10mo	$249,900	$133	40
2302 S Compton Ave	0.58mi	2/2.5 (-1)	1,925 (+9%)	14mo	$269,900	$140	39
2825 Shenandoah Ave	0.65mi	3/2.5	1,900 (+8%)	23mo	$285,000	$150	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: -2.7%
• Equity multiple: 0.90×
• Total profit: $-4,932
• Equity at exit: $25,795

10-year hold

• IRR: 8.8%
• Equity multiple: 1.72×
• Total profit: $34,921
• Equity at exit: $14,958

Cash invested: $48,440 (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
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,682 high
• Mortgage (P&I): −$907
• Tax from tax record: −$37 /mo · $441/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $313

Break-even live

Break-even rent $1,286

Max offer price $173,000

Occupancy floor 76%

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: $43,250
• Closing costs: $5,190
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3009 Pennsylvania Ave Saint Louis, MO	1.0–2.0	1.0–2.0	928	$1,195	$1.29	20d	6	0.17mi
3215 Oregon Ave Unit 1F St. Louis, MO	2.0	1.0	1373	$1,150	$0.84	18d	1	0.27mi
2664 Nebraska Ave Unit 2F Saint Louis, MO	3.0	1.0	1350	$1,150	$0.85	23d	1	0.42mi
3410 Virginia Ave Unit B St. Louis, MO	2.0	2.0	1442	$1,375	$0.95	16d	1	0.43mi
2636 Arsenal St St. Louis, MO	2.0	1.0	1500	$1,400	$0.93	23d	1	0.44mi
2634 Arsenal St St. Louis, MO	2.0	1.0	1500	$1,400	$0.93	23d	1	0.44mi
2643 Wyoming St Saint Louis, MO	3.0	2.5	2592	$2,600	$1.00	44d	1	0.44mi
3411 Cherokee St St. Louis, MO	4.0	2.0	1568	$1,850	$1.18	44d	1	0.45mi
2602 Minnesota Ave Saint Louis, MO	2.0	1.5	1664	$1,950	$1.17	4d	1	0.48mi
2648 California Ave Saint Louis, MO	4.0	2.0	2458	$2,000	$0.81	23d	1	0.49mi
3628 Wyoming St Unit 2F St. Louis, MO	4.0	1.0	1700	$1,950	$1.15	44d	1	0.54mi
3429 Ohio Ave Saint Louis, MO	3.0	3.0	1938	$2,250	$1.16	16d	1	0.59mi
3540 Michigan Ave Saint Louis, MO	4.0	2.0	1758	$1,800	$1.02	1d	1	0.60mi
3510 California Ave Saint Louis, MO	3.0	2.0	1800	$1,200	$0.67	44d	1	0.61mi
2327 Texas Ave Apt 205 St. Louis, MO	3.0	2.0	1375	$2,095	$1.52	18d	1	0.71mi
3458 Giles Ave Saint Louis, MO	3.0	2.5	2204	$2,400	$1.09	7d	1	0.73mi
3526 S Spring Ave Saint Louis, MO	4.0	2.0	2244	$2,877	$1.28	44d	1	0.86mi
1917 Arsenal St Saint Louis, MO	2.0	1.0	1239	$1,250	$1.01	20d	1	0.87mi
2267 Indiana Ave Saint Louis, MO	2.0	1.5	1900	$2,195	$1.16	3d	1	0.87mi
2253 Indiana Ave Saint Louis, MO	4.0	3.5	1760	$2,600	$1.48	7d	1	0.89mi
3807 Potomac St Saint Louis, MO	3.0	1.0	2588	$1,100	$0.43	44d	1	0.90mi
3807 Potomac St Saint Louis, MO	3.0	1.0	2588	$1,300	$0.50	7d	1	0.90mi
3450 Wisconsin Ave Saint Louis, MO	1.0–3.0	1.0–2.0	1219	$2,300	$1.89	1d	15	0.93mi
3802 Flad Ave St. Louis, MO	3.0	1.0	1350	$1,499	$1.11	7d	1	0.94mi
3908 McDonald Ave Saint Louis, MO	3.0	2.0	1927	$2,500	$1.30	4d	1	0.95mi
1921 California Ave Unit Rear St. Louis, MO	2.0	1.5	1500	$1,550	$1.03	7d	1	0.98mi
3131 Keokuk St #3131 Saint Louis, MO	3.0	2.0	1500	$1,475	$0.98	14d	1	1.00mi
3319 S 18th St Saint Louis, MO	2.0	1.5	1368	$1,600	$1.17	44d	1	1.00mi
3925 Shenandoah Ave St. Louis, MO	3.0	1.0	1250	$1,500	$1.20	2d	1	1.01mi
3146 Keokuk St Saint Louis, MO	3.0	1.0	1528	$1,500	$0.98	23d	1	1.03mi
2219 McNair Ave Saint Louis, MO	2.0	1.0	1336	$1,335	$1.00	44d	1	1.04mi
3914 Michigan Ave Saint Louis, MO	2.0	1.0	1376	$1,150	$0.84	44d	1	1.04mi
3628 Shaw Blvd Unit 1F St. Louis, MO	3.0	2.0	1350	$1,995	$1.48	7d	1	1.10mi
2018 Ann Ave Unit 1F St. Louis, MO	3.0	1.0	1300	$1,450	$1.12	44d	1	1.12mi
2027 Russell Blvd Saint Louis, MO	3.0	2.5	1687	$2,100	$1.24	11d	1	1.18mi
2027 Russell Blvd Saint Louis, MO	3.0	2.5	1687	$2,100	$1.24	19d	1	1.18mi
2029 Russell Blvd Saint Louis, MO	3.0	3.0	1500	$1,900	$1.27	44d	1	1.19mi
4060 Cleveland Ave Unit 3W St. Louis, MO	2.0	1.0	1250	$1,495	$1.20	44d	1	1.20mi
2005 Russell Blvd Saint Louis, MO	2.0	1.0	1300	$1,400	$1.08	14d	1	1.21mi
4005 S Grand Blvd Saint Louis, MO	4.0	1.0	1323	$1,150	$0.87	16d	1	1.23mi

Listing history 19 events

1. 2026-06-09
   days on market $173,000 Active 217 DOM
2. 2026-06-08
   days on market $173,000 Active 216 DOM
3. 2026-06-08
   days on market $173,000 Active 215 DOM
4. 2026-06-05
   days on market $173,000 Active 212 DOM
5. 2026-06-03
   days on market $173,000 Active 211 DOM
6. 2026-06-02
   days on market $173,000 Active 210 DOM
7. 2026-06-01
   days on market $173,000 Active 209 DOM
8. 2026-05-31
   days on market $173,000 Active 208 DOM
9. 2025-12-10
   price $173,000 815-char remark

   Show marketing remark (815 chars)

   Welcome to 3142 Michigan St, a charming townhome in St. Louis. This unique property is ready for you to make it your own. Whether you're an aspiring homeowner or an investor seeking a rental opportunity, this home is a blank canvas awaiting your personal touch. It features tall ceilings, offering a sense of openness, and off-street parking for added convenience. The level backyard is perfect for creating a garden, play area, or retreat. Previously a successful rental, this townhome is a fantastic opportunity for transformation with your own design. Embrace the chance to create a home that reflects your style and personality. With its desirable location, 3142 Michigan St is the start of your next adventure. Don’t miss the opportunity to bring your vision to life in this promising St. Louis townhome!

10. 2025-11-04
    listed $175,000 Active 815-char remark

    Show marketing remark (815 chars)

    Welcome to 3142 Michigan St, a charming townhome in St. Louis. This unique property is ready for you to make it your own. Whether you're an aspiring homeowner or an investor seeking a rental opportunity, this home is a blank canvas awaiting your personal touch. It features tall ceilings, offering a sense of openness, and off-street parking for added convenience. The level backyard is perfect for creating a garden, play area, or retreat. Previously a successful rental, this townhome is a fantastic opportunity for transformation with your own design. Embrace the chance to create a home that reflects your style and personality. With its desirable location, 3142 Michigan St is the start of your next adventure. Don’t miss the opportunity to bring your vision to life in this promising St. Louis townhome!

11. 2025-10-31
    historical $175,000 815-char remark

    Show marketing remark (815 chars)

    Welcome to 3142 Michigan St, a charming townhome in St. Louis. This unique property is ready for you to make it your own. Whether you're an aspiring homeowner or an investor seeking a rental opportunity, this home is a blank canvas awaiting your personal touch. It features tall ceilings, offering a sense of openness, and off-street parking for added convenience. The level backyard is perfect for creating a garden, play area, or retreat. Previously a successful rental, this townhome is a fantastic opportunity for transformation with your own design. Embrace the chance to create a home that reflects your style and personality. With its desirable location, 3142 Michigan St is the start of your next adventure. Don’t miss the opportunity to bring your vision to life in this promising St. Louis townhome!

12. 2021-05-17
    soldstatus
13. 2017-06-19
    soldstatus $96,000
14. 2017-06-12
    status Pending 706-char remark

    Show marketing remark (706 chars)

    Renovated town home in Tower Grove east! 1st floor features a full living and dining room, half bath and eat in kitchen! Great lighting, insulated windows, big rooms with open spaces. Kitchen has been updated with a full stainless steel appliance package, maple cabinets and a large pantry - back door leads to a covered porch, fenced yard and parking pad. Upstairs has three bedrooms with ceiling fans, closets and new carpeting. Master bedroom has a skylight and private porch. Hall bath is lovely with a Jacuzzi tub, marble tile floor and large vanity. Clean full basement with great systems! 5 year old white rubber roof. Great low maintenance home with over 1700 sq ft of premium living space!

15. 2017-06-08
    soldstatus Closed 706-char remark

    Show marketing remark (706 chars)

    Renovated town home in Tower Grove east! 1st floor features a full living and dining room, half bath and eat in kitchen! Great lighting, insulated windows, big rooms with open spaces. Kitchen has been updated with a full stainless steel appliance package, maple cabinets and a large pantry - back door leads to a covered porch, fenced yard and parking pad. Upstairs has three bedrooms with ceiling fans, closets and new carpeting. Master bedroom has a skylight and private porch. Hall bath is lovely with a Jacuzzi tub, marble tile floor and large vanity. Clean full basement with great systems! 5 year old white rubber roof. Great low maintenance home with over 1700 sq ft of premium living space!

16. 2017-05-08
    historical Contingent (No Kickout) 706-char remark

    Show marketing remark (706 chars)

    Renovated town home in Tower Grove east! 1st floor features a full living and dining room, half bath and eat in kitchen! Great lighting, insulated windows, big rooms with open spaces. Kitchen has been updated with a full stainless steel appliance package, maple cabinets and a large pantry - back door leads to a covered porch, fenced yard and parking pad. Upstairs has three bedrooms with ceiling fans, closets and new carpeting. Master bedroom has a skylight and private porch. Hall bath is lovely with a Jacuzzi tub, marble tile floor and large vanity. Clean full basement with great systems! 5 year old white rubber roof. Great low maintenance home with over 1700 sq ft of premium living space!

17. 2017-04-04
    listed $100,000 Active 706-char remark

    Show marketing remark (706 chars)

    Renovated town home in Tower Grove east! 1st floor features a full living and dining room, half bath and eat in kitchen! Great lighting, insulated windows, big rooms with open spaces. Kitchen has been updated with a full stainless steel appliance package, maple cabinets and a large pantry - back door leads to a covered porch, fenced yard and parking pad. Upstairs has three bedrooms with ceiling fans, closets and new carpeting. Master bedroom has a skylight and private porch. Hall bath is lovely with a Jacuzzi tub, marble tile floor and large vanity. Clean full basement with great systems! 5 year old white rubber roof. Great low maintenance home with over 1700 sq ft of premium living space!

18. 2004-11-02
    soldstatus
19. 2002-06-06
    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: $441 · $37/mo
• Projected year-2 tax: $1,678 · $140/mo
• Expected delta: +$1,237/yr (+$103/mo · 280.8%)

ⓘ 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: $20,186
• − Mortgage interest: −$9,691
• − Property taxes: −$441
• − Insurance: −$865
• − Repairs & maintenance: −$1,615
• − Management: −$1,615
• − Depreciation: −$5,033
• Taxable income: $927
• Est. tax owed @ 24.0%: −$223
• After-tax cash flow: $3,532/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

+73.0% since first listed

11 events — show timeline

• 2025-12-10 Price Changed $173,000 MARIS as Distributed by MLS Grid
• 2025-11-04 Listed $175,000 MARIS as Distributed by MLS Grid
• 2025-10-31 Coming Soon $175,000 MARIS as Distributed by MLS Grid
• 2021-05-17 Sold (Public Records) — Public Records
• 2017-06-19 Sold (Public Records) $96,000 Public Records
• 2017-06-12 Pending — MARIS as Distributed by MLS Grid
• 2017-06-08 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2017-05-08 Contingent — MARIS as Distributed by MLS Grid
• 2017-04-04 Listed $100,000 MARIS as Distributed by MLS Grid
• 2004-11-02 Sold (Public Records) — Public Records
• 2002-06-06 Sold (Public Records) — Public Records

Property tax history

+2.4%/yr

Latest (2024): $441 · +4.8% YoY. Source: county tax records.