2121 Chippewa St · St. Louis, MO 63118

$22,900

2 bd · 1.0 ba · 1,436 sqft · SingleFamily public records · 114 Days on market

Built 1886 3,375 sqft lot $16/sqft · 82% below area ↓ 25% since listing

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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

Listing remarks MLS

Outstanding renovation potential! Located at 2121 Chippewa in St. Louis, this 2-bedroom, 1 and a half-bathroom home offers a great opportunity for investors or buyers looking to restore and customize a classic city property. The front entry opens into a small foyer that leads to the living room, dining room, kitchen, and a convenient half bathroom on the main floor. Upstairs, you’ll find two bedrooms and a full bathroom, providing a functional layout ready for your vision and updates. Situated along the Chippewa corridor in South St. Louis, this property is surrounded by historic brick homes, established neighborhoods, and convenient city amenities. The area offers easy access to local restaurants, shops, and everyday conveniences, as well as nearby parks, walking trails, and community spaces. With close proximity to major roadways, downtown St. Louis, and popular entertainment districts, this location provides strong appeal for homeowners and investors alike. Bring your ideas and transform this property into a great investment or future residence! ALL information is deemed reliable but is not guaranteed and should be verified by the buyer and/or buyers agent before making an offer.

Key facts

• Historic brick homes
• Local restaurants
• Renovation potential

Tags

• RENOVATION POTENTIAL
• HISTORIC BRICK HOMES
• CONVENIENT CITY AMENITIES
• LOCAL RESTAURANTS
• WALKING TRAILS
• COMMUNITY SPACES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $23k.

Deal economics

• At list price, monthly cash flow is $731 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $23k).
• Recommended offer: $21k (9.0% below list) — sets the bar for market timing.
• Cap rate 44.6% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $158 of loan paydown is wiped out by about $687 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($21k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1886 — 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 $20,839 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 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 1886 — 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. 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?
6. 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.
7. 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.
8. 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: 4.93% ✓
• Cap rate: 44.57%
• Cash-on-cash: 136.72%
• DSCR: 7.08
• GRM: 1.7

CMA / ARV

• ARV (median comp): $129,565
• List price: $22,900
• Delta: -82.33%
• 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
2119 Chippewa St	0.01mi	2/1.0	1,372 (-4%)	2mo	$160,000	$117	90
3431 Indiana Ave	0.43mi	2/2.0	1,340 (-7%)	0mo	$279,900	$209	65
3434 Illinois Ave	0.42mi	3/2.5 (+1)	1,438 (+0%)	7mo	$300,000	$209	64
3647 Wisconsin Ave	0.17mi	3/1.5 (+1)	1,632 (+14%)	3mo	$49,900	$31	60
3523 Illinois Ave	0.31mi	2/2.0	1,636 (+14%)	6mo	$229,900	$141	53
3231 Ohio Ave	0.73mi	2/2.0	1,510 (+5%)	1mo	$239,900	$159	53
2845 Chippewa St	0.49mi	3/1.5 (+1)	1,598 (+11%)	0mo	$205,000	$128	51
3615 Nebraska Ave	0.57mi	3/1.5 (+1)	1,546 (+8%)	6mo	$175,900	$114	48
3428 Indiana Ave	0.42mi	3/2.0 (+1)	1,642 (+14%)	4mo	$224,900	$137	44
3253 Texas Ave	0.67mi	3/2.5 (+1)	1,536 (+7%)	5mo	$160,000	$104	42
3831 Oregon Ave	0.47mi	3/2.5 (+1)	1,636 (+14%)	3mo	$249,900	$153	41
3030 Chippewa St	0.63mi	3/2.0 (+1)	1,588 (+11%)	6mo	$79,900	$50	39

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: 8.02×
• Total profit: $45,023
• Equity at exit: $3,414

10-year hold

• IRR: —
• Equity multiple: 17.93×
• Total profit: $108,526
• Equity at exit: $1,980

Cash invested: $6,412 (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: 1.7×

Monthly cashflow live

• Estimated rent: $1,129 high
• Mortgage (P&I): −$120
• Tax from tax record: −$32 /mo · $384/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $731

Break-even live

Break-even rent $205

Max offer price $22,900

Occupancy floor 30%

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: $5,725
• Closing costs: $687
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3700 S Broadway St Unit 2N St. Louis, MO	2.0	1.0	975	$925	$0.95	23d	1	0.11mi
3627 Missouri Ave Unit A St. Louis, MO	1.0	1.0	1470	$1,195	$0.81	23d	1	0.18mi
3739 Ohio Ave Unit A St. Louis, MO	2.0	1.0	900	$1,000	$1.11	4d	1	0.30mi
3739 Ohio Ave Unit B St. Louis, MO	1.0	1.0	897	$900	$1.00	4d	1	0.30mi
3450 Wisconsin Ave Saint Louis, MO	1.0–3.0	1.0–2.0	1219	$1,788	$1.47	1d	15	0.42mi
2214-2216 Cherokee St Unit Cherokee 2214-2nd Floor St. Louis, MO	1.0	1.0	1000	$1,100	$1.10	23d	1	0.47mi
2806 Osage St Apt 2E St. Louis, MO	1.0	1.0	992	$750	$0.76	43d	1	0.51mi
3510 California Ave Saint Louis, MO	3.0	2.0	1800	$1,200	$0.67	43d	1	0.52mi
3828 Nebraska Ave St. Louis, MO	1.0	1.0	1000	$750	$0.75	23d	1	0.52mi
3530 Oregon Ave Unit 3532 St. Louis, MO	2.0	1.0	1035	$825	$0.80	43d	1	0.54mi
3331 Salena St Unit 33332-F St. Louis, MO	1.0	1.0	875	$999	$1.14	43d	1	0.56mi
3534 Nebraska Ave Saint Louis, MO	2.0	1.0	1100	$1,100	$1.00	43d	1	0.59mi
3319 S 18th St Saint Louis, MO	2.0	1.5	1368	$1,600	$1.17	43d	1	0.62mi
1907 Utah St Unit 2 St. Louis, MO	1.0	1.0	1000	$1,450	$1.45	43d	1	0.65mi
4127 Oregon Ave Unit 2F St. Louis, MO	2.0	1.0	1000	$1,203	$1.20	23d	1	0.66mi
3922 Minnesota Ave Saint Louis, MO	2.0	1.0	1000	$925	$0.93	43d	1	0.67mi
3855 Minnesota Ave Unit B St. Louis, MO	2.0	1.0	900	$850	$0.94	43d	1	0.68mi
2839 Cherokee St Saint Louis, MO	1.0	1.0	900	$1,195	$1.33	43d	1	0.70mi
3116 Keokuk St Saint Louis, MO	2.0	1.0	900	$850	$0.94	2d	1	0.71mi
3116 Keokuk St Unit 1F St. Louis, MO	2.0	1.0	900	$850	$0.94	1d	1	0.71mi
2902 Cherokee St Unit 2906-2F St. Louis, MO	1.0	1.0	918	$1,150	$1.25	43d	1	0.72mi
4238 California Ave St. Louis, MO	2.0	1.0	1000	$1,300	$1.30	43d	1	0.72mi
3914 Michigan Ave Saint Louis, MO	2.0	1.0	1376	$1,150	$0.84	43d	1	0.73mi
3131 Keokuk St #3131 Saint Louis, MO	3.0	2.0	1500	$1,475	$0.98	14d	1	0.74mi
3146 Keokuk St Saint Louis, MO	3.0	1.0	1528	$1,500	$0.98	23d	1	0.77mi
4126 Minnesota Ave Unit 2f St. Louis, MO	2.0	1.0	1150	$1,028	$0.89	23d	1	0.78mi
3259 Oregon Ave St. Louis, MO	2.0	1.0	1200	$1,000	$0.83	43d	1	0.78mi
4130 Minnesota Ave Saint Louis, MO	2.0	1.0	1234	$975	$0.79	14d	1	0.78mi
3829 S Compton Ave Unit B St. Louis, MO	2.0	1.0	1040	$1,050	$1.01	23d	1	0.80mi
3829 S Compton Ave Unit A St. Louis, MO	2.0	1.0	1040	$1,000	$0.96	16d	1	0.80mi
4127 Minnesota Ave Unit 1F St. Louis, MO	3.0	1.0	1155	$1,200	$1.04	43d	1	0.81mi
4127 Minnesota Ave Unit 2F St. Louis, MO	3.0	1.0	1155	$1,200	$1.04	43d	1	0.81mi
3233 Oregon Ave Unit 2 St. Louis, MO	2.0	1.0	1215	$995	$0.82	23d	1	0.82mi
3506 S Compton Ave Saint Louis, MO	2.0	2.0	1100	$1,300	$1.18	10d	1	0.84mi
1917 Arsenal St Saint Louis, MO	2.0	1.0	1239	$1,250	$1.01	19d	1	0.85mi
4308 Nebraska Ave Unit A St. Louis, MO	1.0	1.0	1012	$1,148	$1.13	7d	1	0.85mi
4308 Nebraska Ave Unit B St. Louis, MO	2.0	2.0	1012	$1,148	$1.13	7d	1	0.85mi
3636 Virginia Ave St. Louis, MO	1.0	1.0	902	$795	$0.88	43d	1	0.85mi
3215 Oregon Ave Unit 1F St. Louis, MO	2.0	1.0	1373	$1,150	$0.84	17d	1	0.85mi
3138 Gasconade St Unit 3138 2W St. Louis, MO	1.0	1.0	950	$850	$0.89	17d	1	0.85mi

Listing history 16 events

1. 2026-06-17
   status $22,900 Pending 114 DOM
2. 2026-06-16
   days on market $22,900 Active 114 DOM
3. 2026-06-15
   days on market $22,900 Active 113 DOM
4. 2026-06-13
   days on market $22,900 Active 111 DOM
5. 2026-06-09
   days on market $22,900 Active 107 DOM
6. 2026-06-08
   days on market $22,900 Active 106 DOM
7. 2026-06-08
   days on market $22,900 Active 105 DOM
8. 2026-06-05
   days on market $22,900 Active 102 DOM
9. 2026-06-03
   days on market $22,900 Active 101 DOM
10. 2026-06-02
    days on market $22,900 Active 100 DOM
11. 2026-06-01
    days on market $22,900 Active 99 DOM
12. 2026-05-31
    days on market $22,900 Active 98 DOM
13. 2026-04-23
    price $29,900 1207-char remark

    Show marketing remark (1207 chars)

    Outstanding renovation potential! Located at 2121 Chippewa in St. Louis, this 2-bedroom, 1 and a half-bathroom home offers a great opportunity for investors or buyers looking to restore and customize a classic city property. The front entry opens into a small foyer that leads to the living room, dining room, kitchen, and a convenient half bathroom on the main floor. Upstairs, you’ll find two bedrooms and a full bathroom, providing a functional layout ready for your vision and updates. Situated along the Chippewa corridor in South St. Louis, this property is surrounded by historic brick homes, established neighborhoods, and convenient city amenities. The area offers easy access to local restaurants, shops, and everyday conveniences, as well as nearby parks, walking trails, and community spaces. With close proximity to major roadways, downtown St. Louis, and popular entertainment districts, this location provides strong appeal for homeowners and investors alike. Bring your ideas and transform this property into a great investment or future residence! ALL information is deemed reliable but is not guaranteed and should be verified by the buyer and/or buyers agent before making an offer.

14. 2026-03-23
    price $34,900 1207-char remark

    Show marketing remark (1207 chars)

    Outstanding renovation potential! Located at 2121 Chippewa in St. Louis, this 2-bedroom, 1 and a half-bathroom home offers a great opportunity for investors or buyers looking to restore and customize a classic city property. The front entry opens into a small foyer that leads to the living room, dining room, kitchen, and a convenient half bathroom on the main floor. Upstairs, you’ll find two bedrooms and a full bathroom, providing a functional layout ready for your vision and updates. Situated along the Chippewa corridor in South St. Louis, this property is surrounded by historic brick homes, established neighborhoods, and convenient city amenities. The area offers easy access to local restaurants, shops, and everyday conveniences, as well as nearby parks, walking trails, and community spaces. With close proximity to major roadways, downtown St. Louis, and popular entertainment districts, this location provides strong appeal for homeowners and investors alike. Bring your ideas and transform this property into a great investment or future residence! ALL information is deemed reliable but is not guaranteed and should be verified by the buyer and/or buyers agent before making an offer.

15. 2026-02-23
    listed $39,900 Active 1207-char remark

    Show marketing remark (1207 chars)

    Outstanding renovation potential! Located at 2121 Chippewa in St. Louis, this 2-bedroom, 1 and a half-bathroom home offers a great opportunity for investors or buyers looking to restore and customize a classic city property. The front entry opens into a small foyer that leads to the living room, dining room, kitchen, and a convenient half bathroom on the main floor. Upstairs, you’ll find two bedrooms and a full bathroom, providing a functional layout ready for your vision and updates. Situated along the Chippewa corridor in South St. Louis, this property is surrounded by historic brick homes, established neighborhoods, and convenient city amenities. The area offers easy access to local restaurants, shops, and everyday conveniences, as well as nearby parks, walking trails, and community spaces. With close proximity to major roadways, downtown St. Louis, and popular entertainment districts, this location provides strong appeal for homeowners and investors alike. Bring your ideas and transform this property into a great investment or future residence! ALL information is deemed reliable but is not guaranteed and should be verified by the buyer and/or buyers agent before making an offer.

16. 2026-02-23
    historical $39,900 1207-char remark

    Show marketing remark (1207 chars)

    Outstanding renovation potential! Located at 2121 Chippewa in St. Louis, this 2-bedroom, 1 and a half-bathroom home offers a great opportunity for investors or buyers looking to restore and customize a classic city property. The front entry opens into a small foyer that leads to the living room, dining room, kitchen, and a convenient half bathroom on the main floor. Upstairs, you’ll find two bedrooms and a full bathroom, providing a functional layout ready for your vision and updates. Situated along the Chippewa corridor in South St. Louis, this property is surrounded by historic brick homes, established neighborhoods, and convenient city amenities. The area offers easy access to local restaurants, shops, and everyday conveniences, as well as nearby parks, walking trails, and community spaces. With close proximity to major roadways, downtown St. Louis, and popular entertainment districts, this location provides strong appeal for homeowners and investors alike. Bring your ideas and transform this property into a great investment or future residence! ALL information is deemed reliable but is not guaranteed and should be verified by the buyer and/or buyers agent before making an offer.

ⓘ 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: $384 · $32/mo
• Projected year-2 tax: $384 · $32/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: $13,551
• − Mortgage interest: −$1,283
• − Property taxes: −$384
• − Insurance: −$114
• − Repairs & maintenance: −$1,084
• − Management: −$1,084
• − Depreciation: −$666
• Taxable income: $8,936
• Est. tax owed @ 24.0%: −$2,145
• After-tax cash flow: $6,622/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

-25.1% since first listed

4 events — show timeline

• 2026-04-23 Price Changed $29,900 MARIS as Distributed by MLS Grid
• 2026-03-23 Price Changed $34,900 MARIS as Distributed by MLS Grid
• 2026-02-23 Listed $39,900 MARIS as Distributed by MLS Grid
• 2026-02-23 Coming Soon $39,900 MARIS as Distributed by MLS Grid

Property tax history

+2.5%/yr

Latest (2024): $384 · +4.8% YoY. Source: county tax records.