1208 Ann Ave · St. Louis, MO 63104

$269,900

4 bd · 2.0 ba · 1,350 sqft · MultiFamily public records · 5 Days on market

Built 1890 1,398 sqft lot $200/sqft · at area comps Est $375k · 28% 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 +18.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +4.9/10.0
• Rent growth +4.4/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Always talked about living in Soulard but figured it was out of budget? Not this one. This 2-family is basically a stumble home from McGurk’s, Molly’s & Tucker’s—aka prime Soulard territory. And the best part? It’s the ultimate first-time buyer move: live in one unit while your tenant upstairs helps pay your mortgage. That’s what we call working smarter, not harder. The building was renovated in the ‘90s, so the big-ticket stuff is already solid. The first-floor unit is vacant and move-in ready, while the upstairs unit is already rented—meaning income starts rolling in on day one. Each apartment has a spacious living room & dining

Key facts

• Patio for grilling
• In unit laundry
• Fenced backyard

Tags

• VACANT AND MOVE IN READY
• IN UNIT LAUNDRY
• FENCED BACKYARD
• PATIO FOR GRILLING

Property features AI

Finance

• Other: Property address: 1208 Ann Ave, Saint Louis, MO 63104; Neighborhood: Soulard; Annual tax noted (not included as financial detail): listed
• Financial info: Seller may consider concessions

Exterior

• Utilities: Public water; Electric service: Ameren
• Home design: Residential income property; 2–4 units building; Two 2-bedroom units
• Construction: Brick construction; Built area (above grade) approximately 1,910 finished square feet
• Exterior features: Located in the Soulard neighborhood

Interior

• Bedrooms: Each unit has 2 bedrooms
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: No basement; Unit count: 1 building with 2 units

🏷️ Possibly a rental listed for sale. The $269,900 price doesn't fit this home's estimated sale value (~$374,566) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $270k.

Deal economics

• At list price, monthly cash flow is $276 ($3k/yr) — positive. Per door: $138/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $267k (1.2% below list).
• Recommended offer: $267k (1.2% below list) — sets the bar for 1% rule.
• Cap rate 7.5% 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.
• Zoned schools: Shenandoah Elem. (math 5% / reading 5%, grade F, #1,072 of 1,115 statewide, top 98%, 136 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 (+7.5%/yr); 165 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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).
• At $2,666/mo this rent would consume 47% of the median local household income ($69k/yr) (locally 1429% 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 $2k of loan paydown is wiped out by about $8k 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 + 7.5% rent growth), your $76k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1890 — 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 $266,600 (1.2% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 0.99% ✗
• Cap rate: 7.52%
• Cash-on-cash: 4.39%
• DSCR: 1.20
• GRM: 8.4

CMA / ARV

• ARV (median comp): $374,566
• List price: $269,900
• Delta: -27.94%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.52% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.82×
• Total profit: $-13,430
• Equity at exit: $40,243

10-year hold

• IRR: 9.7%
• Equity multiple: 1.90×
• Total profit: $68,171
• Equity at exit: $23,336

Cash invested: $75,572 (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 63104

• Rents YoY: 7.5%
• Active inventory: 165
• Price-to-rent: 16.9×

Monthly cashflow live

• Estimated rent: $2,666 high
• Mortgage (P&I): −$1,415
• Tax from tax record: −$302 /mo · $3,622/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $276

Break-even live

Break-even rent $2,316

Max offer price $269,900

Occupancy floor 85%

Sensitivity live

Price	-10% $429	-5% $353	+0% $276	+5% $200	+10% $124
Rent	-10% $66	-5% $171	+0% $276	+5% $382	+10% $487
Rate	-1.0pp $412	-0.5pp $345	base $276	+0.5pp $207	+1.0pp $135

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,666
Total (2 units)			$2,666

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
919 Allen Ave Unit R Saint Louis, MO	3.0	1.5	1708	$2,100	$1.23	21d	1	0.28mi
2018 Ann Ave Unit 1F St. Louis, MO	3.0	1.0	1300	$1,450	$1.12	44d	1	0.29mi
900 Allen Ave Saint Louis, MO	3.0	2.0	1676	$2,399	$1.43	18d	1	0.31mi
2300 S 9th St Unit 23002-N St. Louis, MO	3.0	2.0	1300	$1,600	$1.23	44d	1	0.32mi
2027 Russell Blvd Saint Louis, MO	3.0	2.5	1687	$2,100	$1.24	12d	1	0.33mi
2027 Russell Blvd Saint Louis, MO	3.0	2.5	1687	$2,100	$1.24	20d	1	0.33mi
2029 Russell Blvd Saint Louis, MO	3.0	3.0	1500	$1,900	$1.27	44d	1	0.34mi
713 Barton St Unit 1031874P St. Louis, MO	3.0	2.0	1593	$3,856	$2.42	8d	1	0.38mi
2253 Indiana Ave Saint Louis, MO	4.0	3.5	1760	$2,600	$1.48	8d	1	0.56mi
2327 Texas Ave Apt 205 St. Louis, MO	3.0	2.0	1375	$2,095	$1.52	18d	1	0.71mi
2327 Texas Ave Unit 211 St. Louis, MO	3.0	2.0	1075	$1,945	$1.81	44d	1	0.71mi
2347 Park Ave Saint Louis, MO	3.0	3.5	1608	$2,150	$1.34	44d	1	0.91mi
2641 Saint Vincent Ave Saint Louis, MO	3.0	1.5	1260	$1,600	$1.27	44d	1	0.95mi
2664 Nebraska Ave Unit 2F Saint Louis, MO	3.0	1.0	1350	$1,150	$0.85	24d	1	1.03mi
3450 Wisconsin Ave Saint Louis, MO	1.0–3.0	1.0–2.0	1219	$2,300	$1.89	2d	15	1.19mi
3510 California Ave Saint Louis, MO	3.0	2.0	1800	$1,200	$0.67	44d	1	1.49mi

Listing history 2 events

1. 2026-05-18
   status Pending 1340-char remark
2. 2026-05-13
   listed $269,900 Active 1340-char remark

ⓘ 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: $3,622 · $302/mo
• Projected year-2 tax: $3,622 · $302/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 6/10 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: $31,992
• − Mortgage interest: −$15,119
• − Property taxes: −$3,622
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,559
• − Management: −$2,559
• − Depreciation: −$7,852
• Taxable loss: −$1,068
• Est. tax savings @ 24.0%: +$256
• After-tax cash flow: $3,574/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): 19,007
• Household income: $68,764
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 1429.0

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 0.60)
• Race & ethnicity: White 51% Black 37% Two or more races 6% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Other Indo-European 2% Spanish 1% German/W. Germanic 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: ▼ -159.69%
• Current HPI: 252.3452
• Rent YoY: ▲ 7.52%
• 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

2 events — show timeline

• 2026-05-18 Pending — MARIS as Distributed by MLS Grid
• 2026-05-13 Listed $269,900 MARIS as Distributed by MLS Grid

Property tax history

+2.9%/yr

Latest (2024): $3,622 · +4.8% YoY. Source: county tax records.