3453 Pennsylvania Ave · St. Louis, MO 63118

$210,000

4 bd · 4.0 ba · 3,536 sqft · MultiFamily public records · 43 Days on market

Built 1924 4,961 sqft lot $59/sqft · 16% below area Est $250k · 16% under

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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
• ARV discount +14.7/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Great location and very close to the bustling Cherokee business district. Wonderful rental property with many updates. It has some updated kitchens and baths and would be a great source of rental income. Enjoy the new reduced price ready for sale!! Put this one on your buyers list. Long list of updates over time!! Fully occupied. Call for any additional details.

Key facts

• 4,961 sq ft lot
• 4 parking spots
• Built 1924

Property features AI

Finance

• Other: Seller may consider concessions
• Financial info: Residential income property with 4 total units; Each unit is a 1-bedroom, 1-bathroom (4 units total); All 4 units currently leased

Exterior

• Parking: Four parking spaces; Additional parking; Concrete parking; Off-street parking; On-street parking
• Utilities: Public water; Sewer available; Electricity available (single phase, 220 volts); Natural gas available; Cable available
• Home design: Residential income property (2–4 units); Apartment building; Two stories; Updated/remodeled condition; Flat roof; Brick construction
• Construction: Brick construction; Flat roof
• Exterior features: City lot; Level lot; Near public transit

Interior

• Kitchen: Oven; Free-standing gas range; Refrigerator; Gas water heater
• Bedrooms: One-bedroom units (main/upper level bedroom count not specified)
• Flooring: Laminate
• Bathrooms: One bathroom per unit
• Heating & cooling: Forced air heating (natural gas); Ceiling fan(s); Window air conditioning units
• Interior features: Ceiling fans; Eat-in kitchen; Blinds; Double-pane windows
• Laundry & utility: Washer hookup; Gas dryer hookup; Laundry in basement

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $210k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $204k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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 B — 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: Froebel Elem. (math 8% / reading 8%, grade F, #1,052 of 1,115 statewide, top 95%, 176 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 (+4.9%/yr); 240 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $1k of loan paydown is wiped out by about $6k 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 $59k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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 $88k; list at $210k implies a 139% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $203,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — 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. 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.
5. 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.
6. 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: 1.40% ✓
• Cap rate: 12.36%
• Cash-on-cash: 21.66%
• DSCR: 1.96
• GRM: 6.0

CMA / ARV

• ARV (median comp): $250,326
• List price: $210,000
• Delta: -16.11%
• 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
3526 Minnesota Ave	0.08mi	4/4.0	3,516 (-1%)	1mo	$220,000	$63	94
3446 Texas Ave Unit 1,2,3,4	0.40mi	4/4.0	3,656 (+3%)	5mo	$135,000	$37	71
3315 Iowa Ave	0.32mi	4/4.0	3,744 (+6%)	15mo	$290,000	$77	62
4015 California Ave	0.70mi	4/4.0	3,500 (-1%)	11mo	$235,000	$67	56
3720 Winnebago St	0.75mi	4/4.0	3,340 (-6%)	2mo	$280,000	$84	54
3246-48 Nebraska Ave	0.28mi	5/4.0 (+1)	4,046 (+14%)	8mo	$339,000	$84	52
3435 Alberta St	0.67mi	4/4.0	3,850 (+9%)	5mo	$160,000	$42	50
3146 Nebraska Ave	0.48mi	5/4.0 (+1)	3,100 (-12%)	4mo	$349,900	$113	49
3136 Chippewa St	0.43mi	3/2.0 (-1)	3,922 (+11%)	13mo	$249,000	$63	38
2704 Arsenal St	0.60mi	5/4.0 (+1)	4,066 (+15%)	5mo	$235,000	$58	38
3654 Phillips Pl	0.71mi	4/4.0	3,094 (-12%)	11mo	$50,000	$16	37
3414 S Spring Ave	0.73mi	4/4.0	4,000 (+13%)	12mo	$475,000	$119	33

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: 1.67×
• Total profit: $39,192
• Equity at exit: $31,312

10-year hold

• IRR: 26.0%
• Equity multiple: 3.47×
• Total profit: $145,156
• Equity at exit: $18,157

Cash invested: $58,800 (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: 11.9×

Monthly cashflow live

• Estimated rent: $2,938 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$71 /mo · $850/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$617
• Net cashflow: $1,061

Break-even live

Break-even rent $1,594

Max offer price $210,000

Occupancy floor 59%

Sensitivity live

Price	-10% $1,180	-5% $1,121	+0% $1,061	+5% $1,002	+10% $943
Rent	-10% $829	-5% $945	+0% $1,061	+5% $1,177	+10% $1,294
Rate	-1.0pp $1,167	-0.5pp $1,115	base $1,061	+0.5pp $1,007	+1.0pp $952

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,938
Total (2 units)			$2,938

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2643 Wyoming St Saint Louis, MO	3.0	2.5	2592	$2,600	$1.00	44d	1	0.50mi
3807 Potomac St Saint Louis, MO	3.0	1.0	2588	$1,300	$0.50	8d	1	0.82mi
3807 Potomac St Saint Louis, MO	3.0	1.0	2588	$1,100	$0.43	44d	1	0.82mi
2648 California Ave Saint Louis, MO	4.0	2.0	2458	$2,000	$0.81	24d	1	0.90mi
2811 Missouri Ave Saint Louis, MO	4.0	2.5	2673	$3,622	$1.36	44d	1	0.93mi
2048 Russell Blvd Saint Louis, MO	4.0	2.0	3024	$2,300	$0.76	44d	1	1.46mi

Listing history 28 events

1. 2026-06-18
   days on market $210,000 Active 43 DOM
2. 2026-06-17
   days on market $210,000 Active 42 DOM
3. 2026-06-16
   days on market $210,000 Active 41 DOM
4. 2026-06-15
   days on market $210,000 Active 40 DOM
5. 2026-06-13
   pricedays on market $210,000 Active 38 DOM
6. 2026-06-09
   days on market $215,000 Active 34 DOM
7. 2026-06-08
   days on market $215,000 Active 33 DOM
8. 2026-06-07
   days on market $215,000 Active 32 DOM
9. 2026-06-05
   days on market $215,000 Active 29 DOM
10. 2026-06-03
    days on market $215,000 Active 28 DOM
11. 2026-06-02
    days on market $215,000 Active 27 DOM
12. 2026-06-01
    days on market $215,000 Active 26 DOM
13. 2026-05-31
    days on market $215,000 Active 25 DOM
14. 2026-05-06
    listed $215,000 Active 364-char remark
15. 2025-11-23
    price $199,500
16. 2025-09-21
    listed $225,000 Active
17. 2025-02-01
    historical
18. 2024-09-18
    status Active
19. 2024-08-14
    historical Active Under Contract
20. 2024-08-06
    listed $224,500 Active
21. 2023-12-14
    historical
22. 2023-09-13
    listed $245,000 Active
23. 2013-01-04
    soldstatus $88,000
24. 2009-02-19
    soldstatus $69,175
25. 2004-03-05
    soldstatus $90,000
26. 2001-11-16
    soldstatus
27. 1997-05-01
    soldstatus
28. 1990-02-13
    soldstatus $35,000

ⓘ 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: $850 · $71/mo
• Projected year-2 tax: $2,037 · $170/mo
• Expected delta: +$1,187/yr (+$99/mo · 139.6%)

ⓘ 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: $35,256
• − Mortgage interest: −$11,763
• − Property taxes: −$850
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,820
• − Management: −$2,820
• − Depreciation: −$6,109
• Taxable income: $9,843
• Est. tax owed @ 24.0%: −$2,362
• After-tax cash flow: $10,375/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

+500.0% since first listed

16 events — show timeline

• 2026-06-12 Price Changed $210,000 MARIS as Distributed by MLS Grid
• 2026-05-06 Listed $215,000 MARIS as Distributed by MLS Grid
• 2025-11-23 Price Changed $199,500 MARIS as Distributed by MLS Grid
• 2025-09-21 Listed $225,000 MARIS as Distributed by MLS Grid
• 2025-02-01 Delisted — MARIS as Distributed by MLS Grid
• 2024-09-18 Relisted — MARIS as Distributed by MLS Grid
• 2024-08-14 Contingent — MARIS as Distributed by MLS Grid
• 2024-08-06 Listed $224,500 MARIS as Distributed by MLS Grid
• 2023-12-14 Delisted — MARIS as Distributed by MLS Grid
• 2023-09-13 Listed $245,000 MARIS as Distributed by MLS Grid
• 2013-01-04 Sold (Public Records) $88,000 Public Records
• 2009-02-19 Sold (Public Records) $69,175 Public Records
• 2004-03-05 Sold (Public Records) $90,000 Public Records
• 2001-11-16 Sold (Public Records) — Public Records
• 1997-05-01 Sold (Public Records) — Public Records
• 1990-02-13 Sold (Public Records) $35,000 Public Records

Property tax history

+3.8%/yr

Latest (2024): $850 · +5.0% YoY. Source: county tax records.