4054 S Spring Ave · St. Louis, MO 63116

$155,000

None bd · 2.0 ba · 2,250 sqft · MultiFamily public records · 59 Days on market

Built 1927 4,199 sqft lot $69/sqft · 13% below area Est $178k · 13% 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 +28.0/30.0
• ARV discount +13.4/15.0
• DSCR +10.0/10.0
• 1% rule +7.1/10.0
• Rent growth +3.2/5.0
• 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 MLS

Prime Investment Opportunity in South City! Solid and spacious brick 2-family, each spacious unit offers 2 bedrooms and 1 bath, a separate dining room, sunrooms, with both units currently fully occupied—instant cash flow from day one! Recent updates and features include PVC plumbing stack, hardwood flooring, stained glass windows, and a walk-out basement. Off-street parking is available at the rear of the building. Convenient location with quick access to I-55 & I-44, shopping, dining, and Park. Property to be sold as-is, seller to make no repairs or inspections. Don’t miss this opportunity to add a strong, income-producing property to your portfolio—schedule your showing today!

Key facts

• 4,199 sq ft lot
• Built 1927
• Listed 58 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $155k.

Deal economics

• At list price, monthly cash flow is $484 ($6k/yr) — positive. Per door: $242/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $150k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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.
• Market conditions: Rents rising (+2.6%/yr); 255 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 37% of the median local income ($61k/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.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $43k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $90k; list at $155k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — 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 $150,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% 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 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.21% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.38%
• DSCR: 1.60
• GRM: 6.9

CMA / ARV

• ARV (median comp): $178,353
• List price: $155,000
• Delta: -13.09%
• 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
4242 S 38th St	0.17mi	—/—	2,250 (0%)	2mo	$208,000	$92	90
3640 Liermann Ave	0.14mi	—/—	2,460 (+9%)	1mo	$231,900	$94	77
3643 Winnebago St	0.48mi	4/2.0	2,250 (0%)	3mo	$120,000	$53	76
3855 Meramec St	0.04mi	6/2.0	1,978 (-12%)	3mo	$170,000	$86	75
3651 Winnebago St	0.48mi	4/2.0	2,250 (0%)	4mo	$200,000	$89	75
3442 Gasconade St	0.32mi	5/2.5	2,184 (-3%)	5mo	$119,990	$55	74
3405 Meramec St	0.42mi	6/2.0	2,178 (-3%)	3mo	$259,900	$119	73
3744 Gravois Ave	0.52mi	—/—	2,180 (-3%)	2mo	$120,000	$55	69
3921 Miami St	0.65mi	4/2.0	2,304 (+2%)	0mo	$350,000	$152	66
3919-3921 Dunnica Ave	0.37mi	4/2.0	2,554 (+14%)	3mo	$175,000	$69	58
3939 Gravois Ave	0.53mi	2/2.0	1,970 (-12%)	2mo	$115,000	$58	53
3106 Chippewa St	0.71mi	4/2.0	2,490 (+11%)	2mo	$109,900	$44	47

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 · 2.62% rent growth · sell at horizon

5-year hold

• IRR: 3.0%
• Equity multiple: 1.11×
• Total profit: $4,962
• Equity at exit: $23,111

10-year hold

• IRR: 12.2%
• Equity multiple: 1.95×
• Total profit: $41,017
• Equity at exit: $13,402

Cash invested: $43,400 (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 63116

• Rents YoY: 2.6%
• Active inventory: 255
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $1,875 high
• Mortgage (P&I): −$813
• Tax from tax record: −$120 /mo · $1,441/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $484

Break-even live

Break-even rent $1,263

Max offer price $155,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,876
Total (2 units)			$1,875

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4222 S 38th St Unit 4222 St. Louis, MO	3.0	2.0	1836	$1,400	$0.76	20d	1	0.14mi
3637 Meramec St Saint Louis, MO	3.0	1.5	1632	$1,925	$1.18	17d	1	0.25mi
3458 Alberta St Saint Louis, MO	1.0	1.0	2244	$770	$0.34	12d	1	0.32mi
4135 S Compton Ave Saint Louis, MO	3.0	2.0	2104	$1,600	$0.76	44d	1	0.53mi
4145 S Compton Ave Saint Louis, MO	3.0	2.0	1656	$1,520	$0.92	44d	1	0.53mi
3653 S Grand Blvd Saint Louis, MO	1.0	1.0	2050	$1,350	$0.66	2d	4	0.54mi
4250 Michigan Ave Saint Louis, MO	2.0	1.0	2184	$1,200	$0.55	44d	1	0.67mi
3807 Potomac St Saint Louis, MO	3.0	1.0	2588	$1,300	$0.50	7d	1	0.73mi
3807 Potomac St Saint Louis, MO	3.0	1.0	2588	$1,100	$0.43	44d	1	0.73mi
3458 Giles Ave Saint Louis, MO	3.0	2.5	2204	$2,400	$1.09	7d	1	0.76mi
4657 Idaho Ave Unit 4659 St. Louis, MO	2.0	2.0	1668	$1,295	$0.78	24d	1	0.78mi
3908 McDonald Ave Saint Louis, MO	3.0	2.0	1927	$2,500	$1.30	4d	1	0.88mi
3510 California Ave Saint Louis, MO	3.0	2.0	1800	$1,200	$0.67	44d	1	1.14mi
3429 Ohio Ave Saint Louis, MO	3.0	3.0	1938	$2,250	$1.16	16d	1	1.28mi
755 Dover Pl Saint Louis, MO	2.0	1.0	2750	$1,000	$0.36	44d	1	1.33mi
3228 Arsenal St Unit 1f St. Louis, MO	2.0	1.0	2702	$1,395	$0.52	24d	1	1.40mi

Listing history 18 events

1. 2026-06-18
   days on market $155,000 Active 59 DOM
2. 2026-06-17
   days on market $155,000 Active 58 DOM
3. 2026-06-16
   days on market $155,000 Active 57 DOM
4. 2026-06-15
   days on market $155,000 Active 56 DOM
5. 2026-06-13
   days on market $155,000 Active 54 DOM
6. 2026-06-09
   days on market $155,000 Active 50 DOM
7. 2026-06-08
   days on market $155,000 Active 49 DOM
8. 2026-06-07
   days on market $155,000 Active 48 DOM
9. 2026-06-05
   days on market $155,000 Active 45 DOM
10. 2026-06-03
    days on market $155,000 Active 44 DOM
11. 2026-06-02
    days on market $155,000 Active 43 DOM
12. 2026-06-01
    days on market $155,000 Active 42 DOM
13. 2026-05-31
    days on market $155,000 Active 41 DOM
14. 2026-04-21
    listed $155,000 Active 709-char remark

    Show marketing remark (709 chars)

    Prime Investment Opportunity in South City! Solid and spacious brick 2-family, each spacious unit offers 2 bedrooms and 1 bath, a separate dining room, sunrooms, with both units currently fully occupied—instant cash flow from day one! Recent updates and features include PVC plumbing stack, hardwood flooring, stained glass windows, and a walk-out basement. Off-street parking is available at the rear of the building. Convenient location with quick access to I-55 & I-44, shopping, dining, and Park. Property to be sold as-is, seller to make no repairs or inspections. Don’t miss this opportunity to add a strong, income-producing property to your portfolio—schedule your showing today!

15. 2026-04-21
    historical $155,000 709-char remark

    Show marketing remark (709 chars)

    Prime Investment Opportunity in South City! Solid and spacious brick 2-family, each spacious unit offers 2 bedrooms and 1 bath, a separate dining room, sunrooms, with both units currently fully occupied—instant cash flow from day one! Recent updates and features include PVC plumbing stack, hardwood flooring, stained glass windows, and a walk-out basement. Off-street parking is available at the rear of the building. Convenient location with quick access to I-55 & I-44, shopping, dining, and Park. Property to be sold as-is, seller to make no repairs or inspections. Don’t miss this opportunity to add a strong, income-producing property to your portfolio—schedule your showing today!

16. 2025-09-17
    listed $160,000 Active
17. 2025-09-15
    historical
18. 2009-11-06
    soldstatus $90,000

ⓘ 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: $1,441 · $120/mo
• Projected year-2 tax: $1,504 · $125/mo
• Expected delta: +$63/yr (+$5/mo · 4.3%)

ⓘ 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 ≥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: $22,500
• − Mortgage interest: −$8,682
• − Property taxes: −$1,441
• − Insurance: −$775
• − Repairs & maintenance: −$1,800
• − Management: −$1,800
• − Depreciation: −$4,509
• Taxable income: $3,493
• Est. tax owed @ 24.0%: −$838
• After-tax cash flow: $4,967/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): 42,170
• Household income: $61,433
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 1923.0

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 54% Black 27% Hispanic / Latino 10% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 4% Romanian 2% Italian 2%
• Foreign-born: 11% · Canada, Vietnam, Philippines
• Languages at home: 85% English-only · Spanish 6% Vietnamese 2% Arabic 2%

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: ▼ -271.19%
• Current HPI: 215.7108
• Rent YoY: ▲ 2.62%
• 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

+72.2% since first listed

5 events — show timeline

• 2026-04-21 Listed $155,000 MARIS as Distributed by MLS Grid
• 2026-04-21 Coming Soon $155,000 MARIS as Distributed by MLS Grid
• 2025-09-17 Listed $160,000 MARIS as Distributed by MLS Grid
• 2025-09-15 Coming Soon — MARIS as Distributed by MLS Grid
• 2009-11-06 Sold (Public Records) $90,000 Public Records

Property tax history

+3.7%/yr

Latest (2024): $1,441 · +5.1% YoY. Source: county tax records.