4228 Mcpherson Ave #213 · St. Louis, MO 63108

$159,900

2 bd · 2.0 ba · 904 sqft · Condo public records · 109 Days on market

Built 1928 $177/sqft · 6% below area Est $195k · 18% under $305/mo HOA · 19% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +9.2/30.0
• 1% rule +5.1/10.0
• Rent growth +3.3/5.0
• DSCR +2.6/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Why rent when you can build equity in one of St. Louis’s most desirable neighborhoods? This sophisticated Central West End condo offers a rare "best of both worlds" opportunity: it is a perfect opportunity for an owner-occupant seeking a walkable lifestyle, yet its history as a successful rental and its low-overhead structure make it a premier addition to any investment portfolio. This second-floor condo is a light-filled sanctuary featuring durable bamboo floors and a cook’s dream kitchen. You’ll love the custom maple-wood cabinetry, granite counters, and stainless-steel appliances—including a center island. Has 2 spacious bedrooms and 2 full bathrooms. The primary suite is a true retreat with a walk-in closet and a full bath featuring double sinks, while the second bedroom is perfect for guests or a home office. Hall bath features tile floors, bathtub and washer-dryer. You get secured/gated parking, a private 9x5 basement storage unit, and a gorgeous common patio/BBQ area for entertaining. All of this is just steps away from Forest Park, BJC, and the vibrant dining scene on Euclid.

Key facts

• $305 HOA
• Built 1928
• Listed 108 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $-121 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (13.3% below list).
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $139k (13.3% below list) — sets the bar for cash-flow.

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 (+3.1%/yr); 153 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 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 ($55k/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 109 days — a 9% lower offer ($146k) 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.

Risks & watch-outs

• Watch-outs: built in 1928 — 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 $138,610 (13.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.01% ✓
• Cap rate: 5.39%
• Cash-on-cash: -3.23%
• DSCR: 0.86
• GRM: 8.3

CMA / ARV

• ARV (median comp): $194,804
• List price: $159,900
• Delta: -17.92%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.1% rent growth · sell at horizon

5-year hold

• IRR: -21.4%
• Equity multiple: 0.26×
• Total profit: $-33,222
• Equity at exit: $23,842

10-year hold

• IRR: -14.3%
• Equity multiple: 0.17×
• Total profit: $-37,326
• Equity at exit: $13,825

Cash invested: $44,772 (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 63108

• Home prices YoY: -33.1%
• Rents YoY: 3.1%
• Active inventory: 153
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,612 high
• Mortgage (P&I): −$839
• Tax from tax record: −$184 /mo · $2,203/yr
• Insurance: −$67
• HOA: −$305
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $-121

Break-even live

Break-even rent $1,764

Max offer price $138,610

Occupancy floor —

Sensitivity live

Price	-10% $-30	-5% $-75	+0% $-121	+5% $-166	+10% $-211
Rent	-10% $-248	-5% $-184	+0% $-121	+5% $-57	+10% $7
Rate	-1.0pp $-40	-0.5pp $-80	base $-121	+0.5pp $-162	+1.0pp $-204

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
322 N Boyle Ave Unit 3N St. Louis, MO	2.0	2.0	1115	$1,550	$1.39	44d	1	0.11mi
4355 Maryland Ave Saint Louis, MO	1.0	1.0	588	$1,200	$2.04	44d	4	0.16mi
462 Whittier St Apt 6 St. Louis, MO	1.0	1.0	598	$1,225	$2.05	20d	1	0.17mi
4355 Maryland Ave Saint Louis, MO	2.0	1.0	701	$1,700	$2.43	3d	8	0.17mi
4362 McPherson Ave Saint Louis, MO	1.0	1.0	900	$1,095	$1.22	44d	1	0.18mi
4242 Lindell Blvd Apt 102 St. Louis, MO	1.0	1.0	740	$1,300	$1.76	24d	1	0.19mi
4242 Lindell Blvd Saint Louis, MO	1.0–2.0	1.0–2.0	820	$1,625	$1.98	17d	4	0.19mi
4394 McPherson Ave Saint Louis, MO	2.0	1.0	850	$1,175	$1.38	44d	1	0.24mi
4140 Washington Blvd Saint Louis, MO	1.0–2.0	1.0–2.5	907	$2,035	$2.24	2d	1	0.26mi
4140 Washington Blvd Saint Louis, MO	1.0	1.0	495	$1,010	$2.04	44d	6	0.26mi
4359 W Pine Blvd Saint Louis, MO	2.0	1.0	1100	$1,995	$1.81	18d	1	0.29mi
4400 Lindell Blvd Saint Louis, MO	2.0	1.0–2.0	950	$2,540	$2.67	2d	15	0.33mi
4065 W Pine Blvd Saint Louis, MO	1.0–3.0	1.0–2.0	1075	$1,900	$1.77	44d	8	0.33mi
4466 Greenwich Ct St. Louis, MO	2.0	1.0–2.0	750	$1,422	$1.90	3d	6	0.41mi
4466 Olive St Saint Louis, MO	1.0–2.0	1.0–2.5	1222	$2,495	$2.04	2d	7	0.42mi
368 N Taylor Ave Saint Louis, MO	1.0	1.0	525	$1,000	$1.90	5d	5	0.44mi
4497 Pershing Ave Saint Louis, MO	2.0	1.0	579	$1,399	$2.42	3d	7	0.44mi
3960 W Pine Blvd Saint Louis, MO	2.0	1.0	850	$1,300	$1.53	44d	1	0.47mi
4515 Maryland Ave Saint Louis, MO	1.0	1.0	740	$1,265	$1.71	5d	4	0.50mi
3965 Laclede Ave Saint Louis, MO	1.0–2.0	1.0–2.0	872	$1,685	$1.93	3d	4	0.50mi
3906 Lindell Blvd St. Louis, MO	2.0–3.0	1.0	1072	$1,325	$1.24	4d	16	0.50mi
3906 Lindell Blvd St. Louis, MO	2.0–3.0	1.0	1072	$1,375	$1.28	44d	10	0.50mi
4160 Olive Blvd Motorworks Saint Louis, MO	1.0	1.0	555	$1,192	$2.15	11d	3	0.54mi
4615 Lindell Blvd Saint Louis, MO	1.0–2.0	1.0–2.5	1251	$2,075	$1.66	8d	6	0.60mi
4616 Lindell Blvd Saint Louis, MO	1.0	1.0	617	$1,450	$2.35	8d	6	0.62mi
13 S Vandeventer Ave St. Louis, MO	2.0	2.0	972	$1,400	$1.44	5d	1	0.63mi
4567 W Pine Blvd Saint Louis, MO	2.0–3.0	2.0	1326	$2,575	$1.94	3d	7	0.66mi
4535 Forest Park Ave Saint Louis, MO	1.0–2.0	1.0–2.0	1017	$2,645	$2.60	4d	15	0.68mi
2 Maryland Plz Saint Louis, MO	1.0–2.0	1.0–2.0	799	$1,820	$2.28	44d	4	0.70mi
7 Maryland Plz St. Louis, MO	1.0	1.0	513	$1,030	$2.01	44d	1	0.70mi
325-329 N Euclid Ave Unit 2819-B St. Louis, MO	1.0	1.0	700	$950	$1.36	18d	1	0.71mi
10 Maryland Plz St. Louis, MO	2.0	1.0	855	$1,800	$2.11	11d	2	0.71mi
4907 W Pine Blvd Saint Louis, MO	2.0	1.0–2.0	750	$1,649	$2.20	44d	1	0.72mi
386 N Euclid Ave Saint Louis, MO	1.0	1.0	590	$1,495	$2.53	5d	1	0.73mi
3717-3721 Westminster Pl St. Louis, MO	3.0	1.0–3.0	1343	$2,098	$1.56	17d	4	0.73mi
4909 Laclede Ave Saint Louis, MO	1.0	1.0	891	$2,450	$2.75	44d	1	0.74mi
3701 Lindell Blvd Saint Louis, MO	3.0	1.0–3.0	1073	$1,963	$1.83	2d	128	0.74mi
3701 Lindell Blvd Saint Louis, MO	3.0	1.0–3.0	1073	$1,966	$1.83	17d	81	0.74mi
401 N Euclid Ave St. Louis, MO	3.0	1.0	1025	$1,615	$1.58	2d	4	0.76mi
4949 W Pine Blvd St. Louis, MO	1.0–2.0	1.0–2.0	925	$2,225	$2.41	5d	12	0.77mi

HOA detail condo

• Monthly dues: $305 · $3,660/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-21
   days on market $159,900 Active 109 DOM
2. 2026-06-18
   days on market $159,900 Active 106 DOM
3. 2026-06-17
   days on market $159,900 Active 105 DOM
4. 2026-06-16
   days on market $159,900 Active 104 DOM
5. 2026-06-15
   days on market $159,900 Active 103 DOM
6. 2026-06-13
   days on market $159,900 Active 101 DOM
7. 2026-06-09
   days on market $159,900 Active 97 DOM
8. 2026-06-08
   days on market $159,900 Active 96 DOM
9. 2026-06-08
   days on market $159,900 Active 95 DOM
10. 2026-06-05
    days on market $159,900 Active 92 DOM
11. 2026-06-03
    days on market $159,900 Active 91 DOM
12. 2026-06-02
    days on market $159,900 Active 90 DOM
13. 2026-06-01
    days on market $159,900 Active 89 DOM
14. 2026-05-31
    days on market $159,900 Active 88 DOM
15. 2026-03-04
    listed $165,000 Active 1134-char remark

    Show marketing remark (1134 chars)

    Why rent when you can build equity in one of St. Louis’s most desirable neighborhoods? This sophisticated Central West End condo offers a rare "best of both worlds" opportunity: it is a perfect opportunity for an owner-occupant seeking a walkable lifestyle, yet its history as a successful rental and its low-overhead structure make it a premier addition to any investment portfolio. This second-floor condo is a light-filled sanctuary featuring durable bamboo floors and a cook’s dream kitchen. You’ll love the custom maple-wood cabinetry, granite counters, and stainless-steel appliances—including a center island. Has 2 spacious bedrooms and 2 full bathrooms. The primary suite is a true retreat with a walk-in closet and a full bath featuring double sinks, while the second bedroom is perfect for guests or a home office. Hall bath features tile floors, bathtub and washer-dryer. You get secured/gated parking, a private 9x5 basement storage unit, and a gorgeous common patio/BBQ area for entertaining. All of this is just steps away from Forest Park, BJC, and the vibrant dining scene on Euclid.

16. 2026-02-28
    historical $165,000 1134-char remark

    Show marketing remark (1134 chars)

    Why rent when you can build equity in one of St. Louis’s most desirable neighborhoods? This sophisticated Central West End condo offers a rare "best of both worlds" opportunity: it is a perfect opportunity for an owner-occupant seeking a walkable lifestyle, yet its history as a successful rental and its low-overhead structure make it a premier addition to any investment portfolio. This second-floor condo is a light-filled sanctuary featuring durable bamboo floors and a cook’s dream kitchen. You’ll love the custom maple-wood cabinetry, granite counters, and stainless-steel appliances—including a center island. Has 2 spacious bedrooms and 2 full bathrooms. The primary suite is a true retreat with a walk-in closet and a full bath featuring double sinks, while the second bedroom is perfect for guests or a home office. Hall bath features tile floors, bathtub and washer-dryer. You get secured/gated parking, a private 9x5 basement storage unit, and a gorgeous common patio/BBQ area for entertaining. All of this is just steps away from Forest Park, BJC, and the vibrant dining scene on Euclid.

17. 2017-03-28
    soldstatus $149,000
18. 2017-03-24
    soldstatus Closed 882-char remark

    Show marketing remark (882 chars)

    Why even THINK about renting when you can own this wonderful Central West End gem!!! It features a cook's dream kitchen with plenty of maple-wood cabinetry, granite counters and stainless steel appliances including a center island; you are bound to want to cook. A light-filled, open living space with durable bamboo floors invites you to relax in this spacious condo. The two bedrooms are newly carpeted. Master bedroom has a walk in closet and a full bath with double sinks. Hall bath features tile floors, shower and modern fixtures. In unit washer-dryer are included in this package. Landscaped patio area in back is perfect for relaxing and BBQ's! 1-car secure, gated parking, lower-level locked (9x5) storage unit and a wonderful walk-able lifestyle in the Central West End, close to Forest Park, Barnes and Children's Hospital, Interstates and St. Louis College of Pharmacy.

19. 2017-03-06
    status Pending 882-char remark

    Show marketing remark (882 chars)

    Why even THINK about renting when you can own this wonderful Central West End gem!!! It features a cook's dream kitchen with plenty of maple-wood cabinetry, granite counters and stainless steel appliances including a center island; you are bound to want to cook. A light-filled, open living space with durable bamboo floors invites you to relax in this spacious condo. The two bedrooms are newly carpeted. Master bedroom has a walk in closet and a full bath with double sinks. Hall bath features tile floors, shower and modern fixtures. In unit washer-dryer are included in this package. Landscaped patio area in back is perfect for relaxing and BBQ's! 1-car secure, gated parking, lower-level locked (9x5) storage unit and a wonderful walk-able lifestyle in the Central West End, close to Forest Park, Barnes and Children's Hospital, Interstates and St. Louis College of Pharmacy.

20. 2017-02-27
    historical Option 882-char remark

    Show marketing remark (882 chars)

    Why even THINK about renting when you can own this wonderful Central West End gem!!! It features a cook's dream kitchen with plenty of maple-wood cabinetry, granite counters and stainless steel appliances including a center island; you are bound to want to cook. A light-filled, open living space with durable bamboo floors invites you to relax in this spacious condo. The two bedrooms are newly carpeted. Master bedroom has a walk in closet and a full bath with double sinks. Hall bath features tile floors, shower and modern fixtures. In unit washer-dryer are included in this package. Landscaped patio area in back is perfect for relaxing and BBQ's! 1-car secure, gated parking, lower-level locked (9x5) storage unit and a wonderful walk-able lifestyle in the Central West End, close to Forest Park, Barnes and Children's Hospital, Interstates and St. Louis College of Pharmacy.

21. 2017-02-27
    listed $149,000 Active 882-char remark

    Show marketing remark (882 chars)

    Why even THINK about renting when you can own this wonderful Central West End gem!!! It features a cook's dream kitchen with plenty of maple-wood cabinetry, granite counters and stainless steel appliances including a center island; you are bound to want to cook. A light-filled, open living space with durable bamboo floors invites you to relax in this spacious condo. The two bedrooms are newly carpeted. Master bedroom has a walk in closet and a full bath with double sinks. Hall bath features tile floors, shower and modern fixtures. In unit washer-dryer are included in this package. Landscaped patio area in back is perfect for relaxing and BBQ's! 1-car secure, gated parking, lower-level locked (9x5) storage unit and a wonderful walk-able lifestyle in the Central West End, close to Forest Park, Barnes and Children's Hospital, Interstates and St. Louis College of Pharmacy.

22. 2011-07-18
    soldstatus $137,000

ⓘ 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: $2,203 · $184/mo
• Projected year-2 tax: $2,203 · $184/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $19,340
• − Mortgage interest: −$8,957
• − Property taxes: −$2,203
• − Insurance: −$800
• − Repairs & maintenance: −$1,547
• − Management: −$1,547
• − HOA: −$3,660
• − Depreciation: −$4,652
• Taxable loss: −$4,025
• Est. tax savings @ 24.0%: +$966
• After-tax cash flow: $-480/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): 21,336
• Household income: $55,147
• Rent vs Own: 73.3% rent · 26.7% own
• Severe rent burden: 2180.0

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 0.62)
• Race & ethnicity: White 54% Black 26% Asian 13% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Lithuanian 4% Romanian 3% Iranian 2%
• Foreign-born: 13% · China, Canada, South Korea
• Languages at home: 85% English-only · Chinese 3% Other Asian/Pacific 3% Spanish 3%

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: ▼ -111.22%
• Current HPI: 225.1081
• Rent YoY: ▲ 3.10%
• 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

+20.4% since first listed

8 events — show timeline

• 2026-03-04 Listed $165,000 MARIS as Distributed by MLS Grid
• 2026-02-28 Coming Soon $165,000 MARIS as Distributed by MLS Grid
• 2017-03-28 Sold (Public Records) $149,000 Public Records
• 2017-03-24 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2017-03-06 Pending — MARIS as Distributed by MLS Grid
• 2017-02-27 Contingent — MARIS as Distributed by MLS Grid
• 2017-02-27 Listed $149,000 MARIS as Distributed by MLS Grid
• 2011-07-18 Sold (Public Records) $137,000 Public Records

Property tax history

+2.4%/yr

Latest (2023): $2,203 · +0.1% YoY. Source: county tax records.