4228 Clarence Ave · St. Louis, MO 63115

$59,900

16 bd · 4.0 ba · 3,536 sqft · MultiFamily public records · 7 Days on market

Built 1916 6,198 sqft lot Est $103k · 42% 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Multi-family units

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

Listing remarks

Great investment opportunity for investors looking to add a value-add property to their portfolio. This 4-unit building offers tremendous upside potential and is ideal for a buy-and-hold strategy. The property requires a full rehabilitation, but once completed, each 1-bedroom, 1-bathroom unit (approximately 875 sq. ft. ) has the potential to rent for $800–$900 per month, creating an estimated gross rental income of up to $3,600 monthly. Whether you're an experienced investor or looking for your next project, this property presents an excellent opportunity to build equity and generate long-term cash flow. Don't miss your chance to unlock the potential this multi-family property has to

Key facts

• 6,198 sq ft lot
• Built 1916
• Listed 6 days

Property features AI

Finance

• Other: Total living area reported as 3,536 (source: public records); Expected active date: 2026-06-12
• Financial info: Tax information provided (amount and year withheld from summary)

Exterior

• Parking: Parking details not provided
• Security: Security details not provided
• Utilities: Public water
• Home design: Residential income property (2–4 units)
• Construction: Brick construction
• Exterior features: Lot approximately 0.1423 acres

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Four 1-bedroom units
• Flooring: Flooring details not provided
• Bathrooms: Main and upper level bathrooms information not provided
• Heating & cooling: Wall/window unit(s) for cooling
• Interior features: Unfinished basement
• Laundry & utility: Laundry details not provided

🏷️ Possibly a rental listed for sale. The $59,900 price doesn't fit this home's estimated sale value (~$102,544) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/?-bath units multifamily listed at $60k.

Deal economics

• At list price, monthly cash flow is $4k ($44k/yr) — positive. Per door: $912/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $60k).
• Cap rate 79.4% 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 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: Ashland Elem. And Br. (math 2% / reading 2%, grade F, #1,099 of 1,115 statewide, top 100%, 226 students, 99% FRL); Vashon High (math 2% / reading 2%, grade F, #520 of 521 statewide, top 100%, 568 students, 100% FRL) — zoned schools average 99% FRL vs 80% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 97 active listings in the ZIP; lower-income renter base — watch delinquency; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• At $5,086/mo this rent would consume 199% of the median local household income ($31k/yr) (locally 1655% 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 $414 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $17k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1916 — 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 $59,900

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 1916 — 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: 8.49% ✓
• Cap rate: 79.40%
• Cash-on-cash: 261.10%
• DSCR: 12.62
• GRM: 1.0

CMA / ARV

• ARV (on-the-fly): $102,544
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4200 College Ave	0.72mi	16/16.0	3,412 (-4%)	0mo	$100,000	$29	40
4216 E Margaretta Ave	0.41mi	16/16.0	3,876 (+10%)	8mo	$35,000	$9	38
4681 Kossuth Ave	0.58mi	16/16.0	3,254 (-8%)	6mo	$199,900	$61	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 14.28×
• Total profit: $222,770
• Equity at exit: $8,931

10-year hold

• IRR: —
• Equity multiple: 30.42×
• Total profit: $493,469
• Equity at exit: $5,179

Cash invested: $16,772 (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 63115

• Home prices YoY: -2.6%
• Active inventory: 97
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $5,086 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$30 /mo · $354/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,068
• Net cashflow: $3,649

Break-even live

Break-even rent $467

Max offer price $59,900

Occupancy floor 23%

Sensitivity live

Price	-10% $3,683	-5% $3,666	+0% $3,649	+5% $3,632	+10% $3,615
Rent	-10% $3,248	-5% $3,448	+0% $3,649	+5% $3,850	+10% $4,051
Rate	-1.0pp $3,679	-0.5pp $3,665	base $3,649	+0.5pp $3,634	+1.0pp $3,618

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

Units	Beds	Baths	Est. rent
▸ 4× units	4	—	$5,084
Total (4 units)			$5,086

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $59,900 Active 7 DOM
2. 2026-06-17
   days on market $59,900 Active 6 DOM
3. 2026-06-16
   days on market $59,900 Active 5 DOM
4. 2026-06-15
   days on market $59,900 Active 4 DOM
5. 2026-06-13
   remarks 693-char remark
6. 2026-06-13
   listed $59,900 Active 2 DOM

ⓘ 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: $354 · $30/mo
• Projected year-2 tax: $581 · $48/mo
• Expected delta: +$227/yr (+$19/mo · 63.9%)

ⓘ 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 ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $61,032
• − Mortgage interest: −$3,355
• − Property taxes: −$354
• − Insurance: −$300
• − Repairs & maintenance: −$4,883
• − Management: −$4,883
• − Depreciation: −$1,743
• Taxable income: $45,515
• Est. tax owed @ 24.0%: −$10,924
• After-tax cash flow: $32,868/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): 14,488
• Household income: $30,622
• Rent vs Own: 57.7% rent · 42.3% own
• Severe rent burden: 1655.0

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: Predominantly Black (95%)
• Race & ethnicity: Black 95% White 2% Two or more races 2%
• Foreign-born: 0%

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: ▼ -3.42%
• Current HPI: 127.3403
• Rent YoY: —
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-12 Listed $59,900 MARIS as Distributed by MLS Grid
• 2026-06-10 Coming Soon $59,900 MARIS as Distributed by MLS Grid

Property tax history

-0.2%/yr

Latest (2024): $354 · +4.8% YoY. Source: county tax records.