3610 Cass Ave · St. Louis, MO 63113

$100,000

10 bd · 2.0 ba · 4,544 sqft · MultiFamily · 107 Days on market

Built 1989 Poor condition 4,543 sqft lot $22/sqft · 76% above area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +3.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Schools +1.2/10.0
• Condition / age +1.0/5.0

Multi-family units

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

Listing remarks MLS

Location, location, location! Outstanding investment opportunity! 5 MINS FROM DOWNTOWN, shopping centers, SLU and NGA. 16,000 vehicles/day, this building has tremendous potential. 20,000 sqft retail property. Ideal location for your business, including with residential units around the corner. So, you purchase retail space and more. Located in the north Grand close to fox theater. Welcome to your next investment. Located in the St Louis Opportunity Zone for Development Incentives.

Key facts

• 4,543 sq ft lot
• Built 1989
• Listed 106 days

What this means for you Summary

Snapshot

• This is a 10-bed/2.0-bath multifamily listed at $100k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $601 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.5% 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 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: 58 active listings in the ZIP; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.1%/yr); year-one equity from $691 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 (-2.1% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.

Recommended offer $91,000 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.64% ✓
• Cap rate: 13.50%
• Cash-on-cash: 25.74%
• DSCR: 2.15
• GRM: 5.1

CMA / ARV

• ARV (median comp): $56,724
• List price: $100,000
• Delta: 76.29%
• Verdict: OVERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

-2.14% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.4%
• Equity multiple: 1.92×
• Total profit: $25,703
• Equity at exit: $18,765

10-year hold

• IRR: 28.3%
• Equity multiple: 3.68×
• Total profit: $74,955
• Equity at exit: $15,414

Cash invested: $28,000 (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 63113

• Home prices YoY: -2.0%
• Active inventory: 58
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,635 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $601

Break-even live

Break-even rent $875

Max offer price $100,000

Occupancy floor 58%

Sensitivity live

Price	-10% $670	-5% $635	+0% $601	+5% $566	+10% $532
Rent	-10% $472	-5% $536	+0% $601	+5% $665	+10% $730
Rate	-1.0pp $651	-0.5pp $626	base $601	+0.5pp $575	+1.0pp $548

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $100,000 Active 107 DOM
2. 2026-06-18
   days on market $100,000 Active 104 DOM
3. 2026-06-17
   days on market $100,000 Active 103 DOM
4. 2026-06-16
   days on market $100,000 Active 102 DOM
5. 2026-06-15
   days on market $100,000 Active 101 DOM
6. 2026-06-13
   days on market $100,000 Active 99 DOM
7. 2026-06-09
   days on market $100,000 Active 95 DOM
8. 2026-06-08
   days on market $100,000 Active 94 DOM
9. 2026-06-08
   days on market $100,000 Active 93 DOM
10. 2026-06-05
    days on market $100,000 Active 90 DOM
11. 2026-06-03
    days on market $100,000 Active 89 DOM
12. 2026-06-02
    days on market $100,000 Active 88 DOM
13. 2026-06-01
    days on market $100,000 Active 87 DOM
14. 2026-05-31
    days on market $100,000 Active 86 DOM
15. 2026-03-07
    listed $100,000 Active 485-char remark

    Show marketing remark (485 chars)

    Location, location, location! Outstanding investment opportunity! 5 MINS FROM DOWNTOWN, shopping centers, SLU and NGA. 16,000 vehicles/day, this building has tremendous potential. 20,000 sqft retail property. Ideal location for your business, including with residential units around the corner. So, you purchase retail space and more. Located in the north Grand close to fox theater. Welcome to your next investment. Located in the St Louis Opportunity Zone for Development Incentives.

16. 2026-03-06
    historical $100,000 485-char remark

    Show marketing remark (485 chars)

    Location, location, location! Outstanding investment opportunity! 5 MINS FROM DOWNTOWN, shopping centers, SLU and NGA. 16,000 vehicles/day, this building has tremendous potential. 20,000 sqft retail property. Ideal location for your business, including with residential units around the corner. So, you purchase retail space and more. Located in the north Grand close to fox theater. Welcome to your next investment. Located in the St Louis Opportunity Zone for Development Incentives.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $19,622
• − Mortgage interest: −$5,602
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$1,570
• − Management: −$1,570
• − Depreciation: −$2,909
• Taxable income: $5,972
• Est. tax owed @ 24.0%: −$1,433
• After-tax cash flow: $5,775/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.

Condition & rehab AI · 8 photos

Poor 20/100 Extensive rehab

This property is in poor condition and requires extensive repairs and maintenance to improve its value for resale and rental.

Repairs flagged

• Major roof — The roof appears to be in poor condition and may require replacement or significant repairs.
• Major exterior walls — The exterior walls are in poor condition and may require significant repairs or replacement.
• Major landscaping — The landscaping and curb appeal are poor, and significant work is needed to improve the overall appearance of the property.

Value-add opportunities

• Both roof replacement — Replacing the roof would significantly improve the property's condition and increase its value for both resale and rental.
• Both exterior wall repairs — Repairing the exterior walls would improve the property's condition and increase its value for both resale and rental.
• Both landscaping and curb appeal — Improving the landscaping and curb appeal would enhance the property's overall appearance and increase its value for both resale and rental.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition and may require replacement or significant repairs.	Major	$15,000–50,000
exterior walls · The exterior walls are in poor condition and may require significant repairs or replacement.	Major	$15,000–50,000
landscaping · The landscaping and curb appeal are poor, and significant work is needed to improve the overall appearance of the property.	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both roof replacement — Replacing the roof would significantly improve the property's condition and increase its value for both resale and rental. ↑
• Both exterior wall repairs — Repairing the exterior walls would improve the property's condition and increase its value for both resale and rental. ↑
• Both landscaping and curb appeal — Improving the landscaping and curb appeal would enhance the property's overall appearance and increase its value for both resale and rental. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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
• City population: 283,259
• Population (ZIP): 11,610

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 (91%)
• Race & ethnicity: Black 91% White 6% Two or more races 2% Hispanic / Latino 1%
• Foreign-born: 2% · Canada

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: ▼ -2.14%
• Current HPI: 107.1335
• Rent YoY: —
• Metro: —
• 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

• 2026-03-07 Listed $100,000 MARIS as Distributed by MLS Grid
• 2026-03-06 Coming Soon $100,000 MARIS as Distributed by MLS Grid