3456 Gasconade · St. Louis, MO 63118

$168,500

4 bd · 2.0 ba · — sqft · MultiFamily · 91 Days on market

Built 1923 Fair condition Est $206k · 18% under

---

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 +27.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.7/10.0
• 1% rule +7.6/10.0
• Rent growth +3.7/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• 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 MLS

Investor Delight on BEAUTIFUL TREE-LINED BLOCK --- HUGH VALUE ADD OPPORTUNITY! This charmimg property features a spacious covered front porch and showcases stunning wood flooring and original trim that highlight its timeless character.The building offers two bedrooms per unit.Updated electrical service, and several newer windows for added efficiency.A TWO CAR OVERSIZED GARAGE.This property a hugh value add opportunity, making it a deal for investors seeking stong upside potential or buyer looking to customize thier residence while generating income. Conveniently located near parks, restaurants, highways and all neighborhood amenities.

Key facts

• Covered front porch
• Wood flooring
• Original trim

Tags

• COVERED FRONT PORCH
• WOOD FLOORING
• ORIGINAL TRIM
• UPDATED ELECTRICAL SERVICE
• NEWER WINDOWS
• TWO CAR OVERSIZED GARAGE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $168k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $507 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $168k).
• Recommended offer: $153k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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 fast (+4.9%/yr); 240 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 41% 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).
• This rent runs 44% of the median local income ($58k/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 + 4.9% rent growth), your $47k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $16k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1923 — 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 $153,335 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 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. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.26% ✓
• Cap rate: 9.90%
• Cash-on-cash: 12.90%
• DSCR: 1.57
• GRM: 6.6

CMA / ARV

• ARV (median comp): $206,178
• List price: $168,500
• Delta: -18.27%
• 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
3435 Alberta St	0.22mi	4/4.0	3,850	5mo	$160,000	$42	65
3829 Minnesota Ave	0.48mi	4/2.0	2,798	2mo	$65,000	$23	63
3106 Chippewa St	0.51mi	4/2.0	2,490	2mo	$109,900	$44	62
3643 Winnebago St	0.56mi	4/2.0	2,250	3mo	$120,000	$53	59
3651 Winnebago St	0.57mi	4/2.0	2,250	4mo	$200,000	$89	58
3919-3921 Dunnica Ave	0.63mi	4/2.0	2,554	3mo	$175,000	$69	56
3610 Neosho St	0.53mi	4/4.0	3,384	3mo	$164,900	$49	52
3720 Winnebago St	0.57mi	4/4.0	3,340	2mo	$280,000	$84	51
4511 Minnesota Ave	0.62mi	4/4.0	2,788	3mo	$49,900	$18	48
4656 Virginia Ave	0.74mi	5/2.0 (+1)	3,014	1mo	$244,900	$81	48
4552 Virginia Ave	0.61mi	4/4.0	3,740	4mo	$40,000	$11	48
3733 Oregon Ave	0.69mi	4/4.0	2,480	4mo	$220,000	$89	44

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: 4.9%
• Equity multiple: 1.19×
• Total profit: $9,129
• Equity at exit: $25,124

10-year hold

• IRR: 16.0%
• Equity multiple: 2.42×
• Total profit: $67,159
• Equity at exit: $14,569

Cash invested: $47,180 (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: 13.3×

Monthly cashflow live

• Estimated rent: $2,116 high
• Mortgage (P&I): −$884
• Tax est. 1.5%: −$211 /mo · $2,528/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$444
• Net cashflow: $507

Break-even live

Break-even rent $1,474

Max offer price $168,500

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,116
Total (2 units)			$2,116

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: $42,125
• Closing costs: $5,055
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3637 Meramec St Saint Louis, MO	3.0	1.5	1632	$1,925	$1.18	17d	1	0.12mi
4005 S Grand Blvd Saint Louis, MO	4.0	1.0	1323	$1,150	$0.87	16d	1	0.12mi
4217 S Grand Blvd Unit 1 St. Louis, MO	3.0	1.0	1250	$1,400	$1.12	4d	1	0.18mi
4222 S 38th St Unit 4222 St. Louis, MO	3.0	2.0	1836	$1,400	$0.76	20d	1	0.24mi
4135 S Compton Ave Saint Louis, MO	3.0	2.0	2104	$1,600	$0.76	43d	1	0.25mi
4145 S Compton Ave Saint Louis, MO	3.0	2.0	1656	$1,520	$0.92	43d	1	0.26mi
3146 Keokuk St Saint Louis, MO	3.0	1.0	1528	$1,500	$0.98	23d	1	0.36mi
4416 S Grand Blvd Saint Louis, MO	3.0	1.0	963	$1,550	$1.61	23d	1	0.36mi
4127 Minnesota Ave Unit 2F St. Louis, MO	3.0	1.0	1155	$1,200	$1.04	43d	1	0.37mi
4127 Minnesota Ave Unit 1F St. Louis, MO	3.0	1.0	1155	$1,200	$1.04	43d	1	0.37mi
3131 Keokuk St #3131 Saint Louis, MO	3.0	2.0	1500	$1,475	$0.98	14d	1	0.39mi
4455 S 38th St Saint Louis, MO	3.0	1.0	1000	$1,000	$1.00	23d	1	0.47mi
3635 Marceline Ter Unit 2ND St. Louis, MO	3.0	1.0	1250	$1,275	$1.02	43d	1	0.58mi
4312 Oregon Ave Saint Louis, MO	4.0	2.0	2032	$2,000	$0.98	1d	1	0.65mi
4450 Pennsylvania Ave Saint Louis, MO	3.0	1.0	1500	$1,100	$0.73	4d	1	0.67mi
3649 Nebraska Ave Unit 2F St. Louis, MO	4.0	1.0	—	$1,500	—	23d	1	0.71mi
3540 Michigan Ave Saint Louis, MO	4.0	2.0	1758	$1,800	$1.02	1d	1	0.73mi
3526 S Spring Ave Saint Louis, MO	4.0	2.0	2244	$2,877	$1.28	43d	1	0.74mi
3956 Tholozan Ave Unit 1472873P St. Louis, MO	3.0	1.0	—	$4,366	—	7d	1	0.79mi
2649 Keokuk St Unit 2L St. Louis, MO	3.0	1.0	—	$1,295	—	43d	1	0.80mi
3458 Giles Ave Saint Louis, MO	3.0	2.5	2204	$2,400	$1.09	7d	1	0.81mi
2641 Keokuk St Unit 1R St. Louis, MO	3.0	1.0	800	$1,295	$1.62	43d	1	0.82mi
3807 Potomac St Saint Louis, MO	3.0	1.0	2588	$1,100	$0.43	43d	1	0.85mi
3807 Potomac St Saint Louis, MO	3.0	1.0	2588	$1,300	$0.50	7d	1	0.85mi
3411 Cherokee St St. Louis, MO	4.0	2.0	1568	$1,850	$1.18	43d	1	0.88mi
3243 Delor St Unit 3243 St. Louis, MO	3.0	1.0	1100	$1,250	$1.14	22d	1	0.89mi
3510 California Ave Saint Louis, MO	3.0	2.0	1800	$1,200	$0.67	43d	1	0.95mi
3908 McDonald Ave Saint Louis, MO	3.0	2.0	1927	$2,500	$1.30	4d	1	1.02mi
3429 Ohio Ave Saint Louis, MO	3.0	3.0	1938	$2,250	$1.16	16d	1	1.09mi
3628 Wyoming St Unit 2F St. Louis, MO	4.0	1.0	1700	$1,950	$1.15	43d	1	1.11mi
3179 S Grand Blvd Saint Louis, MO	3.0	1.0	650	$1,585	$2.44	2d	3	1.16mi
2643 Wyoming St Saint Louis, MO	3.0	2.5	2592	$2,600	$1.00	43d	1	1.36mi
3971 Juniata St Unit 1472872P St. Louis, MO	4.0	1.5	—	$6,107	—	43d	1	1.38mi
3450 Wisconsin Ave Saint Louis, MO	1.0–3.0	1.0–2.0	1219	$2,300	$1.89	1d	15	1.39mi

Listing history 19 events

1. 2026-06-18
   days on market $168,500 Active 91 DOM
2. 2026-06-17
   days on market $168,500 Active 90 DOM
3. 2026-06-16
   days on market $168,500 Active 89 DOM
4. 2026-06-15
   days on market $168,500 Active 88 DOM
5. 2026-06-13
   days on market $168,500 Active 86 DOM
6. 2026-06-09
   days on market $168,500 Active 82 DOM
7. 2026-06-08
   days on market $168,500 Active 81 DOM
8. 2026-06-08
   days on market $168,500 Active 80 DOM
9. 2026-06-05
   days on market $168,500 Active 77 DOM
10. 2026-06-03
    days on market $168,500 Active 76 DOM
11. 2026-06-02
    days on market $168,500 Active 75 DOM
12. 2026-06-01
    days on market $168,500 Active 74 DOM
13. 2026-05-31
    days on market $168,500 Active 73 DOM
14. 2026-03-31
    price $168,500 642-char remark

    Show marketing remark (642 chars)

    Investor Delight on BEAUTIFUL TREE-LINED BLOCK --- HUGH VALUE ADD OPPORTUNITY! This charmimg property features a spacious covered front porch and showcases stunning wood flooring and original trim that highlight its timeless character.The building offers two bedrooms per unit.Updated electrical service, and several newer windows for added efficiency.A TWO CAR OVERSIZED GARAGE.This property a hugh value add opportunity, making it a deal for investors seeking stong upside potential or buyer looking to customize thier residence while generating income. Conveniently located near parks, restaurants, highways and all neighborhood amenities.

15. 2026-03-19
    listed $184,500 Active 642-char remark

    Show marketing remark (642 chars)

    Investor Delight on BEAUTIFUL TREE-LINED BLOCK --- HUGH VALUE ADD OPPORTUNITY! This charmimg property features a spacious covered front porch and showcases stunning wood flooring and original trim that highlight its timeless character.The building offers two bedrooms per unit.Updated electrical service, and several newer windows for added efficiency.A TWO CAR OVERSIZED GARAGE.This property a hugh value add opportunity, making it a deal for investors seeking stong upside potential or buyer looking to customize thier residence while generating income. Conveniently located near parks, restaurants, highways and all neighborhood amenities.

16. 2025-12-04
    status Active
17. 2025-10-15
    status Pending
18. 2025-10-15
    listed $195,000 Active
19. 2025-07-02
    listed $168,500 Active

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

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: $25,392
• − Mortgage interest: −$9,439
• − Property taxes: −$2,528
• − Insurance: −$842
• − Repairs & maintenance: −$2,031
• − Management: −$2,031
• − Depreciation: −$4,902
• Taxable income: $3,619
• Est. tax owed @ 24.0%: −$869
• After-tax cash flow: $5,218/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 · 10 photos

Fair 45/100 Moderate rehab

This multi-family property offers a fair condition with potential for moderate renovations to enhance its curb appeal and value.

Repairs flagged

• Moderate exterior siding — Worn and uneven
• Minor interior walls — Some paint wear

Value-add opportunities

• Both paint exterior — Enhances curb appeal and resale value
• Both repair exterior siding — Improves home's appearance and value
• Both update kitchen and bathrooms — Modernizes the home and increases both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Worn and uneven	Moderate	$3,000–15,000
interior walls · Some paint wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and resale value ↑
• Both repair exterior siding — Improves home's appearance and value ↑
• Both update kitchen and bathrooms — Modernizes the home and increases both resale and rental value ↑

ⓘ 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
• 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

+0.0% since first listed

6 events — show timeline

• 2026-03-31 Price Changed $168,500 MARIS as Distributed by MLS Grid
• 2026-03-19 Listed $184,500 MARIS as Distributed by MLS Grid
• 2025-12-04 Relisted — MARIS as Distributed by MLS Grid
• 2025-10-15 Pending — MARIS as Distributed by MLS Grid
• 2025-10-15 Listed $195,000 MARIS as Distributed by MLS Grid
• 2025-07-02 Listed $168,500 MARIS as Distributed by MLS Grid