5939 Etzel Ave Unit A/B · St. Louis, MO 63112

$93,000

4 bd · 1.0 ba · 2,600 sqft · MultiFamily · 63 Days on market

Built 1909 Poor condition 10,410 sqft lot $36/sqft · 27% above area Est $73k · 27% over

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +1.5/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0
• 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

First time on the market in over 50 plus years. Value-add duplex opportunity in the West End with rare features and flexible living potential. Property includes original hardwood floors, two enclosed back porches, and a basement with additional living space and kitchenette, ideal for extended use or entertaining. Off-street parking and a detached 4-car garage add significant utility, though the garage is being sold as-is with condition and access unknown. Property will require renovation, including a new roof, and is being sold strictly as-is. Potential for conversion to a spacious 2,600 sqft single-family residence. Ideal for investors or buyers looking to create value in a developing area. Property is owner-occupied. Showings by appointment only, agent must accompany client. Professional photos coming soon. Happy showing!

Key facts

• 0.24 acre lot
• 4 garage spots
• Built 1909

Tags

• ORIGINAL HARDWOOD FLOORS
• ENCLOSED BACK PORCHES
• DETACHED 4-CAR GARAGE

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath multifamily listed at $93k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $93k).
• Recommended offer: $87k (6.0% below list) — sets the bar for market timing.
• Cap rate 31.2% 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.
• Market conditions: Rents rising (+2.4%/yr); 118 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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).
• At $3,259/mo this rent would consume 86% of the median local household income ($46k/yr) (locally 1457% 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 $643 of loan paydown is wiped out by about $3k 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 + 2.4% rent growth), your $26k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,420 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% 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 1909 — 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: 3.50% ✓
• Cap rate: 31.22%
• Cash-on-cash: 89.03%
• DSCR: 4.96
• GRM: 2.4

CMA / ARV

• ARV (median comp): $73,409
• List price: $93,000
• Delta: 26.69%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6010 Bartmer Ave	0.16mi	5/2.0 (+1)	2,784 (+7%)	2mo	$85,000	$31	70
953 Catalpa St	0.33mi	4/2.0	2,350 (-10%)	2mo	$168,000	$71	63
5866 Etzel Ave	0.16mi	5/2.0 (+1)	2,806 (+8%)	13mo	$174,900	$62	60
5717 Page Blvd	0.47mi	5/2.0 (+1)	2,352 (-10%)	12mo	$60,000	$26	43

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 · 2.39% rent growth · sell at horizon

5-year hold

• IRR: 89.0%
• Equity multiple: 5.07×
• Total profit: $106,035
• Equity at exit: $13,867

10-year hold

• IRR: 91.8%
• Equity multiple: 10.33×
• Total profit: $242,914
• Equity at exit: $8,041

Cash invested: $26,040 (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 63112

• Rents YoY: 2.4%
• Active inventory: 118
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $3,259 high
• Mortgage (P&I): −$488
• Tax est. 1.5%: −$116 /mo · $1,395/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$684
• Net cashflow: $1,932

Break-even live

Break-even rent $814

Max offer price $93,000

Occupancy floor 36%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,258
Total (2 units)			$3,259

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: $23,250
• Closing costs: $2,790
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14 Parkland Pl Saint Louis, MO	5.0	3.0	2830	$2,500	$0.88	23d	1	0.21mi
14 Parkland Pl Unit NA St. Louis, MO	5.0	3.0	2830	$2,700	$0.95	43d	1	0.21mi
14 Parkland Pl Saint Louis, MO	5.0	3.0	2830	$2,500	$0.88	7d	1	0.21mi
14 Parkland Pl Unit 1 St. Louis, MO	5.0	3.0	2830	$2,700	$0.95	23d	1	0.21mi
5345 Wells Ave Saint Louis, MO	3.0	1.0	2254	$1,295	$0.57	43d	1	1.07mi
5096 Minerva Ave Unit C St. Louis, MO	3.0	1.0	1800	$1,395	$0.78	43d	1	1.33mi
275 Union Blvd St. Louis, MO	3.0	1.0–3.0	1317	$4,686	$3.56	2d	58	1.49mi

Listing history 14 events

1. 2026-06-18
   days on market $93,000 Active 63 DOM
2. 2026-06-17
   days on market $93,000 Active 62 DOM
3. 2026-06-16
   days on market $93,000 Active 61 DOM
4. 2026-06-15
   days on market $93,000 Active 60 DOM
5. 2026-06-13
   days on market $93,000 Active 58 DOM
6. 2026-06-09
   days on market $93,000 Active 54 DOM
7. 2026-06-08
   pricedays on market $93,000 Active 53 DOM
8. 2026-06-07
   days on market $98,000 Active 52 DOM
9. 2026-06-05
   days on market $98,000 Active 49 DOM
10. 2026-06-03
    days on market $98,000 Active 48 DOM
11. 2026-06-02
    days on market $98,000 Active 47 DOM
12. 2026-06-01
    days on market $98,000 Active 46 DOM
13. 2026-05-31
    days on market $98,000 Active 45 DOM
14. 2026-04-16
    listed $98,000 Active 835-char remark

    Show marketing remark (835 chars)

    First time on the market in over 50 plus years. Value-add duplex opportunity in the West End with rare features and flexible living potential. Property includes original hardwood floors, two enclosed back porches, and a basement with additional living space and kitchenette, ideal for extended use or entertaining. Off-street parking and a detached 4-car garage add significant utility, though the garage is being sold as-is with condition and access unknown. Property will require renovation, including a new roof, and is being sold strictly as-is. Potential for conversion to a spacious 2,600 sqft single-family residence. Ideal for investors or buyers looking to create value in a developing area. Property is owner-occupied. Showings by appointment only, agent must accompany client. Professional photos coming soon. Happy showing!

ⓘ 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 ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,108
• − Mortgage interest: −$5,209
• − Property taxes: −$1,395
• − Insurance: −$465
• − Repairs & maintenance: −$3,129
• − Management: −$3,129
• − Depreciation: −$2,705
• Taxable income: $23,076
• Est. tax owed @ 24.0%: −$5,538
• After-tax cash flow: $17,645/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 · 1 photo

Poor 30/100 Extensive rehab

This property requires extensive renovation, including a new roof, exterior siding repair, interior renovation, HVAC/mechanical upgrades, and landscaping improvements. It presents a significant opportunity for investors to create value in a developing area.

Repairs flagged

• Major roof — The roof appears old and possibly leaking.
• Major exterior siding — The siding shows significant wear and tear.
• Major interior walls and flooring — The property will require renovation, which likely includes these areas.
• Major HVAC/mechanicals — The property will require renovation, which likely includes these systems.
• Major landscaping — The landscaping is overgrown and needs significant maintenance to improve curb appeal.

Value-add opportunities

• Both new roof — A new roof will improve the property's appearance and functionality.
• Both exterior siding repair — Repairing the siding will enhance the property's curb appeal and structural integrity.
• Both interior renovation — Renovating the interior will improve the living spaces and make the property more attractive to potential buyers or renters.
• Both HVAC/mechanical upgrades — Upgrading the HVAC and mechanical systems will improve comfort and energy efficiency.
• Both landscaping and curb appeal — A well-maintained landscape will enhance the property's curb appeal and attract potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears old and possibly leaking.	Major	$15,000–50,000
exterior siding · The siding shows significant wear and tear.	Major	$15,000–50,000
interior walls and flooring · The property will require renovation, which likely includes these areas.	Major	$15,000–50,000
HVAC/mechanicals · The property will require renovation, which likely includes these systems.	Major	$15,000–50,000
landscaping · The landscaping is overgrown and needs significant maintenance to improve curb appeal.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both new roof — A new roof will improve the property's appearance and functionality. ↑
• Both exterior siding repair — Repairing the siding will enhance the property's curb appeal and structural integrity. ↑
• Both interior renovation — Renovating the interior will improve the living spaces and make the property more attractive to potential buyers or renters. ↑
• Both HVAC/mechanical upgrades — Upgrading the HVAC and mechanical systems will improve comfort and energy efficiency. ↑
• Both landscaping and curb appeal — A well-maintained landscape will enhance the property's curb appeal and attract potential buyers or renters. ↑

ⓘ 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): 17,985
• Household income: $45,542
• Rent vs Own: 64.1% rent · 35.9% own
• Severe rent burden: 1457.0

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: Majority Black (63%)
• Race & ethnicity: Black 63% White 24% Asian 6% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Lithuanian 1% Scotch-Irish 1% Romanian 1%
• Foreign-born: 9% · China, South Korea, Canada
• Languages at home: 88% English-only · Spanish 3% Chinese 2% Korean 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: ▼ -158.94%
• Current HPI: 115.1863
• Rent YoY: ▲ 2.39%
• 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

1 event — show timeline

• 2026-04-16 Listed $98,000 MARIS as Distributed by MLS Grid