5516 S Grand Blvd · St. Louis, MO 63111

$274,900

8 bd · 4.0 ba · 3,672 sqft · MultiFamily public records · 192 Days on market

Built 1924 5,985 sqft lot $75/sqft · at area comps Est $264k · at est.

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +5.7/15.0
• Rent growth +3.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 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: 4 units. confirmed

Listing remarks MLS

Investor’s Dream in South City! Fully occupied 4-family in Carondelet generating $2,900 per month in gross rent and professionally managed for true turnkey convenience. Each unit has been fully renovated—featuring modern kitchens, updated bathrooms, and durable LVP flooring throughout. Photos were taken prior to tenants move in, and are of unit 1N and 2S. All units are identical in layout and finishes. Major updates include a new roof and new right-side plumbing stack, offering peace of mind for years to come. Electric panels are newer and electric in basement has been updated along with PEX plumbing. Tenants enjoy comfortable updated living spaces, while owners benefit from strong cash flow and minimal maintenance. Leases all expire in May of 2026 giving you immediate cash flow and flexibility. Off street parking in the back for the tenants. Conveniently located off Grand for easy access to all the great things South City has to offer, and public transportation. This would be perfect for a "house hacker", or make perfect addition to any investment portfolio! Showing an accepted contract. Could be bought in a package deal with 4127 Virginia (MLS# 26016314) and 4617 Broadway (MLS # 26005828). Sewer lateral needs repairs. Seller willing to credit a buyer for repairs with a reasonable offer. **NO SELLER FINANCING OFFERS**

Key facts

• Fully renovated
• Modern kitchens
• Updated bathrooms

Tags

• FULLY RENOVATED
• MODERN KITCHENS
• UPDATED BATHROOMS
• DURABLE LVP FLOORING
• NEW ROOF
• NEW RIGHT-SIDE PLUMBING STACK

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/2.5-bath units multifamily listed at $275k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $348/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $275k).
• Recommended offer: $242k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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.
• Market conditions: Rents rising (+3.3%/yr); 125 active listings in the ZIP; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• At $3,912/mo this rent would consume 100% of the median local household income ($47k/yr) (locally 1364% 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 $2k of loan paydown is wiped out by about $8k 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 + 3.3% rent growth), your $77k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 192 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 3y ago; this cycle's ask has dropped $15k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $147k; list at $275k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $241,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 192 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.42% ✓
• Cap rate: 12.37%
• Cash-on-cash: 21.71%
• DSCR: 1.97
• GRM: 5.9

CMA / ARV

• ARV (median comp): $264,422
• List price: $274,900
• Delta: 3.96%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3235 Itaska St	0.59mi	8/4.0	3,740 (+2%)	22mo	$215,000	$57	51
605 Holly Hills Ave	0.69mi	8/4.0	3,484 (-5%)	21mo	$459,900	$132	42

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 · 3.27% rent growth · sell at horizon

5-year hold

• IRR: 14.6%
• Equity multiple: 1.59×
• Total profit: $45,165
• Equity at exit: $40,988

10-year hold

• IRR: 23.5%
• Equity multiple: 3.05×
• Total profit: $157,690
• Equity at exit: $23,768

Cash invested: $76,972 (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 63111

• Rents YoY: 3.3%
• Active inventory: 125
• Price-to-rent: 23.4×

Monthly cashflow live

• Estimated rent: $3,912 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$141 /mo · $1,698/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$822
• Net cashflow: $1,393

Break-even live

Break-even rent $2,149

Max offer price $274,900

Occupancy floor 59%

Sensitivity live

Price	-10% $1,548	-5% $1,471	+0% $1,393	+5% $1,315	+10% $1,237
Rent	-10% $1,084	-5% $1,238	+0% $1,393	+5% $1,547	+10% $1,702
Rate	-1.0pp $1,531	-0.5pp $1,463	base $1,393	+0.5pp $1,322	+1.0pp $1,249

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	2.5	$3,912
Total (4 units)			$3,912

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: $68,725
• Closing costs: $8,247
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-03-18
   status Active 1362-char remark

   Show marketing remark (1362 chars)

   Investor’s Dream in South City! Fully occupied 4-family in Carondelet generating $2,900 per month in gross rent and professionally managed for true turnkey convenience. Each unit has been fully renovated—featuring modern kitchens, updated bathrooms, and durable LVP flooring throughout. Photos were taken prior to tenants move in, and are of unit 1N and 2S. All units are identical in layout and finishes. Major updates include a new roof and new right-side plumbing stack, offering peace of mind for years to come. Electric panels are newer and electric in basement has been updated along with PEX plumbing. Tenants enjoy comfortable updated living spaces, while owners benefit from strong cash flow and minimal maintenance. Leases all expire in May of 2026 giving you immediate cash flow and flexibility. Off street parking in the back for the tenants. Conveniently located off Grand for easy access to all the great things South City has to offer, and public transportation. This would be perfect for a "house hacker", or make perfect addition to any investment portfolio! Showing an accepted contract. Could be bought in a package deal with 4127 Virginia (MLS# 26016314) and 4617 Broadway (MLS # 26005828). Sewer lateral needs repairs. Seller willing to credit a buyer for repairs with a reasonable offer. **NO SELLER FINANCING OFFERS**

2. 2026-03-03
   price $274,900 1362-char remark

   Show marketing remark (1362 chars)

   Investor’s Dream in South City! Fully occupied 4-family in Carondelet generating $2,900 per month in gross rent and professionally managed for true turnkey convenience. Each unit has been fully renovated—featuring modern kitchens, updated bathrooms, and durable LVP flooring throughout. Photos were taken prior to tenants move in, and are of unit 1N and 2S. All units are identical in layout and finishes. Major updates include a new roof and new right-side plumbing stack, offering peace of mind for years to come. Electric panels are newer and electric in basement has been updated along with PEX plumbing. Tenants enjoy comfortable updated living spaces, while owners benefit from strong cash flow and minimal maintenance. Leases all expire in May of 2026 giving you immediate cash flow and flexibility. Off street parking in the back for the tenants. Conveniently located off Grand for easy access to all the great things South City has to offer, and public transportation. This would be perfect for a "house hacker", or make perfect addition to any investment portfolio! Showing an accepted contract. Could be bought in a package deal with 4127 Virginia (MLS# 26016314) and 4617 Broadway (MLS # 26005828). Sewer lateral needs repairs. Seller willing to credit a buyer for repairs with a reasonable offer. **NO SELLER FINANCING OFFERS**

3. 2026-02-05
   price $279,900 1362-char remark

   Show marketing remark (1362 chars)

   Investor’s Dream in South City! Fully occupied 4-family in Carondelet generating $2,900 per month in gross rent and professionally managed for true turnkey convenience. Each unit has been fully renovated—featuring modern kitchens, updated bathrooms, and durable LVP flooring throughout. Photos were taken prior to tenants move in, and are of unit 1N and 2S. All units are identical in layout and finishes. Major updates include a new roof and new right-side plumbing stack, offering peace of mind for years to come. Electric panels are newer and electric in basement has been updated along with PEX plumbing. Tenants enjoy comfortable updated living spaces, while owners benefit from strong cash flow and minimal maintenance. Leases all expire in May of 2026 giving you immediate cash flow and flexibility. Off street parking in the back for the tenants. Conveniently located off Grand for easy access to all the great things South City has to offer, and public transportation. This would be perfect for a "house hacker", or make perfect addition to any investment portfolio! Showing an accepted contract. Could be bought in a package deal with 4127 Virginia (MLS# 26016314) and 4617 Broadway (MLS # 26005828). Sewer lateral needs repairs. Seller willing to credit a buyer for repairs with a reasonable offer. **NO SELLER FINANCING OFFERS**

4. 2026-01-08
   price $285,000 1362-char remark

   Show marketing remark (1362 chars)

   Investor’s Dream in South City! Fully occupied 4-family in Carondelet generating $2,900 per month in gross rent and professionally managed for true turnkey convenience. Each unit has been fully renovated—featuring modern kitchens, updated bathrooms, and durable LVP flooring throughout. Photos were taken prior to tenants move in, and are of unit 1N and 2S. All units are identical in layout and finishes. Major updates include a new roof and new right-side plumbing stack, offering peace of mind for years to come. Electric panels are newer and electric in basement has been updated along with PEX plumbing. Tenants enjoy comfortable updated living spaces, while owners benefit from strong cash flow and minimal maintenance. Leases all expire in May of 2026 giving you immediate cash flow and flexibility. Off street parking in the back for the tenants. Conveniently located off Grand for easy access to all the great things South City has to offer, and public transportation. This would be perfect for a "house hacker", or make perfect addition to any investment portfolio! Showing an accepted contract. Could be bought in a package deal with 4127 Virginia (MLS# 26016314) and 4617 Broadway (MLS # 26005828). Sewer lateral needs repairs. Seller willing to credit a buyer for repairs with a reasonable offer. **NO SELLER FINANCING OFFERS**

5. 2025-11-13
   listed $290,000 Active 1362-char remark

   Show marketing remark (1362 chars)

   Investor’s Dream in South City! Fully occupied 4-family in Carondelet generating $2,900 per month in gross rent and professionally managed for true turnkey convenience. Each unit has been fully renovated—featuring modern kitchens, updated bathrooms, and durable LVP flooring throughout. Photos were taken prior to tenants move in, and are of unit 1N and 2S. All units are identical in layout and finishes. Major updates include a new roof and new right-side plumbing stack, offering peace of mind for years to come. Electric panels are newer and electric in basement has been updated along with PEX plumbing. Tenants enjoy comfortable updated living spaces, while owners benefit from strong cash flow and minimal maintenance. Leases all expire in May of 2026 giving you immediate cash flow and flexibility. Off street parking in the back for the tenants. Conveniently located off Grand for easy access to all the great things South City has to offer, and public transportation. This would be perfect for a "house hacker", or make perfect addition to any investment portfolio! Showing an accepted contract. Could be bought in a package deal with 4127 Virginia (MLS# 26016314) and 4617 Broadway (MLS # 26005828). Sewer lateral needs repairs. Seller willing to credit a buyer for repairs with a reasonable offer. **NO SELLER FINANCING OFFERS**

6. 2025-06-17
   soldstatus
7. 2025-05-31
   historical $750
8. 2025-05-23
   listed $750
9. 2025-05-23
   historical $700
10. 2025-05-12
    listed $700
11. 2023-10-27
    soldstatus $147,000
12. 2023-10-24
    soldstatus Closed 365-char remark

    Show marketing remark (365 chars)

    Value-add 4 family with 1br/1ba units. 3 of 4 units are occupied with rents of $565, $565, and $565. All leases are m2m. There is potential to raise rents in the future with additional updates. Vacant unit will be in need of updating. Per Rentometer, 1 br apartments nearby are currently renting for $775 - $1,100 depending on updates. Property to be Sold As-Is.

13. 2023-09-20
    status Pending 365-char remark

    Show marketing remark (365 chars)

    Value-add 4 family with 1br/1ba units. 3 of 4 units are occupied with rents of $565, $565, and $565. All leases are m2m. There is potential to raise rents in the future with additional updates. Vacant unit will be in need of updating. Per Rentometer, 1 br apartments nearby are currently renting for $775 - $1,100 depending on updates. Property to be Sold As-Is.

14. 2023-09-18
    listed $159,000 Active 365-char remark

    Show marketing remark (365 chars)

    Value-add 4 family with 1br/1ba units. 3 of 4 units are occupied with rents of $565, $565, and $565. All leases are m2m. There is potential to raise rents in the future with additional updates. Vacant unit will be in need of updating. Per Rentometer, 1 br apartments nearby are currently renting for $775 - $1,100 depending on updates. Property to be Sold As-Is.

15. 2023-09-13
    historical
16. 2023-09-06
    listed $215,000 Active
17. 2023-09-05
    historical
18. 2023-08-14
    status Active
19. 2023-06-22
    status Pending
20. 2023-05-16
    listed $215,000 Active
21. 2020-12-28
    soldstatus $1,750,000
22. 2003-11-13
    soldstatus $127,000

ⓘ 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: $1,698 · $141/mo
• Projected year-2 tax: $2,667 · $222/mo
• Expected delta: +$969/yr (+$81/mo · 57.0%)

ⓘ 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 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: $46,944
• − Mortgage interest: −$15,399
• − Property taxes: −$1,698
• − Insurance: −$1,374
• − Repairs & maintenance: −$3,756
• − Management: −$3,756
• − Depreciation: −$7,997
• Taxable income: $12,965
• Est. tax owed @ 24.0%: −$3,112
• After-tax cash flow: $13,602/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): 18,851
• Household income: $47,039
• Rent vs Own: 61.6% rent · 38.4% own
• Severe rent burden: 1364.0

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 0.65)
• Race & ethnicity: Black 42% White 41% Two or more races 11% Hispanic / Latino 9% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 3% Slovak 1% Romanian 1%
• Foreign-born: 7% · Canada, India
• Languages at home: 90% English-only · Spanish 7% Other Indo-European 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: ▼ -92.80%
• Current HPI: 169.4644
• Rent YoY: ▲ 3.27%
• 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

+116.5% since first listed

22 events — show timeline

• 2026-03-18 Relisted — MARIS as Distributed by MLS Grid
• 2026-03-03 Price Changed $274,900 MARIS as Distributed by MLS Grid
• 2026-02-05 Price Changed $279,900 MARIS as Distributed by MLS Grid
• 2026-01-08 Price Changed $285,000 MARIS as Distributed by MLS Grid
• 2025-11-13 Listed $290,000 MARIS as Distributed by MLS Grid
• 2025-06-17 Sold (Public Records) — Public Records
• 2025-05-31 Rental Removed $750 APPFOLIO
• 2025-05-23 Listed for Rent $750 APPFOLIO
• 2025-05-23 Rental Removed $700 SHOWMOJO
• 2025-05-12 Listed for Rent $700 SHOWMOJO
• 2023-10-27 Sold (Public Records) $147,000 Public Records
• 2023-10-24 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2023-09-20 Pending — MARIS as Distributed by MLS Grid
• 2023-09-18 Listed $159,000 MARIS as Distributed by MLS Grid
• 2023-09-13 Delisted — MARIS as Distributed by MLS Grid
• 2023-09-06 Listed $215,000 MARIS as Distributed by MLS Grid
• 2023-09-05 Delisted — MARIS as Distributed by MLS Grid
• 2023-08-14 Relisted — MARIS as Distributed by MLS Grid
• 2023-06-22 Pending — MARIS as Distributed by MLS Grid
• 2023-05-16 Listed $215,000 MARIS as Distributed by MLS Grid
• 2020-12-28 Sold (Public Records) $1,750,000 Public Records
• 2003-11-13 Sold (Public Records) $127,000 Public Records

Property tax history

+4.6%/yr

Latest (2024): $1,698 · +14.4% YoY. Source: county tax records.