2606 Slattery St · St. Louis, MO 63106

$13,500

1 bd · 1.0 ba · 814 sqft · SingleFamily public records · 76 Days on market

Built 1931 6,398 sqft lot $17/sqft · 87% below area ↓ 48% since listing

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Why this score? — see what drove the D+ 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 +7.5/15.0
• Appreciation +6.0/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

Attention investors and handymen—don’t miss this value-add opportunity! Located on a double lot within 1/2 mile of the new NGA development, this property is ideal for a full rehab or tear-down and rebuild. Prime location with strong upside potential. Sold strictly as-is; seller will make no repairs or provide inspections or warranties. Hold harmless agreement required before entry.

Key facts

• Double lot
• Full rehab
• 6,398 sq ft lot

Tags

• DOUBLE LOT
• FULL REHAB
• TEAR-DOWN AND REBUILD
• STRONG UPSIDE POTENTIAL

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $14k.

Deal economics

• At list price, monthly cash flow is $812 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $14k).
• Recommended offer: $13k (6.0% below list) — sets the bar for market timing.
• Cap rate 78.5% 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 D — 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: 15 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).

Forward outlook

• In year one you build about $350 of equity ($93 loan paydown + $257 appreciation (1.9% local appreciation)).
• 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 (1.9% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($13k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1931 — 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 $12,690 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 8.49% ✓
• Cap rate: 78.47%
• Cash-on-cash: 257.79%
• DSCR: 12.47
• GRM: 1.0

CMA / ARV

• ARV (median comp): $104,428
• List price: $13,500
• Delta: -87.07%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

1.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 14.91×
• Total profit: $52,598
• Equity at exit: $5,257

10-year hold

• IRR: —
• Equity multiple: 31.63×
• Total profit: $115,783
• Equity at exit: $7,518

Cash invested: $3,780 (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 63106

• Home prices YoY: 1.4%
• Active inventory: 15
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $1,146 high
• Mortgage (P&I): −$71
• Tax from tax record: −$17 /mo · $202/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $812

Break-even live

Break-even rent $118

Max offer price $13,500

Occupancy floor 24%

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: $3,375
• Closing costs: $405
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3644 Natural Bridge Ave Apt 303 St. Louis, MO	1.0	1.0	710	$825	$1.16	44d	1	0.72mi
3644 Natural Bridge Ave Apt 203 St. Louis, MO	1.0	1.0	570	$680	$1.19	44d	1	0.72mi
3516 Russell Blvd Saint Louis, MO	1.0	1.0	560	$875	$1.56	7d	1	0.80mi
2603 Belle Glade Ave Saint Louis, MO	2.0	1.0	945	$800	$0.85	4d	1	0.97mi
2605-2637 Washington Ave St. Louis, MO	1.0–2.0	1.0–2.0	775	$1,350	$1.74	12d	7	1.10mi
3307 Olive St St. Louis, MO	1.0–2.0	1.0	912	$855	$0.94	44d	1	1.11mi
3819 Kossuth Ave Saint Louis, MO	1.0	1.5	816	$725	$0.89	24d	1	1.11mi
2650 Locust St St. Louis, MO	1.0	1.0	780	$1,375	$1.76	3d	2	1.16mi
2206 Lucas Ave St. Louis, MO	1.0–2.0	1.0–2.0	1047	$1,250	$1.19	2d	20	1.18mi
2323 Locust St Saint Louis, MO	1.0–2.0	1.0	1239	$1,250	$1.01	44d	2	1.19mi
715 N 21st St St. Louis, MO	1.0–2.0	1.0–2.0	900	$1,125	$1.25	24d	1	1.21mi
416 N 23rd St St. Louis, MO	1.0–2.0	1.0	780	$1,275	$1.63	4d	23	1.22mi
3681 Lindell Blvd Saint Louis, MO	3.0	1.0–2.5	1292	$2,056	$1.59	2d	62	1.24mi
3717-3721 Westminster Pl St. Louis, MO	3.0	1.0–3.0	1343	$1,462	$1.09	16d	4	1.25mi
2217 Locust St Saint Louis, MO	2.0	2.0	830	$1,475	$1.78	44d	1	1.25mi
2034 Lucas Ave St. Louis, MO	1.0–2.0	1.0	1080	$1,365	$1.26	44d	1	1.26mi
3701 Lindell Blvd Saint Louis, MO	3.0	1.0–3.0	1073	$1,433	$1.33	16d	81	1.29mi
3701 Lindell Blvd Saint Louis, MO	3.0	1.0–3.0	1073	$1,427	$1.33	2d	128	1.29mi
2200 Locust St Saint Louis, MO	1.0–2.0	1.0–1.5	862	$1,395	$1.62	3d	6	1.30mi
1901 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	1076	$1,250	$1.16	4d	38	1.36mi
1900 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	960	$1,295	$1.35	2d	12	1.37mi
1800 Washington Ave Saint Louis, MO	1.0–2.0	1.0–2.0	927	$1,115	$1.20	44d	13	1.43mi
1815 Locust St Saint Louis, MO	1.0–2.0	1.0–2.0	983	$1,235	$1.26	44d	7	1.43mi
4301 E Warne Ave St. Louis, MO	1.0	1.0	550	$525	$0.95	44d	1	1.45mi
4140 Washington Blvd Saint Louis, MO	1.0	1.0	495	$1,010	$2.04	44d	6	1.46mi
4140 Washington Blvd Saint Louis, MO	1.0–2.0	1.0–2.5	907	$865	$0.95	2d	1	1.46mi
1 S Spring Ave St. Louis, MO	1.0	1.0	1000	$1,050	$1.05	44d	1	1.47mi
3906 Lindell Blvd St. Louis, MO	2.0–3.0	1.0	1072	$1,375	$1.28	44d	10	1.48mi
3906 Lindell Blvd St. Louis, MO	2.0–3.0	1.0	1072	$1,325	$1.24	3d	16	1.48mi
2002 Obear Ave St. Louis, MO	2.0	1.5	1024	$970	$0.95	4d	1	1.48mi
1706 Washington Ave St. Louis, MO	1.0–2.0	1.0–2.0	997	$1,241	$1.24	2d	10	1.48mi
1635 Washington Ave Saint Louis, MO	1.0–2.0	1.0	1135	$1,395	$1.23	3d	4	1.49mi

Listing history 17 events

1. 2026-06-18
   days on market $13,500 Active 76 DOM
2. 2026-06-17
   days on market $13,500 Active 75 DOM
3. 2026-06-16
   days on market $13,500 Active 74 DOM
4. 2026-06-15
   days on market $13,500 Active 73 DOM
5. 2026-06-13
   days on market $13,500 Active 71 DOM
6. 2026-06-09
   days on market $13,500 Active 67 DOM
7. 2026-06-08
   days on market $13,500 Active 66 DOM
8. 2026-06-08
   days on market $13,500 Active 65 DOM
9. 2026-06-05
   days on market $13,500 Active 62 DOM
10. 2026-06-03
    days on market $13,500 Active 61 DOM
11. 2026-06-02
    days on market $13,500 Active 60 DOM
12. 2026-06-01
    days on market $13,500 Active 59 DOM
13. 2026-05-31
    days on market $13,500 Active 58 DOM
14. 2026-05-04
    price $13,500 396-char remark

    Show marketing remark (396 chars)

    Attention investors and handymen—don’t miss this value-add opportunity! Located on a double lot within 1/2 mile of the new NGA development, this property is ideal for a full rehab or tear-down and rebuild. Prime location with strong upside potential. Sold strictly as-is; seller will make no repairs or provide inspections or warranties. Hold harmless agreement required before entry.

15. 2026-04-14
    price $18,500 396-char remark

    Show marketing remark (396 chars)

    Attention investors and handymen—don’t miss this value-add opportunity! Located on a double lot within 1/2 mile of the new NGA development, this property is ideal for a full rehab or tear-down and rebuild. Prime location with strong upside potential. Sold strictly as-is; seller will make no repairs or provide inspections or warranties. Hold harmless agreement required before entry.

16. 2026-04-03
    listed $25,900 Active 396-char remark

    Show marketing remark (396 chars)

    Attention investors and handymen—don’t miss this value-add opportunity! Located on a double lot within 1/2 mile of the new NGA development, this property is ideal for a full rehab or tear-down and rebuild. Prime location with strong upside potential. Sold strictly as-is; seller will make no repairs or provide inspections or warranties. Hold harmless agreement required before entry.

17. 2026-04-03
    historical $25,900 396-char remark

    Show marketing remark (396 chars)

    Attention investors and handymen—don’t miss this value-add opportunity! Located on a double lot within 1/2 mile of the new NGA development, this property is ideal for a full rehab or tear-down and rebuild. Prime location with strong upside potential. Sold strictly as-is; seller will make no repairs or provide inspections or warranties. Hold harmless agreement required before entry.

ⓘ 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: $202 · $17/mo
• Projected year-2 tax: $202 · $17/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major 7 d/yr ≥108°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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,752
• − Mortgage interest: −$756
• − Property taxes: −$202
• − Insurance: −$68
• − Repairs & maintenance: −$1,100
• − Management: −$1,100
• − Depreciation: −$393
• Taxable income: $10,133
• Est. tax owed @ 24.0%: −$2,432
• After-tax cash flow: $7,313/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
• City population: 283,259
• Population (ZIP): 7,742

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 (89%)
• Race & ethnicity: Black 89% White 7% Two or more races 2% Hispanic / Latino 2%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 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: ▲ 1.91%
• Current HPI: 133.284
• 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

-47.9% since first listed

4 events — show timeline

• 2026-05-04 Price Changed $13,500 MARIS as Distributed by MLS Grid
• 2026-04-14 Price Changed $18,500 MARIS as Distributed by MLS Grid
• 2026-04-03 Listed $25,900 MARIS as Distributed by MLS Grid
• 2026-04-03 Coming Soon $25,900 MARIS as Distributed by MLS Grid

Property tax history

+0.4%/yr

Latest (2024): $202 · +4.4% YoY. Source: county tax records.