2901 Nebraska Ave · St. Louis, MO 63118

$745,000

None bd · None ba · 6,400 sqft · MultiFamily public records · 1 Days on market

Built 1927 6,290 sqft lot Est $800k · 7% under

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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 +25.0/30.0
• ARV discount +10.6/15.0
• DSCR +8.2/10.0
• 1% rule +5.4/10.0
• Rent growth +3.7/5.0
• 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 (5+ Unit). Listing-text estimate: 8 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Fully updated 8-unit apartment building in the historic Tower Grove East neighborhood. Located just 1.5 miles from Tower Grove Park and all the amenities South Grand has to offer. The building is surrounded by popular neighborhood restaurants and coffee shops for tenants to enjoy. Built in 1927, this brick building has a total square footage of 6,400 on a 6,288 square foot lot (0.144 acres). Each 1-bedroom, 1-bathroom unit boasts 750 square feet of modern living space. All units were completely renovated in 2021 with granite countertops, stainless steel appliances (including gas stoves, refrigerators, microwaves, and dishwashers), in-unit washers and dryers, and keyless locks throughout. Ma

Key facts

• Keyless locks
• New condensers
• Completely renovated

Tags

• COMPLETELY RENOVATED
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• IN-UNIT WASHERS AND DRYERS
• KEYLESS LOCKS
• NEW CONDENSERS

Property features AI

Finance

• Other: Approximate living area reported as 6400 (per public records); Lot size approximately 0.1444 acres
• Financial info: Annual tax amount reported

Exterior

• Parking: Off-street parking
• Utilities: Electric service: Ameren; Cable available
• Home design: Residential income property (5 family or more)
• Construction: Brick construction
• Exterior features: Partial fencing

Interior

• Bedrooms: No main or upper level bedrooms reported
• Bathrooms: No main or upper level bathrooms reported
• Heating & cooling: Central Air
• Interior features: Central air conditioning

What this means for you Summary

Snapshot

• This is a 8 × 1-bed/1.0-bath units multifamily listed at $745k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $204/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $745k).
• Cap rate 8.9% 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 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.
• Zoned schools: Shenandoah Elem. (math 5% / reading 5%, grade F, #1,072 of 1,115 statewide, top 98%, 136 students, 98% FRL); Roosevelt High (math 2% / reading 8%, grade F, #517 of 521 statewide, top 100%, 460 students, 99% FRL) — zoned schools average 99% FRL vs 80% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.9%/yr); 240 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• At $7,736/mo this rent would consume 161% of the median local household income ($58k/yr) (locally 1495% 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 $5k of loan paydown is wiped out by about $22k 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 $209k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1927 — 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 $745,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.04% ✓
• Cap rate: 8.92%
• Cash-on-cash: 9.37%
• DSCR: 1.42
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $800,000
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3166 Arkansas Ave	0.55mi	8/8.0	5,600 (-12%)	1mo	$699,000	$125	53
3454 California Ave	0.74mi	13/6.0	6,520 (+2%)	14mo	$590,000	$90	51
2146 Victor St	0.61mi	10/5.0	5,976 (-7%)	15mo	$695,000	$116	48
3215 Nebraska Ave	0.39mi	10/4.0	5,752 (-10%)	24mo	$725,000	$126	45

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: -0.3%
• Equity multiple: 0.99×
• Total profit: $-2,270
• Equity at exit: $111,082

10-year hold

• IRR: 11.1%
• Equity multiple: 1.93×
• Total profit: $194,364
• Equity at exit: $64,414

Cash invested: $208,600 (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: 64.2×

Monthly cashflow live

• Estimated rent: $7,736 high
• Mortgage (P&I): −$3,907
• Tax from tax record: −$265 /mo · $3,181/yr
• Insurance: −$310
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,625
• Net cashflow: $1,629

Break-even live

Break-even rent $5,674

Max offer price $745,000

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 8× units	1	1	$7,736
Total (8 units)			$7,736

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: $186,250
• Closing costs: $22,350
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2303-2305 Russell Blvd St. Louis, MO	2.0	1.0	6204	$1,380	$0.22	14d	1	0.81mi
3868 Shaw Blvd St. Louis, MO	2.0	2.5	5058	$1,895	$0.37	43d	1	1.15mi

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark
2. 2026-06-17
   listed $745,000 Active 1 DOM

ⓘ 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: $3,181 · $265/mo
• Projected year-2 tax: $7,226 · $602/mo
• Expected delta: +$4,046/yr (+$337/mo · 127.2%)

ⓘ 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 · 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: $92,832
• − Mortgage interest: −$41,732
• − Property taxes: −$3,181
• − Insurance: −$3,725
• − Repairs & maintenance: −$7,427
• − Management: −$7,427
• − Depreciation: −$21,673
• Taxable income: $7,669
• Est. tax owed @ 24.0%: −$1,840
• After-tax cash flow: $17,709/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): 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

+496.0% since first listed

7 events — show timeline

• 2026-06-17 Listed $745,000 MARIS as Distributed by MLS Grid
• 2023-01-11 Sold (Public Records) — Public Records
• 2020-09-17 Sold (Public Records) — Public Records
• 2011-04-05 Sold (Public Records) $750,000 Public Records
• 2007-01-23 Sold (Public Records) $270,000 Public Records
• 2004-09-28 Sold (Public Records) $172,900 Public Records
• 2004-07-08 Sold (Public Records) $125,000 Public Records

Property tax history

+1.0%/yr

Latest (2024): $3,181 · +5.2% YoY. Source: county tax records.