3512 Mckean Ave · St. Louis, MO 63118

$240,000

4 bd · 2.0 ba · 2,624 sqft · MultiFamily public records · 16 Days on market

Built 1906 3,811 sqft lot Est $268k · 10% 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 +24.4/30.0
• ARV discount +12.1/15.0
• DSCR +7.9/10.0
• 1% rule +5.1/10.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Charming Tower Grove Heights two-family, being sold AS-IS. Special Sale Contract. 2 Nice big apartments with hardwood floors, lots of beautiful woodwork. The 2nd floor has a 3br townhouse, with the third bedroom on the 3rd floor. Fireplaces, built-in cabinets, ornate woodwork all intact and owner-occupied. It's a lovely building, forced air furnace with c/a, off-street parking, balcony, fenced yard. Across from Carpenter Library and walkable Utah Place

Key facts

• Fenced yard
• Ornate woodwork
• Built-in cabinets

Tags

• HARDWOOD FLOORS
• BUILT-IN CABINETS
• ORNATE WOODWORK
• FORCED AIR FURNACE
• OFF-STREET PARKING
• FENCED YARD

Property features AI

Finance

• Other: Lot frontage approximately 30 feet
• Financial info: Above-grade finished area reported as 2,624 (public records); Seller may consider concessions; No current lease/sublease

Exterior

• Parking: Concrete parking; Detached parking; Off-street parking
• Security: Smoke detectors
• Utilities: Public water; Sewer connected; Electricity connected (Ameren); Natural gas connected
• Home design: Residential income property (2-4 units); Duplex; Private ownership; City lot, level; Faces city street
• Construction: Brick and stone construction; Stone foundation
• Exterior features: Covered porch; Porch; Chain-link fencing; Storm door(s)

Interior

• Kitchen: Eat-in kitchen; Pantry
• Bedrooms: Two 2-bedroom units
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; High ceilings; Open floor plan; Pantry; Special millwork; Wood window frames; Decorative fireplaces (2)
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $488 ($6k/yr) — positive. Per door: $244/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $240k).
• Recommended offer: $236k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.7% 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: Froebel Elem. (math 8% / reading 8%, grade F, #1,052 of 1,115 statewide, top 95%, 176 students, 98% FRL); Gateway Middle (math 0% / reading 8%, grade F, #389 of 391 statewide, top 100%, 506 students, 99% 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); 242 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• At $2,432/mo this rent would consume 51% 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 $2k of loan paydown is wiped out by about $7k 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 $67k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $94k; list at $240k implies a 155% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1906 — 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 $236,400 (1.5% below list)

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 1906 — 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: 1.01% ✓
• Cap rate: 8.73%
• Cash-on-cash: 8.71%
• DSCR: 1.39
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $267,648
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3416 Utah St	0.13mi	4/2.0	2,700 (+3%)	1mo	$150,000	$56	88
3439 Utah St	0.12mi	5/2.0 (+1)	2,642 (+1%)	2mo	$359,000	$136	87
3418 Hartford St	0.39mi	5/2.0 (+1)	2,528 (-4%)	6mo	$319,999	$127	66
3161 Oregon Ave	0.64mi	4/—	2,706 (+3%)	2mo	$275,000	$102	63
3521 Hartford St	0.40mi	3/2.0 (-1)	2,448 (-7%)	3mo	$264,900	$108	62
3106 Chippewa St	0.68mi	4/2.0	2,490 (-5%)	2mo	$109,900	$44	58
3643 Winnebago St	0.44mi	4/2.0	2,250 (-14%)	3mo	$120,000	$53	54
3829 Minnesota Ave	0.72mi	4/2.0	2,798 (+7%)	2mo	$65,000	$23	53
3651 Winnebago St	0.44mi	4/2.0	2,250 (-14%)	4mo	$200,000	$89	52
3445 Iowa Ave	0.72mi	3/2.0 (-1)	2,724 (+4%)	4mo	$309,000	$113	52
3921 Miami St	0.61mi	4/2.0	2,304 (-12%)	0mo	$350,000	$152	51
3142 S Compton Ave	0.46mi	3/2.0 (-1)	2,244 (-14%)	6mo	$157,500	$70	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: -1.2%
• Equity multiple: 0.95×
• Total profit: $-3,211
• Equity at exit: $35,785

10-year hold

• IRR: 10.1%
• Equity multiple: 1.85×
• Total profit: $56,894
• Equity at exit: $20,751

Cash invested: $67,200 (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: 242
• Price-to-rent: 16.4×

Monthly cashflow live

• Estimated rent: $2,432 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$75 /mo · $899/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $488

Break-even live

Break-even rent $1,815

Max offer price $240,000

Occupancy floor 75%

Sensitivity live

Price	-10% $624	-5% $556	+0% $488	+5% $420	+10% $352
Rent	-10% $296	-5% $392	+0% $488	+5% $584	+10% $680
Rate	-1.0pp $609	-0.5pp $549	base $488	+0.5pp $426	+1.0pp $362

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,432
Total (2 units)			$2,432

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3458 Giles Ave Saint Louis, MO	3.0	2.5	2204	$2,400	$1.09	9d	1	0.22mi
3526 S Spring Ave Saint Louis, MO	4.0	2.0	2244	$2,877	$1.28	45d	1	0.34mi
3807 Potomac St Saint Louis, MO	3.0	1.0	2588	$1,100	$0.43	45d	1	0.39mi
3807 Potomac St Saint Louis, MO	3.0	1.0	2588	$1,300	$0.50	9d	1	0.39mi
3540 Michigan Ave Saint Louis, MO	4.0	2.0	1758	$1,800	$1.02	3d	1	0.44mi
3908 McDonald Ave Saint Louis, MO	3.0	2.0	1927	$2,500	$1.30	6d	1	0.49mi
3510 California Ave Saint Louis, MO	3.0	2.0	1800	$1,200	$0.67	45d	1	0.70mi
3429 Ohio Ave Saint Louis, MO	3.0	3.0	1938	$2,250	$1.16	17d	1	0.78mi
2643 Wyoming St Saint Louis, MO	3.0	2.5	2592	$2,600	$1.00	45d	1	0.84mi
4145-4147 Hartford St St. Louis, MO	4.0	3.5	2400	$3,800	$1.58	13d	1	0.96mi
2648 California Ave Saint Louis, MO	4.0	2.0	2458	$2,000	$0.81	25d	1	1.00mi
4222 S 38th St St. Louis, MO	3.0	2.0	1836	$1,400	$0.76	0d	1	1.02mi
4222 S 38th St Unit 4222 St. Louis, MO	3.0	2.0	1836	$1,400	$0.76	21d	1	1.02mi
4135 S Compton Ave Saint Louis, MO	3.0	2.0	2104	$1,600	$0.76	45d	1	1.03mi
2811 Missouri Ave Saint Louis, MO	4.0	2.5	2673	$3,622	$1.36	45d	1	1.19mi
3450 Wisconsin Ave Saint Louis, MO	1.0–3.0	1.0–2.0	1219	$2,300	$1.89	0d	15	1.19mi
4211 Cleveland Ave Saint Louis, MO	3.0	2.5	2056	$2,475	$1.20	0d	1	1.30mi
4312 Oregon Ave Saint Louis, MO	4.0	2.0	2032	$2,000	$0.98	0d	1	1.35mi
2253 Indiana Ave Saint Louis, MO	4.0	3.5	1760	$2,600	$1.48	9d	1	1.40mi

Listing history 9 events

1. 2026-06-07
   statusdays on market $240,000 Pending 16 DOM
2. 2026-06-05
   days on market $240,000 Active 15 DOM
3. 2026-06-03
   days on market $240,000 Active 14 DOM
4. 2026-06-02
   days on market $240,000 Active 13 DOM
5. 2026-06-01
   days on market $240,000 Active 12 DOM
6. 2026-05-31
   days on market $240,000 Active 11 DOM
7. 2026-05-20
   listed $257,000 Active
8. 2002-10-09
   soldstatus $94,000
9. 1994-03-10
   soldstatus

ⓘ 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: $899 · $75/mo
• Projected year-2 tax: $2,328 · $194/mo
• Expected delta: +$1,429/yr (+$119/mo · 159.1%)

ⓘ 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: $29,184
• − Mortgage interest: −$13,444
• − Property taxes: −$899
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,335
• − Management: −$2,335
• − Depreciation: −$6,982
• Taxable income: $1,990
• Est. tax owed @ 24.0%: −$478
• After-tax cash flow: $5,376/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

+173.4% since first listed

3 events — show timeline

• 2026-05-20 Listed $257,000 MARIS as Distributed by MLS Grid
• 2002-10-09 Sold (Public Records) $94,000 Public Records
• 1994-03-10 Sold (Public Records) — Public Records

Property tax history

+5.0%/yr

Latest (2024): $899 · +5.0% YoY. Source: county tax records.