3654 Montana St · St. Louis, MO 63116

$250,000

24 bd · 4.0 ba · 3,716 sqft · MultiFamily public records · 65 Days on market

Built 1925 5,401 sqft lot $67/sqft · 13% above area Est $222k · 13% over

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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 +8.4/10.0
• Rent growth +3.2/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.8/15.0
• 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

Well-maintained 4-family right in the heart of Dutchtown, offers a great opportunity for investors and owner-occupants. As 3 of the 4 units are rented, with one being left vacant for a potential owner-occupant. Each unit features a 1-bedroom, 1- bath layout, with the upstairs units offering a true private bedroom. With heavy turns in each unit, this is a prime opportunity to have a fresh start and hit the ground running on this one.

Key facts

• 5,401 sq ft lot
• Built 1925
• Listed 65 days

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $267/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $235k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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 (+2.6%/yr); 255 active listings in the ZIP; 294 units permitted in St. Louis city in 2024 (227 in 5+ unit buildings).
• At $3,346/mo this rent would consume 65% of the median local household income ($61k/yr) (locally 1923% 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 + 2.6% rent growth), your $70k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y ago; this cycle's ask has dropped $25k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $58k; list at $250k implies a 331% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $235,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% 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 1925 — 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: 1.34% ✓
• Cap rate: 11.43%
• Cash-on-cash: 18.34%
• DSCR: 1.82
• GRM: 6.2

CMA / ARV

• ARV (median comp): $221,752
• List price: $250,000
• Delta: 12.74%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.62% rent growth · sell at horizon

5-year hold

• IRR: 9.6%
• Equity multiple: 1.38×
• Total profit: $26,309
• Equity at exit: $37,276

10-year hold

• IRR: 18.4%
• Equity multiple: 2.50×
• Total profit: $105,279
• Equity at exit: $21,615

Cash invested: $70,000 (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 63116

• Rents YoY: 2.6%
• Active inventory: 255
• Price-to-rent: 24.9×

Monthly cashflow live

• Estimated rent: $3,346 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$158 /mo · $1,900/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$703
• Net cashflow: $1,070

Break-even live

Break-even rent $1,992

Max offer price $250,000

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$3,348
Total (4 units)			$3,346

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-18
   price $250,000 Active 65 DOM
2. 2026-06-18
   days on market $265,000 Active 65 DOM
3. 2026-06-17
   days on market $265,000 Active 64 DOM
4. 2026-06-16
   days on market $265,000 Active 63 DOM
5. 2026-06-15
   days on market $265,000 Active 62 DOM
6. 2026-06-13
   days on market $265,000 Active 60 DOM
7. 2026-06-09
   days on market $265,000 Active 56 DOM
8. 2026-06-08
   days on market $265,000 Active 55 DOM
9. 2026-06-08
   days on market $265,000 Active 54 DOM
10. 2026-06-05
    days on market $265,000 Active 51 DOM
11. 2026-06-03
    days on market $265,000 Active 50 DOM
12. 2026-06-02
    days on market $265,000 Active 49 DOM
13. 2026-06-01
    days on market $265,000 Active 48 DOM
14. 2026-05-31
    days on market $265,000 Active 47 DOM
15. 2026-05-15
    price $265,000 436-char remark

    Show marketing remark (436 chars)

    Well-maintained 4-family right in the heart of Dutchtown, offers a great opportunity for investors and owner-occupants. As 3 of the 4 units are rented, with one being left vacant for a potential owner-occupant. Each unit features a 1-bedroom, 1- bath layout, with the upstairs units offering a true private bedroom. With heavy turns in each unit, this is a prime opportunity to have a fresh start and hit the ground running on this one.

16. 2026-04-14
    listed $275,000 Active 436-char remark

    Show marketing remark (436 chars)

    Well-maintained 4-family right in the heart of Dutchtown, offers a great opportunity for investors and owner-occupants. As 3 of the 4 units are rented, with one being left vacant for a potential owner-occupant. Each unit features a 1-bedroom, 1- bath layout, with the upstairs units offering a true private bedroom. With heavy turns in each unit, this is a prime opportunity to have a fresh start and hit the ground running on this one.

17. 2025-07-30
    historical Active Under Contract
18. 2025-07-01
    status Active
19. 2025-06-23
    price $235,000
20. 2025-04-07
    price $259,900
21. 2025-02-07
    listed $275,000 Active
22. 2022-08-07
    price $650
23. 2022-01-13
    soldstatus Closed
24. 2022-01-08
    status Pending
25. 2021-12-04
    historical Active Under Contract
26. 2021-11-29
    listed $249,900 Active
27. 2021-11-29
    historical $249,900
28. 2021-03-01
    soldstatus Closed
29. 2021-02-25
    status Pending
30. 2021-01-04
    historical Active Under Contract
31. 2020-12-09
    status Active
32. 2020-11-03
    historical Active Under Contract
33. 2020-09-29
    listed $179,500 Active
34. 2002-06-05
    soldstatus $58,000

ⓘ 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: $1,900 · $158/mo
• Projected year-2 tax: $2,425 · $202/mo
• Expected delta: +$525/yr (+$44/mo · 27.7%)

ⓘ 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: $40,152
• − Mortgage interest: −$14,004
• − Property taxes: −$1,900
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,212
• − Management: −$3,212
• − Depreciation: −$7,273
• Taxable income: $9,301
• Est. tax owed @ 24.0%: −$2,232
• After-tax cash flow: $10,606/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): 42,170
• Household income: $61,433
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 1923.0

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 54% Black 27% Hispanic / Latino 10% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 4% Romanian 2% Italian 2%
• Foreign-born: 11% · Canada, Vietnam, Philippines
• Languages at home: 85% English-only · Spanish 6% Vietnamese 2% Arabic 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: ▼ -271.19%
• Current HPI: 215.7108
• Rent YoY: ▲ 2.62%
• 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

+356.9% since first listed

20 events — show timeline

• 2026-05-15 Price Changed $265,000 MARIS as Distributed by MLS Grid
• 2026-04-14 Listed $275,000 MARIS as Distributed by MLS Grid
• 2025-07-30 Contingent — MARIS as Distributed by MLS Grid
• 2025-07-01 Relisted — MARIS as Distributed by MLS Grid
• 2025-06-23 Price Changed $235,000 MARIS as Distributed by MLS Grid
• 2025-04-07 Price Changed $259,900 MARIS as Distributed by MLS Grid
• 2025-02-07 Listed $275,000 MARIS as Distributed by MLS Grid
• 2022-08-07 Price Changed $650 RENT.
• 2022-01-13 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2022-01-08 Pending — MARIS as Distributed by MLS Grid
• 2021-12-04 Contingent — MARIS as Distributed by MLS Grid
• 2021-11-29 Listed $249,900 MARIS as Distributed by MLS Grid
• 2021-11-29 Coming Soon $249,900 MARIS as Distributed by MLS Grid
• 2021-03-01 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2021-02-25 Pending — MARIS as Distributed by MLS Grid
• 2021-01-04 Contingent — MARIS as Distributed by MLS Grid
• 2020-12-09 Relisted — MARIS as Distributed by MLS Grid
• 2020-11-03 Contingent — MARIS as Distributed by MLS Grid
• 2020-09-29 Listed $179,500 MARIS as Distributed by MLS Grid
• 2002-06-05 Sold (Public Records) $58,000 Public Records

Property tax history

+6.9%/yr

Latest (2024): $1,900 · +5.1% YoY. Source: county tax records.