St. Louis is a two-jurisdiction market — the City of St. Louis and St. Louis County split in 1876 and never rejoined. Separate assessors, separate recorders, and roughly ninety county municipalities with their own occupancy rules mean South City brick doubles, Tower Grove South O-O flips, and North County BRRRR stock run on different math under different governments.
Hard money lenders in St. Louis fund what regional banks avoid: 100-year-old brick with tuckpointing scope, estates with messy title, occupancy-permit repositions, and 7–14 day proof-of-funds windows on trustee sales.
Statewide: Missouri hard money · Missouri fix and flip · Missouri DSCR. Illinois side of the MSA: Metro East hard money · Southern Illinois investor guide · Metro East vs St. Louis MO. Midwest compare: Kansas City · Columbus · Indianapolis.
Who invests in St. Louis — and why
| Profile | Playbook |
|---|---|
| South City stacker | Brick double sub-$200K all-in → MO DSCR recycle |
| Tower Grove flipper | Historic brick → O-O buyer near the park |
| North County operator | Sub-$170K all-in SFR, yield-first hold |
| Auction buyer | Trustee sale with tuckpointing in draw one |
St. Louis rewards city/county comp discipline, masonry scope honesty, and occupancy-permit sequencing — not coastal appreciation playbooks.
2026 price bands (realistic)
| Corridor | Acquisition | Rehab | ARV / rent |
|---|---|---|---|
| Bevo Mill brick SFR/double | $60K–$140K | $40K–$75K | $140K–$215K; $1,750–$2,400/mo gross (2-unit) |
| Tower Grove South | $120K–$220K | $50K–$90K | $230K–$340K O-O resale |
| North County (Ferguson–Florissant) | $50K–$115K | $30K–$60K | $110K–$175K; $1,000–$1,350/mo |
| Dutchtown double | $55K–$120K | $45K–$80K | $130K–$200K; yield-weighted |
| Princeton Heights bungalow | $110K–$180K | $35K–$65K | $185K–$255K O-O resale |
Programs in the St. Louis metro
| Program | Use case |
|---|---|
| Hard money | Speed + masonry/distressed condition |
| Fix and flip | O-O resale corridors |
| DSCR | Permanent debt after lease-up |
| Missouri statewide hub | Cross-metro comparison |
Loan terms (2026)
| Parameter | Range |
|---|---|
| Rates | 8.99%–13.5% IO |
| LTC | Up to 90% |
| Close | 7–14 business days |
| Term | 12–18 months |
Worked example: Bevo Mill brick double BRRRR
Acquisition: $92,000 side-by-side brick two-family — one unit vacant, parapet cracking, original box gutters.
Rehab: $58,000 — tuckpointing and parapet rebuild, box-gutter relining, dual furnaces, kitchens/baths.
All-in: $150,000
Hard money: 87% LTC · 9-day close · 10.75% IO
Stabilized rent: $1,095 + $1,050 = $2,145/mo gross
Appraisal: $198,000
DSCR refi: 72% LTV → recycle equity into the next South City double
City Certificate of Inspection scheduled at rough-in — not after the lease was signed.
Worked example: Tower Grove South O-O flip
Acquisition: $168,000 brick four-square off Morganford — estate sale, knob-and-tube, dead HVAC
Rehab: $74,000 — rewire, HVAC, kitchen/bath, refinished millwork, tuckpointing
All-in: $242,000
Hard money: 85% LTC · 10-day close · 10.25% IO
Sale: $305,000 at 9-month mark — O-O buyer paying for park proximity and finished brick
Net spread (est.): ~$22,700 after carry and 8% selling costs
St. Louis diligence checklist
- Masonry — tuckpointing, parapet, and box-gutter scope on all pre-1940 brick; get the masonry bid before LOI
- Jurisdiction — City vs County on every document: assessor, recorder, permit office all change at the line
- Occupancy permits — City Certificate of Inspection; county municipalities (Florissant, Ferguson, Maplewood, dozens more) run their own re-occupancy inspections
- Lead paint — pre-1978 stock requires EPA RRP-compliant scope on rentals
- Earnings tax — City of St. Louis levies a 1% earnings tax; model entity treatment with your CPA
- Historic districts — South City national-register districts can unlock the Missouri 25% historic credit on qualifying rehabs — and add review requirements
Neighborhood deep-dives (2026)
| Corridor | Guide |
|---|---|
| Bevo Mill | Brick double yield stack |
| Tower Grove South | Park-adjacent O-O premium |
| North County | Occupancy-permit BRRRR lane |
Full ranking: Best St. Louis neighborhoods for flipping 2026
Brick reality
St. Louis is one of America’s great brick cities, and that stock is now 80–120 years old. Tuckpointing runs $8–$14 per square foot, full parapet rebuilds hit five figures, and box gutters fail invisibly until the joists tell you. The masonry line belongs in draw one, priced by a masonry contractor — not a GC allowance. Files that treat brick as “no exterior scope needed” are the ones that stall at draw three.
Missouri DSCR exit pairing
Hard money is a bridge. Stabilized South City doubles and North County SFRs exit to Missouri DSCR at 70%–75% LTV when leases, the occupancy certificate, and a reassessment-adjusted tax line are documented.
Compare Midwest depth markets
| St. Louis | Kansas City | Columbus | |
|---|---|---|---|
| Two-unit buy | $55K–$160K | $85K–$165K | $125K–$195K |
| Unique drag | City/county line + masonry | Hail roof + MO/KS line | Franklin reassessment |
| Flip guide | Published | Published | Published |
Submission checklist (STL metro)
- Purchase contract with 7–14 day close and title commitment
- Masonry + mechanical scope in GC bid — tuckpointing line on all pre-1940 brick
- Three sold comps within corridor and jurisdiction — city solds stay on city files
- Occupancy-permit plan — which office, what inspection, scheduled when
- Entity docs — MO LLC, operating agreement, EIN
- 6–8 months IO reserve on two-family repositions
Proof-of-funds timing
Missouri trustee sales move fast — publication to courthouse steps in roughly 60 days statewide — and St. Louis trustee and estate listings often require 48-hour POF. Hard money pre-qualification before the block walk prevents losing $60K–$140K Bevo basis to operators who submitted POF on day one.
Entity and reserve requirements
STL files fund in MO LLC structures with operating agreement and EIN in the submission packet. Two-family repositions require 6–8 months IO reserve documented at close — masonry surprises and permit scheduling are the most common reserve breaches on South City acquisitions.
Analyzing a city or county St. Louis acquisition? Pre-qualify for hard money or call (833) 264-7776 for proof of funds before your next St. Louis offer.
Rates, terms and conditions offered only to qualified borrowers and are subject to change without notice. All loans are subject to full underwriting. Jaken Finance Group only finances non-owner occupied investment properties.