Real Estate Investing in Spanish Lake, Missouri (63138)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 63138 (Spanish Lake, MO)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 20.1% of homes vacant — above national norms.
What’s happening in Spanish Lake, MO (63138)?
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Market Analysis: 63138 Spanish Lake
Not every below-median market is a bargain. Spanish Lake's 63138 ZIP clocks in at signals that favor experienced operators who can absorb the risk $152K pricing implies.
Turning to rents, the numbers look inviting — $152K purchase price, 0.0% nominal cap — the work to hit that pro forma in 63138 is substantial and deserves full respect.
Nearby ZIPs in Spanish Lake have seen price recovery that 63138 has not matched. Saint Louis County data supports the view that the spread is structural rather than temporary.
From an investor standpoint, 18,736 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
New investors are better served looking at Spanish Lake's stable or hybrid ZIPs before stepping into 63138. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Spanish Lake:
Property Strategy for 63138
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $100,589 | $1,190 | 8.5% | +6.9% | $50,294 |
| 3BR | $143,202 | $1,530 | 7.7% | +5.9% | $47,734 |
| 4BR | $191,082 | $1,770 | 6.7% | +5.5% | $47,770 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 63138 Compare?
| Metric | 63138 | Spanish Lake | St. Louis, MO-IL | Missouri |
|---|---|---|---|---|
| Home Value | $151,959 | $151,959 | N/A | $254,657 |
| 5-Year CAGR | 3.8% | 3.8% | N/A | 7.0% |
| Avg Rent | $1,339 | $1,339 | N/A | - |
| Cap Rate | 6.9% | 6.9% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 63138 (Spanish Lake, MO). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $151,959 |
| Monthly Rent | $1,339 |
| Price-to-Rent | 9.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 10.6% |
| Cap Rate | 6.9% |
| 5-Year IRR | 10.7% |
📈 Home Appreciation
| 1-Year | +7.1% ▲ |
| 3-Year CAGR | +1.9% ▲ |
| 5-Year CAGR | +3.8% ▲ |
| 10-Year CAGR | +8.0% ▲ |
🏠 Rent Trends
| 1-Year | -3.3% ▼ |
| 3-Year CAGR | +3.0% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (6.9%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 63138
Population: 18,736
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 63138
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 5,217 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How strong is Spanish Lake, MO for real estate investors?
Spanish Lake, MO scores 3.0/5 for investability. Home values sit at $152K and rents near $1,339/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
What price range are homes in Spanish Lake, MO?
Median home price in Spanish Lake, MO is near $152K, with a 5-year CAGR of 0.0%. Prices have been measured and supportive of buy-and-hold strategies.
How high is vacancy risk in Spanish Lake, MO?
Spanish Lake, MO carries elevated vacancy risk. Expect consistent absorption at market rents of $1,339/mo.
What does house hacking look like in Spanish Lake, MO?
The a challenging house-hack environment in Spanish Lake, MO reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
What investment strategy works best in Spanish Lake, MO?
In Spanish Lake, MO the robust play is typically careful cash-flow rentals with hands-on management. The combination of $152K prices and $1,339/mo rents suits that approach.
You know 63138 now. You don’t know where it ranks.
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How 63138 ranks in St. Louis, MO-IL
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