Posted by Dawn Griffin
House Hacking in Shaw: A $319,900 Way In
Priced Out of Shaw? Here’s How to Get In Anyway
If you’ve been house hunting in Shaw this year, you already know the sticker shock. The neighborhood’s median sale price just crossed $426,000. Homes are going under contract in about two weeks. And the classic Shaw brick two-story with the wide front porch you pictured yourself in? It’s probably listed north of $450K.
So when I tell first-time buyers there’s a way to own in Shaw — one block from Tower Grove Park, close enough to walk to the Missouri Botanical Garden — for $319,900, I usually get a “wait, how?”
Here’s how. You buy a two-family, live in one side, and let a tenant help make the payment on the other.
The Property: 4265 Botanical
This 1906 two-family flat sits on a quiet cul-de-sac just off Botanical Avenue. It’s one block from Tower Grove Park and a short walk to the Garden. It’s listed at $319,900 — roughly $100K under Shaw’s current median — and it’s not a fixer-upper wishing well. The big-ticket systems are already handled:
- Central air and high-efficiency furnaces installed on both units in 2024
- New breaker box and meter base (2024)
- Water and sewer lines updated in 2008 with 1″ copper
- Newer vinyl windows throughout
- 1st floor: 2026 quartz countertops, updated circuit breakers
- 2nd floor: 2026 dishwasher and vanity, decorative fireplace, Lenox furnace
- Washer and dryer convey
Each unit is a comfortable 1 bed/1 bath, 1,716 square feet combined. Translation: this isn’t a project. It’s a place you can move into and let the location and the numbers do the work.
The Math: How a Tenant Offsets Your Mortgage
This is the part people skip past and shouldn’t. Here’s roughly how house hacking works on this property:
- You buy the property and move into one unit.
- You rent the second 1BR/1BA unit — comparable units in Shaw are currently renting in the $950–$1,200/month range.
- That rent gets applied directly against your mortgage payment, not your income.
What a Rate Buy-Down Does to Your Monthly Payment
The seller is open to contributing toward a rate buy-down. This temporarily lowers your interest rate — and your payment — right when it counts most: your first year or two of ownership. Better Rate Mortgage ran the numbers* on this property at $319,900 with 5% down (a $303,905 loan):
A 2-1 buydown drops your payment from $1,920.89 to $1,539.84 in year one — a savings of $381.05 a month. Then in year two the payment would be $1,725.54, still $195.35 below your note-rate payment. A 1-0 buydown drops your payment from $1,920.89 to $1,725.54 for year one only. This gives you the same $195.35 monthly savings, before returning to your full note rate.
Here’s the trade-off between the two structures:
- 2-1 buydown costs more upfront — about $6,917, or roughly 2.16% of the purchase price, typically covered by seller concession — but it gives you two years of meaningfully lower payments to settle in, build savings, or watch to see if rates come down enough to refinance.
- 1-0 buydown is a lighter ask of the seller — about $2,344, or roughly 0.73% of the purchase price — with a smaller but still real cushion in year one.
Why This Location Specifically
Tower Grove Park and the Missouri Botanical Garden aren’t just nice amenities. They are two of the reasons Shaw commands the prices it does. Buying a block off Botanical puts you in walking distance of both, on a quiet cul-de-sac with easy bike route access, without needing the $450K+ that a single-family in the same radius requires right now.
Whether you eventually convert this into a full owner-occupied home, keep it as a long-term income property, or use it as a stepping stone toward your next Shaw purchase, you’re building equity in one of St. Louis’s most consistently in-demand neighborhoods from day one.
Is a Two-Family Right for You?
House hacking isn’t for everyone, and it’s worth an honest look before you fall in love with the numbers:
- You’re comfortable being a landlord — even a small-scale one. Screening a tenant, handling a maintenance call, understanding Missouri landlord-tenant law.
- You want built-in flexibility. Life changes — a growing family, a job move, aging parents — and a two-family lets you occupy either unit or convert to a full rental down the line.
- You want to build equity somewhere the numbers already work. With 2024 mechanicals and 2026 kitchen/bath updates already done, this isn’t a home where the “hack” comes with a renovation bill attached.
Frequently Asked Questions
What is house hacking?
House hacking is a strategy where you buy a multi-family property, live in one unit, and rent out the other unit or units. The rental income can help offset your monthly mortgage payment and other housing expenses.
Can I use owner-occupant financing to buy 4265 Botanical Avenue?
Because 4265 Botanical Avenue is a two-family property, buyers who plan to live in one unit may be able to use owner-occupant financing, including certain conventional or FHA loan programs. Loan eligibility, down payment requirements, and property qualifications vary, so buyers should confirm current options with their lender.
How much could the second unit at 4265 Botanical Avenue rent for?
One-bedroom apartments in the Shaw neighborhood may rent for approximately $950–$1,200 per month, depending on condition, amenities, lease terms, and current market demand. Buyers considering 4265 Botanical as a house-hacking or investment opportunity should obtain a current rental analysis before relying on projected rental income.
What updates have been made to 4265 Botanical Avenue?
Both units received new central air conditioning and high-efficiency furnaces in 2024. Additional improvements include water and sewer line updates in 2008, newer vinyl windows, and electrical improvements completed in 2024. The first-floor unit received quartz countertops in 2026, while the second-floor unit received a new dishwasher and bathroom vanity in 2026.
Thinking Through the Numbers?
House hacking isn’t complicated, but it does help to walk through it with someone who knows the Shaw market and can pressure-test the numbers with you — financing options, what a fair rent estimate looks like for this unit, and whether a rate buy-down makes sense for your situation.
If this sounds like it could work for you, reach out and we’ll set up a time to look at the property together and run your specific numbers. Visit the property website.
