Brick Duplex with Covered
For Sale
$425,000
1807 Princeton Place, Richmond Heights, MO 63117
Residential Income, Richmond Heights, MO
Property Size2,980 SF
Lot Size0.19 Acres
Price / SF$142.62
Days on Market40
Property Features for 1807 Princeton Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 5, Bedroom 2, Bedroom 3, Bedroom 4, Dining Room, Bathroom 2, Bedroom 1, Basement
Parking features
Driveway, Off Street
Patio and Porch features
Porch
Interior features
Separate Dining
Basement
Unfinished, Walk-Out Access, Storage Space
Appliances
Dishwasher, Refrigerator, Washer/Dryer Stacked, Gas Water Heater
Subdivision
Richmond Heights
Elementary school
Mrh Elementary
Middle school
Mrh Middle
High school
Maplewood-Richmond Hgts. High
Elementary school district
Maplewood-Richmond Heights
Middle school district
Maplewood-Richmond Heights
High school district
Maplewood-Richmond Heights
Standard status
Active
APN
20J-31-0634
Size
2,980 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5711
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
covered deck
Building Details
Year built
1928
Floors in Building
2
Number of units
2
Flooring type
Hardwood
Building materials
Brick, Plaster
Architectural style
Other
Listing Agency:
The Agency
(314) 677-1477
Listed By:
Justin Taylor · License #2007032934
(314) 280-9996
Added: Jul 22
Changed: Aug 27
Last Checked: Aug 30 at 4:06AM
MLS# 26027541
Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit brick residence contains 2,980 square feet on a 0.186-acre lot and was built in 1928. The lower apartment includes a living room, updated kitchen, bathroom, and three bedrooms. The upper unit features a large living room, dining room, two bedrooms, an updated vanity, a tiled kitchen with stainless steel appliances, and a covered deck. Both apartments include hardwood flooring, in-unit laundry, central air, and forced-air heating. One unit is vacant, while the other is leased.
The property is located across from MRH Elementary in Richmond Heights, with access to Clayton and highways 40 and 44. Additional features include brick and plaster construction, separate dining space, public water, driveway parking, and off-street parking.
The property is located across from MRH Elementary in Richmond Heights, with access to Clayton and highways 40 and 44. Additional features include brick and plaster construction, separate dining space, public water, driveway parking, and off-street parking.
Key Highlights
- 2,980 square feet on a 0.186‑acre lot
- Two‑unit brick residence built in 1928
- Five‑bedroom layout with separate living and dining areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,867
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$637,340
$637.3K
Cap Rate 7%
$455,243
$455.2K
Cap Rate 9%
$354,078
$354.1K
Market Conditions
NOI Build-Up for 2,980 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$48.3K $16.20/SF
− Vacancy
−$2.8K −$0.92/SF
EGI
$45.5K $15.28/SF
− OpEx
−$13.7K −$4.58/SF
NOI
$31.9K $10.69/SF
Area
St. Louis County, MO
Vacancy
5.70%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$637,340
Cap Rate 7%
$455,243
Cap Rate 9%
$354,078
Alternative Uses
Best Use
Multifamily LT 5
$455.2K
$398.3K – $531.1K
NOI $31,867 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$396.2K
$346.7K – $462.2K
NOI $27,732 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$639.6K
$559.6K – $746.2K
NOI $44,769 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
Explore this area
Business Placement
Demographics for 63117, MO
9,660
Population
4,917
Households
2
Avg Household Size
37
Median Age
74%
College-Educated
99%
High-School Grad
2.4 sq mi
ZIP Area
4,025
Density / Sq Mi
$86,667
Median Household Income
$59,872
Median Earnings
$1,216
Median Rent
$330,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residence with updated kitchens, in-unit laundry, hardwood floors, and separate living areas.
Where is this duplex located?
The property is located at 1807 Princeton Place Richmond Heights, MO.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 2,980 square feet on a 0.186‑acre lot; Two‑unit brick residence built in 1928; Five‑bedroom layout with separate living and dining areas
