4-Unit Apartment
New
For Sale
$535,000
Pending
10372 Parkman Dr, Saint Louis, MO 63123
Four occupied residences each include two bedrooms, one bathroom, and a private composite deck.
Property Size3,514 SF
Days on Market4
Property Features for 10372 Parkman Dr
General Information
Standard status
Pending
Size
3,514 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Asking Price
$535,000
Amenities
composite decks
laundry hookups
dedicated storage units
Building Details
Year Built
1971
Listing Agency:
Salient Realty Group, LLC
Listed By:
DRG - Delhougne Realty Group
(636) 238-3830
Source:
Drgstl
Added: Oct 1
Changed: Oct 4
Last Checked: Oct 4 at 9:00AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Salient Realty Group, LLC
Investment Insights
Based on property information with market context.
Built in 1971, this 3,514-square-foot apartment property contains four two-bedroom, one-bathroom units. Each residence has a composite deck, and the lower level provides two tuck-under garages with two-car capacity, individual entrances, laundry hookups, and separate storage for each apartment. All four units are occupied; two have long-term tenants.
Improvements completed since 2019 include composite decking and aluminum railings. Apartment B received a replacement A/C unit in June 2023 and an upgraded window, while Apartment C’s A/C unit was replaced in June 2021. Apartment A received a replacement evaporator coil. The owner currently handles management and pays for water, sewer, trash, landscaping, and snow removal.
Improvements completed since 2019 include composite decking and aluminum railings. Apartment B received a replacement A/C unit in June 2023 and an upgraded window, while Apartment C’s A/C unit was replaced in June 2021. Apartment A received a replacement evaporator coil. The owner currently handles management and pays for water, sewer, trash, landscaping, and snow removal.
Key Highlights
- Four occupied apartments, each with 2 bedrooms and 1 bathroom
- 3,514 square feet; built in 1971
- Two tuck‑under garages with two‑car capacity and individual entrances
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
$37,577
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
7.02%
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%
$751,540
$751.5K
Cap Rate 7%
$536,814
$536.8K
Cap Rate 9%
$417,522
$417.5K
Market Conditions
NOI Build-Up for 3,514 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
$56.9K $16.20/SF
− Vacancy
−$3.2K −$0.92/SF
EGI
$53.7K $15.28/SF
− OpEx
−$16.1K −$4.58/SF
NOI
$37.6K $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%
$751,540
Cap Rate 7%
$536,814
Cap Rate 9%
$417,522
Alternative Uses
Best Use
Multifamily LT 5
$536.8K
$469.7K – $626.3K
NOI $37,577 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$467.2K
$408.8K – $545.0K
NOI $32,701 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$754.2K
$659.9K – $879.9K
NOI $52,792 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
130
Businesses Nearby
Explore this area
Business Placement
Demographics for 63123, MO
50,989
Population
23,208
Households
2.2
Avg Household Size
41
Median Age
36%
College-Educated
92%
High-School Grad
12.5 sq mi
ZIP Area
4,079
Density / Sq Mi
$74,187
Median Household Income
$43,458
Median Earnings
$987
Median Rent
$205,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied residences each include two bedrooms, one bathroom, and a private composite deck.
Where is this quadplex located?
The property is located at 10372 Parkman Dr Saint Louis, MO.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Four occupied apartments, each with 2 bedrooms and 1 bathroom; 3,514 square feet; built in 1971; Two tuck‑under garages with two‑car capacity and individual entrances
