Single-Family Rental
For Sale
$1,349,000
1123 Rhea Avenue, Spanish Lake, MO 63138
Residential Income, Spanish Lake, MO
Property Size864 SF
Lot Size0.12 Acres
Price / SF$1,561
Days on Market67
Property Features for 1123 Rhea Avenue
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Bedrooms
7
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 7, Bedroom 6, Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 5, Bathroom 1
Subdivision
Larimore Hills
Elementary school
Larimore Elem.
Middle school
Southeast Middle
High school
Hazelwood East High
Elementary school district
Hazelwood
Middle school district
Hazelwood
High school district
Hazelwood
Directions
GPS
Standard status
Active
APN
09E-34-0663
Size
864 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1682
Utilities
Cooling system
Central Air
Building Details
Year built
1959
Building materials
Vinyl Siding
Architectural style
Ranch
Listing Agency:
Invest St. Louis
(314) 325-6201
Listed By:
Matt Guignon · License #2018041115
(314) 255-5117
Added: Jul 3
Changed: Sep 3
Last Checked: Sep 7 at 7:06PM
MLS# 26041344
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 offering is a 12-home single-family rental portfolio presented as one package. The homes feature a unit mix of 3- and 4-bedroom layouts. The portfolio is described as professionally managed and largely renovated/rent-ready, with four vacant homes currently being leased. Seller anticipates at least two additional homes will be leased prior to closing.
The properties are located throughout Spanish Lake, Ferguson, and unincorporated North St. Louis County, positioned for efficient management and maintenance given the scattered-site proximity.
Current gross rental income is approximately $11,519 per month, with projected gross rental income of approximately $14,100 per month after additional leasing. Fully stabilized pro-forma gross rental income is projected at approximately $16,700 per month. Estimated annual operating expenses are approximately $53,000, with projected stabilized NOI of approximately $147,000 per year.
The properties are located throughout Spanish Lake, Ferguson, and unincorporated North St. Louis County, positioned for efficient management and maintenance given the scattered-site proximity.
Current gross rental income is approximately $11,519 per month, with projected gross rental income of approximately $14,100 per month after additional leasing. Fully stabilized pro-forma gross rental income is projected at approximately $16,700 per month. Estimated annual operating expenses are approximately $53,000, with projected stabilized NOI of approximately $147,000 per year.
Key Highlights
- 12‑home single‑family rental portfolio sold as one package in the St. Louis market
- Unit mix of all 3- and 4‑bedroom homes across Spanish Lake, Ferguson, and unincorporated North St. Louis County
- Current gross rental income approx. $11,519/month, with four vacant homes fully rent‑ready and being leased
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 63138, MO
18,852
Population
9,033
Households
2.1
Avg Household Size
34
Median Age
15%
College-Educated
90%
High-School Grad
18.5 sq mi
ZIP Area
1,019
Density / Sq Mi
$51,714
Median Household Income
$32,840
Median Earnings
$1,073
Median Rent
$124,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Twelve single-family rental homes with a mix of 3- and 4-bedroom units, including four currently rent-ready vacancies.
Where is this single family property located?
The property is located at 1123 Rhea Avenue Spanish Lake, MO.
What is the asking price?
The asking price for this property is $1,349,000.
What are key features of this property?
This property features: 12‑home single‑family rental portfolio sold as one package in the St. Louis market; Unit mix of all 3- and 4‑bedroom homes across Spanish Lake, Ferguson, and unincorporated North St. Louis County; Current gross rental income approx. $11,519/month, with four vacant homes fully rent‑ready and being leased
