Updated Brick
For Sale
$459,000
1127 Forest Ave, Saint Louis, MO 63119
Two refreshed residences with private outdoor space, basement storage, and separate laundry facilities.
Property Size1,872 SF
Price / SF$245.19
Days on Market12
Property Features for 1127 Forest Ave
General Information
Standard status
Active
Size
1,872 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,552
Building Details
Buildings
1
Listing Agency:
RedKey Realty Leaders Circa
(314) 352-5200
Listed By:
Johanna Dueren
(314) 518-1261
Source:
Exprealty
Added: Sep 3
Changed: Sep 11
Last Checked: Sep 13 at 2:37PM
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 RedKey Realty Leaders Circa
Investment Insights
Based on property information with market context.
This 1,872-square-foot brick duplex contains two matching residences, each with a two-bedroom, one-bathroom layout. Interior improvements include refinished hardwood floors, new paint, updated ceiling fans, double-hung windows, renovated kitchens with granite counters and stainless steel appliances, and bathrooms with updated vanities and tiled tub and shower surrounds. A new roof was completed in 2025, along with a new sewer line and updates to the electrical and plumbing systems.
The full unfinished basement provides separate storage areas, painted masonry walls, concrete floors, and two dedicated washer-and-dryer sets. Exterior features include a covered brick porch and a fenced backyard with mature trees. The property is three blocks from Forest Park and within walking distance of Hi-Pointe Drive-In, The Cheshire, and dining along Clayton and Tamm Avenues. Washington University's Danforth Campus, Saint Louis University, Barnes-Jewish Hospital/BJC Healthcare Campus, and Downtown St. Louis are each under ten minutes by car.
The full unfinished basement provides separate storage areas, painted masonry walls, concrete floors, and two dedicated washer-and-dryer sets. Exterior features include a covered brick porch and a fenced backyard with mature trees. The property is three blocks from Forest Park and within walking distance of Hi-Pointe Drive-In, The Cheshire, and dining along Clayton and Tamm Avenues. Washington University's Danforth Campus, Saint Louis University, Barnes-Jewish Hospital/BJC Healthcare Campus, and Downtown St. Louis are each under ten minutes by car.
Key Highlights
- Two‑bedroom, one‑bathroom layout in each unit
- 1,872‑square‑foot duplex with brick construction
- New roof completed in 2025
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
$20,018
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
4.36%
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%
$400,360
$400.4K
Cap Rate 7%
$285,971
$286.0K
Cap Rate 9%
$222,422
$222.4K
Market Conditions
NOI Build-Up for 1,872 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
$30.3K $16.20/SF
− Vacancy
−$1.7K −$0.92/SF
EGI
$28.6K $15.28/SF
− OpEx
−$8.6K −$4.58/SF
NOI
$20.0K $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%
$400,360
Cap Rate 7%
$285,971
Cap Rate 9%
$222,422
Alternative Uses
Best Use
Multifamily LT 5
$286.0K
$250.2K – $333.6K
NOI $20,018 @ 7.0% cap · market cap 4.36%
Second Best
Apartment 5plus
$248.9K
$217.8K – $290.4K
NOI $17,421 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$401.8K
$351.5K – $468.7K
NOI $28,123 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,262
Businesses Nearby
Explore this area
Business Placement
Demographics for 63119, MO
34,793
Population
15,627
Households
2.2
Avg Household Size
41
Median Age
64%
College-Educated
98%
High-School Grad
8.4 sq mi
ZIP Area
4,142
Density / Sq Mi
$103,287
Median Household Income
$65,266
Median Earnings
$1,275
Median Rent
$330,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two refreshed residences with private outdoor space, basement storage, and separate laundry facilities.
Where is this duplex located?
The property is located at 1127 Forest Ave Saint Louis, MO.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bathroom layout in each unit; 1,872‑square‑foot duplex with brick construction; New roof completed in 2025
