Updated Triplex with Townhome
For Sale
$574,900
1133 Talmage Ave, Saint Louis, MO 63110
Three residential units include a vacant townhome and two occupied one-bedroom apartments.
Property Size4,128 SF
Price / SF$139.27
Days on Market54
Property Features for 1133 Talmage Ave
General Information
Standard status
Active
Size
4,128 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/2BA, 2 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$1,267
Amenities
updated kitchens
stainless steel appliances
updated bathrooms
fireplaces
central air
hardwood floors
in-unit washers and dryers
partially fenced backyard
patio space
balconies
Building Details
Buildings
1
Listing Agency:
Invest St. Louis
(314) 346-9723
Listed By:
Jeffrey Jollar · License #2026020322
(314) 346-9723
Source:
Exprealty
Added: Jun 20
Changed: Aug 12
Last Checked: Aug 12 at 2:58AM
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 Invest St. Louis
Investment Insights
Based on property information with market context.
This three-unit residential property at 1133 Talmage Ave includes a converted three-bedroom, two-bath townhome, along with two one-bedroom, one-bath units. The townhome is vacant, while the two one-bedroom residences have month-to-month occupants. Interior improvements include updated kitchens, stainless steel appliances in some units, renovated bathrooms, fireplaces, central air, hardwood flooring, and in-unit washers and dryers. Upper-level residences feature balconies, and the property also provides patio space and a partially fenced backyard.
The property is located in The Grove near Forest Park, the Missouri Botanical Garden, Cortex, Barnes-Jewish Hospital, and the shops, restaurants, and nightlife along Manchester Avenue. Its unit mix combines a larger townhome layout with two additional residences in a central St. Louis setting.
The property is located in The Grove near Forest Park, the Missouri Botanical Garden, Cortex, Barnes-Jewish Hospital, and the shops, restaurants, and nightlife along Manchester Avenue. Its unit mix combines a larger townhome layout with two additional residences in a central St. Louis setting.
Key Highlights
- Three‑unit residential property at 1133 Talmage Ave in The Grove
- Vacant converted three‑bedroom, two‑bath townhome unit
- Two one‑bedroom, one‑bath units with month‑to‑month occupants
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
$44,143
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
7.68%
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%
$882,860
$882.9K
Cap Rate 7%
$630,614
$630.6K
Cap Rate 9%
$490,478
$490.5K
Market Conditions
NOI Build-Up for 4,128 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
$66.9K $16.20/SF
− Vacancy
−$3.8K −$0.92/SF
EGI
$63.1K $15.28/SF
− OpEx
−$18.9K −$4.58/SF
NOI
$44.1K $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%
$882,860
Cap Rate 7%
$630,614
Cap Rate 9%
$490,478
Alternative Uses
Best Use
Multifamily LT 5
$630.6K
$551.8K – $735.7K
NOI $44,143 @ 7.0% cap · market cap 7.68%
Second Best
Apartment 5plus
$548.8K
$480.2K – $640.3K
NOI $38,415 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$885.9K
$775.2K – $1.03M
NOI $62,016 @ 7.0% cap · market cap 10.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,937
Businesses Nearby
Explore this area
Business Placement
Demographics for 63110, MO
18,199
Population
10,260
Households
1.8
Avg Household Size
33
Median Age
64%
College-Educated
97%
High-School Grad
6.6 sq mi
ZIP Area
2,757
Density / Sq Mi
$73,809
Median Household Income
$55,340
Median Earnings
$1,183
Median Rent
$314,600
Median Home Value
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?
Triplex - Three residential units include a vacant townhome and two occupied one-bedroom apartments.
Where is this triplex located?
The property is located at 1133 Talmage Ave Saint Louis, MO.
What is the asking price?
The asking price for this property is $574,900.
What are key features of this property?
This property features: Three‑unit residential property at 1133 Talmage Ave in The Grove; Vacant converted three‑bedroom, two‑bath townhome unit; Two one‑bedroom, one‑bath units with month‑to‑month occupants
