Updated Four-Unit Brick
For Sale
$675,000
1301 Shenandoah Ave, Saint Louis, MO 63104
A varied one- to three-bedroom unit mix is paired with in-unit laundry and refreshed interiors.
Property Size5,040 SF
Price / SF$133.93
Days on Market14
Property Features for 1301 Shenandoah Ave
General Information
Standard status
Active
Size
5,040 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,620
Amenities
private yard
deck
in-unit laundry
detached garage
high ceilings
historic millwork
Building Details
Year Built
1890
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
The Agency
(314) 677-1477
Listed By:
Justin Taylor · License #2007032934
(314) 280-9996
Source:
Exprealty
Added: Sep 22
Changed: Oct 4
Last Checked: Oct 4 at 2:16PM
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 The Agency
Investment Insights
Based on property information with market context.
Built in 1890, this 5,040-square-foot brick quadplex at 1301 Shenandoah Ave contains four units with one-, two-, and three-bedroom layouts. Updates include kitchens with custom cabinetry, stone countertops, and stainless steel appliances, along with luxury vinyl flooring and in-unit laundry. High ceilings and historic millwork remain part of the interiors.
The property is in Soulard, a historic neighborhood in St. Louis. Outdoor features include a private yard and deck, while a detached garage and on-street parking provide parking options. All four units are tenant occupied.
The property is in Soulard, a historic neighborhood in St. Louis. Outdoor features include a private yard and deck, while a detached garage and on-street parking provide parking options. All four units are tenant occupied.
Key Highlights
- Four units totaling 5,040 square feet
- Unit mix includes one-, two-, and three‑bedroom layouts
- Built in 1890; brick construction with high ceilings and historic millwork
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
$53,896
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
7.98%
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%
$1,077,920
$1.1M
Cap Rate 7%
$769,943
$769.9K
Cap Rate 9%
$598,844
$598.8K
Market Conditions
NOI Build-Up for 5,040 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
$81.6K $16.20/SF
− Vacancy
−$4.7K −$0.92/SF
EGI
$77.0K $15.28/SF
− OpEx
−$23.1K −$4.58/SF
NOI
$53.9K $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%
$1,077,920
Cap Rate 7%
$769,943
Cap Rate 9%
$598,844
Alternative Uses
Best Use
Multifamily LT 5
$769.9K
$673.7K – $898.3K
NOI $53,896 @ 7.0% cap · market cap 7.98%
Second Best
Apartment 5plus
$670.0K
$586.3K – $781.7K
NOI $46,902 @ 7.0% cap · market cap 6.95%
Theoretical Best
Office A
$1.08M
$946.5K – $1.26M
NOI $75,717 @ 7.0% cap · market cap 11.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,122
Businesses Nearby
Explore this area
Business Placement
Demographics for 63104, MO
19,317
Population
10,958
Households
1.8
Avg Household Size
34
Median Age
54%
College-Educated
94%
High-School Grad
3.4 sq mi
ZIP Area
5,681
Density / Sq Mi
$70,127
Median Household Income
$53,693
Median Earnings
$1,054
Median Rent
$249,500
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?
Quadplex - A varied one- to three-bedroom unit mix is paired with in-unit laundry and refreshed interiors.
Where is this quadplex located?
The property is located at 1301 Shenandoah Ave Saint Louis, MO.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Four units totaling 5,040 square feet; Unit mix includes one-, two-, and three‑bedroom layouts; Built in 1890; brick construction with high ceilings and historic millwork
