4-Unit Brick
New
For Sale
$650,000
1309 Shenandoah Avenue, Saint Louis, MO 63104
Residential Income, St Louis, MO
Property Size4,512 SF
Lot Size0.08 Acres
Price / SF$144.06
Days on Market2
Property Features for 1309 Shenandoah Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 4, Bathroom 5, Bedroom 3, Bedroom 2, Bedroom 6, Bathroom 3, Bedroom 1, Bedroom 5, Bathroom 2, Bathroom 1, Basement, Bedroom 4, Bathroom 6
Parking features
On Street
Patio and Porch features
Deck
Interior features
Built-in Features, Ceiling Fan(s), Custom Cabinetry, Granite Counters, High Ceilings, Historic Millwork, Shower, Tub
Exterior features
Private Yard
Fencing
Fenced, Chain Link
Appliances
Stainless Steel Appliance(s), Dishwasher, Disposal, Freezer, Microwave, Built-In Gas Range, Refrigerator, Washer/Dryer
Subdivision
Allens Add
Lot features
Back Yard, City Lot, Level
Elementary school
Sigel Elem. Comm. Ed. Center
Middle school
L'Ouverture Middle
High school
Roosevelt High
Elementary school district
St. Louis City
Middle school district
St. Louis City
High school district
St. Louis City
Directions
Please Use GPS :)
Standard status
Active
APN
0787-00-0080-0
Size
4,512 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4747
Utilities
Cooling system
Central Air, Electric
Water source
Public
Amenities
in-unit laundry
private backyard
deck
Building Details
Year built
1892
Floors in Building
3
Number of units
4
Flooring type
Vinyl
Building materials
Brick
Architectural style
Other
Listing Agency:
The Agency
(314) 677-1477
Listed By:
Justin Taylor · License #2007032934
(314) 280-9996
Added: Oct 1
Changed: Oct 2
Last Checked: Oct 2 at 10:06PM
MLS# 26061511
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.
Built in 1892, this 4,512-square-foot brick quadplex contains two one-bedroom, one-bath units and two two-bedroom, two-bath units. Each residence has high ceilings, historic millwork, custom cabinetry, granite counters, stainless steel appliances, vinyl flooring, and in-unit laundry. One two-bedroom unit is furnished. Central air and on-street parking serve the property.
The 0.0827-acre parcel includes a fenced private yard and deck. The building is in Soulard, St. Louis, and all four units are tenant-occupied.
The 0.0827-acre parcel includes a fenced private yard and deck. The building is in Soulard, St. Louis, and all four units are tenant-occupied.
Key Highlights
- Four occupied units: two 1‑bedroom/1‑bath and two 2‑bedroom/2‑bath layouts
- 4,512‑square‑foot brick building constructed in 1892
- Custom cabinetry, granite counters, stainless steel appliances, and in‑unit laundry in each residence
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
$48,250
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
7.42%
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%
$965,000
$965.0K
Cap Rate 7%
$689,286
$689.3K
Cap Rate 9%
$536,111
$536.1K
Market Conditions
NOI Build-Up for 4,512 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
$73.1K $16.20/SF
− Vacancy
−$4.2K −$0.92/SF
EGI
$68.9K $15.28/SF
− OpEx
−$20.7K −$4.58/SF
NOI
$48.2K $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%
$965,000
Cap Rate 7%
$689,286
Cap Rate 9%
$536,111
Alternative Uses
Best Use
Multifamily LT 5
$689.3K
$603.1K – $804.2K
NOI $48,250 @ 7.0% cap · market cap 7.42%
Second Best
Apartment 5plus
$599.8K
$524.9K – $699.8K
NOI $41,989 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$968.4K
$847.3K – $1.13M
NOI $67,785 @ 7.0% cap · market cap 10.43%
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
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
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
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Frequently Asked Questions
What type of property is this?
Quadplex - All four residences are occupied, with a mix of one- and two-bedroom layouts.
Where is this quadplex located?
The property is located at 1309 Shenandoah Avenue Saint Louis, MO.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Four occupied units: two 1‑bedroom/1‑bath and two 2‑bedroom/2‑bath layouts; 4,512‑square‑foot brick building constructed in 1892; Custom cabinetry, granite counters, stainless steel appliances, and in‑unit laundry in each residence
