Brick Multifamily Property with Off-Street
New
For Sale
$539,900
1841 S 10th Street St, Louis, MO 63104
Residential Income, St Louis, MO
Property Size3,540 SF
Lot Size0.08 Acres
Price / SF$152.51
Days on Market2
Property Features for 1841 S 10th Street St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 4, Bathroom 2
Parking features
Off Street, Alley, Parking Lot, On Street
Window features
Blinds
Interior features
High Ceilings, Laminate Counters
Basement
Full
Appliances
Stainless Steel Appliance(s), Free-Standing Gas Range
Subdivision
Soulards Add 03
Lot features
Back Yard, City Lot, Near Park, Near Public Transit
Elementary school
Sigel Elem. Comm. Ed. Center
Middle school
Long Middle Community Ed. Center
High school
Roosevelt High
Elementary school district
St. Louis City
Middle school district
St. Louis City
High school district
St. Louis City
Directions
GPS
Standard status
Active
APN
0395-00-0100-0
Size
3,540 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3702
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
central air
laundry
Building Details
Year built
1890
Flooring type
Tile, Laminate, Vinyl
Building materials
Brick
Roof type
Shingle
Architectural style
Other
Listing Agency:
Invest St. Louis
(314) 325-6201
Listed By:
Joey Schenck · License #2025043112
(314) 255-5117
Added: Sep 10
Changed: Sep 11
Last Checked: Sep 11 at 7:06AM
MLS# 26056896
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 1890, this 3,540-square-foot brick multifamily property combines an upper-level owner's residence with two first-floor apartments. The residence includes large rooms, high ceilings, a spacious kitchen, dedicated laundry, central air, and updated electrical and PVC plumbing. An unfinished lofted attic adds vaulted ceilings and exposed brick, with prior architectural plans envisioning two bedrooms and two bathrooms. The property also has a shingle roof, public water, and off-street parking.
Located at 1841 S 10th Street in St. Louis' Soulard neighborhood, the 0.0785-acre property occupies a low-traffic residential block near neighborhood restaurants, bars, patios, festivals, Soulard Market, and the Frenchtown Dog Park. A rear gravel parking pad accommodates up to three cars, with additional on-street parking often available. Downtown is minutes away, with access to I-44, I-55, I-64/40, I-70, and Gravois.
Located at 1841 S 10th Street in St. Louis' Soulard neighborhood, the 0.0785-acre property occupies a low-traffic residential block near neighborhood restaurants, bars, patios, festivals, Soulard Market, and the Frenchtown Dog Park. A rear gravel parking pad accommodates up to three cars, with additional on-street parking often available. Downtown is minutes away, with access to I-44, I-55, I-64/40, I-70, and Gravois.
Key Highlights
- 3,540‑square‑foot brick multifamily property built in 1890
- Upper residence of more than 1,750 SF plus two first‑floor apartments
- Rear gravel pad accommodates up to three cars
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
$37,855
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
7.01%
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%
$757,100
$757.1K
Cap Rate 7%
$540,786
$540.8K
Cap Rate 9%
$420,611
$420.6K
Market Conditions
NOI Build-Up for 3,540 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
$57.3K $16.20/SF
− Vacancy
−$3.3K −$0.92/SF
EGI
$54.1K $15.28/SF
− OpEx
−$16.2K −$4.58/SF
NOI
$37.9K $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%
$757,100
Cap Rate 7%
$540,786
Cap Rate 9%
$420,611
Alternative Uses
Best Use
Multifamily LT 5
$540.8K
$473.2K – $630.9K
NOI $37,855 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$470.6K
$411.8K – $549.1K
NOI $32,943 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$759.7K
$664.8K – $886.4K
NOI $53,182 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,099
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
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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?
Multifamily property - Three-unit configuration includes an owner residence and two occupied apartments.
Where is this multifamily property located?
The property is located at 1841 S 10th Street St Louis, MO.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: 3,540‑square‑foot brick multifamily property built in 1890; Upper residence of more than 1,750 SF plus two first‑floor apartments; Rear gravel pad accommodates up to three cars
