Tenant-Occupied Duplex with
For Sale
$269,900
2108 Allen Ave, Saint Louis, MO 63104
Both units are leased, with distinct flooring finishes and rear parking included.
Property Size2,100 SF
Price / SF$128.52
Days on Market61
Property Features for 2108 Allen Ave
General Information
Standard status
Active
Size
2,100 SF
Total Parking Spaces
1
Property subtype
Residential Income
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,946
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
New Growth Realty LLC
(314) 448-0794
Listed By:
Delicia Lacy
(314) 448-0794
Source:
Exprealty
Added: Jun 12
Changed: Aug 8
Last Checked: Aug 10 at 7:54AM
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 New Growth Realty LLC
Investment Insights
Based on property information with market context.
This 2,100-square-foot duplex is occupied by tenants, with both units currently leased. The lower unit has luxury vinyl plank flooring, while the upper unit retains original hardwood floors. The property includes a one-car rear parking pad and additional street parking.
Located in South St. Louis near restaurants, shopping, parks, and major highways, the property is being sold as-is. Due to tenant occupancy, showings are limited to requests made after an accepted contract, and tenants should not be disturbed.
Located in South St. Louis near restaurants, shopping, parks, and major highways, the property is being sold as-is. Due to tenant occupancy, showings are limited to requests made after an accepted contract, and tenants should not be disturbed.
Key Highlights
- 2,100‑square‑foot duplex with both units currently leased
- Lower unit features luxury vinyl plank flooring
- Upper unit includes original hardwood flooring
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
$22,457
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
8.32%
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%
$449,140
$449.1K
Cap Rate 7%
$320,814
$320.8K
Cap Rate 9%
$249,522
$249.5K
Market Conditions
NOI Build-Up for 2,100 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
$34.0K $16.20/SF
− Vacancy
−$1.9K −$0.92/SF
EGI
$32.1K $15.28/SF
− OpEx
−$9.6K −$4.58/SF
NOI
$22.5K $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%
$449,140
Cap Rate 7%
$320,814
Cap Rate 9%
$249,522
Alternative Uses
Best Use
Multifamily LT 5
$320.8K
$280.7K – $374.3K
NOI $22,457 @ 7.0% cap · market cap 8.32%
Second Best
Apartment 5plus
$279.2K
$244.3K – $325.7K
NOI $19,543 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$450.7K
$394.4K – $525.8K
NOI $31,549 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,069
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
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?
Duplex - Both units are leased, with distinct flooring finishes and rear parking included.
Where is this duplex located?
The property is located at 2108 Allen Ave Saint Louis, MO.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: 2,100‑square‑foot duplex with both units currently leased; Lower unit features luxury vinyl plank flooring; Upper unit includes original hardwood flooring
