Side-by-Side Duplex with
For Sale
$435,000
2204-2206 Indiana Avenue St, Louis, MO 63104
MULTI_FAMILY - Other - St Louis, MO
Property Size3,024 SF
Lot Size0.09 Acres
Price / SF$143.85
Days on Market26
Property Features for 2204-2206 Indiana Avenue St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 1, Basement, Bathroom 4, Bathroom 3, Bathroom 2, Bedroom 2
Fireplace
1
Basement
Full
Appliances
Stainless Steel Appliance(s), Dishwasher, Microwave, Gas Oven, Refrigerator
Subdivision
Allens Lafayette Park Add
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
Jefferson turn East on Ann and make a right onto Indiana
Standard status
Active
APN
1384-00-0200-0
Size
3,024 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2612
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1902
Flooring type
Vinyl, Hardwood
Building materials
Stone
Roof type
Flat
Architectural style
Other
Listing Agency:
Worth Clark Realty
(314) 222-0065
Listed By:
Lance Appleby
(800) 991-6092
Added: Jul 17
Changed: Aug 1
Last Checked: Aug 11 at 11:06AM
MLS# 26045738
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.
2204-2206 Indiana Avenue is a side-by-side duplex featuring two units with private basements in each unit. Both layouts include two larger bedrooms and two full bathrooms, supporting a straightforward live-in or income approach.
The property was built in 1902 and features stone construction with vinyl and hardwood flooring. Each unit is served by forced-air heating and central air conditioning, and the home includes a fireplace. The roof is described as flat.
Unit 2206 is vacant and updated, with a fresh kitchen and two fully updated bathrooms. It also includes a new ’26 TPO roof and a newer deck. Unit 2204 is tenant-occupied, providing rental income in place.
The lot size is 0.0868 acres, and the property size is 3,024 square feet.
The property was built in 1902 and features stone construction with vinyl and hardwood flooring. Each unit is served by forced-air heating and central air conditioning, and the home includes a fireplace. The roof is described as flat.
Unit 2206 is vacant and updated, with a fresh kitchen and two fully updated bathrooms. It also includes a new ’26 TPO roof and a newer deck. Unit 2204 is tenant-occupied, providing rental income in place.
The lot size is 0.0868 acres, and the property size is 3,024 square feet.
Key Highlights
- Side‑by‑side duplex with private basement space in each unit
- Unit 2206 is vacant and updated with a fresh kitchen and two fully updated bathrooms
- New ’26 TPO roof and newer deck on unit 2206
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
$32,338
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
7.43%
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%
$646,760
$646.8K
Cap Rate 7%
$461,971
$462.0K
Cap Rate 9%
$359,311
$359.3K
Market Conditions
NOI Build-Up for 3,024 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
$49.0K $16.20/SF
− Vacancy
−$2.8K −$0.92/SF
EGI
$46.2K $15.28/SF
− OpEx
−$13.9K −$4.58/SF
NOI
$32.3K $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%
$646,760
Cap Rate 7%
$461,971
Cap Rate 9%
$359,311
Alternative Uses
Best Use
Multifamily LT 5
$462.0K
$404.2K – $539.0K
NOI $32,338 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$402.0K
$351.8K – $469.0K
NOI $28,141 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$649.0K
$567.9K – $757.2K
NOI $45,430 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,022
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
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Frequently Asked Questions
What type of property is this?
Duplex - Each unit includes a private basement, with central air, forced-air heat, and updated interior features in one unit.
Where is this duplex located?
The property is located at 2204-2206 Indiana Avenue St Louis, MO.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Side‑by‑side duplex with private basement space in each unit; Unit 2206 is vacant and updated with a fresh kitchen and two fully updated bathrooms; New ’26 TPO roof and newer deck on unit 2206
