Duplex with In-Unit
For Sale
$349,000
Pending
2347 Klemm St, Saint Louis, MO 63110
Two-level rental property with one occupied residence and a separate first-floor unit available for renovation or occupancy.
Property Size3,186 SF
Days on Market11
Property Features for 2347 Klemm St
General Information
Standard status
Pending
Size
3,186 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,418
Building Details
Buildings
1
Listing Agency:
RE/MAX EDGE
(636) 300-3030
Listed By:
Logan Owens · License #2017042778
(636) 795-8788
Source:
Exprealty
Added: Sep 4
Changed: Sep 13
Last Checked: Sep 13 at 11:51AM
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 RE/MAX EDGE
Investment Insights
Based on property information with market context.
This 3,186-square-foot duplex includes two residential units with distinct layouts. The upper residence has two large bedrooms, a smaller third bedroom, one full bathroom, and in-unit laundry. It is occupied by a long-term tenant under a lease ending April 30, 2027. The first-floor residence is vacant and offers two large bedrooms, a pass-through bonus room, one and one-half bathrooms, original flooring, and basement access with laundry hookups.
The property is located at 2347 Klemm St in Saint Louis's Shaw neighborhood, directly across from Tower Grove Park. The separate occupancy status of the two units supports either continued rental operation or owner occupancy of the vacant residence while retaining the upstairs tenancy.
The property is located at 2347 Klemm St in Saint Louis's Shaw neighborhood, directly across from Tower Grove Park. The separate occupancy status of the two units supports either continued rental operation or owner occupancy of the vacant residence while retaining the upstairs tenancy.
Key Highlights
- 3,186 SF duplex with two residential units
- Upper unit leased through April 30, 2027
- Second‑floor layout includes 2 large bedrooms, 1 smaller bedroom, and 1 full bath
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
$29,649
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
8.50%
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%
$592,980
$593.0K
Cap Rate 7%
$423,557
$423.6K
Cap Rate 9%
$329,433
$329.4K
Market Conditions
NOI Build-Up for 3,186 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 $18.00/SF
− Vacancy
−$3.4K −$1.08/SF
EGI
$53.9K $16.92/SF
− OpEx
−$24.3K −$7.61/SF
NOI
$29.6K $9.31/SF
Area
St. Louis County, MO
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$592,980
Cap Rate 7%
$423,557
Cap Rate 9%
$329,433
Alternative Uses
Best Use
Multifamily LT 5
$486.7K
$425.9K – $567.8K
NOI $34,070 @ 7.0% cap · market cap 9.76%
Second Best
Apartment 5plus
$423.6K
$370.6K – $494.2K
NOI $29,649 @ 7.0% cap · market cap 8.50%
Theoretical Best
Office A
$683.8K
$598.3K – $797.7K
NOI $47,864 @ 7.0% cap · market cap 13.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
511
Businesses Nearby
Explore this area
Business Placement
Demographics for 63110, MO
18,199
Population
10,260
Households
1.8
Avg Household Size
33
Median Age
64%
College-Educated
97%
High-School Grad
6.6 sq mi
ZIP Area
2,757
Density / Sq Mi
$73,809
Median Household Income
$55,340
Median Earnings
$1,183
Median Rent
$314,600
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?
Duplex - Two-level rental property with one occupied residence and a separate first-floor unit available for renovation or occupancy.
Where is this duplex located?
The property is located at 2347 Klemm St Saint Louis, MO.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 3,186 SF duplex with two residential units; Upper unit leased through April 30, 2027; Second‑floor layout includes 2 large bedrooms, 1 smaller bedroom, and 1 full bath
