Brick Duplex Near Tower Grove
For Sale
$349,000
2347 Klemm Street, Saint Louis, MO 63110
Residential Income, St Louis, MO
Property Size3,186 SF
Lot Size0.12 Acres
Price / SF$109.54
Days on Market24
Property Features for 2347 Klemm Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 5, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 3, Basement, Bedroom 4, Bathroom 2
Parking features
Alley, Off Street
Basement
Storage Space, Unfinished, Walk-Out Access
Subdivision
Garveys Add
Elementary school
Mann Elem.
Middle school
Fanning Middle Community Ed.
High school
Roosevelt High
Elementary school district
St. Louis City
Middle school district
St. Louis City
High school district
St. Louis City
Standard status
Active
APN
4930-00-0240-0
Size
3,186 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
C.B. 4930 KLEMM 35 FT X 150 FT GARVEYS ADDN LOT N-15
Tax Annual Amount
4418
Legal Description
C.B. 4930 KLEMM 35 FT X 150 FT GARVEYS ADDN LOT N-15
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
Building Details
Year built
1911
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
RE/MAX EDGE · RE/MAX International
(636) 300-3030
Listed By:
Logan Owens · License #2017042778
(636) 795-8788
Added: Sep 10
Changed: Sep 28
Last Checked: Oct 3 at 6:06AM
MLS# 26057257
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.
This brick duplex at 2347 Klemm Street contains 3,186 square feet on a 0.1205-acre lot and dates to 1911. The second-floor residence includes two large bedrooms, one smaller bedroom, one full bath, and in-unit laundry; it is leased through April 30, 2027. The first-floor unit is vacant and offers two large bedrooms, a pass-through or bonus room, 1.5 baths, original flooring, and basement laundry hookups.
The property is across from Tower Grove Park in the Shaw neighborhood of St. Louis. Improvements include forced-air heating, central air, public water, cable availability, off-street parking, and alley access. The basement provides additional utility and laundry-related space.
The property is across from Tower Grove Park in the Shaw neighborhood of St. Louis. Improvements include forced-air heating, central air, public water, cable availability, off-street parking, and alley access. The basement provides additional utility and laundry-related space.
Key Highlights
- 3,186‑square‑foot duplex on a 0.1205‑acre lot
- Second‑floor lease runs through April 30, 2027
- First‑floor unit is vacant with two large bedrooms, a pass‑through room, and 1.5 baths
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
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?
Duplex - One unit is leased through April 30, 2027, while the other is vacant for owner updates or new tenancy.
Where is this duplex located?
The property is located at 2347 Klemm Street 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‑square‑foot duplex on a 0.1205‑acre lot; Second‑floor lease runs through April 30, 2027; First‑floor unit is vacant with two large bedrooms, a pass‑through room, and 1.5 baths
