All-Brick Six-Family with Gated
For Sale
$752,500
2419 Menard Street St, Louis, MO 63104
Residential Income, St Louis, MO
Property Size7,056 SF
Lot Size0.16 Acres
Price / SF$106.65
Days on Market45
Property Features for 2419 Menard Street St
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Appliances
Gas Water Heater
Subdivision
Allens 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
Standard status
Active
APN
0816-00-0160-0
Size
7,056 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5255
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1880
Number of units
6
Building materials
Brick
Architectural style
Other
Listing Agency:
The Agency
(314) 677-1477
Listed By:
Anthony Klier · License #2022012991
(314) 280-9996
Added: Jul 8
Changed: Aug 19
Last Checked: Aug 21 at 9:06AM
MLS# 26028452
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.
2419-23 Menard Street presents a fully occupied, all-brick historic six-family residence in St. Louis City. The building’s unit mix includes five 1-bedroom units and one oversized 3-bedroom, 2-bath unit. Interiors feature hardwood floors, exposed brick, and soaring ceilings, with updated interiors and in-unit laundry in select units. Recent improvements include a new roof in 2020 and a new concrete patio in 2022. A massive gated rear yard and an unfinished attic provide meaningful flexibility for future outdoor use and potential interior expansion.
Current in-place rents are listed as $1,060 (2419), $980 (2419-A), $1,200 (2421), $910 (2421-A), $1,120 (2423), and $1,774 (2423-A). The seller notes an in-place cap rate of roughly 7.26%, and the property is described as located less than half a mile from Anheuser-Busch, with minutes to Downtown St. Louis. Access to Soulard dining and the Soulard Farmers Market is also described in the listing.
The unfinished attic is presented as a clear value-add path, with a stated concept to convert one existing 1BR/1BA into a 3BR/2BA by expanding into the attic, with projected rent of approximately $2,250 per month upon completion. The seller also strongly prefers selling alongside the adjacent lot at 2417 Menard Street, which is available to package together. Call the listing agent to schedule a showing; preapproval or proof of funds is required. Ask for additional photos, rent roll, expenses, and system ages.
Current in-place rents are listed as $1,060 (2419), $980 (2419-A), $1,200 (2421), $910 (2421-A), $1,120 (2423), and $1,774 (2423-A). The seller notes an in-place cap rate of roughly 7.26%, and the property is described as located less than half a mile from Anheuser-Busch, with minutes to Downtown St. Louis. Access to Soulard dining and the Soulard Farmers Market is also described in the listing.
The unfinished attic is presented as a clear value-add path, with a stated concept to convert one existing 1BR/1BA into a 3BR/2BA by expanding into the attic, with projected rent of approximately $2,250 per month upon completion. The seller also strongly prefers selling alongside the adjacent lot at 2417 Menard Street, which is available to package together. Call the listing agent to schedule a showing; preapproval or proof of funds is required. Ask for additional photos, rent roll, expenses, and system ages.
Key Highlights
- All‑brick historic six‑family built in 1880 with central air and natural gas forced‑air heating
- Fully occupied building with in‑place rents totaling $7,044/month ($84,528 annually) across five 1BR units and one oversized 3BR/2BA unit
- Unit rent schedule includes $1,060 (2419), $980 (2419‑A), $1,200 (2421), $910 (2421‑A), $1,120 (2423), and $1,774 (2423‑A)
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
$65,663
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
8.73%
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%
$1,313,260
$1.3M
Cap Rate 7%
$938,043
$938.0K
Cap Rate 9%
$729,589
$729.6K
Market Conditions
NOI Build-Up for 7,056 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
$127.0K $18.00/SF
− Vacancy
−$7.6K −$1.08/SF
EGI
$119.4K $16.92/SF
− OpEx
−$53.7K −$7.61/SF
NOI
$65.7K $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%
$1,313,260
Cap Rate 7%
$938,043
Cap Rate 9%
$729,589
Alternative Uses
Best Use
Apartment 5plus
$938.0K
$820.8K – $1.09M
NOI $65,663 @ 7.0% cap · market cap 8.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.51M
$1.33M – $1.77M
NOI $106,004 @ 7.0% cap · market cap 14.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
100%
Occupancy
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
966
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?
Apartment building - Fully occupied all-brick six-family with five 1-bed units and one 3-bed unit plus a gated rear yard.
Where is this apartment building located?
The property is located at 2419 Menard Street St Louis, MO.
What is the asking price?
The asking price for this property is $752,500.
What are key features of this property?
This property features: All‑brick historic six‑family built in 1880 with central air and natural gas forced‑air heating; Fully occupied building with in‑place rents totaling $7,044/month ($84,528 annually) across five 1BR units and one oversized 3BR/2BA unit; Unit rent schedule includes $1,060 (2419), $980 (2419‑A), $1,200 (2421), $910 (2421‑A), $1,120 (2423), and $1,774 (2423‑A)
