Historic Two-Unit Brick
For Sale
$330,000
2646 Geyer Ave, Saint Louis, MO 63104
Updated residences feature high ceilings, exposed brick, flexible layouts, and an unfinished basement with substantial height.
Property Size2,112 SF
Price / SF$156.25
Days on Market73
Property Features for 2646 Geyer Ave
General Information
Standard status
Active
Size
2,112 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$32,400
Taxes and HOA fees
Annual Taxes
$4,457
Building Details
Year Built
1896
Year Renovated
2017
Buildings
1
Construction
brick
Listing Agency:
Equity Missouri LLC
(314) 299-5441
Listed By:
Mary Chandler · License #2014042565
(314) 299-5441
Source:
Exprealty
Added: Jun 20
Changed: Aug 30
Last Checked: Aug 30 at 6:30PM
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 Equity Missouri LLC
Investment Insights
Based on property information with market context.
Built in 1896, this brick duplex contains two residences of about 1,100 square feet each within the Fox Park National Historic District. Both units underwent comprehensive stud-level renovations in 2017, including plumbing, electrical, HVAC, kitchens, bathrooms, and flooring. The interiors retain original fixtures alongside exposed brick, tall ceilings, large windows, and durable vinyl flooring. The lower unit offers two bedrooms, one bathroom, and an open living area. Upstairs, three adaptable rooms are arranged as a bedroom, living room, and office, with a single bathroom and a 2025 kitchen renovation featuring stainless appliances, white cabinetry, and quartz countertops.
A dry, unfinished basement has notably high ceilings and may offer the possibility of future livable space. Recent ownership improvements include an upper-kitchen update, replacement front and rear fencing, and a new roof. The property is near Fox Park restaurants and coffee shops, approximately five minutes from Tower Grove Park, seven minutes from Busch Stadium, and eight minutes from Forest Park.
A dry, unfinished basement has notably high ceilings and may offer the possibility of future livable space. Recent ownership improvements include an upper-kitchen update, replacement front and rear fencing, and a new roof. The property is near Fox Park restaurants and coffee shops, approximately five minutes from Tower Grove Park, seven minutes from Busch Stadium, and eight minutes from Forest Park.
Key Highlights
- Two‑unit 1896 brick duplex in Fox Park National Historic District
- Each residence measures about 1,100 sq ft; total property size is 2112
- Both units received gut rehabs to the studs in 2017
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
$22,585
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
6.84%
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%
$451,700
$451.7K
Cap Rate 7%
$322,643
$322.6K
Cap Rate 9%
$250,944
$250.9K
Market Conditions
NOI Build-Up for 2,112 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
$34.2K $16.20/SF
− Vacancy
−$2.0K −$0.92/SF
EGI
$32.3K $15.28/SF
− OpEx
−$9.7K −$4.58/SF
NOI
$22.6K $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%
$451,700
Cap Rate 7%
$322,643
Cap Rate 9%
$250,944
Alternative Uses
Best Use
Multifamily LT 5
$322.6K
$282.3K – $376.4K
NOI $22,585 @ 7.0% cap · market cap 6.84%
Second Best
Apartment 5plus
$280.8K
$245.7K – $327.6K
NOI $19,654 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$453.3K
$396.6K – $528.8K
NOI $31,729 @ 7.0% cap · market cap 9.61%
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
787
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 - Updated residences feature high ceilings, exposed brick, flexible layouts, and an unfinished basement with substantial height.
Where is this duplex located?
The property is located at 2646 Geyer Ave Saint Louis, MO.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Two‑unit 1896 brick duplex in Fox Park National Historic District; Each residence measures about 1,100 sq ft; total property size is 2112; Both units received gut rehabs to the studs in 2017
