Renovated Two-Unit
For Sale
$599,900
2646 Melvin Avenue, Saint Louis, MO 63144
The 2022 renovation updated major systems, kitchens, and bathrooms throughout the property.
Property Size2,464 SF
Price / SF$243.47
Days on Market79
Property Features for 2646 Melvin Avenue
General Information
Standard status
Active
Size
2,464 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR
Multifamily Units
2
Additional Details
Highway Access
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$6,976
Amenities
in-unit laundry
Dining/Living Room Combo
Entrance Foyer
Open Floorplan
Shower
Solid Surface Countertop(s)
Tub
Walk-In Closet(s)
Entry Steps/Stairs
Building Details
Building Size
2,464 SF
Year Built
1909
Year Renovated
2022
Buildings
1
Stories
2
Units
2
Construction
brick
Listing Agency:
Keller Williams Realty St. Louis
(314) 677-6000
Listed By:
David Nations · License #2007027969
(314) 775-2777
Source:
Flowershomerealty
Added: Aug 13
Changed: Oct 29
Last Checked: Oct 29 at 11:16PM
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 Keller Williams Realty St. Louis
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Investment Insights
Based on property information with market context.
This two-unit duplex was built in 1909 and renovated in 2022. Its unit mix includes a three-bedroom, two-bathroom residence and a two-bedroom residence. One unit is available, while the other is leased. Improvements include a newer roof, replacement windows, updated plumbing, electrical and HVAC systems, renovated kitchens and bathrooms, and in-unit laundry.
The property is in Brentwood Schools and within walking distance of Deer Creek Greenway and Brentwood Park. I-64/40 and I-170 provide regional access, with downtown Clayton and shopping and dining at the Galleria, Brentwood Square, and Brentwood Promenade among the destinations cited nearby.
The property is in Brentwood Schools and within walking distance of Deer Creek Greenway and Brentwood Park. I-64/40 and I-170 provide regional access, with downtown Clayton and shopping and dining at the Galleria, Brentwood Square, and Brentwood Promenade among the destinations cited nearby.
Key Highlights
- Two‑unit duplex with a three‑bedroom, two‑bath unit and a two‑bedroom unit
- Renovated in 2022; built in 1909
- Updated roof, windows, plumbing, electrical, and HVAC
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,349
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$526,980
$527.0K
Cap Rate 7%
$376,414
$376.4K
Cap Rate 9%
$292,767
$292.8K
Market Conditions
NOI Build-Up for 2,464 SF
Gross rent
$39.9K $16.20/SF
− Vacancy
−$2.3K −$0.92/SF
EGI
$37.6K $15.28/SF
− OpEx
−$11.3K −$4.58/SF
NOI
$26.3K $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 Rate 5%
$526,980
Cap Rate 7%
$376,414
Cap Rate 9%
$292,767
Alternative Uses
Best Use
Multifamily LT 5
$376.4K
$329.4K – $439.2K
NOI $26,349 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$327.6K
$286.6K – $382.2K
NOI $22,930 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$528.8K
$462.7K – $617.0K
NOI $37,017 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
884
Businesses Nearby
Explore this area
Business Placement
Demographics for 63144, MO
9,596
Population
5,159
Households
1.9
Avg Household Size
36
Median Age
75%
College-Educated
99%
High-School Grad
2.3 sq mi
ZIP Area
4,172
Density / Sq Mi
$91,312
Median Household Income
$72,981
Median Earnings
$1,429
Median Rent
$278,800
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
Frequently Asked Questions
What type of property is this?
Duplex - The 2022 renovation updated major systems, kitchens, and bathrooms throughout the property.
Where is this duplex located?
The property is located at 2646 Melvin Avenue Saint Louis, MO.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two‑unit duplex with a three‑bedroom, two‑bath unit and a two‑bedroom unit; Renovated in 2022; built in 1909; Updated roof, windows, plumbing, electrical, and HVAC
