Renovated Brick
New
For Sale
$650,000
2646 Melvin Avenue St, Louis, MO 63144
Residential Income, St Louis, MO
Property Size2,464 SF
Lot Size0.27 Acres
Price / SF$263.80
Days on Market7
Property Features for 2646 Melvin Avenue St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 5, Bathroom 4, Dining Room, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 3
Parking features
Parking Lot
Interior features
Dining/Living Room Combo, Entrance Foyer, Open Floorplan, Shower, Solid Surface Countertop(s), Tub, Walk-In Closet(s)
Exterior features
Entry Steps/Stairs
Basement
Unfinished, Full
Appliances
Dishwasher, Disposal, Dryer, Microwave, Gas Oven, Refrigerator, Washer
Subdivision
Brazeaux
Lot features
Back Yard, Few Trees
Elementary school
Mark Twain Elem.
Middle school
Brentwood Middle
High school
Brentwood High
Elementary school district
Brentwood
Middle school district
Brentwood
High school district
Brentwood
Standard status
Active
APN
21K-34-0921
Size
2,464 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6976
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
Building Details
Year built
1909
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Building materials
Brick
Architectural style
Other
Listing Agency:
Keller Williams Realty St. Louis
(314) 677-6000
Listed By:
David Nations · License #2007027969
(314) 677-6000
Added: Aug 14
Changed: Aug 19
Last Checked: Aug 20 at 10:06AM
MLS# 26050664
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 2,464-square-foot duplex at 2646 Melvin Avenue includes two residences within a brick building constructed in 1909. The property was extensively renovated in 2022, with improvements to the roof, windows, plumbing, electrical, HVAC, kitchens, and bathrooms. Each unit includes in-unit laundry, while interior features include open living and dining areas, solid-surface countertops, walk-in closets, and a combination of tubs and showers. Appliances include gas ovens, refrigerators, dishwashers, disposals, microwaves, washers, and dryers. Forced-air heating, central air, public water, vinyl flooring, and a parking lot are also provided.
One residence has two bedrooms and is currently leased; the other is a three-bedroom, two-bath unit available for occupancy. The property occupies 0.27 acres in St. Louis, Missouri, within the Brentwood school area. Deer Creek Greenway and the new Brentwood Park are within walking distance, while I-64/40, I-170, downtown Clayton, the Galleria, Brentwood Square, and Brentwood Promenade are accessible from the property.
One residence has two bedrooms and is currently leased; the other is a three-bedroom, two-bath unit available for occupancy. The property occupies 0.27 acres in St. Louis, Missouri, within the Brentwood school area. Deer Creek Greenway and the new Brentwood Park are within walking distance, while I-64/40, I-170, downtown Clayton, the Galleria, Brentwood Square, and Brentwood Promenade are accessible from the property.
Key Highlights
- 2,464‑square‑foot duplex on a 0.27‑acre parcel
- Extensive 2022 renovation included roof, windows, plumbing, electrical, HVAC, kitchens, and bathrooms
- Brick construction dating to 1909
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
$26,349
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
4.05%
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%
$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
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
$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 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%
$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 4.05%
Second Best
Apartment 5plus
$327.6K
$286.6K – $382.2K
NOI $22,930 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$528.8K
$462.7K – $617.0K
NOI $37,017 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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 - Two-unit brick property with updated systems, in-unit laundry, and one residence available for occupancy.
Where is this duplex located?
The property is located at 2646 Melvin Avenue St Louis, MO.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,464‑square‑foot duplex on a 0.27‑acre parcel; Extensive 2022 renovation included roof, windows, plumbing, electrical, HVAC, kitchens, and bathrooms; Brick construction dating to 1909
