Renovated Duplex Near
For Sale
$279,900
3424 Mckean Ave, Saint Louis, MO 63118
The property includes a month-to-month first-floor tenancy near shops, restaurants, parks, and public bus lines.
Property Size2,398 SF
Price / SF$116.72
Days on Market34
Property Features for 3424 Mckean Ave
General Information
Standard status
Active
Size
2,398 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
it could use some cosmetic repairs
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,002
Building Details
Buildings
1
Listing Agency:
Berkshire Hathaway HomeServices Select Properties
(314) 503-7653
Listed By:
Abdel Yezza
(314) 503-7653
Source:
Exprealty
Added: Jul 21
Changed: Aug 22
Last Checked: Aug 23 at 4:17AM
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 Berkshire Hathaway HomeServices Select Properties
Investment Insights
Based on property information with market context.
This two-family duplex contains 2,398 square feet and was renovated a few years ago. The first-floor residence is occupied under a month-to-month arrangement, while the property remains in generally good condition with some cosmetic repairs identified in the property information.
Located at 3424 McKean Ave in Saint Louis, the duplex is within walking distance of a library, stores, shops, and restaurants. Bus lines and parks are also nearby, adding convenient access to everyday services and recreation.
The combination of a two-family layout, existing first-floor tenancy, recent renovation history, and access to surrounding amenities gives the property a clear residential income profile.
Located at 3424 McKean Ave in Saint Louis, the duplex is within walking distance of a library, stores, shops, and restaurants. Bus lines and parks are also nearby, adding convenient access to everyday services and recreation.
The combination of a two-family layout, existing first-floor tenancy, recent renovation history, and access to surrounding amenities gives the property a clear residential income profile.
Key Highlights
- Two‑family duplex with 2,398 square feet
- First‑floor residence occupied on a month‑to‑month tenancy
- Renovated a few years ago
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
$25,643
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
9.16%
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%
$512,860
$512.9K
Cap Rate 7%
$366,329
$366.3K
Cap Rate 9%
$284,922
$284.9K
Market Conditions
NOI Build-Up for 2,398 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
$38.8K $16.20/SF
− Vacancy
−$2.2K −$0.92/SF
EGI
$36.6K $15.28/SF
− OpEx
−$11.0K −$4.58/SF
NOI
$25.6K $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%
$512,860
Cap Rate 7%
$366,329
Cap Rate 9%
$284,922
Alternative Uses
Best Use
Multifamily LT 5
$366.3K
$320.5K – $427.4K
NOI $25,643 @ 7.0% cap · market cap 9.16%
Second Best
Apartment 5plus
$318.8K
$279.0K – $371.9K
NOI $22,316 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$514.7K
$450.3K – $600.4K
NOI $36,026 @ 7.0% cap · market cap 12.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,197
Businesses Nearby
Explore this area
Business Placement
Demographics for 63118, MO
25,194
Population
14,770
Households
1.7
Avg Household Size
34
Median Age
38%
College-Educated
87%
High-School Grad
3.4 sq mi
ZIP Area
7,410
Density / Sq Mi
$57,268
Median Household Income
$44,717
Median Earnings
$952
Median Rent
$210,900
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 - The property includes a month-to-month first-floor tenancy near shops, restaurants, parks, and public bus lines.
Where is this duplex located?
The property is located at 3424 Mckean Ave Saint Louis, MO.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Two‑family duplex with 2,398 square feet; First‑floor residence occupied on a month‑to‑month tenancy; Renovated a few years ago
