Renovated Brick
For Sale
$279,900
3424 McKean Avenue, Saint Louis, MO 63118
Residential Income, St Louis, MO
Property Size2,398 SF
Lot Size0.09 Acres
Price / SF$116.72
Days on Market72
Property Features for 3424 McKean Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 1, Bedroom 1, Basement
Parking features
Off Street, Alley, Offsite, Oversize, Garage, On Street
Window features
Blinds, Insulated Windows, Screens, Storm Window(s), Window Treatments, Double Pane Windows, Window Coverings
Patio and Porch features
Porch, Deck
Interior features
Ceiling Fan(s), Country Kitchen, Eat-in Kitchen, Entrance Foyer, High Ceilings, High Speed Internet, Historic Millwork, Natural Woodwork, Shower, Storage
Exterior features
Private Entrance, Private Yard, Storage
Fencing
Fenced
Basement
Storage Space, Full, Walk-Out Access, Exterior Entry, Walk-Up Access, Interior Entry
Appliances
Free-Standing Electric Range, Free-Standing Gas Range, Refrigerator, Free-Standing Refrigerator, Washer/Dryer, Water Heater, Electric Water Heater
Subdivision
Tower Grove Heights
Lot features
Back Yard, City Lot, Front Yard, Infill Lot, Level, Near Park, Near Public Transit, Rectangular Lot, Some Trees
Elementary school
Froebel Elem.
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
Directions
Grand Blvd to east on Mckean Avenue to property on the right. Or, Gravois Road to West on Mckean to property on the left
Standard status
Active
APN
1492-00-0060-0
Size
2,398 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2002
Utilities
Utilities
Cable Available
Heating system
Electric (Heating), Forced Air, Zoned, Natural Gas
Cooling system
Central Air, Zoned, Exhaust Fan (Cooling), Ceiling Fan(s), Electric
Water source
Public
Building Details
Year built
1906
Floors in Building
2
Number of units
2
Flooring type
Softwood, Simulated wood, Tile - Ceramic, Combination, Laminate
Building materials
Brick, Stone
Roof type
Membrane, Flat, Rubber
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Berkshire Hathaway HomeServices Select Properties
(314) 775-2050
Listed By:
Abdel Yezza
(314) 503-7653
Added: Jul 24
Changed: Sep 28
Last Checked: Oct 3 at 5:06AM
MLS# 26046433
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 2,398-square-foot brick duplex was built in 1906 and renovated a few years ago. The property includes two bathrooms, basement space, storage, natural woodwork, historic millwork, high ceilings, and a mix of softwood, laminate, ceramic tile, and simulated wood flooring. Kitchens include ranges, refrigerators, and additional household appliances. Zoned electric and forced-air heating, central air, and ceiling fans serve the interiors. The first-floor unit is occupied on a month-to-month basis.
The 0.0875-acre property is located at 3424 McKean Avenue in St. Louis. The surrounding area provides access to a library, stores, shops, restaurants, parks, and bus lines. Parking options include a garage, alley access, off-street parking, on-street parking, and offsite parking. A fenced private yard, porch, and deck add outdoor functionality.
The 0.0875-acre property is located at 3424 McKean Avenue in St. Louis. The surrounding area provides access to a library, stores, shops, restaurants, parks, and bus lines. Parking options include a garage, alley access, off-street parking, on-street parking, and offsite parking. A fenced private yard, porch, and deck add outdoor functionality.
Key Highlights
- 2,398‑square‑foot duplex on a 0.0875‑acre lot
- Brick construction with renovation completed a few years ago
- Built in 1906 with historic millwork, natural woodwork, and high ceilings
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - A private entrance, fenced yard, porch, deck, and storage support everyday use.
Where is this duplex located?
The property is located at 3424 McKean Avenue 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: 2,398‑square‑foot duplex on a 0.0875‑acre lot; Brick construction with renovation completed a few years ago; Built in 1906 with historic millwork, natural woodwork, and high ceilings
