Two-Unit Duplex with Private
For Sale
$279,900
3424 McKean Avenue St, Louis, MO 63118
Residential Income, St Louis, MO
Property Size2,398 SF
Lot Size0.09 Acres
Price / SF$116.72
Days on Market29
Property Features for 3424 McKean Avenue St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2
Parking features
Garage, Alley, On Street, Offsite, Off Street, Oversize
Window features
Window Treatments, Screens, Storm Window(s), Blinds, Insulated Windows, Window Coverings, Double Pane Windows
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
Walk-Out Access, Walk-Up Access, Interior Entry, Full, Storage Space, Exterior 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, Natural Gas, Zoned
Cooling system
Exhaust Fan (Cooling), Central Air, Ceiling Fan(s), Electric, Zoned
Water source
Public
Building Details
Year built
1906
Floors in Building
2
Number of units
2
Flooring type
Simulated wood, Combination, Laminate, Tile - Ceramic, Softwood
Building materials
Brick, Stone
Roof type
Rubber, Flat, Membrane
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Berkshire Hathaway HomeServices Select Properties
(314) 775-2050
Listed By:
Abdel Yezza
(314) 835-6000
Added: Jul 24
Changed: Aug 20
Last Checked: Aug 21 at 3:06AM
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.
3424 McKean Avenue is a two-unit duplex on a 0.0875-acre lot with brick and stone construction and a flat rubber membrane roof. Built in 1906, the property has been renovated in recent years and is in good condition, with some additional cosmetic repairs that could further polish the interior and exterior presentation. The layout includes shared overall building features such as high ceilings and historic millwork, and each unit has its own private entrance, with private outdoor space supported by a private yard and fenced areas. Interior features include eat-in kitchen space, natural woodwork, storage, ceiling fans, and high-speed internet. The home is heated with zoned forced air natural gas and electric heating, and cooled with zoned central air and electric cooling.
One floor is rented month to month, providing an immediate rental use scenario. Parking includes a garage, off-street options, on-street parking, and alley access. The property is connected to public water and has cable available.
Additional exterior amenities include a porch and deck, along with storage space.
One floor is rented month to month, providing an immediate rental use scenario. Parking includes a garage, off-street options, on-street parking, and alley access. The property is connected to public water and has cable available.
Additional exterior amenities include a porch and deck, along with storage space.
Key Highlights
- Two‑unit duplex on 0.0875‑acre lot at 3424 McKean Avenue
- One floor currently rented month to month
- Private entrance and private yard with fenced area
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
Current Use
Lease Details
Multi-tenant
Tenancy
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 - Renovated two-unit duplex with private entrances, a fenced yard, garage and off-street/onsite parking, and month-to-month rental on one floor.
Where is this duplex located?
The property is located at 3424 McKean Avenue St 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‑unit duplex on 0.0875‑acre lot at 3424 McKean Avenue; One floor currently rented month to month; Private entrance and private yard with fenced area
