Updated Brick
For Sale
$310,000
3425 Illinois Ave, Saint Louis, MO 63118
Three-story duplex with separate living areas, shared laundry, fenced outdoor space, and one tenant-occupied unit.
Property Size2,292 SF
Price / SF$135.25
Days on Market18
Property Features for 3425 Illinois Ave
General Information
Standard status
Active
Size
2,292 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,985
Amenities
shared laundry
flat fenced backyard
brick paver patio
Building Details
Buildings
1
Stories
3
Construction
brick
Tenancy
Single
Listing Agency:
Worth Clark Realty
(314) 222-0065
Listed By:
Abbey Willen
(314) 704-4545
Source:
Exprealty
Added: Aug 28
Changed: Sep 12
Last Checked: Sep 13 at 4:43PM
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 Worth Clark Realty
Investment Insights
Based on property information with market context.
This three-story brick duplex offers a one-bedroom, one-bath residence on the first floor and a larger upper residence arranged across the second and third levels. The upper unit includes two bedrooms on separate floors and two flexible living areas, while the first-floor unit is currently tenant occupied. Recent improvements include cosmetic work along with updates to the roof, HVAC, electrical, plumbing, and windows. Original details remain, including exposed brick, panel doors, transom windows, and substantial moldings.
A shared basement provides laundry facilities and a sump pump. Outdoor features include a level fenced backyard and brick-paver patio, with street parking available. The property is near Cherokee Street's Antique Row, three parks within four blocks, public transportation, and I-44 and I-55. Nearby establishments named in the source include Mudhouse, Saturn Lounge, Lemp Mansion, and Bluewood Brewery.
A shared basement provides laundry facilities and a sump pump. Outdoor features include a level fenced backyard and brick-paver patio, with street parking available. The property is near Cherokee Street's Antique Row, three parks within four blocks, public transportation, and I-44 and I-55. Nearby establishments named in the source include Mudhouse, Saturn Lounge, Lemp Mansion, and Bluewood Brewery.
Key Highlights
- Three‑story brick duplex with one 1‑bedroom, 1‑bath unit and one upper 2‑bedroom unit
- First‑floor residence is currently tenant occupied; upper unit is available
- Updates include roof, HVAC, electric, plumbing, windows, and cosmetic improvements
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
$24,510
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
7.91%
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%
$490,200
$490.2K
Cap Rate 7%
$350,143
$350.1K
Cap Rate 9%
$272,333
$272.3K
Market Conditions
NOI Build-Up for 2,292 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
$37.1K $16.20/SF
− Vacancy
−$2.1K −$0.92/SF
EGI
$35.0K $15.28/SF
− OpEx
−$10.5K −$4.58/SF
NOI
$24.5K $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%
$490,200
Cap Rate 7%
$350,143
Cap Rate 9%
$272,333
Alternative Uses
Best Use
Multifamily LT 5
$350.1K
$306.4K – $408.5K
NOI $24,510 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$304.7K
$266.6K – $355.5K
NOI $21,329 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$491.9K
$430.4K – $573.9K
NOI $34,433 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,235
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Three-story duplex with separate living areas, shared laundry, fenced outdoor space, and one tenant-occupied unit.
Where is this duplex located?
The property is located at 3425 Illinois Ave Saint Louis, MO.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Three‑story brick duplex with one 1‑bedroom, 1‑bath unit and one upper 2‑bedroom unit; First‑floor residence is currently tenant occupied; upper unit is available; Updates include roof, HVAC, electric, plumbing, windows, and cosmetic improvements
