Updated Brick
For Sale
$245,000
3515 Oregon Ave, Saint Louis, MO 63118
Two residential units provide separate entrances and utility services for added operational flexibility.
Property Size1,976 SF
Price / SF$123.99
Days on Market54
Property Features for 3515 Oregon Ave
General Information
Standard status
Active
Size
1,976 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,556
Building Details
Buildings
1
Construction
all-brick
Listing Agency:
Keller Williams Realty St. Louis
(314) 229-2009
Listed By:
Hayley Tomazic · License #2018041484
(314) 229-2009
Source:
Exprealty
Added: Jul 10
Changed: Aug 31
Last Checked: Aug 31 at 7:08PM
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 Keller Williams Realty St. Louis
Investment Insights
Based on property information with market context.
This two-family property in Gravois Park contains 1,976 square feet across two residential units. The all-brick structure has been updated while retaining its traditional South City character, with bright living areas, refreshed finishes, and practical layouts. Each unit has its own entrance and utilities, supporting clear separation between households.
Located at 3515 Oregon Ave in Saint Louis, the property is near Cherokee Street, Benton Park, and Tower Grove Park, with access to major highways. Restaurants, retail, parks, and other South St. Louis amenities are also identified nearby.
Located at 3515 Oregon Ave in Saint Louis, the property is near Cherokee Street, Benton Park, and Tower Grove Park, with access to major highways. Restaurants, retail, parks, and other South St. Louis amenities are also identified nearby.
Key Highlights
- Two‑family duplex with 1,976 SF
- All‑brick construction with updated interiors
- Two units with separate entrances and utilities
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
$21,131
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
8.62%
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%
$422,620
$422.6K
Cap Rate 7%
$301,871
$301.9K
Cap Rate 9%
$234,789
$234.8K
Market Conditions
NOI Build-Up for 1,976 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
$32.0K $16.20/SF
− Vacancy
−$1.8K −$0.92/SF
EGI
$30.2K $15.28/SF
− OpEx
−$9.1K −$4.58/SF
NOI
$21.1K $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%
$422,620
Cap Rate 7%
$301,871
Cap Rate 9%
$234,789
Alternative Uses
Best Use
Multifamily LT 5
$301.9K
$264.1K – $352.2K
NOI $21,131 @ 7.0% cap · market cap 8.62%
Second Best
Apartment 5plus
$262.7K
$229.9K – $306.5K
NOI $18,389 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$424.1K
$371.1K – $494.8K
NOI $29,686 @ 7.0% cap · market cap 12.12%
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
1,404
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 - Two residential units provide separate entrances and utility services for added operational flexibility.
Where is this duplex located?
The property is located at 3515 Oregon Ave Saint Louis, MO.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Two‑family duplex with 1,976 SF; All‑brick construction with updated interiors; Two units with separate entrances and utilities
