Updated Brick
For Sale
$245,000
3515 Oregon Avenue St, Louis, MO 63118
Residential Income, St Louis, MO
Property Size1,976 SF
Lot Size0.08 Acres
Price / SF$123.99
Days on Market49
Property Features for 3515 Oregon Avenue St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 1
Appliances
Gas Water Heater
Subdivision
Vogel Add
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
Standard status
Active
APN
1574-00-0265-0
Size
1,976 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1556
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1923
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Keller Williams Realty St. Louis
(314) 677-6000
Listed By:
Hayley Tomazic · License #2018041484
(636) 898-3715
Added: Jul 22
Changed: Sep 1
Last Checked: Sep 8 at 8:06AM
MLS# 26044151
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 two-family property at 3515 Oregon Avenue contains 1,976 square feet and sits on a 0.0836-acre lot. Built in 1923, the all-brick structure has updated interiors, separate entrances, and separate utilities for the two units. Interior rooms include four bedrooms and two bathrooms, with each residence offering living space and a functional layout.
Building systems include forced-air heating powered by natural gas, central air conditioning, a gas water heater, and public water service. The property is located in St. Louis near Cherokee Street, Benton Park, and Tower Grove Park, with access to major highways and nearby restaurants, shopping, and parks.
Building systems include forced-air heating powered by natural gas, central air conditioning, a gas water heater, and public water service. The property is located in St. Louis near Cherokee Street, Benton Park, and Tower Grove Park, with access to major highways and nearby restaurants, shopping, and parks.
Key Highlights
- Two‑family property with 1,976 square feet of building area
- 0.0836‑acre lot at 3515 Oregon Avenue
- All‑brick construction dating to 1923
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two updated units offer separate entrances and utilities in a classic brick residential building.
Where is this duplex located?
The property is located at 3515 Oregon Avenue St 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 property with 1,976 square feet of building area; 0.0836‑acre lot at 3515 Oregon Avenue; All‑brick construction dating to 1923
