Updated Brick
For Sale
$375,000
3644-3646 Bates Street, Saint Louis, MO 63116
Residential Income, St Louis, MO
Property Size3,552 SF
Lot Size0.15 Acres
Price / SF$105.57
Days on Market52
Property Features for 3644-3646 Bates Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 3, Bathroom 4, Basement, Bedroom 2, Bathroom 2, Bathroom 1
Parking
4
Parking features
On Street, Off Street
Patio and Porch features
Porch
Interior features
Ceiling Fan(s), Eat-in Kitchen
Basement
Full
Subdivision
Garnd Dover Park
Lot features
City Lot
Elementary school
Woerner Elem.
Middle school
Lyon-Blow Middle
High school
Roosevelt High
Elementary school district
St. Louis City
Middle school district
St. Louis City
High school district
St. Louis City
Directions
GPS Friendly :-)
Standard status
Active
APN
5863-00-0130-0
Size
3,552 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
C.B.5863 BATES 47 FT 6 IN X 142 FT 0 3/4 IN/142 FT 2 IN GRAND DOVER PARK ADDN BLOCK 1 LOT 13 & E14
Tax Annual Amount
3161
Legal Description
C.B.5863 BATES 47 FT 6 IN X 142 FT 0 3/4 IN/142 FT 2 IN GRAND DOVER PARK ADDN BLOCK 1 LOT 13 & E14
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
basement laundry
private parking
Building Details
Year built
1927
Floors in Building
2
Number of units
4
Building materials
Brick
Architectural style
Other
Listing Agency:
EXP Realty, LLC
(866) 224-1761
Listed By:
Christoph Dewald · License #2020037702
(636) 232-1614
Added: Aug 14
Changed: Sep 29
Last Checked: Oct 4 at 11:06PM
MLS# 26051182
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 3,552-square-foot quadplex contains four rental units within a brick building constructed in 1927. The property is fully occupied and includes a functional unit layout, basement laundry areas with washer and dryer locations, and porches. Interior features include ceiling fans and eat-in kitchens, while forced-air heating and central air conditioning serve the building. A new TPO roof was installed in 2024.
The property occupies 0.1532 acres at 3644-3646 Bates Street in St. Louis, Missouri 63116. Parking is available off street at the rear, with additional on-street parking. Public water serves the property, and the location provides access to highways, Carondelet Park, shopping, and other amenities.
The property occupies 0.1532 acres at 3644-3646 Bates Street in St. Louis, Missouri 63116. Parking is available off street at the rear, with additional on-street parking. Public water serves the property, and the location provides access to highways, Carondelet Park, shopping, and other amenities.
Key Highlights
- Four fully occupied rental units in one building
- 3,552 square feet on 0.1532 acres
- New TPO roof installed in 2024
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
$33,055
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
8.81%
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%
$661,100
$661.1K
Cap Rate 7%
$472,214
$472.2K
Cap Rate 9%
$367,278
$367.3K
Market Conditions
NOI Build-Up for 3,552 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
$63.9K $18.00/SF
− Vacancy
−$3.8K −$1.08/SF
EGI
$60.1K $16.92/SF
− OpEx
−$27.0K −$7.61/SF
NOI
$33.1K $9.31/SF
Area
St. Louis County, MO
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$661,100
Cap Rate 7%
$472,214
Cap Rate 9%
$367,278
Alternative Uses
Best Use
Multifamily LT 5
$542.6K
$474.8K – $633.1K
NOI $37,984 @ 7.0% cap · market cap 10.13%
Second Best
Apartment 5plus
$472.2K
$413.2K – $550.9K
NOI $33,055 @ 7.0% cap · market cap 8.81%
Theoretical Best
Office A
$762.3K
$667.0K – $889.4K
NOI $53,363 @ 7.0% cap · market cap 14.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
469
Businesses Nearby
Explore this area
Business Placement
Demographics for 63116, MO
41,959
Population
22,394
Households
1.9
Avg Household Size
37
Median Age
37%
College-Educated
90%
High-School Grad
5.4 sq mi
ZIP Area
7,770
Density / Sq Mi
$60,193
Median Household Income
$42,012
Median Earnings
$946
Median Rent
$161,100
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?
Quadplex - Fully occupied four-unit property with basement laundry areas, private rear parking, and central air conditioning.
Where is this quadplex located?
The property is located at 3644-3646 Bates Street Saint Louis, MO.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Four fully occupied rental units in one building; 3,552 square feet on 0.1532 acres; New TPO roof installed in 2024
