Occupied Duplex with Rear
For Sale
$312,500
3824 Folsom Ave, Saint Louis, MO 63110
Two occupied residential units offer central air, private laundry, and separate rear access near SLU and Shaw.
Property Size2,250 SF
Price / SF$138.89
Days on Market134
Property Features for 3824 Folsom Ave
General Information
Standard status
Active
Size
2,250 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2,008
Amenities
central air/heat
in-unit laundry
parking
deck
Building Details
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Platinum Realty of St. Louis
(314) 306-2250
Listed By:
Jonathan Douek · License #2012038597
(314) 306-2250
Source:
Exprealty
Added: Apr 20
Changed: Aug 29
Last Checked: Aug 30 at 7:32PM
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 Platinum Realty of St. Louis
Investment Insights
Based on property information with market context.
This two-unit residential property contains 2,250 SF with matching 2bed/1bath layouts. Both apartments are occupied, and each includes central air and heat, in-unit laundry, and some newer appliances. The first-floor residence is furnished and operates as a mid-term rental, while the upper unit has been occupied by the same long-term tenant for more than 30 years.
Rear parking supports the property, and a two-story deck provides entry access from the back. The duplex sits on a quiet cul-de-sac near SLU and Shaw. Either unit may be available for vacancy by the end of August, subject to the stated tenancy arrangements. The owner-agent prefers an as-is sale.
Rear parking supports the property, and a two-story deck provides entry access from the back. The duplex sits on a quiet cul-de-sac near SLU and Shaw. Either unit may be available for vacancy by the end of August, subject to the stated tenancy arrangements. The owner-agent prefers an as-is sale.
Key Highlights
- 2,250 SF duplex with two 2bed/1bath units
- Both units currently occupied
- Central air/heat and in‑unit laundry in both units
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
$24,061
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
7.70%
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%
$481,220
$481.2K
Cap Rate 7%
$343,729
$343.7K
Cap Rate 9%
$267,344
$267.3K
Market Conditions
NOI Build-Up for 2,250 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
$36.5K $16.20/SF
− Vacancy
−$2.1K −$0.92/SF
EGI
$34.4K $15.28/SF
− OpEx
−$10.3K −$4.58/SF
NOI
$24.1K $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%
$481,220
Cap Rate 7%
$343,729
Cap Rate 9%
$267,344
Alternative Uses
Best Use
Multifamily LT 5
$343.7K
$300.8K – $401.0K
NOI $24,061 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$299.1K
$261.7K – $349.0K
NOI $20,939 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$482.9K
$422.5K – $563.4K
NOI $33,802 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,492
Businesses Nearby
Explore this area
Business Placement
Demographics for 63110, MO
18,199
Population
10,260
Households
1.8
Avg Household Size
33
Median Age
64%
College-Educated
97%
High-School Grad
6.6 sq mi
ZIP Area
2,757
Density / Sq Mi
$73,809
Median Household Income
$55,340
Median Earnings
$1,183
Median Rent
$314,600
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 occupied residential units offer central air, private laundry, and separate rear access near SLU and Shaw.
Where is this duplex located?
The property is located at 3824 Folsom Ave Saint Louis, MO.
What is the asking price?
The asking price for this property is $312,500.
What are key features of this property?
This property features: 2,250 SF duplex with two 2bed/1bath units; Both units currently occupied; Central air/heat and in‑unit laundry in both units
