Side-by-Side
For Sale
$365,000
Pending
3906 Berger Ave, Saint Louis, MO 63109
Two townhouse-style units offer private basements, hardwood flooring, and access to a covered porch and fenced yard.
Property Size1,924 SF
Days on Market16
Property Features for 3906 Berger Ave
General Information
Standard status
Pending
Size
1,924 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$2,555
Building Details
Tenancy
Multi
Listing Agency:
RedKey Realty Leaders
(314) 537-7404
Listed By:
Stephanie Noecker · License #2008017775
(314) 537-7404
Source:
Exprealty
Added: Jul 23
Changed: Aug 3
Last Checked: Aug 3 at 6:14AM
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 RedKey Realty Leaders
Investment Insights
Based on property information with market context.
This side-by-side duplex contains two townhouse-style units within a 1,924-square-foot building. Both residences feature hardwood floors, private basements with tall ceilings and natural light, and updated windows. The 3908 side adds a renovated kitchen with built-in storage, an updated bathroom, and custom window treatments. A newer 7 yr roof supports the property's recent maintenance profile.
Residents have use of a covered back porch and fenced yard with space for gardening. The property also includes a spacious garage sold As-Is, offering secure parking and additional storage. Positioned on Berger, the duplex sits one block west of Lindenwood Park in a walkable neighborhood setting.
Residents have use of a covered back porch and fenced yard with space for gardening. The property also includes a spacious garage sold As-Is, offering secure parking and additional storage. Positioned on Berger, the duplex sits one block west of Lindenwood Park in a walkable neighborhood setting.
Key Highlights
- Two‑unit side‑by‑side duplex totaling 1,924 SF
- Newer 7 yr roof and updated windows
- Hardwood floors installed 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
$20,575
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
5.64%
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%
$411,500
$411.5K
Cap Rate 7%
$293,929
$293.9K
Cap Rate 9%
$228,611
$228.6K
Market Conditions
NOI Build-Up for 1,924 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
$31.2K $16.20/SF
− Vacancy
−$1.8K −$0.92/SF
EGI
$29.4K $15.28/SF
− OpEx
−$8.8K −$4.58/SF
NOI
$20.6K $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%
$411,500
Cap Rate 7%
$293,929
Cap Rate 9%
$228,611
Alternative Uses
Best Use
Multifamily LT 5
$293.9K
$257.2K – $342.9K
NOI $20,575 @ 7.0% cap · market cap 5.64%
Second Best
Apartment 5plus
$255.8K
$223.8K – $298.4K
NOI $17,905 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$412.9K
$361.3K – $481.8K
NOI $28,905 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
606
Businesses Nearby
Explore this area
Business Placement
Demographics for 63109, MO
26,777
Population
14,963
Households
1.8
Avg Household Size
39
Median Age
52%
College-Educated
96%
High-School Grad
3.5 sq mi
ZIP Area
7,651
Density / Sq Mi
$71,563
Median Household Income
$52,245
Median Earnings
$929
Median Rent
$244,900
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 townhouse-style units offer private basements, hardwood flooring, and access to a covered porch and fenced yard.
Where is this duplex located?
The property is located at 3906 Berger Ave Saint Louis, MO.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Two‑unit side‑by‑side duplex totaling 1,924 SF; Newer 7 yr roof and updated windows; Hardwood floors installed in both units
