Updated Brick
For Sale
$275,000
3924 Miami St, Saint Louis, MO 63116
Two well-maintained residences offer modern finishes, separate utilities, private storage, and shared laundry.
Property Size1,722 SF
Price / SF$159.70
Days on Market30
Property Features for 3924 Miami St
General Information
Standard status
Active
Size
1,722 SF
Property subtype
Residential Income
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,732
Amenities
hardwood floors
original stained-glass windows
updated kitchens and baths
central air
separate gas and electric utilities
private basement storage
shared laundry
Building Details
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Select Properties
(314) 882-3309
Listed By:
Anna Kozak
(314) 882-3309
Source:
Exprealty
Added: Jul 23
Changed: Aug 20
Last Checked: Aug 20 at 11:48AM
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 Berkshire Hathaway HomeServices Select Properties
Investment Insights
Based on property information with market context.
This 1,722-square-foot duplex at 3924 Miami St includes two 1-bedroom, 1-bath residences in an all-brick building. Both units feature hardwood flooring, original stained-glass windows, refreshed kitchens and bathrooms, central air, separate gas and electric utilities, and private basement storage. Shared laundry serves the property. The first-floor residence is vacant and ready for occupancy, while the second-floor residence is tenant occupied. The sale is offered as-is, with no inspections, repairs, warranties, or concessions from the seller.
The property is located in Tower Grove South, within blocks of Tower Grove Park and near South Grand restaurants, cafés, shopping, parks, and other neighborhood businesses. The surrounding area is characterized by historic housing and walkable access to local amenities.
The property is located in Tower Grove South, within blocks of Tower Grove Park and near South Grand restaurants, cafés, shopping, parks, and other neighborhood businesses. The surrounding area is characterized by historic housing and walkable access to local amenities.
Key Highlights
- 1,722‑square‑foot all‑brick duplex
- Two 1‑bedroom, 1‑bath residences
- First‑floor unit is vacant; second‑floor unit is tenant occupied
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
$18,414
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
6.70%
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%
$368,280
$368.3K
Cap Rate 7%
$263,057
$263.1K
Cap Rate 9%
$204,600
$204.6K
Market Conditions
NOI Build-Up for 1,722 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
$27.9K $16.20/SF
− Vacancy
−$1.6K −$0.92/SF
EGI
$26.3K $15.28/SF
− OpEx
−$7.9K −$4.58/SF
NOI
$18.4K $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%
$368,280
Cap Rate 7%
$263,057
Cap Rate 9%
$204,600
Alternative Uses
Best Use
Multifamily LT 5
$263.1K
$230.2K – $306.9K
NOI $18,414 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$228.9K
$200.3K – $267.1K
NOI $16,025 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$369.6K
$323.4K – $431.2K
NOI $25,870 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
975
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
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 well-maintained residences offer modern finishes, separate utilities, private storage, and shared laundry.
Where is this duplex located?
The property is located at 3924 Miami St Saint Louis, MO.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,722‑square‑foot all‑brick duplex; Two 1‑bedroom, 1‑bath residences; First‑floor unit is vacant; second‑floor unit is tenant occupied
