Brick Duplex with Detached
For Sale
$233,900
415 Fassen Street St, Louis, MO 63111
Residential Income, St Louis, MO
Property Size1,862 SF
Lot Size0.07 Acres
Price / SF$125.62
Days on Market55
Property Features for 415 Fassen Street St
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
Basement
Full
Subdivision
Carondelet City Bl 2837
Elementary school
Woodward 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
Google Friendly
Standard status
Active
APN
2837-00-0100-0
Size
1,862 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1618
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
detached garage
Building Details
Year built
1914
Floors in Building
2
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
EXP Realty, LLC
(866) 224-1761
Listed By:
Jennifer Wilson · License #2019013461
(913) 908-8001
Added: Jul 22
Changed: Sep 5
Last Checked: Sep 14 at 5:06AM
MLS# 26040721
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 brick duplex contains two 1-bedroom, 1-bath units within an 1,862-square-foot residential property. Both units are leased, and the building includes a detached garage along with a basement. Central air and forced-air heating serve the property, while public water supports the building. On-street parking is provided, and construction dates to 1914.
The property is located at 415 Fassen Street in St. Louis, Missouri 63111. Nearby conveniences identified for the property include shopping, restaurants, parks, public transportation, and major highways. The lot encompasses 0.0713 acres.
The property is located at 415 Fassen Street in St. Louis, Missouri 63111. Nearby conveniences identified for the property include shopping, restaurants, parks, public transportation, and major highways. The lot encompasses 0.0713 acres.
Key Highlights
- Two 1‑bedroom, 1‑bath units, both currently leased
- 1,862 square feet on a 0.0713‑acre lot
- Detached garage and basement included
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
$19,912
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
8.51%
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%
$398,240
$398.2K
Cap Rate 7%
$284,457
$284.5K
Cap Rate 9%
$221,244
$221.2K
Market Conditions
NOI Build-Up for 1,862 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
$30.2K $16.20/SF
− Vacancy
−$1.7K −$0.92/SF
EGI
$28.4K $15.28/SF
− OpEx
−$8.5K −$4.58/SF
NOI
$19.9K $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%
$398,240
Cap Rate 7%
$284,457
Cap Rate 9%
$221,244
Alternative Uses
Best Use
Multifamily LT 5
$284.5K
$248.9K – $331.9K
NOI $19,912 @ 7.0% cap · market cap 8.51%
Second Best
Apartment 5plus
$247.5K
$216.6K – $288.8K
NOI $17,328 @ 7.0% cap · market cap 7.41%
Theoretical Best
Office A
$399.6K
$349.7K – $466.2K
NOI $27,973 @ 7.0% cap · market cap 11.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
Explore this area
Business Placement
Demographics for 63111, MO
19,538
Population
10,541
Households
1.9
Avg Household Size
37
Median Age
19%
College-Educated
86%
High-School Grad
3.2 sq mi
ZIP Area
6,106
Density / Sq Mi
$43,295
Median Household Income
$33,114
Median Earnings
$846
Median Rent
$115,500
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 leased residential units offer a compact income-producing configuration with central air and forced-air heating.
Where is this duplex located?
The property is located at 415 Fassen Street St Louis, MO.
What is the asking price?
The asking price for this property is $233,900.
What are key features of this property?
This property features: Two 1‑bedroom, 1‑bath units, both currently leased; 1,862 square feet on a 0.0713‑acre lot; Detached garage and basement included
