4-Unit Brick
For Sale
$399,900
4928 Winona Ave, Saint Louis, MO 63109
Each apartment has one bedroom and one bathroom, and three of the four units are occupied.
Property Size2,900 SF
Price / SF$137.90
Days on Market10
Property Features for 4928 Winona Ave
General Information
Standard status
Active
Size
2,900 SF
Total Parking Spaces
3
Property subtype
Residential Income
Occupancy
75%
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,129
Building Details
Construction
brick
Listing Agency:
Homecoming Realty, LLC
(314) 484-6396
Listed By:
Matt Cook
(314) 556-0688
Source:
Exprealty
Added: Sep 18
Changed: Sep 26
Last Checked: Sep 26 at 3:26PM
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 Homecoming Realty, LLC
Investment Insights
Based on property information with market context.
The 2,900-square-foot brick building contains four apartments, each with one bedroom and one bathroom. Plumbing has been updated, and the windows have been replaced. A three-car garage is also part of the property.
Three apartments are occupied under month-to-month arrangements; the fourth is vacant. The property is located at 4928 Winona Ave in Saint Louis, Missouri.
Three apartments are occupied under month-to-month arrangements; the fourth is vacant. The property is located at 4928 Winona Ave in Saint Louis, Missouri.
Key Highlights
- Four one‑bedroom, one‑bathroom apartments in a 2,900‑square‑foot building
- Three‑car garage
- Three of the four units are occupied, with month‑to‑month tenancies
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
$31,011
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
7.75%
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%
$620,220
$620.2K
Cap Rate 7%
$443,014
$443.0K
Cap Rate 9%
$344,567
$344.6K
Market Conditions
NOI Build-Up for 2,900 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
$47.0K $16.20/SF
− Vacancy
−$2.7K −$0.92/SF
EGI
$44.3K $15.28/SF
− OpEx
−$13.3K −$4.58/SF
NOI
$31.0K $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%
$620,220
Cap Rate 7%
$443,014
Cap Rate 9%
$344,567
Alternative Uses
Best Use
Multifamily LT 5
$443.0K
$387.6K – $516.9K
NOI $31,011 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$385.5K
$337.3K – $449.8K
NOI $26,987 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$622.4K
$544.6K – $726.1K
NOI $43,567 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
75%
Occupancy
Location Intelligence
Trade Area within ½ mile
831
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Each apartment has one bedroom and one bathroom, and three of the four units are occupied.
Where is this quadplex located?
The property is located at 4928 Winona Ave Saint Louis, MO.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Four one‑bedroom, one‑bathroom apartments in a 2,900‑square‑foot building; Three‑car garage; Three of the four units are occupied, with month‑to‑month tenancies
