Brick Duplex with Updated
For Sale
$194,900
5021 Ray Ave, Saint Louis, MO 63116
Vacant two-family property with refreshed kitchens, bathrooms, flooring, paint, and selected building systems.
Property Size1,536 SF
Days on Market18
Property Features for 5021 Ray Ave
General Information
Standard status
Active
Size
1,536 SF
Property subtype
Multifamily
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Building Details
Building Size
1,536 SF
Year Built
1931
Buildings
1
Construction
brick
Listing Agency:
Invest St Louis LLC
(314) 221-1109
Listed By:
Joey Schenck · License #2018041115
Source:
Investstl
Added: Aug 14
Changed: Aug 29
Last Checked: Aug 30 at 3:58PM
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 Invest St Louis LLC
Investment Insights
Based on property information with market context.
Built in 1931, this brick duplex contains two vacant one-bedroom, one-bathroom units. Recent work includes kitchen and bathroom updates, new paint and flooring, electrical rewiring, sewer lateral replacement, tuckpointing, selected window-glass replacement, exterior trim and gutter repairs, and deck work. The double corner lot provides additional outdoor space and separation between the units.
The property is located near Holly Hills and Carondelet Park in Saint Louis. With both residences unoccupied, the duplex can accommodate an owner-occupant arrangement or new tenancy, subject to the buyer’s plans.
The property is located near Holly Hills and Carondelet Park in Saint Louis. With both residences unoccupied, the duplex can accommodate an owner-occupant arrangement or new tenancy, subject to the buyer’s plans.
Key Highlights
- Two vacant 1‑bedroom, 1‑bathroom units
- 1931 brick duplex on a double corner lot
- Updated kitchens, bathrooms, flooring, and paint
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
$16,425
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
8.43%
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%
$328,500
$328.5K
Cap Rate 7%
$234,643
$234.6K
Cap Rate 9%
$182,500
$182.5K
Market Conditions
NOI Build-Up for 1,536 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
$24.9K $16.20/SF
− Vacancy
−$1.4K −$0.92/SF
EGI
$23.5K $15.28/SF
− OpEx
−$7.0K −$4.58/SF
NOI
$16.4K $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%
$328,500
Cap Rate 7%
$234,643
Cap Rate 9%
$182,500
Alternative Uses
Best Use
Multifamily LT 5
$234.6K
$205.3K – $273.8K
NOI $16,425 @ 7.0% cap · market cap 8.43%
Second Best
Apartment 5plus
$204.2K
$178.7K – $238.2K
NOI $14,294 @ 7.0% cap · market cap 7.33%
Theoretical Best
Office A
$329.7K
$288.5K – $384.6K
NOI $23,076 @ 7.0% cap · market cap 11.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
572
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 - Vacant two-family property with refreshed kitchens, bathrooms, flooring, paint, and selected building systems.
Where is this duplex located?
The property is located at 5021 Ray Ave Saint Louis, MO.
What is the asking price?
The asking price for this property is $194,900.
What are key features of this property?
This property features: Two vacant 1‑bedroom, 1‑bathroom units; 1931 brick duplex on a double corner lot; Updated kitchens, bathrooms, flooring, and paint
