Renovated Brick
For Sale
$184,900
5021 Ray Avenue St, Louis, MO 63116
Residential Income, St Louis, MO
Property Size1,536 SF
Lot Size0.14 Acres
Price / SF$120.38
Days on Market46
Property Features for 5021 Ray Avenue St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Basement, Bedroom 1
Basement
Full
Subdivision
Usona Heights Add
Elementary school
Woerner Elem.
Middle school
Long Middle Community Ed. Center
High school
Roosevelt High
Elementary school district
St. Louis City
Middle school district
St. Louis City
High school district
St. Louis City
Directions
GPS
Standard status
Active
APN
5655-9-160.000
Size
1,536 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
C.B. 5655 RAY AVE, 108 FT 8 3/4 IN X 57 FT 6 IN, USONA HEIGHTS ADDN, LOT S.PT 121-122
Tax Annual Amount
1529
Legal Description
C.B. 5655 RAY AVE, 108 FT 8 3/4 IN X 57 FT 6 IN, USONA HEIGHTS ADDN, LOT S.PT 121-122
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1931
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Invest St. Louis
(314) 325-6201
Listed By:
Joey Schenck · License #2025043112
(314) 221-1109
Added: Aug 12
Changed: Sep 26
Last Checked: Sep 26 at 9:06PM
MLS# 26051414
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 two-family brick residence contains 1,536 square feet arranged as two one-bedroom, one-bath units. The property was built in 1931 and includes a basement, deck areas, public water, forced-air heating, and window or wall/window cooling systems. The upper residence is leased, while the lower residence is vacant for a new owner’s occupancy or tenant placement.
Recent seller-reported work includes kitchen and bathroom updates, interior paint and flooring, electrical rewiring, sewer lateral replacement, tuckpointing, selected window-glass replacement, exterior trim and gutter repairs, and deck repairs. The property occupies a 0.1435-acre double corner lot near Holly Hills and Carondelet Park in St. Louis City.
Its two-unit layout supports multiple ownership arrangements, including living in one residence while leasing the other or operating both as rental units. The brick construction and completed improvements provide a defined physical foundation for continued residential use.
Recent seller-reported work includes kitchen and bathroom updates, interior paint and flooring, electrical rewiring, sewer lateral replacement, tuckpointing, selected window-glass replacement, exterior trim and gutter repairs, and deck repairs. The property occupies a 0.1435-acre double corner lot near Holly Hills and Carondelet Park in St. Louis City.
Its two-unit layout supports multiple ownership arrangements, including living in one residence while leasing the other or operating both as rental units. The brick construction and completed improvements provide a defined physical foundation for continued residential use.
Key Highlights
- Two one‑bedroom, one‑bath units within 1,536 square feet
- 0.1435‑acre double corner lot near Holly Hills and Carondelet Park
- Brick construction; built in 1931
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
8.88%
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 8.88%
Second Best
Apartment 5plus
$204.2K
$178.7K – $238.2K
NOI $14,294 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$329.7K
$288.5K – $384.6K
NOI $23,076 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two one-bedroom residences with updated interiors, separate outdoor space, and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 5021 Ray Avenue St Louis, MO.
What is the asking price?
The asking price for this property is $184,900.
What are key features of this property?
This property features: Two one‑bedroom, one‑bath units within 1,536 square feet; 0.1435‑acre double corner lot near Holly Hills and Carondelet Park; Brick construction; built in 1931
