Renovated Quadplex with Four-Car
For Sale
$500,000
5448 Rhodes Ave, Saint Louis, MO 63109
Four-unit residential property with updated interiors, central air, enclosed rear sunporches, and a detached brick garage.
Property Size2,904 SF
Price / SF$172.18
Days on Market21
Property Features for 5448 Rhodes Ave
General Information
Standard status
Active
Size
2,904 SF
Total Parking Spaces
4
Property subtype
Residential Income
Additional Details
Asking Price
$500,000
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,048
Amenities
central air
enclosed sunporches
Building Details
Buildings
1
Listing Agency:
Byron Martin Real Estate Co.
(314) 367-0689
Listed By:
Byron Martin
(314) 367-0689
Source:
Exprealty
Added: Aug 10
Changed: Aug 29
Last Checked: Aug 29 at 5:40PM
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 Byron Martin Real Estate Co.
Investment Insights
Based on property information with market context.
Located at 5448 Rhodes Ave in Saint Louis's Princeton Heights neighborhood, this 2,904-square-foot quadplex contains four apartments, each with an enclosed rear sunporch and central air. Three units have been renovated with newer kitchens and appliances, refreshed bathrooms, refinished hardwood floors, and updated lighting.
Building improvements include updated plumbing supply lines and stacks, along with upgraded electrical panels. A detached brick garage with four car spaces provides off-street parking. One apartment is vacant, while the remaining units are occupied, offering flexibility for an owner occupant or an investor.
Building improvements include updated plumbing supply lines and stacks, along with upgraded electrical panels. A detached brick garage with four car spaces provides off-street parking. One apartment is vacant, while the remaining units are occupied, offering flexibility for an owner occupant or an investor.
Key Highlights
- Four apartments within a 2,904‑square‑foot quadplex
- Three of four units renovated with updated kitchens, bathrooms, flooring, and lighting
- All four apartments include central air and enclosed rear sunporches
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
$31,054
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
6.21%
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%
$621,080
$621.1K
Cap Rate 7%
$443,629
$443.6K
Cap Rate 9%
$345,044
$345.0K
Market Conditions
NOI Build-Up for 2,904 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
$44.4K $15.28/SF
− OpEx
−$13.3K −$4.58/SF
NOI
$31.1K $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%
$621,080
Cap Rate 7%
$443,629
Cap Rate 9%
$345,044
Alternative Uses
Best Use
Multifamily LT 5
$443.6K
$388.2K – $517.6K
NOI $31,054 @ 7.0% cap · market cap 6.21%
Second Best
Apartment 5plus
$386.1K
$337.8K – $450.4K
NOI $27,025 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$623.2K
$545.3K – $727.1K
NOI $43,627 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
691
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential property with updated interiors, central air, enclosed rear sunporches, and a detached brick garage.
Where is this quadplex located?
The property is located at 5448 Rhodes Ave Saint Louis, MO.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Four apartments within a 2,904‑square‑foot quadplex; Three of four units renovated with updated kitchens, bathrooms, flooring, and lighting; All four apartments include central air and enclosed rear sunporches
