Updated Two-Unit
For Sale
$515,000
5641 Cates Ave, Saint Louis, MO 63112
Two refreshed residences offer flexible occupancy and rental configurations near Washington University.
Property Size2,090 SF
Price / SF$246.41
Days on Market9
Property Features for 5641 Cates Ave
General Information
Standard status
Active
Size
2,090 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/3BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,228
Amenities
private backyard
Listing Agency:
Berkshire Hathaway HomeServices Select Properties
(636) 720-1100
Listed By:
Toni Roberts · License #2013043742
(314) 363-7533
Source:
Exprealty
Added: Aug 28
Changed: Sep 4
Last Checked: Sep 4 at 3:19PM
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 Berkshire Hathaway HomeServices Select Properties
Investment Insights
Based on property information with market context.
This updated duplex contains two separate residences with practical layouts for owner occupancy or rental use. The larger unit spans two stories and includes 3 bedrooms and 3 bathrooms, while the second residence provides 2 bedrooms and 1 bathroom. Both units feature refreshed interiors, and furnishings are negotiable for a buyer planning to continue rental operations. A private backyard adds outdoor space to the property.
Set on a quiet cul-de-sac near Washington University, the property is 1.5 miles from the Delmar Loop and offers access to nearby dining, shopping, entertainment, and public transportation. The property has previously operated as a short-term rental and has an established rental history, supporting several potential occupancy arrangements.
Set on a quiet cul-de-sac near Washington University, the property is 1.5 miles from the Delmar Loop and offers access to nearby dining, shopping, entertainment, and public transportation. The property has previously operated as a short-term rental and has an established rental history, supporting several potential occupancy arrangements.
Key Highlights
- Two‑unit duplex with updated interiors
- Two‑story unit with 3 bedrooms and 3 bathrooms
- Second unit includes 2 bedrooms and 1 bathroom
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
$22,350
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
4.34%
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%
$447,000
$447.0K
Cap Rate 7%
$319,286
$319.3K
Cap Rate 9%
$248,333
$248.3K
Market Conditions
NOI Build-Up for 2,090 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
$33.9K $16.20/SF
− Vacancy
−$1.9K −$0.92/SF
EGI
$31.9K $15.28/SF
− OpEx
−$9.6K −$4.58/SF
NOI
$22.3K $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%
$447,000
Cap Rate 7%
$319,286
Cap Rate 9%
$248,333
Alternative Uses
Best Use
Multifamily LT 5
$319.3K
$279.4K – $372.5K
NOI $22,350 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$277.9K
$243.1K – $324.2K
NOI $19,450 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$448.6K
$392.5K – $523.3K
NOI $31,399 @ 7.0% cap · market cap 6.10%
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
747
Businesses Nearby
Explore this area
Business Placement
Demographics for 63112, MO
18,954
Population
11,521
Households
1.6
Avg Household Size
33
Median Age
44%
College-Educated
89%
High-School Grad
3.2 sq mi
ZIP Area
5,923
Density / Sq Mi
$43,262
Median Household Income
$36,297
Median Earnings
$911
Median Rent
$216,400
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 - Two refreshed residences offer flexible occupancy and rental configurations near Washington University.
Where is this duplex located?
The property is located at 5641 Cates Ave Saint Louis, MO.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Two‑unit duplex with updated interiors; Two‑story unit with 3 bedrooms and 3 bathrooms; Second unit includes 2 bedrooms and 1 bathroom
