Two-Unit Duplex with Detached
For Sale
$429,000
6500 Devonshire Ave, Saint Louis, MO 63109
Corner-lot duplex with fenced backyard near Francis Park, restaurants, shops, and Ted Drewes Frozen Custard.
Property Size2,686 SF
Price / SF$159.72
Days on Market29
Property Features for 6500 Devonshire Ave
General Information
Standard status
Active
Size
2,686 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,875
Amenities
fenced backyard
Listing Agency:
Failoni Consultants R.E.Co.
(314) 772-8407
Listed By:
Wayne Failoni · License #1999019426
(314) 772-8407
Source:
Exprealty
Added: Jul 24
Changed: Aug 20
Last Checked: Aug 20 at 12:34PM
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 Failoni Consultants R.E.Co.
Investment Insights
Based on property information with market context.
This two-family duplex contains 2,686 SF with matching unit layouts featuring two bedrooms and one bathroom per unit. The property sits on a corner lot and includes a fenced backyard along with a detached two-car garage. Its configuration supports separate residential units within one building, with practical outdoor and parking improvements already in place.
The property is located in the St. Louis Hills neighborhood near Ted Drewes Frozen Custard and Francis Park. Restaurants and shops along the Hampton commercial corridor are also nearby, adding established neighborhood amenities within the surrounding area.
The property is located in the St. Louis Hills neighborhood near Ted Drewes Frozen Custard and Francis Park. Restaurants and shops along the Hampton commercial corridor are also nearby, adding established neighborhood amenities within the surrounding area.
Key Highlights
- Two‑family duplex with 2,686 SF
- Two units, each with 2 bedrooms and 1 bathroom
- Corner‑lot setting in St. Louis Hills
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
$28,723
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
6.70%
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%
$574,460
$574.5K
Cap Rate 7%
$410,329
$410.3K
Cap Rate 9%
$319,144
$319.1K
Market Conditions
NOI Build-Up for 2,686 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
$43.5K $16.20/SF
− Vacancy
−$2.5K −$0.92/SF
EGI
$41.0K $15.28/SF
− OpEx
−$12.3K −$4.58/SF
NOI
$28.7K $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%
$574,460
Cap Rate 7%
$410,329
Cap Rate 9%
$319,144
Alternative Uses
Best Use
Multifamily LT 5
$410.3K
$359.0K – $478.7K
NOI $28,723 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$357.1K
$312.5K – $416.6K
NOI $24,996 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$576.5K
$504.4K – $672.5K
NOI $40,352 @ 7.0% cap · market cap 9.41%
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
803
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?
Duplex - Corner-lot duplex with fenced backyard near Francis Park, restaurants, shops, and Ted Drewes Frozen Custard.
Where is this duplex located?
The property is located at 6500 Devonshire Ave Saint Louis, MO.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Two‑family duplex with 2,686 SF; Two units, each with 2 bedrooms and 1 bathroom; Corner‑lot setting in St. Louis Hills
