Two-Home Multifamily
For Sale
$425,000
912 Russell Blvd, Saint Louis, MO 63104
Separate residences offer owner-occupant, guest, or rental flexibility in Soulard.
Property Size3,563 SF
Price / SF$119.28
Days on Market147
Property Features for 912 Russell Blvd
General Information
Standard status
Active
Size
3,563 SF
Total Parking Spaces
3
Property subtype
Residential Income
Units
Unit Mix
1 x 4BR/2BA, 1 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,250
Amenities
fenced yard
storage shed
private basements with laundry hookups
Building Details
Buildings
2
Listing Agency:
Garcia Properties
(314) 565-3583
Listed By:
Jenifer Garcia · License #2011006921
(314) 565-3583
Source:
Exprealty
Added: Apr 7
Changed: Aug 29
Last Checked: Aug 29 at 9:35PM
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 Garcia Properties
Investment Insights
Based on property information with market context.
This multifamily property contains two standalone homes totaling 3,563 square feet. The front residence offers 4 bedrooms and 2 bathrooms across three levels, with an open main floor, an upper-level balcony, and two additional bedrooms with a full bathroom on the third floor. The rear home provides 2 bedrooms and 2 bathrooms, including an eat-in kitchen, living area, private upper-level suite with ensuite bath, walk-in closet, and an additional third-floor bedroom and bathroom.
Both homes include private basements with laundry hookups. The property also features a fenced yard, storage shed, and three off-street parking spaces. Located in Soulard, the property is near bars, restaurants, and coffee shops. The two-home layout can accommodate owner occupancy, guest space, or rental use, subject to applicable requirements.
Both homes include private basements with laundry hookups. The property also features a fenced yard, storage shed, and three off-street parking spaces. Located in Soulard, the property is near bars, restaurants, and coffee shops. The two-home layout can accommodate owner occupancy, guest space, or rental use, subject to applicable requirements.
Key Highlights
- Two standalone homes totaling 3,563 square feet
- Front home includes 4 bedrooms and 2 bathrooms
- Rear home includes 2 bedrooms and 2 bathrooms
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
$33,157
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
7.80%
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%
$663,140
$663.1K
Cap Rate 7%
$473,671
$473.7K
Cap Rate 9%
$368,411
$368.4K
Market Conditions
NOI Build-Up for 3,563 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
$64.1K $18.00/SF
− Vacancy
−$3.8K −$1.08/SF
EGI
$60.3K $16.92/SF
− OpEx
−$27.1K −$7.61/SF
NOI
$33.2K $9.31/SF
Area
St. Louis County, MO
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$663,140
Cap Rate 7%
$473,671
Cap Rate 9%
$368,411
Alternative Uses
Best Use
Apartment 5plus
$473.7K
$414.5K – $552.6K
NOI $33,157 @ 7.0% cap · market cap 7.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$764.7K
$669.1K – $892.1K
NOI $53,528 @ 7.0% cap · market cap 12.59%
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
914
Businesses Nearby
Explore this area
Business Placement
Demographics for 63104, MO
19,317
Population
10,958
Households
1.8
Avg Household Size
34
Median Age
54%
College-Educated
94%
High-School Grad
3.4 sq mi
ZIP Area
5,681
Density / Sq Mi
$70,127
Median Household Income
$53,693
Median Earnings
$1,054
Median Rent
$249,500
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?
Multifamily property - Separate residences offer owner-occupant, guest, or rental flexibility in Soulard.
Where is this multifamily property located?
The property is located at 912 Russell Blvd Saint Louis, MO.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two standalone homes totaling 3,563 square feet; Front home includes 4 bedrooms and 2 bathrooms; Rear home includes 2 bedrooms and 2 bathrooms
