Three-Unit Income
1504 N Summit Avenue Springfield, MO 65803
1504 N Summit Avenue, Springfield, MO, 65803
$255,000
For Sale
$255,000
MULTI_FAMILY - Springfield, MO
Property Size2,809 SF
Lot Size0.19 Acres
Price / SF$90.78
Days on Market15
Property Features for 1504 N Summit Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Zoning
- INC
- Bedrooms
- 6
- Bathrooms
- 1
- Rooms
- Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 1, Bathroom 1, Bedroom 2
- Parking features
- On Street
- Interior features
- Carpet
- Appliances
- Range
- Standard status
- Active
- APN
- 1312412010
- Size
- 2,809 SF
- Lot size
- 0.19 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- North Springfield O P W 123 Ft Lot 9 Blk 3
- Tax Annual Amount
- 1326
Utilities
- Utilities
- Water Available
- Sewer type
- Public Sewer
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1941
- Number of units
- 3
- Building materials
- Vinyl Siding
- Roof type
- Composition
Listing agency
Keller Williams
(417) 883-4900
Listed by
Wes Litton
(417) 883-4900
Added: Jul 7 Updated: Jul 17 at 11:13PM Checked: Jul 21 at 5:06PM
MLS# 60328223
Copyright © 2026 Southern Missouri Regional MLS, LLC (SOMO). 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 three-unit income property is configured as separate residential units, with each unit featuring two bedrooms. The property provides a straightforward layout for tenants who want individual living space while maintaining the convenience of a multi-unit building.
The asset is located at 1504 N Summit Avenue in Springfield, Missouri, within Greene County. The property is zoned INC, and the overall lot size is listed at 0.19 acres.
For buyers and operators looking for a small residential income portfolio, the property’s three separate two-bedroom units can support a tenant mix that fits common household needs. The building’s multi-unit structure may also appeal to owners seeking manageable scale within a single asset, with leasing activity centered on three independent units rather than a larger number of separate spaces.
The asset is located at 1504 N Summit Avenue in Springfield, Missouri, within Greene County. The property is zoned INC, and the overall lot size is listed at 0.19 acres.
For buyers and operators looking for a small residential income portfolio, the property’s three separate two-bedroom units can support a tenant mix that fits common household needs. The building’s multi-unit structure may also appeal to owners seeking manageable scale within a single asset, with leasing activity centered on three independent units rather than a larger number of separate spaces.
Key Highlights
- 3‑unit property, with each unit featuring 2 bedrooms
- Built in 1941 with vinyl siding construction and a composition roof
- Window unit cooling and carpet interior flooring
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.2k | $15.72 |
| − Vacancy | −$2.9k | −$1.02 |
| EGI | $41.3k | $14.70 |
| − OpEx | −$18.6k | −$6.61 |
| NOI | $22.7k | $8.08 |
2,809 SF · lease $15.72/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$363.7K
$318.3K – $424.4K
NOI $25,461 @ 7.0% cap · market cap 9.98%
Second Best
Apartment 5plus
$324.4K
$283.9K – $378.5K
NOI $22,708 @ 7.0% cap · market cap 8.91%
Theoretical Best
Office A
$424.0K
$371.0K – $494.6K
NOI $29,678 @ 7.0% cap · market cap 11.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-unit rental property in Springfield, each unit offering two bedrooms under INC zoning.
Where is this triplex located?
The property is located at 1504 N Summit Avenue Springfield, MO.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: 3‑unit property, with each unit featuring 2 bedrooms; Built in 1941 with vinyl siding construction and a composition roof; Window unit cooling and carpet interior flooring
