Duplex with Nearly Two
For Sale
$359,900
1622 &1624 W Fairview Ave, Carthage, MO 64836
Commercial Sale, Carthage, MO
Property Size3,460 SF
Lot Size1.96 Acres
Price / SF$104.02
Days on Market38
Property Features for 1622 &1624 W Fairview Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Basement
Unfinished, Partial
Directions
Garrison and Fairview west to home. After crossing I-49, it's the third house on the south side.
Subdivision
09 - Carthage Area
Standard status
Active
Size
3,460 SF
Lot size
1.96 Acres
Taxes and HOA fees
Tax Annual Amount
1895
Utilities
Heating system
Central, Natural Gas
Cooling system
Central Air, Ceiling Fan(s)
Building Details
Year built
1920
Flooring type
Carpet, Vinyl, Laminate
Roof type
Composition
Listing Agency:
Fathom Realty
(888) 455-6040
Listed By:
YES Real Estate Group, Christine Yunek · License #2004031604
(417) 674-1514
Added: Jul 30
Changed: Sep 5
Last Checked: Sep 5 at 6:06PM
MLS# 264229
Copyright © 2026 Ozark Gateway Association of Realtors. 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 duplex features two freestanding homes on a 1.96-acre lot, each laid out with three bedrooms and two bathrooms. The combined living area is 3,460 square feet, with a front home offering nearly 2,000 square feet and a back home offering approximately 1,500 square feet. Flooring includes laminate, vinyl, and carpet. Heating is central and natural gas, and cooling includes central air and ceiling fans. The property also includes a basement, and the roof is composition.
The front home was extensively remodeled in January 2026 with new paint, flooring, light fixtures, and a new central heating system installed the first week of January 2026. It also includes vinyl siding installed in summer 2021 and a roof installed in 2018. The back home includes updates including a remodeled bathroom, with a new central heating system and water heater installed in March 2025, along with a roof replacement in spring 2018.
Located on the edge of Carthage, just outside the city limits, the property offers easy highway access. The seller is in the process of having a tree removed that recently fell on the property.
The front home was extensively remodeled in January 2026 with new paint, flooring, light fixtures, and a new central heating system installed the first week of January 2026. It also includes vinyl siding installed in summer 2021 and a roof installed in 2018. The back home includes updates including a remodeled bathroom, with a new central heating system and water heater installed in March 2025, along with a roof replacement in spring 2018.
Located on the edge of Carthage, just outside the city limits, the property offers easy highway access. The seller is in the process of having a tree removed that recently fell on the property.
Key Highlights
- Two freestanding homes, each with three bedrooms and two bathrooms
- 1.96‑acre lot with easy highway access outside city limits
- Combined living area of 3,460 square feet (front nearly 2,000; back approx. 1,500)
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
$27,312
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
7.59%
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%
$546,240
$546.2K
Cap Rate 7%
$390,171
$390.2K
Cap Rate 9%
$303,467
$303.5K
Market Conditions
NOI Build-Up for 3,460 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
$54.0K $15.60/SF
− Vacancy
−$4.3K −$1.25/SF
EGI
$49.7K $14.35/SF
− OpEx
−$22.3K −$6.46/SF
NOI
$27.3K $7.89/SF
Area
Jasper County, MO
Vacancy
8.00%
Lease Rate
$15.60 /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%
$546,240
Cap Rate 7%
$390,171
Cap Rate 9%
$303,467
Alternative Uses
Best Use
Apartment 5plus
$390.2K
$341.4K – $455.2K
NOI $27,312 @ 7.0% cap · market cap 7.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$913.4K – $1.22M
NOI $73,075 @ 7.0% cap · market cap 20.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
Explore this area
Business Placement
Demographics for 64836, MO
25,334
Population
10,241
Households
2.5
Avg Household Size
37
Median Age
24%
College-Educated
82%
High-School Grad
184.1 sq mi
ZIP Area
138
Density / Sq Mi
$58,775
Median Household Income
$35,311
Median Earnings
$883
Median Rent
$157,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Two freestanding three-bedroom, two-bath homes with easy highway access on nearly two acres outside city limits.
Where is this multifamily property located?
The property is located at 1622 &1624 W Fairview Ave Carthage, MO.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Two freestanding homes, each with three bedrooms and two bathrooms; 1.96‑acre lot with easy highway access outside city limits; Combined living area of 3,460 square feet (front nearly 2,000; back approx. 1,500)
