Duplex With Two Freestanding
For Sale
$359,900
1622 &1624 W Fairview Avenue, Carthage, MO 64836
MultiFamily, Carthage, MO
Property Size3,460 SF
Lot Size1.96 Acres
Price / SF$104.02
Days on Market38
Property Features for 1622 &1624 W Fairview Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 1, Bathroom 3, Bathroom 2, Basement
Basement
Unfinished
Elementary school
Steadley
Middle school
Carthage
Elementary school district
Carthage
Middle school district
Carthage
High school district
Carthage
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
Ceiling Fan(s), Central Air
Building Details
Year built
1920
Number of units
2
Flooring type
Vinyl, Carpet, Laminate
Roof type
Composition
Architectural style
Other
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# 264231
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 property includes two freestanding homes with a combined 3,460 square feet of living area. Each residence has 3 bedrooms and 2 bathrooms, creating a total of 6 bedrooms and 4 bathrooms across the property. The front home measures nearly 2,000 square feet and received extensive remodeling in January 2026, including paint, flooring, light fixtures, and a central heating system. It also has large rooms, a formal dining room, vinyl siding installed in summer 2021, and a roof installed in 2018.
The approximately 1,500-square-foot rear home includes one remodeled bathroom, along with a central heating system and water heater installed in March 2025. Its roof was replaced in spring 2018. The property encompasses 1.96 acres on the edge of Carthage, just outside the city limits, with easy highway access. Additional features include vinyl, carpet, and laminate flooring, central air, ceiling fans, natural gas heating, and composition roofing.
The approximately 1,500-square-foot rear home includes one remodeled bathroom, along with a central heating system and water heater installed in March 2025. Its roof was replaced in spring 2018. The property encompasses 1.96 acres on the edge of Carthage, just outside the city limits, with easy highway access. Additional features include vinyl, carpet, and laminate flooring, central air, ceiling fans, natural gas heating, and composition roofing.
Key Highlights
- Two freestanding homes with 3 bedrooms and 2 bathrooms each
- Combined property size of 3,460 square feet
- Set on 1.96 acres near Carthage, just outside city limits
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
$29,541
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
8.21%
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%
$590,820
$590.8K
Cap Rate 7%
$422,014
$422.0K
Cap Rate 9%
$328,233
$328.2K
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
$45.7K $13.20/SF
− Vacancy
−$3.5K −$1.00/SF
EGI
$42.2K $12.20/SF
− OpEx
−$12.7K −$3.66/SF
NOI
$29.5K $8.54/SF
Area
Jasper County, MO
Vacancy
7.60%
Lease Rate
$13.20 /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%
$590,820
Cap Rate 7%
$422,014
Cap Rate 9%
$328,233
Alternative Uses
Best Use
Multifamily LT 5
$422.0K
$369.3K – $492.4K
NOI $29,541 @ 7.0% cap · market cap 8.21%
Second Best
Apartment 5plus
$390.2K
$341.4K – $455.2K
NOI $27,312 @ 7.0% cap · market cap 7.59%
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences support flexible living arrangements or rental use on a nearly two-acre property near Carthage.
Where is this duplex located?
The property is located at 1622 &1624 W Fairview Avenue 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 with 3 bedrooms and 2 bathrooms each; Combined property size of 3,460 square feet; Set on 1.96 acres near Carthage, just outside city limits
