Remodeled Duplex on Corner
For Sale
$238,800
Pending
1753-1755 S Montebello Avenue, Springfield, MO 65807
Residential Income, Springfield, MO
Property Size1,590 SF
Lot Size0.24 Acres
Days on Market33
Property Features for 1753-1755 S Montebello Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Residential
Bedrooms
4
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 4, Bedroom 3
Parking features
On Street
Interior features
Utility Room, Washer/Dryer Hookup
Appliances
Range
Subdivision
Wedgewood
View
City
Elementary school
SGF-Sunshine
Middle school
SGF-Jarrett
High school
SGF-Parkview
Directions
From Campbell, Turn West on University, duplex is on the NW corner of University and Montebello
Standard status
Pending
APN
1326406008
Size
1,590 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WEDGEWOOD HGTS LOT 8 BLK G
Tax Annual Amount
1111
Legal Description
WEDGEWOOD HGTS LOT 8 BLK G
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1954
Number of units
2
Building materials
Brick, Vinyl Siding
Roof type
Composition
Listing Agency:
Murney Associates - Primrose
(417) 823-2300
Listed By:
Brooke Evans · License #2018038803
(417) 844-6363
Added: Jul 27
Changed: Aug 19
Last Checked: Aug 28 at 6:06AM
MLS# 60329865
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.
Located at 1753-1755 S Montebello Avenue, this remodeled duplex contains two separate units within 1,590 square feet. The property offers a practical configuration for multifamily occupancy, with a clean updated interior and exterior presentation. Interior features include a utility room and washer/dryer hookups, while each unit is equipped with a range. Central heating and central air provide year-round climate control.
The 0.24-acre corner lot sits near Bass Pro Shops in Springfield, with shopping, dining, entertainment, and access to major routes identified nearby. Parking features include on-street parking, and the property also includes a carport on the west corner of the lot. Brick and vinyl siding, a composition roof, and public sewer complete the primary property details.
The 0.24-acre corner lot sits near Bass Pro Shops in Springfield, with shopping, dining, entertainment, and access to major routes identified nearby. Parking features include on-street parking, and the property also includes a carport on the west corner of the lot. Brick and vinyl siding, a composition roof, and public sewer complete the primary property details.
Key Highlights
- Remodeled duplex with two separate units
- 1,590 square feet on a 0.24‑acre corner lot
- Located at 1753‑1755 S Montebello Avenue, Springfield, MO 65807
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
$14,412
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
6.04%
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%
$288,240
$288.2K
Cap Rate 7%
$205,886
$205.9K
Cap Rate 9%
$160,133
$160.1K
Market Conditions
NOI Build-Up for 1,590 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
$21.9K $13.80/SF
− Vacancy
−$1.4K −$0.85/SF
EGI
$20.6K $12.95/SF
− OpEx
−$6.2K −$3.88/SF
NOI
$14.4K $9.06/SF
Area
Springfield, MO
Vacancy
6.17%
Lease Rate
$13.80 /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%
$288,240
Cap Rate 7%
$205,886
Cap Rate 9%
$160,133
Alternative Uses
Best Use
Multifamily LT 5
$205.9K
$180.2K – $240.2K
NOI $14,412 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$183.6K
$160.7K – $214.2K
NOI $12,854 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$240.0K
$210.0K – $280.0K
NOI $16,799 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
Explore this area
Business Placement
Demographics for 65807, MO
55,168
Population
28,546
Households
1.9
Avg Household Size
36
Median Age
33%
College-Educated
94%
High-School Grad
21.0 sq mi
ZIP Area
2,627
Density / Sq Mi
$50,271
Median Household Income
$33,510
Median Earnings
$994
Median Rent
$174,000
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 units support owner occupancy, rental use, or a combination of both.
Where is this duplex located?
The property is located at 1753-1755 S Montebello Avenue Springfield, MO.
What is the asking price?
The asking price for this property is $238,800.
What are key features of this property?
This property features: Remodeled duplex with two separate units; 1,590 square feet on a 0.24‑acre corner lot; Located at 1753‑1755 S Montebello Avenue, Springfield, MO 65807
