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    Modern Craftsman Home on 34 Acres Title is generated by Realmo AI

    24110 EVANSTON Road, Lebanon, MO 65536

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    For Sale
    $649,900

    Craftsman, Farm - Lebanon, MO

    Type:Farm
    Property size:
    2,209 SF
    Lot size:
    34.00 Acres
    Price / SF:
    $294/SF
    Added:
    Apr 2, 2026
    Days on Market:
    53
    Last Refresh:
    May 24 at 10:06 pm

    Property Features for 24110 EVANSTON Road

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Parking features
    Driveway, Garage, Garage - Attached
    Interior features
    Breakfast Bar, Breakfast Room, Ceiling Fan(s), Dining/Living Room Combo, Eat-in Kitchen, Kitchen/Dining Room Combo, Laminate Counters, Open Floorplan, Separate Shower, Workshop/Hobby Area
    Exterior features
    Fencing
    Fencing
    Fenced
    Appliances
    Cooktop, Cooktop - Electric, Dishwasher, Washer
    Standard status
    Active
    APN
    12-8.0-28-000-000-004.000
    Size
    2,209 SF
    Lot size
    34.00 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    1699

    Utilities

    Heating system
    Electric (Heating), Forced Air, Heat Pump (Heating)
    Cooling system
    Ceiling Fan(s), Central Air, Heat Pump

    Building Details

    Year built
    2025
    Building materials
    Frame, Stone, Vinyl Siding
    Architectural style
    Craftsman

    We can help!

    Listing Contact
    Becky Burk

    Listing agent Becky Burk License #1999105655

    Listing office Realty Executives of Lebanon 205 E. Commercial Street, Lebanon, MO

    Listing date Apr 2, 2026

    MLS# 26019557 Listing URL

    Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 34 Acres of Pasture Land: Ideal for various uses.
    • Massive 80 x 66 Barn with Indoor Riding Arena: Perfect for equestrian activities.
    • Totally Rebuilt and Updated Home (2025): Enjoy modern living with minimal upkeep.
    • Modern Craftsman Style with Open Floor Plan: Combines beauty and functionality.
    • 4 Bedrooms, 2 Bathrooms, 2 Car Attached Garage: Plenty of space for everyone.
    • Close to Town on Blacktop Road with Road Frontage on Two Sides: Convenient location with development potential.

    Overview

    This updated modern craftsman-style home is situated on 34 acres of pasture land near town. The property, accessible via blacktop road frontage on two sides, features a 2,209 square-foot home with four bedrooms and two bathrooms, as well as a two-car attached garage. The home has been totally rebuilt and updated with an open-style kitchen and living room combo, a large center island, new windows, siding, shingles, guttering, wiring, plumbing, drywall, trim, doors, and interior paint. The kitchen includes new cabinetry and stainless appliances. The bathrooms have been updated with new showers, toilets, sinks, vanities, fans, and lighting fixtures. The master bedroom is separate from the other bedroom area. The home has new central heat and air, and new split rail fencing. A massive 80 x 66 open arena barn provides room for machinery and equipment, plus an indoor riding arena. A large hay shed is also present.
    Property Profile Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    Lebanon
    County
    Laclede
    State
    Missouri
    Longitude
    -92.592412
    Latitude
    37.636284

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    FAQs

    What type of property is this?
    Farm - Updated four-bedroom home with barn and pasture land near town.
    Where is this farm located?
    The property is located at 24110 EVANSTON Road Lebanon, MO.
    What is the asking price?
    The asking price for this property is $649,900.
    What are key features of this property?
    This property features: 34 Acres of Pasture Land: Ideal for various uses.; Massive 80 x 66 Barn with Indoor Riding Arena: Perfect for equestrian activities.; Totally Rebuilt and Updated Home (2025): Enjoy modern living with minimal upkeep.
    (417) 588-4669
    We can help!
    Listing Contact
    Becky Burk
    Real Estate License ID: 1999105655
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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