Updated
For Sale
$249,900
3-5 Henderson, Cape Girardeau, MO 63701
Residential Income, Cape Girardeau, MO
Property Size2,016 SF
Lot Size0.26 Acres
Price / SF$123.96
Days on Market41
Property Features for 3-5 Henderson
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking
2
Basement
Unfinished
Appliances
Free-Standing Electric Oven, Refrigerator
Elementary school
Franklin Elem.
Middle school
Central Jr. High
High school
Central High
Elementary school district
Cape Girardeau 63
Middle school district
Cape Girardeau 63
High school district
Cape Girardeau 63
Standard status
Active
APN
21-106-00-20-01200-000
Size
2,016 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
511
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1946
Building materials
Brick
Architectural style
Cottage
Listing Agency:
Main Key Realty, LLC
(573) 283-3334
Listed By:
Elizabeth McFerron · License #1999116890
(314) 753-8111
Added: Jul 29
Changed: Aug 19
Last Checked: Sep 7 at 1:06PM
MLS# 26048431
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.
Investment Insights
Based on property information with market context.
This duplex contains two residential units within a 2,016-square-foot brick building constructed in 1946. Each side has three bedrooms, a living room, dining area, kitchen, and one full bathroom. Both units have been updated, and the property includes a basement, forced-air heating, central air, free-standing electric ovens, and refrigerators.
Located at 3-5 Henderson in Cape Girardeau, the property occupies 0.26 acres and has public water service. Parking access is already available, with the potential to open the access more directly. Cable service is available at the property.
Located at 3-5 Henderson in Cape Girardeau, the property occupies 0.26 acres and has public water service. Parking access is already available, with the potential to open the access more directly. Cable service is available at the property.
Key Highlights
- Two updated residential units, each with 3 bedrooms and 1 full bathroom
- 2,016‑square‑foot brick duplex on 0.26 acres
- Living room, dining area, kitchen, and basement in each unit
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
$16,124
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
6.45%
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%
$322,480
$322.5K
Cap Rate 7%
$230,343
$230.3K
Cap Rate 9%
$179,156
$179.2K
Market Conditions
NOI Build-Up for 2,016 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
$24.7K $12.24/SF
− Vacancy
−$1.6K −$0.81/SF
EGI
$23.0K $11.43/SF
− OpEx
−$6.9K −$3.43/SF
NOI
$16.1K $8.00/SF
Area
Cape Girardeau County, MO
Vacancy
6.65%
Lease Rate
$12.24 /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%
$322,480
Cap Rate 7%
$230,343
Cap Rate 9%
$179,156
Alternative Uses
Best Use
Multifamily LT 5
$230.3K
$201.6K – $268.7K
NOI $16,124 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$212.1K
$185.6K – $247.5K
NOI $14,849 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$636.0K
$556.5K – $742.0K
NOI $44,521 @ 7.0% cap · market cap 17.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
967
Businesses Nearby
Explore this area
Business Placement
Demographics for 63701, MO
39,246
Population
17,834
Households
2.2
Avg Household Size
35
Median Age
39%
College-Educated
94%
High-School Grad
132.7 sq mi
ZIP Area
296
Density / Sq Mi
$67,904
Median Household Income
$32,655
Median Earnings
$863
Median Rent
$209,600
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 updated residential units with separate living areas and access to parking.
Where is this duplex located?
The property is located at 3-5 Henderson Cape Girardeau, MO.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two updated residential units, each with 3 bedrooms and 1 full bathroom; 2,016‑square‑foot brick duplex on 0.26 acres; Living room, dining area, kitchen, and basement in each unit
