Duplex with Vacant Remodeled
For Sale
$275,000
3274 N State Highway Ab, Springfield, MO 65803
MULTI_FAMILY - Springfield, MO
Property Size2,167 SF
Lot Size4.80 Acres
Price / SF$126.90
Days on Market47
Property Features for 3274 N State Highway Ab
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
A-1
Bedrooms
4
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 2
Interior features
Apply To All Units, Washer/Dryer Hookup, Utility Room, Fenced Area, Storage
Fencing
Fenced
Appliances
Range, Refrigerator, Microwave
Elementary school
WD Central
Middle school
Willard
High school
Willard
Directions
From West Chestnut Expressway: North on Hwy AB 3.2 miles to home on the right. Please park in the 3276 (north side)
Standard status
Active
APN
1403100163
Size
2,167 SF
Lot size
4.80 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
4.8A M/L BEG 161.16 FT E NW COR LOT 3 NEFR1/4 E 297.47 FT S 646.03 FT W 399.84 FT N 159.98 FT E 106.89 FT N 487.89 FT TO BEG 3/29/23
Tax Annual Amount
1964
Legal Description
4.8A M/L BEG 161.16 FT E NW COR LOT 3 NEFR1/4 E 297.47 FT S 646.03 FT W 399.84 FT N 159.98 FT E 106.89 FT N 487.89 FT TO BEG 3/29/23
Utilities
Utilities
Natural Gas Available
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Amenities
carport
storage shed
Building Details
Year built
1969
Number of units
2
Building materials
Brick, Block
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
AMAX Real Estate
(417) 855-2333
Listed By:
Darlana Halterman
(417) 880-0713
Added: Jul 17
Changed: Aug 3
Last Checked: Sep 1 at 3:06PM
MLS# 60329114
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.
Situated on 4.8 acres zoned A-1, this brick duplex offers a country setting while remaining convenient to Springfield. Each side features two bedrooms, one full bath, a two-car carport, and an attached storage shed. One unit has been completely remodeled and is currently vacant, providing a ready-to-move-in option for an owner-occupant or a new tenant.
The second unit is occupied by a long-term tenant of over 20 years, offering immediate, stable rental income. The home was built in 1969 and includes central heating and central air, ceiling fans, and a fenced area. Interior conveniences include a utility room, washer/dryer hookup, and storage. Appliances include a range, refrigerator, and microwave.
Additional property highlights include a one-year-old roof and natural gas availability, along with ample open acreage that supports flexible use and room to grow.
The second unit is occupied by a long-term tenant of over 20 years, offering immediate, stable rental income. The home was built in 1969 and includes central heating and central air, ceiling fans, and a fenced area. Interior conveniences include a utility room, washer/dryer hookup, and storage. Appliances include a range, refrigerator, and microwave.
Additional property highlights include a one-year-old roof and natural gas availability, along with ample open acreage that supports flexible use and room to grow.
Key Highlights
- 4.8‑acre A‑1 zoned property
- Duplex layout: two bedrooms and one full bath per side
- Two‑car carport and attached storage shed for 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
$19,642
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
7.14%
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%
$392,840
$392.8K
Cap Rate 7%
$280,600
$280.6K
Cap Rate 9%
$218,244
$218.2K
Market Conditions
NOI Build-Up for 2,167 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
$29.9K $13.80/SF
− Vacancy
−$1.8K −$0.85/SF
EGI
$28.1K $12.95/SF
− OpEx
−$8.4K −$3.88/SF
NOI
$19.6K $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%
$392,840
Cap Rate 7%
$280,600
Cap Rate 9%
$218,244
Alternative Uses
Best Use
Multifamily LT 5
$280.6K
$245.5K – $327.4K
NOI $19,642 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$250.3K
$219.0K – $292.0K
NOI $17,518 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$327.1K
$286.2K – $381.6K
NOI $22,895 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
50%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 65803, MO
42,007
Population
19,659
Households
2.1
Avg Household Size
38
Median Age
22%
College-Educated
91%
High-School Grad
93.4 sq mi
ZIP Area
450
Density / Sq Mi
$46,539
Median Household Income
$33,537
Median Earnings
$890
Median Rent
$158,200
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?
Duplex - A-1 zoned duplex with one remodeled, vacant side and one long-term occupied unit for steady rental stability.
Where is this duplex located?
The property is located at 3274 N State Highway Ab Springfield, MO.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 4.8‑acre A‑1 zoned property; Duplex layout: two bedrooms and one full bath per side; Two‑car carport and attached storage shed for each unit
