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    815-837 W 4th Street Joplin, MO 64801

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    For Sale
    $1,585,000

    MULTI_FAMILY - Joplin, MO

    Type:Apartment
    Property size:
    14,088 SF
    Lot size:
    0.40 Acres
    Price / SF:
    $112/SF
    Added:
    Oct 15, 2025
    Days on Market:
    198
    Last Refresh:
    Apr 30 at 3:06 am

    Property Features for 815-837 W 4th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Zoning
    R-3
    Bedrooms
    24
    Bathrooms
    24
    Rooms
    Bedroom 11, Bathroom 5, Bathroom 2, Bedroom 17, Bathroom 17, Bathroom 18, Bathroom 3, Bathroom 4, Bathroom 19, Bedroom 23, Bathroom 22, Bathroom 1, Bedroom 4, Bedroom 8, Bedroom 19, Bedroom 20, Bedroom 6, Bedroom 7, Bedroom 16, Bathroom 7, Bedroom 2, Bathroom 6, Bathroom 24, Bathroom 21, Bedroom 5, Bathroom 16, Bedroom 9, Bedroom 15, Bedroom 18, Bathroom 9, Bathroom 13, Bathroom 10, Bedroom 10, Bathroom 23, Bathroom 15, Bathroom 12, Bathroom 11, Bedroom 1, Bathroom 8, Bedroom 21, Bedroom 12, Bedroom 22, Bathroom 20, Bedroom 3, Bedroom 14, Bedroom 24, Bedroom 13, Bathroom 14
    Standard status
    Active
    APN
    33-006608-0000
    Size
    14,088 SF
    Lot size
    0.40 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2759

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air, Window Unit(s)

    Building Details

    Year built
    1910
    Floors in Building
    2
    Number of units
    24
    Flooring type
    Carpet, Wood, Vinyl
    Roof type
    Rolled Hot Mop

    We can help!

    Listing Contact
    Luke Gibson
    Luke Gibson

    Listing agent Luke Gibson License #2015033987

    Listing office GLENN GIBSON COMMERCIAL REAL ESTATE 2650 E 32nd Street Ste. 221, JOPLIN, MO

    Listing date Oct 15, 2025

    MLS# 255819 Listing URL

    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.

    Overview

    Multifamily Complex Near Downtown Joplin

    This multifamily complex features three buildings with a total of 24 units. Each unit contains one bedroom and one bathroom. The property is centrally located near Downtown Joplin, providing access to major employers, shopping, dining, and entertainment. The buildings are designed for efficient management and resident comfort. The units are spacious and functional, attracting long-term renters. The property has a strong rental history and consistent income stream. It is well-maintained and professionally managed. The property size is 14,088 square feet and the lot size is 0.4 acres. The zoning is R-3.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Joplin
    County
    Jasper
    State
    Missouri
    Longitude
    -94.522176
    Latitude
    37.088138

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    FAQs

    What type of property is this?
    Apartment building - Three-building multifamily complex with 24 units near downtown Joplin.
    Where is this apartment building located?
    The property is located at 815-837 W 4th Street Joplin, MO.
    What is the asking price?
    The asking price for this property is $1,585,000.
    What are key features of this property?
    This property features: Turnkey investment with dependable cash flow and minimal vacancy.; Three‑building multifamily complex with 24 well‑maintained 1‑bedroom, 1‑bath units.; Centrally located near Downtown Joplin, offering exceptional access to major employers, shopping, dining, and entertainment.
    (417) 359-6868
    We can help!
    Listing Contact
    Luke Gibson
    Luke Gibson
    Real Estate License ID: 2015033987
    Learn More
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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.

    More about this property
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