Stacked Duplex with Private Upper
For Sale
$225,000
824 W Elm Street, Springfield, MO 65806
DUPLEX - Springfield, MO
Property Size1,636 SF
Lot Size0.18 Acres
Price / SF$137.53
Days on Market60
Property Features for 824 W Elm Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 3, Bedroom 3
Subdivision
Greene-Not in List
Elementary school
SGF-McGregor
Middle school
SGF-Study
High school
SGF-Parkview
Directions
From Kansas Expressway, head east on West Elm Street. Continue approximately 0.3 miles. Property will be on the left at 824/826 W. Elm Street.
Standard status
Active
APN
1323140001
Size
1,636 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Mc Cluers M M Add E1/2 Lot 65 Blk 18
Tax Annual Amount
731
Legal Description
Mc Cluers M M Add E1/2 Lot 65 Blk 18
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Window Unit(s)
Building Details
Year built
1912
Floors in Building
2
Listing Agency:
Block Realty
(417) 379-2855
Listed By:
King Block
(417) 379-2855
Added: Jun 24
Changed: Aug 5
Last Checked: Aug 22 at 5:06AM
MLS# 60327439
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.
Completely renovated stacked duplex offering two separate living spaces with thoughtful privacy between the main-level and upper-level layouts. The main-level unit features a 3-bedroom, 2-bath floor plan with a covered front porch and a spacious back deck. The upper-level unit offers a 1-bedroom, 1-bath apartment with its own exterior entrance, full kitchen, comfortable living area, and a private staircase.
Renovations include updated electrical service, plumbing, structural improvements, remodeled kitchens and bathrooms, new flooring, vinyl windows, updated appliances, and exterior improvements, including a rebuilt rear deck. Central heating is provided, with central air and window unit(s) for cooling, and the property is served by public sewer.
Built in 1912, the duplex sits on a 0.18-acre lot and is located minutes from downtown Springfield and major area schools, including Missouri State University, Drury University, and Ozarks Technical Community College, along with shopping, dining, and parks. The main-level unit is currently tenant occupied; please allow a minimum of 24 hours' notice for all showings.
Renovations include updated electrical service, plumbing, structural improvements, remodeled kitchens and bathrooms, new flooring, vinyl windows, updated appliances, and exterior improvements, including a rebuilt rear deck. Central heating is provided, with central air and window unit(s) for cooling, and the property is served by public sewer.
Built in 1912, the duplex sits on a 0.18-acre lot and is located minutes from downtown Springfield and major area schools, including Missouri State University, Drury University, and Ozarks Technical Community College, along with shopping, dining, and parks. The main-level unit is currently tenant occupied; please allow a minimum of 24 hours' notice for all showings.
Key Highlights
- Completely renovated stacked duplex with two separate living spaces
- Main‑level unit: 3‑bedroom, 2‑bath with covered front porch and spacious back deck
- Upper‑level unit: 1‑bedroom, 1‑bath with its own exterior entrance and private staircase
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
$14,829
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
6.59%
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%
$296,580
$296.6K
Cap Rate 7%
$211,843
$211.8K
Cap Rate 9%
$164,767
$164.8K
Market Conditions
NOI Build-Up for 1,636 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
$22.6K $13.80/SF
− Vacancy
−$1.4K −$0.85/SF
EGI
$21.2K $12.95/SF
− OpEx
−$6.4K −$3.88/SF
NOI
$14.8K $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%
$296,580
Cap Rate 7%
$211,843
Cap Rate 9%
$164,767
Alternative Uses
Best Use
Multifamily LT 5
$211.8K
$185.4K – $247.2K
NOI $14,829 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$188.9K
$165.3K – $220.4K
NOI $13,225 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$246.9K
$216.1K – $288.1K
NOI $17,285 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,511
Businesses Nearby
Explore this area
Business Placement
Demographics for 65806, MO
12,529
Population
8,049
Households
1.6
Avg Household Size
27
Median Age
22%
College-Educated
87%
High-School Grad
2.1 sq mi
ZIP Area
5,966
Density / Sq Mi
$28,450
Median Household Income
$21,090
Median Earnings
$840
Median Rent
$85,700
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 - Completely renovated stacked duplex on a 0.18-acre lot with a tenant-occupied 3-bed unit and private 1-bed upper unit.
Where is this duplex located?
The property is located at 824 W Elm Street Springfield, MO.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Completely renovated stacked duplex with two separate living spaces; Main‑level unit: 3‑bedroom, 2‑bath with covered front porch and spacious back deck; Upper‑level unit: 1‑bedroom, 1‑bath with its own exterior entrance and private staircase
