Quadplex with Covered Front
For Sale
$280,000
829 W Pershing Street, Springfield, MO 65806
Residential Income, Springfield, MO
Property Size1,800 SF
Lot Size0.18 Acres
Price / SF$155.56
Days on Market71
Property Features for 829 W Pershing Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
INC
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Interior features
Carpet
Subdivision
McCluers MM
View
City
Elementary school
SGF-McGregor
Middle school
SGF-Westport
High school
SGF-Parkview
Directions
West on Sunshine to Grant, North to Pershing, West to property.
Standard status
Active
APN
1323128007
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MC CLUERS M M ADD W 50 FT LOT 36 BLK 8
Tax Annual Amount
957
Legal Description
MC CLUERS M M ADD W 50 FT LOT 36 BLK 8
Utilities
Sewer type
Public Sewer
Cooling system
Wall Unit(s)
Amenities
covered front porch
spacious backyard
Building Details
Year built
1925
Number of units
4
Building materials
Stone, Frame, Vinyl Siding
Roof type
Composition
Listing Agency:
Keller Williams Local · Keller Williams Realty
(417) 883-4900
Listed By:
The Property Gurus · License #2018016865
(417) 379-8963
Added: Jun 19
Changed: Aug 27
Last Checked: Aug 28 at 9:06AM
MLS# 60326765
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.
Built in 1925, this four-unit property contains four one-bedroom, one-bath apartments within approximately 1,800 square feet. The lower apartments open separately from a covered front porch, while the upstairs residences use a side entrance and stairwell. Interior features include carpet, wall-unit cooling, stone and frame construction with vinyl siding, a composition roof, and public sewer service.
The property occupies a 0.18-acre lot at 829 W Pershing Street in Springfield, Missouri, near downtown and Missouri State University. One unit is rented, two are ready for occupancy, and the remaining unit requires work before it is rent ready. The sale is offered as-is, and the property is zoned INC.
The property occupies a 0.18-acre lot at 829 W Pershing Street in Springfield, Missouri, near downtown and Missouri State University. One unit is rented, two are ready for occupancy, and the remaining unit requires work before it is rent ready. The sale is offered as-is, and the property is zoned INC.
Key Highlights
- Four 1‑bedroom, 1‑bath units totaling 1,800 square feet
- 0.18‑acre lot at 829 W Pershing Street, Springfield, MO 65806
- One unit rented; two ready to go; one needs work before it is rent ready
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
$16,315
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
5.83%
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%
$326,300
$326.3K
Cap Rate 7%
$233,071
$233.1K
Cap Rate 9%
$181,278
$181.3K
Market Conditions
NOI Build-Up for 1,800 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
$24.8K $13.80/SF
− Vacancy
−$1.5K −$0.85/SF
EGI
$23.3K $12.95/SF
− OpEx
−$7.0K −$3.88/SF
NOI
$16.3K $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%
$326,300
Cap Rate 7%
$233,071
Cap Rate 9%
$181,278
Alternative Uses
Best Use
Multifamily LT 5
$233.1K
$203.9K – $271.9K
NOI $16,315 @ 7.0% cap · market cap 5.83%
Second Best
Apartment 5plus
$207.9K
$181.9K – $242.5K
NOI $14,551 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$271.7K
$237.7K – $317.0K
NOI $19,018 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
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?
Quadplex - Four one-bedroom units feature separate lower and upper access, with one rented and additional units in varying readiness.
Where is this quadplex located?
The property is located at 829 W Pershing Street Springfield, MO.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Four 1‑bedroom, 1‑bath units totaling 1,800 square feet; 0.18‑acre lot at 829 W Pershing Street, Springfield, MO 65806; One unit rented; two ready to go; one needs work before it is rent ready
