New-Construction Three-Bedroom
For Sale
$224,900
Mill Street, Buffalo, MO 65622
Residential, Buffalo, MO
Property Size2,014 SF
Lot Size0.58 Acres
Price / SF$111.67
Days on Market213
Property Features for Mill Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Bathroom 2
Patio and Porch features
Patio
Interior features
Granite Counters
Appliances
Refrigerator
Subdivision
Dallas-Not in List
Elementary school
Buffalo
Middle school
Buffalo
High school
Buffalo
Directions
north on 65 turn left onto mill street. the property is located on the left hand side 1 mile on mill street
Standard status
Active
APN
098027001002001130
Size
2,014 SF
Lot size
0.58 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Amenities
private back patio
Building Details
Year built
2025
Floors in Building
1
Flooring type
Carpet, Laminate
Building materials
Vinyl Siding
Listing Agency:
Main Street Realty
(417) 345-4366
Listed By:
Alexandra D Kueck · License #2024006254
(417) 766-3733
Added: Feb 24
Changed: Sep 13
Last Checked: Sep 25 at 4:06PM
MLS# 60316085
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.
This duplex is under construction with a 2025 year built and 2,014 square feet of interior space. The layout includes three bedrooms, two bathrooms, living and dining areas, and a private patio. Interior details include granite counters, modern cabinetry, upgraded fixtures, laminate and carpet flooring, and a refrigerator. Vinyl siding, central heating, central air, and ceiling fans are also specified.
The property occupies 0.575 acres on Mill Street in Buffalo, Missouri, within Dallas County. Public sewer serves the property. The duplex configuration and residential layout support either owner occupancy or an income-producing use, as described in the listing information.
The property occupies 0.575 acres on Mill Street in Buffalo, Missouri, within Dallas County. Public sewer serves the property. The duplex configuration and residential layout support either owner occupancy or an income-producing use, as described in the listing information.
Key Highlights
- Duplex with 3 bedrooms and 2 bathrooms
- 2,014 square feet on 0.575 acres
- 2025 year built; property condition listed as under construction
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
$18,255
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
8.12%
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%
$365,100
$365.1K
Cap Rate 7%
$260,786
$260.8K
Cap Rate 9%
$202,833
$202.8K
Market Conditions
NOI Build-Up for 2,014 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
$27.8K $13.80/SF
− Vacancy
−$1.7K −$0.85/SF
EGI
$26.1K $12.95/SF
− OpEx
−$7.8K −$3.88/SF
NOI
$18.3K $9.06/SF
Area
Dallas County, 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%
$365,100
Cap Rate 7%
$260,786
Cap Rate 9%
$202,833
Alternative Uses
Best Use
Multifamily LT 5
$260.8K
$228.2K – $304.3K
NOI $18,255 @ 7.0% cap · market cap 8.12%
Second Best
Apartment 5plus
$232.6K
$203.5K – $271.4K
NOI $16,281 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$304.0K
$266.0K – $354.6K
NOI $21,278 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
Explore this area
Business Placement
Demographics for 65622, MO
8,461
Population
3,517
Households
2.4
Avg Household Size
42
Median Age
19%
College-Educated
91%
High-School Grad
151.4 sq mi
ZIP Area
56
Density / Sq Mi
$44,231
Median Household Income
$38,426
Median Earnings
$659
Median Rent
$143,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Under construction with granite counters, central heating, and central air.
Where is this duplex located?
The property is located at Mill Street Buffalo, MO.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Duplex with 3 bedrooms and 2 bathrooms; 2,014 square feet on 0.575 acres; 2025 year built; property condition listed as under construction
