Building Details

Year Built 1870

Buildings 1

Construction Gothic Revival

Listing Agency: Keller Williams Local j***@kw.com Show Phone

Listed By: Mary Ritter · License #2025042619 Show Phone

Source: Onefiverealestate

Added: Oct 15 Changed: Nov 5 Last Checked: Nov 5 at 1:52PM

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Investment Insights

Based on property information with market context.

Built in 1870, this Gothic Revival church is now configured as a residence with approximately 2,300 square feet of open living space. The layout includes three bedrooms, two bathrooms, and a combined kitchen and living room. Hardwood flooring remains, while heating and air conditioning, plumbing, water lines, and electrical systems have been updated. The property occupies a double lot and has commercial or residential zoning.

The property is in Fair Play, approximately 5 miles from Stockton Lake and an 8-minute drive from Bolivar. It is within the Fair Play school district, which serves students from kindergarten through high school.

Key Highlights

• 1870 Gothic Revival church on a double lot
• Approximately 2,300 square feet of open living space
• Three bedrooms and two bathrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,593

Cap Rate

5.72%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$371,860 $371.9K

Cap Rate 7%

$265,614 $265.6K

Cap Rate 9%

$206,589 $206.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,300 SF

Gross rent

$36.2K $15.72/SF

− Vacancy

−$2.4K −$1.02/SF

EGI

$33.8K $14.70/SF

− OpEx

−$15.2K −$6.61/SF

NOI

$18.6K $8.08/SF

Area

Polk County, MO

Vacancy

6.50%

Lease Rate

$15.72 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$371,860

Cap Rate 7%

$265,614

Cap Rate 9%

$206,589

Alternative Uses

Best Use

Apartment 5plus

$265.6K

$232.4K – $309.9K (±1% cap)

NOI $18,593 @ 7.0% cap · market cap 5.72%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$347.1K

$303.8K – $405.0K (±1% cap)

NOI $24,300 @ 7.0% cap · market cap 7.48%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Short term rental ...

Suggested Use

Top Pick HVAC Service Building Supply Auto Repair Shop Furniture & Home Goods Grocery & Convenience Store Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

54

Businesses Nearby

Explore this area Business Placement

Demographics for 65649, MO

1,649

Population

1,054

Households

1.6

Avg Household Size

47

Median Age

17%

College-Educated

92%

High-School Grad

67.1 sq mi

ZIP Area

25

Density / Sq Mi

$43,803

Median Household Income

$29,531

Median Earnings

$937

Median Rent

$285,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Short term rental property - Updated systems and a three-bedroom layout support residential occupancy, with commercial or residential zoning.

Where is this short term rental property located?

The property is located at 101 Shelton Street Fair Play, MO.

What is the asking price?

The asking price for this property is $325,000.

What are key features of this property?

This property features: 1870 Gothic Revival church on a double lot; Approximately 2,300 square feet of open living space; Three bedrooms and two bathrooms