Duplex with Attached
New
For Sale
$175,000
Pending
1120-1122 S Connecticut Avenue, Joplin, MO 64801
MultiFamily, Joplin, MO
Property Size1,960 SF
Lot Size0.16 Acres
Days on Market3
Property Features for 1120-1122 S Connecticut Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 3, Bedroom 1, Bathroom 2, Bedroom 2
Fencing
Privacy
Elementary school
Eastmorland
Middle school
East
Elementary school district
Joplin
Middle school district
Joplin
High school district
Joplin
Directions
From the intersection of S Campbell Parkway and Connecticut go N on Connecticut to duplex on the west side of the Road
Subdivision
04 - Joplin City - SE
Standard status
Pending
Size
1,960 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
975
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Amenities
privacy fence
Building Details
Year built
1986
Floors in Building
2
Number of units
2
Flooring type
Laminate
Roof type
Composition
Architectural style
Other
Listing Agency:
REALPRO
(417) 358-4441
Listed By:
Melissa Sharples · License #2025013838
(417) 793-0713
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 10 at 12:06PM
MLS# 265020
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.
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each configured with 2 bedrooms and 1.5 baths. The property provides 1,960 square feet on a 0.16-acre lot, with attached garages and privacy fencing serving the units. Interior finishes include laminate flooring, while central air conditioning and electric central heating support year-round comfort.
Constructed in 1986, the building has a composition roof and a three-bathroom, four-bedroom configuration overall. Its address is 1120-1122 S Connecticut Avenue in Joplin, Missouri, within ZIP Code 64801.
Constructed in 1986, the building has a composition roof and a three-bathroom, four-bedroom configuration overall. Its address is 1120-1122 S Connecticut Avenue in Joplin, Missouri, within ZIP Code 64801.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1.5 baths per unit
- 1,960 square feet on a 0.16‑acre lot
- Attached garages included
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
$15,471
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
8.84%
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%
$309,420
$309.4K
Cap Rate 7%
$221,014
$221.0K
Cap Rate 9%
$171,900
$171.9K
Market Conditions
NOI Build-Up for 1,960 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
$30.6K $15.60/SF
− Vacancy
−$2.4K −$1.25/SF
EGI
$28.1K $14.35/SF
− OpEx
−$12.7K −$6.46/SF
NOI
$15.5K $7.89/SF
Area
Jasper County, MO
Vacancy
8.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$309,420
Cap Rate 7%
$221,014
Cap Rate 9%
$171,900
Alternative Uses
Best Use
Multifamily LT 5
$239.1K
$209.2K – $278.9K
NOI $16,734 @ 7.0% cap · market cap 9.56%
Second Best
Apartment 5plus
$221.0K
$193.4K – $257.9K
NOI $15,471 @ 7.0% cap · market cap 8.84%
Theoretical Best
Office A
$591.4K
$517.4K – $689.9K
NOI $41,395 @ 7.0% cap · market cap 23.65%
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
588
Businesses Nearby
Explore this area
Business Placement
Demographics for 64801, MO
35,234
Population
17,460
Households
2
Avg Household Size
37
Median Age
26%
College-Educated
90%
High-School Grad
57.5 sq mi
ZIP Area
613
Density / Sq Mi
$51,360
Median Household Income
$31,103
Median Earnings
$884
Median Rent
$176,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units offer practical layouts with private outdoor separation and attached garage access.
Where is this duplex located?
The property is located at 1120-1122 S Connecticut Avenue Joplin, MO.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1.5 baths per unit; 1,960 square feet on a 0.16‑acre lot; Attached garages included
