Corner Duplex Investment
For Sale
$555,000
1009 S Kansas Ave, Springfield, MO 65807
Two neighboring parcels offer fully occupied brick duplex units with updated interiors and appliances.
Property Size3,300 SF
Days on Market74
Property Features for 1009 S Kansas Ave
General Information
Standard status
Active
Size
3,300 SF
Property subtype
Multifamily
Occupancy
100%
Additional Details
Cap Rate
8.2%
Multifamily Units
4
Building Details
Building Size
3,300 SF
Year Built
1985
Construction
brick
Tenancy
Multi
Listing Agency:
SVN | Rankin Company, LLC
Listed By:
Jack Rankin · License #2018038830
(417) 860-9951
Source:
Svn
Added: Jun 24
Changed: Sep 4
Last Checked: Sep 4 at 5:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN | Rankin Company, LLC
Investment Insights
Based on property information with market context.
This for-sale multifamily investment includes four two-bedroom, one-bath duplex units across two neighboring parcels. The property features all-brick exterior construction, and the units have newer flooring, appliances, and paint. All units are fully occupied.
The duplexes are located on the corner of Kansas and Grand at 1009 & 1015 S Kansas Ave in Springfield, Missouri. This corner positioning places the buildings at an intersection.
The offering is structured as a 2-parcel, 4-unit duplex configuration, with each unit maintaining a consistent two-bedroom, one-bath layout.
The duplexes are located on the corner of Kansas and Grand at 1009 & 1015 S Kansas Ave in Springfield, Missouri. This corner positioning places the buildings at an intersection.
The offering is structured as a 2-parcel, 4-unit duplex configuration, with each unit maintaining a consistent two-bedroom, one-bath layout.
Key Highlights
- Four two‑bedroom, one‑bath duplex units on two neighboring parcels at 1009 & 1015 S Kansas Ave, Springfield, MO
- All units are fully occupied
- All‑brick exterior duplex building
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
$29,911
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
5.39%
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%
$598,220
$598.2K
Cap Rate 7%
$427,300
$427.3K
Cap Rate 9%
$332,344
$332.3K
Market Conditions
NOI Build-Up for 3,300 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
$45.5K $13.80/SF
− Vacancy
−$2.8K −$0.85/SF
EGI
$42.7K $12.95/SF
− OpEx
−$12.8K −$3.88/SF
NOI
$29.9K $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%
$598,220
Cap Rate 7%
$427,300
Cap Rate 9%
$332,344
Alternative Uses
Best Use
Multifamily LT 5
$427.3K
$373.9K – $498.5K
NOI $29,911 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$381.1K
$333.5K – $444.6K
NOI $26,677 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$498.1K
$435.8K – $581.1K
NOI $34,865 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
Explore this area
Business Placement
Demographics for 65807, MO
55,168
Population
28,546
Households
1.9
Avg Household Size
36
Median Age
33%
College-Educated
94%
High-School Grad
21.0 sq mi
ZIP Area
2,627
Density / Sq Mi
$50,271
Median Household Income
$33,510
Median Earnings
$994
Median Rent
$174,000
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 - Two neighboring parcels offer fully occupied brick duplex units with updated interiors and appliances.
Where is this quadplex located?
The property is located at 1009 S Kansas Ave Springfield, MO.
What is the asking price?
The asking price for this property is $555,000.
What are key features of this property?
This property features: Four two‑bedroom, one‑bath duplex units on two neighboring parcels at 1009 & 1015 S Kansas Ave, Springfield, MO; All units are fully occupied; All‑brick exterior duplex building
