2-Unit
New
For Sale
$200,000
1406 W Calhoun Street, Springfield, MO 65802
Residential Income, Springfield, MO
Property Size1,780 SF
Lot Size0.18 Acres
Price / SF$112.36
Days on Market4
Property Features for 1406 W Calhoun Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi-family
Bedrooms
4
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 4
Interior features
Apply To All Units, Washer/Dryer Hookup
Appliances
Range
Subdivision
Thomas & Frazees
Elementary school
SGF-Weaver
Middle school
SGF-Pipkin
High school
Central
Directions
Head east on W Calhoun St from N Kansas Expy. Continue east on W Calhoun St. The property at 1406 W Calhoun St will be on the right.
Standard status
Active
APN
1314232002
Size
1,780 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
THOMAS & FRAZEES ADD LOT 31
Tax Annual Amount
993
Legal Description
THOMAS & FRAZEES ADD LOT 31
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1977
Number of units
2
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
Home Sweet Home Realty & Associates, LLC
(417) 221-6466
Listed By:
Bryant Frizzell
(417) 880-9275
Added: Oct 1
Changed: Oct 4
Last Checked: Oct 4 at 4:06PM
MLS# 60335337
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 1,780-square-foot duplex contains two residences, each with two bedrooms and one bathroom. One unit is tenant-occupied; the other is vacant. The property was built in 1977 and sits on a 0.18-acre lot. Multi-family zoning is identified, and both units have washer and dryer hookups. Central heating and central air conditioning serve the building; a range is also included.
Water is available, and the property is connected to public sewer. Vinyl siding and a composition roof complete the building’s listed exterior features. The combination of an occupied unit and a vacant unit provides distinct current and available occupancy within the same property.
Water is available, and the property is connected to public sewer. Vinyl siding and a composition roof complete the building’s listed exterior features. The combination of an occupied unit and a vacant unit provides distinct current and available occupancy within the same property.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 1,780 square feet on a 0.18‑acre lot
- Built in 1977; multi‑family zoning
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
$16,134
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
8.07%
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%
$322,680
$322.7K
Cap Rate 7%
$230,486
$230.5K
Cap Rate 9%
$179,267
$179.3K
Market Conditions
NOI Build-Up for 1,780 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
$24.6K $13.80/SF
− Vacancy
−$1.5K −$0.85/SF
EGI
$23.0K $12.95/SF
− OpEx
−$6.9K −$3.88/SF
NOI
$16.1K $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%
$322,680
Cap Rate 7%
$230,486
Cap Rate 9%
$179,267
Alternative Uses
Best Use
Multifamily LT 5
$230.5K
$201.7K – $268.9K
NOI $16,134 @ 7.0% cap · market cap 8.07%
Second Best
Apartment 5plus
$205.6K
$179.9K – $239.8K
NOI $14,390 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$268.7K
$235.1K – $313.4K
NOI $18,806 @ 7.0% cap · market cap 9.40%
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
323
Businesses Nearby
Explore this area
Business Placement
Demographics for 65802, MO
48,233
Population
20,199
Households
2.4
Avg Household Size
35
Median Age
26%
College-Educated
89%
High-School Grad
61.4 sq mi
ZIP Area
786
Density / Sq Mi
$51,080
Median Household Income
$34,298
Median Earnings
$900
Median Rent
$162,400
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - One residence is tenant-occupied, while the second is vacant and available for occupancy.
Where is this duplex located?
The property is located at 1406 W Calhoun Street Springfield, MO.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; 1,780 square feet on a 0.18‑acre lot; Built in 1977; multi‑family zoning
