21-Unit Apartment
New
For Sale
$1,375,000
Pending
1448 N Benton Ave, Springfield, MO 65802
One- and two-bedroom apartments are near Cox College, Cox North Hospital, Drury University, and downtown Springfield.
Property Size15,258 SF
Days on Market6
Property Features for 1448 N Benton Ave
General Information
Standard status
Pending
Size
15,258 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
21
Taxes and HOA fees
Annual Taxes
$5,981
Listing Agency:
AMAX Real Estate
(417) 855-2333
Listed By:
Jennifer Jackson · License #2025028715
(417) 861-2279
Source:
Exprealty
Added: Oct 14
Changed: Oct 19
Last Checked: Oct 19 at 2:24PM
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 AMAX Real Estate
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Investment Insights
Based on property information with market context.
The Oaks Apartments is a 21-unit apartment property with a mix of one- and two-bedroom homes. Many residents have remained in place over the long term, and the property has low vacancy.
The Springfield location is near Cox College, Cox North Hospital, Drury University, and downtown. Public transportation is also nearby, connecting residents with employment, education, healthcare, and city amenities.
The Springfield location is near Cox College, Cox North Hospital, Drury University, and downtown. Public transportation is also nearby, connecting residents with employment, education, healthcare, and city amenities.
Key Highlights
- 21 apartment units
- Mix of one- and two‑bedroom apartments
- Low vacancy and many long‑term residents
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$123,346
Cap Rate
8.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,466,920
$2.5M
Cap Rate 7%
$1,762,086
$1.8M
Cap Rate 9%
$1,370,511
$1.4M
Market Conditions
NOI Build-Up for 15,258 SF
Gross rent
$239.9K $15.72/SF
− Vacancy
−$15.6K −$1.02/SF
EGI
$224.3K $14.70/SF
− OpEx
−$100.9K −$6.61/SF
NOI
$123.3K $8.08/SF
Area
Springfield, 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%
$2,466,920
Cap Rate 7%
$1,762,086
Cap Rate 9%
$1,370,511
Alternative Uses
Best Use
Apartment 5plus
$1.76M
$1.54M – $2.06M
NOI $123,346 @ 7.0% cap · market cap 8.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.30M
$2.02M – $2.69M
NOI $161,205 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
21
Residential units
Location Intelligence
Trade Area within ½ mile
1,045
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
Frequently Asked Questions
What type of property is this?
Apartment building - One- and two-bedroom apartments are near Cox College, Cox North Hospital, Drury University, and downtown Springfield.
Where is this apartment building located?
The property is located at 1448 N Benton Ave Springfield, MO.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: 21 apartment units; Mix of one- and two‑bedroom apartments; Low vacancy and many long‑term residents
