21-Unit Apartment
New
For Sale
$1,375,000
1448 N Benton Avenue, Springfield, MO 65802
Residential Income, Springfield, MO
Property Size15,258 SF
Lot Size0.64 Acres
Price / SF$90.12
Days on Market2
Property Features for 1448 N Benton Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-MD
Bedrooms
31
Rooms
Bedroom 2, Bedroom 8, Bedroom 17, Bedroom 28, Bedroom 5, Bedroom 23, Bedroom 12, Bedroom 18, Bedroom 9, Bedroom 4, Bedroom 3, Bedroom 30, Bedroom 27, Bedroom 13, Bedroom 24, Bedroom 29, Bedroom 6, Bedroom 14, Bedroom 26, Bedroom 19, Bedroom 25, Bedroom 10, Bedroom 15, Bedroom 20, Bedroom 11, Bedroom 1, Bedroom 22, Bedroom 16, Bedroom 31, Bedroom 7, Bedroom 21
Appliances
Range, Disposal, Dishwasher, Refrigerator
Elementary school
SGF-Boyd
Middle school
SGF-Pipkin
High school
SGF-Central
Directions
From Chestnut Expressway, head north on N Benton Ave. Property is located in Historic Midtown, near Cox North Hospital and Drury University, on the east side of the street, just south of Division.
Standard status
Active
APN
1313202008
Size
15,258 SF
Lot size
0.64 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Beg 232 Ft S Se Cor Benton & Division Sts S 100 Ft E 280 Ft N 100 Ft W To Beg
Tax Annual Amount
5982
Legal Description
Beg 232 Ft S Se Cor Benton & Division Sts S 100 Ft E 280 Ft N 100 Ft W To Beg
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Window Unit(s)
Building Details
Year built
1963
Number of units
21
Building materials
Brick
Roof type
Flat
Listing Agency:
AMAX Real Estate
(417) 855-2333
Listed By:
Jennifer Jackson · License #2025028715
(417) 861-2279
Added: Oct 14
Last Checked: Oct 15 at 4:06AM
MLS# 60336306
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.
The 21-unit apartment property contains a mix of one- and two-bedroom homes. Built in 1963, the 15,258-square-foot building sits on 0.64 acres and has brick construction, a flat roof, central heating, and window-unit cooling. Appliances include ranges, disposals, dishwashers, and refrigerators. The property is zoned R-MD, with water available and public sewer service.
At 1448 N Benton Avenue in Springfield, the property is near Cox College, Cox North Hospital, Drury University, and downtown Springfield. Public transportation is also nearby. The unit mix and building features provide a clear overview of the existing multifamily configuration.
At 1448 N Benton Avenue in Springfield, the property is near Cox College, Cox North Hospital, Drury University, and downtown Springfield. Public transportation is also nearby. The unit mix and building features provide a clear overview of the existing multifamily configuration.
Key Highlights
- 21 apartments with one- and two‑bedroom layouts
- 15,258 square feet on 0.64 acres
- Built in 1963; brick construction and flat roof
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.
How Realmo checks its estimates
Property Analytics
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Current Use
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
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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?
Apartment building - Apartments include one- and two-bedroom layouts, central heat, and window-unit cooling.
Where is this apartment building located?
The property is located at 1448 N Benton Avenue 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 apartments with one- and two‑bedroom layouts; 15,258 square feet on 0.64 acres; Built in 1963; brick construction and flat roof
