10-Unit Duplex
New
For Sale
$1,050,000
1501-1515 Case, Carthage, MO 64836
MultiFamily, Carthage, MO
Property Size10,000 SF
Lot Size0.64 Acres
Price / SF$105
Days on Market4
Property Features for 1501-1515 Case
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
20
Bathrooms
10
Full bathrooms
10
Rooms
Bedroom 19, Bathroom 2, Bedroom 9, Bedroom 20, Bedroom 6, Bedroom 5, Bathroom 7, Bedroom 18, Bedroom 17, Bathroom 8, Bathroom 10, Bathroom 3, Bedroom 14, Bedroom 11, Bathroom 9, Bedroom 16, Bedroom 8, Bathroom 6, Bedroom 7, Bathroom 5, Bedroom 12, Bedroom 2, Bathroom 1, Bathroom 4, Bedroom 1, Bedroom 3, Bedroom 13, Bedroom 10, Bedroom 15, Bedroom 4
Basement
Crawl Space
Elementary school
Carthage
Middle school
Carthage
Elementary school district
Carthage
Middle school district
Carthage
High school district
Carthage
Directions
Carthage - from 96 (W Central Ave), South on Baker to Centennial, East to property (807-809 Centennial) Additional duplexes - Centennial to Case, North to properties.
Subdivision
09 - Carthage Area
Standard status
Active
APN
14-2.0-09-20-040-001.000
Size
10,000 SF
Lot size
0.64 Acres
Taxes and HOA fees
Tax Annual Amount
4379
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Building Details
Floors in Building
2
Number of units
10
Flooring type
Plank, Vinyl
Roof type
Composition
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY ELEVATE
(417) 623-9900
Listed By:
Shannon Chew · License #2016007886
(417) 622-1702
Added: Sep 15
Changed: Sep 16
Last Checked: Sep 18 at 8:06AM
MLS# 265289
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 residential income package combines multiple duplex buildings totaling 10 rental units across properties on Case Street and Centennial. Each residence is configured with two bedrooms and one bathroom, creating consistent layouts throughout the offering. The combined property size is 10,000 square feet on 0.64 acres.
Interior finishes include plank and vinyl flooring, while building systems include electric and central heating with central air conditioning. Composition roofs complete the improvements. The properties are located at 1501, 1503, 1505, 1507, 1509, 1511, 1513, and 1515 Case, plus 807 and 809 Centennial in Carthage, Missouri.
Interior finishes include plank and vinyl flooring, while building systems include electric and central heating with central air conditioning. Composition roofs complete the improvements. The properties are located at 1501, 1503, 1505, 1507, 1509, 1511, 1513, and 1515 Case, plus 807 and 809 Centennial in Carthage, Missouri.
Key Highlights
- 10 rental units across multiple duplex buildings
- Each unit includes 2 bedrooms and 1 bathroom
- Combined property size of 10,000 square feet
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
$85,378
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
8.13%
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%
$1,707,560
$1.7M
Cap Rate 7%
$1,219,686
$1.2M
Cap Rate 9%
$948,644
$948.6K
Market Conditions
NOI Build-Up for 10,000 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
$132.0K $13.20/SF
− Vacancy
−$10.0K −$1.00/SF
EGI
$122.0K $12.20/SF
− OpEx
−$36.6K −$3.66/SF
NOI
$85.4K $8.54/SF
Area
Jasper County, MO
Vacancy
7.60%
Lease Rate
$13.20 /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%
$1,707,560
Cap Rate 7%
$1,219,686
Cap Rate 9%
$948,644
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.42M
NOI $85,378 @ 7.0% cap · market cap 8.13%
Second Best
Apartment 5plus
$1.13M
$986.7K – $1.32M
NOI $78,936 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$3.02M
$2.64M – $3.52M
NOI $211,200 @ 7.0% cap · market cap 20.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
186
Businesses Nearby
Explore this area
Business Placement
Demographics for 64836, MO
25,334
Population
10,241
Households
2.5
Avg Household Size
37
Median Age
24%
College-Educated
82%
High-School Grad
184.1 sq mi
ZIP Area
138
Density / Sq Mi
$58,775
Median Household Income
$35,311
Median Earnings
$883
Median Rent
$157,700
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?
Duplex - Multiple rental residences offer consistent two-bedroom, one-bathroom layouts with central heating and cooling.
Where is this duplex located?
The property is located at 1501-1515 Case Carthage, MO.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 10 rental units across multiple duplex buildings; Each unit includes 2 bedrooms and 1 bathroom; Combined property size of 10,000 square feet
