Duplex with Multifamily
For Sale
$325,000
1502 N Grant Avenue, Springfield, MO 65803
Medium-density multifamily zoning allows for a seven-unit or 11-bedroom group housing project, subject to applicable guidelines.
Property Size3,553 SF
Price / SF$91.47
Days on Market256
Property Features for 1502 N Grant Avenue
General Information
Standard status
Active
Size
3,553 SF
Property subtype
Duplex
Zoning
Med Density MF
Property Condition
Severity
Major Repairs Needed
Evidence
Gutted down to the studs
Site & Location
Neighborhood
Grant Beach
Taxes and HOA fees
Annual Taxes
$495
Building Details
Building Size
3,553 SF
Year Built
1918
Listing Agency:
Krizan, Realtors
Listed By:
Jacob W Krizan
(417) 840-2757
Source:
Tolbertrealtors
Added: Feb 18
Changed: Nov 1
Last Checked: Nov 1 at 3:47PM
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 Krizan, Realtors
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Investment Insights
Based on property information with market context.
This 3,553-square-foot duplex, built in 1918, has a remodeled exterior and an interior taken back to the studs. Its medium-density multifamily zoning supports a seven-unit project or group housing with 11 bedrooms, subject to applicable zoning guidelines.
The property is near Price Cutter, Dollar General, Historic Commercial Street and Cox Hospital. The zoning designation and existing building condition are key considerations for evaluating the property’s next use.
The property is near Price Cutter, Dollar General, Historic Commercial Street and Cox Hospital. The zoning designation and existing building condition are key considerations for evaluating the property’s next use.
Key Highlights
- 3,553‑square‑foot duplex built in 1918
- Medium‑density multifamily zoning
- Zoning supports a seven‑unit project or 11‑bedroom group housing, subject to guidelines
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,722
Cap Rate
8.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$574,440
$574.4K
Cap Rate 7%
$410,314
$410.3K
Cap Rate 9%
$319,133
$319.1K
Market Conditions
NOI Build-Up for 3,553 SF
Gross rent
$55.9K $15.72/SF
− Vacancy
−$3.6K −$1.02/SF
EGI
$52.2K $14.70/SF
− OpEx
−$23.5K −$6.61/SF
NOI
$28.7K $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%
$574,440
Cap Rate 7%
$410,314
Cap Rate 9%
$319,133
Alternative Uses
Best Use
Multifamily LT 5
$460.1K
$402.6K – $536.7K
NOI $32,204 @ 7.0% cap · market cap 9.91%
Second Best
Apartment 5plus
$410.3K
$359.0K – $478.7K
NOI $28,722 @ 7.0% cap · market cap 8.84%
Theoretical Best
Office A
$536.3K
$469.2K – $625.6K
NOI $37,538 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
901
Businesses Nearby
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Business Placement
Demographics for 65803, MO
42,007
Population
19,659
Households
2.1
Avg Household Size
38
Median Age
22%
College-Educated
91%
High-School Grad
93.4 sq mi
ZIP Area
450
Density / Sq Mi
$46,539
Median Household Income
$33,537
Median Earnings
$890
Median Rent
$158,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Medium-density multifamily zoning allows for a seven-unit or 11-bedroom group housing project, subject to applicable guidelines.
Where is this duplex located?
The property is located at 1502 N Grant Avenue Springfield, MO.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 3,553‑square‑foot duplex built in 1918; Medium‑density multifamily zoning; Zoning supports a seven‑unit project or 11‑bedroom group housing, subject to guidelines
