Two-Home Duplex
For Sale
$359,900
1622 &1624 W Fairview Ave, Carthage, MO 64836
Residential Income, Carthage, MO
Property Size3,500 SF
Lot Size1.96 Acres
Price / SF$102.83
Days on Market61
Property Features for 1622 &1624 W Fairview Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
County
Bedrooms
6
Rooms
Bedroom 6, Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 4
Interior features
Carpet
Elementary school
Steadley
Middle school
Carthage
High school
Carthage
Directions
Garrison and Fairview west to home. After crossing I-49, it's the third house on the south side.
Standard status
Active
APN
14-4.0-17-000-000-007.000
Lot size
1.96 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1895
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Well
Building Details
Year built
1920
Number of units
2
Roof type
Composition
Listing Agency:
Fathom Realty MO LLC
(573) 462-6517
Listed By:
Christine Yunek
(417) 674-1514
Added: Jul 30
Changed: Sep 17
Last Checked: Sep 28 at 12:06AM
MLS# 60330222
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 duplex property includes two separate homes on a 1.96-acre parcel near Carthage. Each residence has 3 bedrooms and 2 bathrooms, with nearly 3,500 square feet of combined living area. The front home measures nearly 2,000 square feet and received extensive remodeling in January 2026, including updated paint, flooring, light fixtures, and a central heating system. It also includes large rooms, a formal dining room, vinyl siding installed in summer 2021, and a roof installed in 2018.
The rear home provides approximately 1,500 square feet with its own 3-bedroom, 2-bathroom layout. One bathroom has been remodeled, while central heating and the water heater were replaced in March 2025. Its roof was replaced in spring 2018. The property uses well water and a septic tank, with central air listed for the residences. County zoning and highway access are also noted.
The rear home provides approximately 1,500 square feet with its own 3-bedroom, 2-bathroom layout. One bathroom has been remodeled, while central heating and the water heater were replaced in March 2025. Its roof was replaced in spring 2018. The property uses well water and a septic tank, with central air listed for the residences. County zoning and highway access are also noted.
Key Highlights
- 1.96‑acre parcel with two freestanding homes
- Two 3‑bedroom, 2‑bathroom residences
- Nearly 3,500 square feet of combined living area
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
$29,882
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
8.30%
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%
$597,640
$597.6K
Cap Rate 7%
$426,886
$426.9K
Cap Rate 9%
$332,022
$332.0K
Market Conditions
NOI Build-Up for 3,500 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
$46.2K $13.20/SF
− Vacancy
−$3.5K −$1.00/SF
EGI
$42.7K $12.20/SF
− OpEx
−$12.8K −$3.66/SF
NOI
$29.9K $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%
$597,640
Cap Rate 7%
$426,886
Cap Rate 9%
$332,022
Alternative Uses
Best Use
Multifamily LT 5
$426.9K
$373.5K – $498.0K
NOI $29,882 @ 7.0% cap · market cap 8.30%
Second Best
Apartment 5plus
$394.7K
$345.4K – $460.5K
NOI $27,628 @ 7.0% cap · market cap 7.68%
Theoretical Best
Office A
$1.06M
$924.0K – $1.23M
NOI $73,920 @ 7.0% cap · market cap 20.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
33
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two detached residences on a nearly two-acre parcel provide flexible residential income and occupancy options.
Where is this duplex located?
The property is located at 1622 &1624 W Fairview Ave Carthage, MO.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: 1.96‑acre parcel with two freestanding homes; Two 3‑bedroom, 2‑bathroom residences; Nearly 3,500 square feet of combined living area
