Duplex in a Gated
For Sale
$589,000
176/190 Stepping Stone Way, Cape Girardeau, MO 63701
Both residences are leased; tenants cover utilities, while the owner maintains the lawn.
Property Size3,420 SF
Price / SF$172.22
Days on Market13
Property Features for 176/190 Stepping Stone Way
General Information
Standard status
Active
Size
3,420 SF
Total Parking Spaces
2
Property subtype
Residential Income
Occupancy
100%
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,032
Amenities
gated community
common ground
patios
Building Details
Building Size
3,420 SF
Year Built
2006
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Elevate RE
(573) 382-2585
Listed By:
Kelly Gray
(440) 417-8489
Source:
Finehomesbydawn
Added: Oct 13
Changed: Oct 23
Last Checked: Oct 23 at 1:18PM
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 Elevate RE
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,420-square-foot duplex in Cape Girardeau was built in 2006 and has a new roof installed in 2024. Both units are occupied, with one tenant in place for 10 years and the other for 2.5 years; leases have recently been renewed. Interior features include hardwood floors, open floor plans, stainless steel appliances, and patios. One unit has updated quartz kitchen countertops. Primary suites include walk-in closets, dual vanities, and jetted tubs. Garage parking with storage is also part of the property.
The duplex is within the gated Whispering Oaks community, which includes a park and association management. The property is associated with Jackson Schools. Tenants pay all utilities, and the owner covers lawn care.
The duplex is within the gated Whispering Oaks community, which includes a park and association management. The property is associated with Jackson Schools. Tenants pay all utilities, and the owner covers lawn care.
Key Highlights
- 3,420‑square‑foot duplex built in 2006
- New roof installed in 2024
- Both units occupied; tenant tenures are 10 years and 2.5 years, with leases recently renewed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,354
Cap Rate
4.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$547,080
$547.1K
Cap Rate 7%
$390,771
$390.8K
Cap Rate 9%
$303,933
$303.9K
Market Conditions
NOI Build-Up for 3,420 SF
Gross rent
$41.9K $12.24/SF
− Vacancy
−$2.8K −$0.81/SF
EGI
$39.1K $11.43/SF
− OpEx
−$11.7K −$3.43/SF
NOI
$27.4K $8.00/SF
Area
Cape Girardeau County, MO
Vacancy
6.65%
Lease Rate
$12.24 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$547,080
Cap Rate 7%
$390,771
Cap Rate 9%
$303,933
Alternative Uses
Best Use
Multifamily LT 5
$390.8K
$341.9K – $455.9K
NOI $27,354 @ 7.0% cap · market cap 4.64%
Second Best
Apartment 5plus
$359.9K
$314.9K – $419.8K
NOI $25,190 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$1.08M
$944.1K – $1.26M
NOI $75,526 @ 7.0% cap · market cap 12.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Explore this area
Business Placement
Demographics for 63701, MO
39,246
Population
17,834
Households
2.2
Avg Household Size
35
Median Age
39%
College-Educated
94%
High-School Grad
132.7 sq mi
ZIP Area
296
Density / Sq Mi
$67,904
Median Household Income
$32,655
Median Earnings
$863
Median Rent
$209,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased; tenants cover utilities, while the owner maintains the lawn.
Where is this duplex located?
The property is located at 176/190 Stepping Stone Way Cape Girardeau, MO.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: 3,420‑square‑foot duplex built in 2006; New roof installed in 2024; Both units occupied; tenant tenures are 10 years and 2.5 years, with leases recently renewed
