3-Unit Apartment Property with
For Sale
$415,000
1860-70-80 S Pike Avenue, Bolivar, MO 65613
Multifamily property with full kitchen packages, laundry hookups, and a location near Southwest Baptist University.
Property Size3,343 SF
Price / SF$124.14
Days on Market26
Property Features for 1860-70-80 S Pike Avenue
General Information
Standard status
Active
Size
3,343 SF
Property subtype
Residential Income
Units
Unit Mix
3 x 3BR/2BA
Multifamily Units
3
Additional Details
Average Monthly Rent
$1,000
Taxes and HOA fees
Annual Taxes
$2,297
Listing Agency:
Stellar Real Estate Co.
(417) 234-7391
Listed By:
Jeremy Scowden
(417) 234-7391
Source:
Exprealty
Added: Jul 24
Changed: Aug 18
Last Checked: Aug 18 at 12:50PM
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 Stellar Real Estate Co.
Investment Insights
Based on property information with market context.
This triplex contains three residential units, each arranged with three bedrooms and two bathrooms. The property totals 3,343 square feet, and every unit includes washer and dryer hookups. Washers, dryers, and full kitchen appliance packages convey with the sale, providing established in-unit equipment for future occupancy.
Located at 1860-70-80 S Pike Avenue in Bolivar, Missouri, the property is minutes from Southwest Baptist University and other Bolivar amenities. Its three-unit configuration and consistent floor plans offer a straightforward multifamily asset with shared physical characteristics across the building.
Located at 1860-70-80 S Pike Avenue in Bolivar, Missouri, the property is minutes from Southwest Baptist University and other Bolivar amenities. Its three-unit configuration and consistent floor plans offer a straightforward multifamily asset with shared physical characteristics across the building.
Key Highlights
- Three 3‑bedroom, 2‑bathroom units
- 3,343‑square‑foot triplex
- Washers and dryers convey with the sale
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
$30,301
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
7.30%
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%
$606,020
$606.0K
Cap Rate 7%
$432,871
$432.9K
Cap Rate 9%
$336,678
$336.7K
Market Conditions
NOI Build-Up for 3,343 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
$46.1K $13.80/SF
− Vacancy
−$2.8K −$0.85/SF
EGI
$43.3K $12.95/SF
− OpEx
−$13.0K −$3.88/SF
NOI
$30.3K $9.06/SF
Area
Polk County, MO
Vacancy
6.17%
Lease Rate
$13.80 /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%
$606,020
Cap Rate 7%
$432,871
Cap Rate 9%
$336,678
Alternative Uses
Best Use
Multifamily LT 5
$432.9K
$378.8K – $505.0K
NOI $30,301 @ 7.0% cap · market cap 7.30%
Second Best
Apartment 5plus
$386.1K
$337.8K – $450.4K
NOI $27,025 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$504.6K
$441.5K – $588.7K
NOI $35,320 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
201
Businesses Nearby
Explore this area
Business Placement
Demographics for 65613, MO
17,890
Population
7,327
Households
2.4
Avg Household Size
37
Median Age
26%
College-Educated
90%
High-School Grad
184.9 sq mi
ZIP Area
97
Density / Sq Mi
$56,919
Median Household Income
$31,765
Median Earnings
$828
Median Rent
$197,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Multifamily property with full kitchen packages, laundry hookups, and a location near Southwest Baptist University.
Where is this triplex located?
The property is located at 1860-70-80 S Pike Avenue Bolivar, MO.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Three 3‑bedroom, 2‑bathroom units; 3,343‑square‑foot triplex; Washers and dryers convey with the sale
