Geothermal
New
For Sale
$598,500
1905 S Ventura Avenue, Springfield, MO 65804
Residential Income, Springfield, MO
Property Size3,248 SF
Lot Size0.35 Acres
Price / SF$184.27
Days on Market4
Property Features for 1905 S Ventura Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
INC
Bedrooms
4
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bedroom 3, Bedroom 2, Bedroom 4, Bathroom 1
Interior features
Fireplace, Washer/Dryer Hookup
Fireplace
1
Appliances
Range, Disposal, Dishwasher, Dryer, Washer, Refrigerator, Microwave
Subdivision
Southern Hills of Springfield
Elementary school
SGF-Pershing
Middle school
SGF-Pershing
High school
SGF-Glendale
Directions
From E. Sunshine St turn South onto Ventura to the property on the right.For rent sign is in the yard for PPMC
Standard status
Active
APN
1233203004
Size
3,248 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SOUTHERN HILLS OF SPRINGFIELD LOT 22 BLK A
Tax Annual Amount
3001
Legal Description
SOUTHERN HILLS OF SPRINGFIELD LOT 22 BLK A
Utilities
Sewer type
Public Sewer
Heating system
Geothermal (Heating)
Cooling system
Geothermal, Ceiling Fan(s)
Amenities
hardwood floors
fireplace
built-in bookshelves
modern appliances
concrete countertops
walk-in shower
geothermal heating and cooling
pergola patio
enclosed porch
Building Details
Year built
1966
Number of units
2
Building materials
Brick, Vinyl Siding
Roof type
Composition
Listing Agency:
Landmark Brokers
(417) 827-8314
Listed By:
Brandi N Morris
(417) 883-9522
Added: Oct 1
Changed: Oct 4
Last Checked: Oct 4 at 4:06PM
MLS# 60335236
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 1966 duplex contains 3,248 square feet across two residences, each arranged with two bedrooms and one-and-a-half bathrooms. Geothermal heating and cooling serve both sides. Interior features include hardwood flooring, a fireplace with built-in shelving, and kitchens equipped with appliances. The property also has an enclosed porch and a pergola patio, with landscaping that includes 90 Emerald Green Arbor Vitae trees.
Set on a 0.35-acre parcel in southeast Springfield, the property has access to I-65. Zoning is INC. Construction includes brick and vinyl siding, and the site is served by public sewer.
Set on a 0.35-acre parcel in southeast Springfield, the property has access to I-65. Zoning is INC. Construction includes brick and vinyl siding, and the site is served by public sewer.
Key Highlights
- Two residences, each with 2 bedrooms and 1.5 bathrooms
- 3,248 square feet on a 0.35‑acre lot
- Geothermal heating and cooling in both units
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
$29,440
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
4.92%
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%
$588,800
$588.8K
Cap Rate 7%
$420,571
$420.6K
Cap Rate 9%
$327,111
$327.1K
Market Conditions
NOI Build-Up for 3,248 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
$44.8K $13.80/SF
− Vacancy
−$2.8K −$0.85/SF
EGI
$42.1K $12.95/SF
− OpEx
−$12.6K −$3.88/SF
NOI
$29.4K $9.06/SF
Area
Springfield, 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%
$588,800
Cap Rate 7%
$420,571
Cap Rate 9%
$327,111
Alternative Uses
Best Use
Multifamily LT 5
$420.6K
$368.0K – $490.7K
NOI $29,440 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$375.1K
$328.2K – $437.6K
NOI $26,257 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$490.2K
$429.0K – $571.9K
NOI $34,316 @ 7.0% cap · market cap 5.73%
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
636
Businesses Nearby
Explore this area
Business Placement
Demographics for 65804, MO
40,064
Population
20,118
Households
2
Avg Household Size
40
Median Age
42%
College-Educated
97%
High-School Grad
18.6 sq mi
ZIP Area
2,154
Density / Sq Mi
$58,288
Median Household Income
$40,103
Median Earnings
$898
Median Rent
$227,000
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 mirrored residences offer separate living space, geothermal climate control, and landscaped outdoor areas.
Where is this duplex located?
The property is located at 1905 S Ventura Avenue Springfield, MO.
What is the asking price?
The asking price for this property is $598,500.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1.5 bathrooms; 3,248 square feet on a 0.35‑acre lot; Geothermal heating and cooling in both units
