Building Details

Buildings 2

Listing Agency: KELLER WILLIAMS REALTY ELEVATE s***@kw.com Show Phone

Listed By: Pink Homes, Brian Pink · License #2018018296 Show Phone

Source: Exprealty

Added: Jul 18 Changed: Oct 6 Last Checked: Oct 16 at 2:35PM

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Investment Insights

Based on property information with market context.

This triplex property contains 2,374 square feet across a two-bedroom, one-bath main residence and a separate building with two one-bedroom, one-bath units. The three-unit configuration provides distinct residential spaces within the property, with an in-place rent roll serving as an existing income component.

Located at 1920 S Connor Ave in Joplin, Missouri, the property offers a straightforward multifamily layout with multiple units in two structures. The unit mix combines one larger residence with two additional one-bedroom apartments.

Key Highlights

• Three‑unit property totaling 2,374 square feet
• Main residence includes 2 bedrooms and 1 bath
• Separate building contains two 1‑bedroom, 1‑bath units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,739

Cap Rate

8.52%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$374,780 $374.8K

Cap Rate 7%

$267,700 $267.7K

Cap Rate 9%

$208,211 $208.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,374 SF

Gross rent

$37.0K $15.60/SF

− Vacancy

−$3.0K −$1.25/SF

EGI

$34.1K $14.35/SF

− OpEx

−$15.3K −$6.46/SF

NOI

$18.7K $7.89/SF

Area

Jasper County, MO

Vacancy

8.00%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$374,780

Cap Rate 7%

$267,700

Cap Rate 9%

$208,211

Alternative Uses

Best Use

Multifamily LT 5

$289.6K

$253.4K – $337.8K (±1% cap)

NOI $20,269 @ 7.0% cap · market cap 9.22%

Second Best

Apartment 5plus

$267.7K

$234.2K – $312.3K (±1% cap)

NOI $18,739 @ 7.0% cap · market cap 8.52%

Theoretical Best

Office A

$716.3K

$626.7K – $835.7K (±1% cap)

NOI $50,139 @ 7.0% cap · market cap 22.80%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick HVAC Service Grocery & Convenience Store (Bike/Boat/Book/etc) Store Real Estate Agency Carpet & Flooring Store Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

544

Businesses Nearby

Explore this area Business Placement

Demographics for 64804, MO

38,078

Population

16,844

Households

2.3

Avg Household Size

39

Median Age

28%

College-Educated

91%

High-School Grad

91.4 sq mi

ZIP Area

417

Density / Sq Mi

$62,081

Median Household Income

$34,780

Median Earnings

$886

Median Rent

$171,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - Separate structures provide a two-bedroom home and two additional one-bedroom units.

Where is this triplex located?

The property is located at 1920 S Connor Ave Joplin, MO.

What is the asking price?

The asking price for this property is $219,900.

What are key features of this property?

This property features: Three‑unit property totaling 2,374 square feet; Main residence includes 2 bedrooms and 1 bath; Separate building contains two 1‑bedroom, 1‑bath units