Three-Unit Triplex
For Sale
$219,900
1920 S Connor Avenue, Joplin, MO 64804
MULTI_FAMILY - Joplin, MO
Property Size2,374 SF
Lot Size0.14 Acres
Price / SF$92.63
Days on Market14
Property Features for 1920 S Connor Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 4
Basement
Crawl Space
Elementary school
Cecil Floyd
Middle school
North
Elementary school district
Joplin
Middle school district
Joplin
High school district
Joplin
Directions
From 20th/Main - Head South to Connor. House on the corner of 20th and S Connor
Subdivision
01 - Joplin City - NW
Standard status
Active
Size
2,374 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
709
Utilities
Heating system
Natural Gas, Central
Cooling system
Window Unit(s), Central Air
Building Details
Year built
1920
Number of units
3
Flooring type
Wood
Roof type
Composition
Listing Agency:
KELLER WILLIAMS REALTY ELEVATE
(417) 623-9900
Listed By:
Pink Homes, Brian Pink · License #2018018296
(417) 623-9900
Added: Aug 17
Last Checked: Aug 30 at 2:06PM
MLS# 264560
Copyright © 2026 Ozark Gateway Association of Realtors. 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 triplex includes three residential units arranged across a primary home and a separate building. The main residence has two bedrooms and one bathroom, while the additional structure contains two one-bedroom, one-bath units. The property provides 2,374 square feet on a 0.14-acre lot and was built in 1920.
Interior and building features include wood flooring, composition roofing, natural-gas and central heating, plus a mix of central air and window-unit cooling. The unit configuration offers a straightforward multifamily layout with distinct residences on one property.
Interior and building features include wood flooring, composition roofing, natural-gas and central heating, plus a mix of central air and window-unit cooling. The unit configuration offers a straightforward multifamily layout with distinct residences on one property.
Key Highlights
- Three total units: one 2‑bedroom, 1‑bath home and two 1‑bedroom, 1‑bath units
- 2,374 square feet on a 0.14‑acre lot
- Separate building houses the two additional residences
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
$18,739
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
8.52%
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%
$374,780
$374.8K
Cap Rate 7%
$267,700
$267.7K
Cap Rate 9%
$208,211
$208.2K
Market Conditions
NOI Build-Up for 2,374 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
$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 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%
$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
NOI $20,269 @ 7.0% cap · market cap 9.22%
Second Best
Apartment 5plus
$267.7K
$234.2K – $312.3K
NOI $18,739 @ 7.0% cap · market cap 8.52%
Theoretical Best
Office A
$716.3K
$626.7K – $835.7K
NOI $50,139 @ 7.0% cap · market cap 22.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences combine a two-bedroom home with two one-bedroom units.
Where is this triplex located?
The property is located at 1920 S Connor Avenue 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 total units: one 2‑bedroom, 1‑bath home and two 1‑bedroom, 1‑bath units; 2,374 square feet on a 0.14‑acre lot; Separate building houses the two additional residences
