Four-Duplex Multifamily
New
For Sale
$745,000
2118 N Jefferson Ave, Springfield, MO 65803
Newer-construction duplexes feature updated building systems, separate utility metering, and on-site parking.
Property Size5,760 SF
Price / SF$129.34
Days on Market7
Property Features for 2118 N Jefferson Ave
General Information
Standard status
Active
Size
5,760 SF
Property subtype
Residential Income
Additional Details
Utilities to Site
Yes
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$2,777
Building Details
Buildings
4
Listing Agency:
Murney Associates - Primrose
(417) 823-2300
Listed By:
Roger Kure
(417) 343-0576
Source:
Exprealty
Added: Sep 11
Changed: Sep 17
Last Checked: Sep 16 at 8:11PM
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 Murney Associates - Primrose
Investment Insights
Based on property information with market context.
This multifamily property comprises 4 duplexes on a single parcel with 5,760 square feet of building area. The newer construction includes copper water supply lines, PVC sewage lines, updated windows and siding, and numerous newer HVAC and water heater units. Brand-new roofs, fascia, soffit, and guttering further reduce near-term exterior maintenance needs.
Two parking lots serve the property from the south and west sides. Each unit includes a refrigerator, microwave, oven, dishwasher, and laundry hookups. Water, gas, and electric service are individually metered for every unit and paid by the tenants, while the landlord provides lawn service. The property is located at 2118 N Jefferson Ave in Springfield, MO.
Two parking lots serve the property from the south and west sides. Each unit includes a refrigerator, microwave, oven, dishwasher, and laundry hookups. Water, gas, and electric service are individually metered for every unit and paid by the tenants, while the landlord provides lawn service. The property is located at 2118 N Jefferson Ave in Springfield, MO.
Key Highlights
- 4 duplexes on one parcel with 5,760 square feet of building area
- Brand‑new roofs, fascia, soffit, and guttering
- Copper water supply lines and PVC sewage lines
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
$52,209
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
7.01%
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%
$1,044,180
$1.0M
Cap Rate 7%
$745,843
$745.8K
Cap Rate 9%
$580,100
$580.1K
Market Conditions
NOI Build-Up for 5,760 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
$79.5K $13.80/SF
− Vacancy
−$4.9K −$0.85/SF
EGI
$74.6K $12.95/SF
− OpEx
−$22.4K −$3.88/SF
NOI
$52.2K $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%
$1,044,180
Cap Rate 7%
$745,843
Cap Rate 9%
$580,100
Alternative Uses
Best Use
Multifamily LT 5
$745.8K
$652.6K – $870.2K
NOI $52,209 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$665.2K
$582.1K – $776.1K
NOI $46,564 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$869.4K
$760.7K – $1.01M
NOI $60,856 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
595
Businesses Nearby
Explore this area
Business Placement
Demographics for 65803, MO
42,007
Population
19,659
Households
2.1
Avg Household Size
38
Median Age
22%
College-Educated
91%
High-School Grad
93.4 sq mi
ZIP Area
450
Density / Sq Mi
$46,539
Median Household Income
$33,537
Median Earnings
$890
Median Rent
$158,200
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?
Duplex - Newer-construction duplexes feature updated building systems, separate utility metering, and on-site parking.
Where is this duplex located?
The property is located at 2118 N Jefferson Ave Springfield, MO.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: 4 duplexes on one parcel with 5,760 square feet of building area; Brand‑new roofs, fascia, soffit, and guttering; Copper water supply lines and PVC sewage lines
