Four-Duplex Income
New
For Sale
$745,000
2118 N Jefferson Avenue, Springfield, MO 65803
Residential Income, Springfield, MO
Property Size5,760 SF
Lot Size0.78 Acres
Price / SF$129.34
Days on Market1
Property Features for 2118 N Jefferson Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
TH
Bedrooms
16
Rooms
Bedroom 9, Bedroom 3, Bedroom 6, Bedroom 11, Bedroom 14, Bedroom 4, Bedroom 12, Bedroom 7, Bedroom 1, Bedroom 15, Bedroom 8, Bedroom 10, Bedroom 13, Bedroom 2, Bedroom 5, Bedroom 16
Subdivision
Greene-Not in List
Elementary school
SGF-Bowerman
Middle school
SGF-Reed
High school
SGF-Hillcrest
Directions
From Kearney, head south on Jefferson Ave, duplexes are on the east side of the intersection of Dale St and Jefferson Ave.
Standard status
Active
APN
1312213013
Size
5,760 SF
Lot size
0.78 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
OZARK LAND CO 2ND ADD S 10 FT LOT 27 & ALL 28 & W 142 FT LOT S 29 & 30
Tax Annual Amount
2777
Legal Description
OZARK LAND CO 2ND ADD S 10 FT LOT 27 & ALL 28 & W 142 FT LOT S 29 & 30
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Central
Cooling system
Central Air, Ceiling Fan(s)
Amenities
refrigerator
microwave
oven
dishwasher
laundry hookups
parking lots
Building Details
Year built
1987
Number of units
8
Listing Agency:
Murney Associates - Primrose
(417) 823-2300
Listed By:
Roger Kure
(417) 343-0576
Added: Sep 11
Last Checked: Sep 11 at 2:06PM
MLS# 60333642
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 residential income property comprises four duplex buildings on a 0.78-acre parcel, with 5,760 square feet of total property size. Units include refrigerators, microwaves, ovens, dishwashers, and laundry hookups. Heating is provided by forced air and central systems, while cooling includes central air and ceiling fans.
The property has two parking lots positioned along the south and west sides. Water, gas, and electric service are separately metered for each unit and paid by tenants, while the landlord provides lawn care. Improvements include brand-new roofs, fascia, soffit, and gutters, along with newer windows, siding, HVAC units, and water heaters. Copper water supply lines, PVC sewage lines, and public sewer service are also in place. The property is zoned TH and was built in 1987.
The property has two parking lots positioned along the south and west sides. Water, gas, and electric service are separately metered for each unit and paid by tenants, while the landlord provides lawn care. Improvements include brand-new roofs, fascia, soffit, and gutters, along with newer windows, siding, HVAC units, and water heaters. Copper water supply lines, PVC sewage lines, and public sewer service are also in place. The property is zoned TH and was built in 1987.
Key Highlights
- Four duplexes on one 0.78‑acre parcel
- 5,760 square feet of property size
- Brand‑new roofs, fascia, soffit, and gutters
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
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Current Use
Lease Details
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Four duplex buildings feature individually metered utilities, tenant-paid services, and appliance-equipped units.
Where is this duplex located?
The property is located at 2118 N Jefferson Avenue 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: Four duplexes on one 0.78‑acre parcel; 5,760 square feet of property size; Brand‑new roofs, fascia, soffit, and gutters
