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    Turnkey Investment Property Package Title is generated by Realmo AI

    217 S Pickwick Avenue, Springfield, MO 65802

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    For Sale
    $1,103,000

    MULTI_FAMILY - Springfield, MO

    Property size:
    6,198 SF
    Lot size:
    0.86 Acres
    Price / SF:
    $177/SF
    Added:
    Nov 12, 2025
    Days on Market:
    183
    Last Refresh:
    May 14 at 8:06 pm

    Property Features for 217 S Pickwick Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    INC
    Bedrooms
    13
    Rooms
    Bedroom 11, Bedroom 5, Bedroom 4, Bedroom 2, Bedroom 13, Bedroom 8, Bedroom 6, Bedroom 7, Bedroom 1, Bedroom 10, Bedroom 9, Bedroom 12, Bedroom 3
    Interior features
    Apply To All Units, Washer/Dryer Hookup
    Appliances
    Range, Refrigerator
    Standard status
    Active
    APN
    1219107020
    Size
    6,198 SF
    Lot size
    0.86 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    FRISCO HGTS ADD N 66 FT LOT 12 BLK 1
    Tax Annual Amount
    616

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1934
    Number of units
    7

    We can help!

    Listing Contact
    Grega Real Estate Group

    Listing agent Grega Real Estate Group License #2019028847

    Listing office Murney Associates - Primrose 1625 E. Primrose, Springfield, MO

    Listing date Nov 12, 2025

    MLS# 60309700 Listing URL

    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.

    HighLights

    • Turnkey rental property package with five single‑family homes and one duplex.
    • Strategically located within 1.5 miles of multiple universities (MSU, Drury, Evangel, Ozarks Technical College).
    • Includes an oversized two‑car garage with alley access, currently used as a warehouse for on‑site storage and property operations.
    • Professionally managed and well‑maintained properties.
    • Conveniently located one block from Historic Route 66 and within walking distance of the Pickwick and Cherry corridor.
    • All units include washer/dryer hookups, range, and refrigerator.

    Overview

    This turnkey rental property package features five single-family homes and one duplex, situated on 0.86 acres at the intersection of Pickwick and McDaniel in Springfield, Missouri. The properties are located within 1.5 miles of Missouri State University (MSU), Drury University, Evangel University, and Ozarks Technical College, and are one block from Historic Route 66, within walking distance of the Pickwick and Cherry corridor. This location attracts tenants seeking proximity to universities, downtown amenities, and sports venues. The properties are professionally managed and well-maintained. A two-car garage with alley access behind 1441 East McDaniel serves as a warehouse for on-site storage and property operations. This collection of properties offers attractive qualities with cash flow potential. The zoning is INC. The combined properties offer 6198 square feet of living space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Skin Care Clinic Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Greene
    State
    Missouri
    Longitude
    -93.269136
    Latitude
    37.208794

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    FAQs

    What type of property is this?
    Single family property - Six residential properties near universities and downtown Springfield, Missouri.
    Where is this single family property located?
    The property is located at 217 S Pickwick Avenue Springfield, MO.
    What is the asking price?
    The asking price for this property is $1,103,000.
    What are key features of this property?
    This property features: Turnkey rental property package with five single‑family homes and one duplex.; Strategically located within 1.5 miles of multiple universities (MSU, Drury, Evangel, Ozarks Technical College).; Includes an oversized two‑car garage with alley access, currently used as a warehouse for on‑site storage and property operations.
    (417) 343-4364
    We can help!
    Listing Contact
    Grega Real Estate Group
    Real Estate License ID: 2019028847
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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