Duplex with Attached
For Sale
$275,000
3274 N State Highway Ab #3274-3276, Springfield, MO 65803
Each residential unit includes a carport and attached storage shed.
Property Size2,167 SF
Lot Size4.80 Acres
Days on Market35
Property Features for 3274 N State Highway Ab #3274-3276
General Information
Standard status
Active
Size
2,167 SF
Total Parking Spaces
4
Lot size
4.80 Acres
Property subtype
Residential Income
Zoning
A-1
Occupancy
50%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,964
Building Details
Building Size
2,167 SF
Year Built
1969
Buildings
1
Units
2
Listing Agency:
AMAX Real Estate
(417) 880-0713
Listed By:
Darlana Halterman
(417) 880-0713
Source:
Shannon-associates
Added: Jul 17
Changed: Aug 19
Last Checked: Aug 19 at 2:20PM
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 AMAX Real Estate
Investment Insights
Based on property information with market context.
Built in 1969, this duplex includes two residential units, with each side offering 2 bedrooms, 1 full bath, a 2-car carport, and an attached storage shed. One unit has been completely remodeled and is vacant, while the other is occupied by a tenant who has remained there for over 20 years.
The property spans 4.8 acres and is currently used for cattle grazing by a family member. Additional features include a one-year-old roof and A-1 zoning. The property carries a Springfield address and is served by Willard Schools.
The property spans 4.8 acres and is currently used for cattle grazing by a family member. Additional features include a one-year-old roof and A-1 zoning. The property carries a Springfield address and is served by Willard Schools.
Key Highlights
- Two‑unit duplex situated on 4.8 acres
- Each side has 2 bedrooms, 1 full bath, a 2‑car carport, and an attached storage shed
- One unit is completely remodeled and vacant
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
$19,642
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
7.14%
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%
$392,840
$392.8K
Cap Rate 7%
$280,600
$280.6K
Cap Rate 9%
$218,244
$218.2K
Market Conditions
NOI Build-Up for 2,167 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
$29.9K $13.80/SF
− Vacancy
−$1.8K −$0.85/SF
EGI
$28.1K $12.95/SF
− OpEx
−$8.4K −$3.88/SF
NOI
$19.6K $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%
$392,840
Cap Rate 7%
$280,600
Cap Rate 9%
$218,244
Alternative Uses
Best Use
Multifamily LT 5
$280.6K
$245.5K – $327.4K
NOI $19,642 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$250.3K
$219.0K – $292.0K
NOI $17,518 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$327.1K
$286.2K – $381.6K
NOI $22,895 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
3
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 - Each residential unit includes a carport and attached storage shed.
Where is this duplex located?
The property is located at 3274 N State Highway Ab #3274-3276 Springfield, MO.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two‑unit duplex situated on 4.8 acres; Each side has 2 bedrooms, 1 full bath, a 2‑car carport, and an attached storage shed; One unit is completely remodeled and vacant
