63-Unit Apartment
New
For Sale
$9,934,029
415 N Public Avenue, Clever, MO 65631
Residential Income, Clever, MO
Property Size85,178 SF
Lot Size6.50 Acres
Price / SF$116.63
Days on Market5
Property Features for 415 N Public Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Mulit Family
Bedrooms
149
Rooms
Bedroom 72, Bedroom 101, Bedroom 14, Bedroom 3, Bedroom 23, Bedroom 63, Bedroom 22, Bedroom 99, Bedroom 21, Bedroom 7, Bedroom 16, Bedroom 87, Bedroom 38, Bedroom 29, Bedroom 70, Bedroom 58, Bedroom 146, Bedroom 81, Bedroom 139, Bedroom 136, Bedroom 42, Bedroom 36, Bedroom 31, Bedroom 56, Bedroom 82, Bedroom 55, Bedroom 142, Bedroom 95, Bedroom 122, Bedroom 59, Bedroom 69, Bedroom 90, Bedroom 137, Bedroom 98, Bedroom 71, Bedroom 37, Bedroom 57, Bedroom 130, Bedroom 105, Bedroom 45, Bedroom 131, Bedroom 62, Bedroom 126, Bedroom 6, Bedroom 1, Bedroom 26, Bedroom 91, Bedroom 119, Bedroom 147, Bedroom 89, Bedroom 145, Bedroom 28, Bedroom 12, Bedroom 25, Bedroom 100, Bedroom 112, Bedroom 103, Bedroom 68, Bedroom 78, Bedroom 27, Bedroom 75, Bedroom 51, Bedroom 110, Bedroom 83, Bedroom 65, Bedroom 88, Bedroom 144, Bedroom 18, Bedroom 85, Bedroom 97, Bedroom 50, Bedroom 148, Bedroom 46, Bedroom 34, Bedroom 113, Bedroom 20, Bedroom 15, Bedroom 39, Bedroom 138, Bedroom 52, Bedroom 94, Bedroom 19, Bedroom 128, Bedroom 107, Bedroom 132, Bedroom 129, Bedroom 121, Bedroom 116, Bedroom 2, Bedroom 33, Bedroom 80, Bedroom 67, Bedroom 48, Bedroom 9, Bedroom 24, Bedroom 5, Bedroom 134, Bedroom 60, Bedroom 114, Bedroom 32, Bedroom 115, Bedroom 61, Bedroom 64, Bedroom 104, Bedroom 73, Bedroom 47, Bedroom 43, Bedroom 84, Bedroom 106, Bedroom 141, Bedroom 17, Bedroom 133, Bedroom 125, Bedroom 4, Bedroom 108, Bedroom 96, Bedroom 10, Bedroom 118, Bedroom 49, Bedroom 35, Bedroom 13, Bedroom 117, Bedroom 66, Bedroom 44, Bedroom 86, Bedroom 41, Bedroom 92, Bedroom 140, Bedroom 30, Bedroom 77, Bedroom 111, Bedroom 124, Bedroom 11, Bedroom 120, Bedroom 149, Bedroom 74, Bedroom 143, Bedroom 53, Bedroom 93, Bedroom 123, Bedroom 135, Bedroom 109, Bedroom 102, Bedroom 127, Bedroom 8, Bedroom 40, Bedroom 76, Bedroom 79, Bedroom 54
Appliances
Range, Disposal, Dishwasher, Refrigerator, Microwave
View
City
Elementary school
Clever
Middle school
Clever
High school
Clever
Directions
At Hwy 14 & K go South on K to sharp left curve and stay straight on Public in front of school and continue to 415 S. Public.
Standard status
Active
APN
090420003006005000
Size
85,178 SF
Lot size
6.50 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
125056
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2024
Number of units
63
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
Keller Williams Local · Keller Williams Realty
(417) 883-4900
Listed By:
Tyler Richardson · License #2014032729
(417) 773-5168
Added: Sep 9
Changed: Sep 13
Last Checked: Sep 13 at 6:06PM
MLS# 60333507
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 63-unit apartment community at 415 N Public Avenue includes townhome-style residences built in 2024. Individual homes provide approximately 1,200 to 1,500 square feet of living space, with vinyl siding, composition roofs, central heating, and central air conditioning. Kitchens are equipped with ranges, disposals, dishwashers, refrigerators, and microwaves.
The property occupies 6.5 acres and contains 85,178 square feet. Public sewer serves the community, with electricity available to the property. Located in Clever, Missouri, the development is zoned for multifamily use and provides newly built rental housing within Christian County.
The property occupies 6.5 acres and contains 85,178 square feet. Public sewer serves the community, with electricity available to the property. Located in Clever, Missouri, the development is zoned for multifamily use and provides newly built rental housing within Christian County.
Key Highlights
- 63‑unit townhome community
- Built in 2024
- 6.5‑acre property containing 85,178 square feet
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
$688,580
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
6.93%
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%
$13,771,600
$13.8M
Cap Rate 7%
$9,836,857
$9.8M
Cap Rate 9%
$7,650,889
$7.7M
Market Conditions
NOI Build-Up for 85,178 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
$1.34M $15.72/SF
− Vacancy
−$87.0K −$1.02/SF
EGI
$1.25M $14.70/SF
− OpEx
−$563.4K −$6.61/SF
NOI
$688.6K $8.08/SF
Area
Christian County, MO
Vacancy
6.50%
Lease Rate
$15.72 /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%
$13,771,600
Cap Rate 7%
$9,836,857
Cap Rate 9%
$7,650,889
Alternative Uses
Best Use
Apartment 5plus
$9.84M
$8.61M – $11.48M
NOI $688,580 @ 7.0% cap · market cap 6.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.86M
$11.25M – $15.00M
NOI $899,929 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
63
Residential units
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Explore this area
Business Placement
Demographics for 65631, MO
5,599
Population
2,413
Households
2.3
Avg Household Size
35
Median Age
26%
College-Educated
93%
High-School Grad
42.1 sq mi
ZIP Area
133
Density / Sq Mi
$91,250
Median Household Income
$44,118
Median Earnings
$1,058
Median Rent
$220,600
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - New construction offers townhome-style residences with central heating and cooling in a multifamily setting.
Where is this apartment building located?
The property is located at 415 N Public Avenue Clever, MO.
What is the asking price?
The asking price for this property is $9,934,029.
What are key features of this property?
This property features: 63‑unit townhome community; Built in 2024; 6.5‑acre property containing 85,178 square feet
