Historic Duplex with Large
For Sale
$140,000
429 S Broadway Avenue, Springfield, MO 65806
Residential Income, Springfield, MO
Property Size1,470 SF
Lot Size0.43 Acres
Price / SF$95.24
Days on Market97
Property Features for 429 S Broadway Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Residential
Subdivision
Fulbright, Ruth
Elementary school
SGF-McGregor
Middle school
SGF-Westport
High school
SGF-Parkview
Directions
From Walnut, go South on Broadway
Standard status
Active
APN
1323220020
Size
1,470 SF
Lot size
0.43 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Fulbrights Ruth Add S 98.25 Ft N 123.25 Ft E 193.18 Ft Lot 1 8
Tax Annual Amount
695
Legal Description
Fulbrights Ruth Add S 98.25 Ft N 123.25 Ft E 193.18 Ft Lot 1 8
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Window Unit(s)
Building Details
Year built
1916
Number of units
2
Listing Agency:
Cantrell Real Estate
(417) 414-0324
Listed By:
Debbie K. Carter
(417) 389-4314
Added: Jun 9
Changed: Sep 6
Last Checked: Sep 13 at 7:06PM
MLS# 60325940
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.
Built in 1916, this 1,470-square-foot duplex property occupies 0.43 acres and is being offered in its current as-is condition. The building is in the final phase of renovation and includes a recently installed roof plus 10 brand-new Andersen windows backed by a warranty. Forced-air heating and window-unit cooling are in place, with public sewer serving the property.
Residential zoning supports the existing property classification. The large parcel may offer the possibility of subdivision and construction of an additional duplex, subject to buyer verification and due diligence. The property information also identifies a layout opportunity combining a primary residence with an apartment above, providing flexibility for an owner-occupant or residential income strategy.
Residential zoning supports the existing property classification. The large parcel may offer the possibility of subdivision and construction of an additional duplex, subject to buyer verification and due diligence. The property information also identifies a layout opportunity combining a primary residence with an apartment above, providing flexibility for an owner-occupant or residential income strategy.
Key Highlights
- 1,470‑square‑foot duplex property on 0.43 acres
- Built in 1916 with historic character
- New roof installed
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
$11,883
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
8.49%
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%
$237,660
$237.7K
Cap Rate 7%
$169,757
$169.8K
Cap Rate 9%
$132,033
$132.0K
Market Conditions
NOI Build-Up for 1,470 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
$23.1K $15.72/SF
− Vacancy
−$1.5K −$1.02/SF
EGI
$21.6K $14.70/SF
− OpEx
−$9.7K −$6.61/SF
NOI
$11.9K $8.08/SF
Area
Springfield, 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%
$237,660
Cap Rate 7%
$169,757
Cap Rate 9%
$132,033
Alternative Uses
Best Use
Multifamily LT 5
$190.3K
$166.6K – $222.1K
NOI $13,324 @ 7.0% cap · market cap 9.52%
Second Best
Apartment 5plus
$169.8K
$148.5K – $198.1K
NOI $11,883 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$221.9K
$194.1K – $258.9K
NOI $15,531 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
732
Businesses Nearby
Explore this area
Business Placement
Demographics for 65806, MO
12,529
Population
8,049
Households
1.6
Avg Household Size
27
Median Age
22%
College-Educated
87%
High-School Grad
2.1 sq mi
ZIP Area
5,966
Density / Sq Mi
$28,450
Median Household Income
$21,090
Median Earnings
$840
Median Rent
$85,700
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 - Partially renovated residential property with a new roof, ten Andersen windows, and public sewer service.
Where is this duplex located?
The property is located at 429 S Broadway Avenue Springfield, MO.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: 1,470‑square‑foot duplex property on 0.43 acres; Built in 1916 with historic character; New roof installed
