Occupied Two-Story
For Sale
$249,900
531 S Fort Ave, Springfield, MO 65806
Four occupied apartments feature full kitchens, living areas, one bedroom, and one bathroom apiece, with utilities included.
Property Size1,100 SF
Price / SF$227.18
Days on Market55
Property Features for 531 S Fort Ave
General Information
Standard status
Active
Size
1,100 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$743
Building Details
Stories
2
Listing Agency:
Murney Associates - Primrose
Listed By:
Robin Dailey · License #1999118143
(417) 823-2300
Source:
Exprealty
Added: Aug 29
Changed: Oct 13
Last Checked: Oct 21 at 12:55AM
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 Murney Associates - Primrose
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Investment Insights
Based on property information with market context.
This two-story quadplex contains four currently occupied apartments. Each unit provides a full kitchen, living area, one bedroom, and one bathroom, with utilities included. The basement has a partially prepared area described as a possible two-bedroom unit.
Vehicle parking is positioned behind the building, providing one parking space for each tenant. The property is situated near Grand and Fort, with a newer Walmart, additional shopping, and downtown in the surrounding area.
Vehicle parking is positioned behind the building, providing one parking space for each tenant. The property is situated near Grand and Fort, with a newer Walmart, additional shopping, and downtown in the surrounding area.
Key Highlights
- Four apartments, all currently occupied
- Each apartment includes a full kitchen, living area, one bedroom, and one bath
- Utilities are included for the apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,970
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$199,400
$199.4K
Cap Rate 7%
$142,429
$142.4K
Cap Rate 9%
$110,778
$110.8K
Market Conditions
NOI Build-Up for 1,100 SF
Gross rent
$15.2K $13.80/SF
− Vacancy
−$937 −$0.85/SF
EGI
$14.2K $12.95/SF
− OpEx
−$4.3K −$3.88/SF
NOI
$10.0K $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 Rate 5%
$199,400
Cap Rate 7%
$142,429
Cap Rate 9%
$110,778
Alternative Uses
Best Use
Multifamily LT 5
$142.4K
$124.6K – $166.2K
NOI $9,970 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$127.0K
$111.2K – $148.2K
NOI $8,892 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$166.0K
$145.3K – $193.7K
NOI $11,622 @ 7.0% cap · market cap 4.65%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
464
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
Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied apartments feature full kitchens, living areas, one bedroom, and one bathroom apiece, with utilities included.
Where is this quadplex located?
The property is located at 531 S Fort Ave Springfield, MO.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Four apartments, all currently occupied; Each apartment includes a full kitchen, living area, one bedroom, and one bath; Utilities are included for the apartments
