Occupied Two-Story
New
For Sale
$249,900
531 S Fort Avenue, Springfield, MO 65806
Residential Income, Springfield, MO
Property Size1,100 SF
Lot Size0.21 Acres
Price / SF$227.18
Days on Market3
Property Features for 531 S Fort Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
residential
Bedrooms
4
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 3
Appliances
Range, Refrigerator
Subdivision
Townsend
Elementary school
SGF-McGregor
Middle school
SGF-Westport
High school
SGF-Parkview
Directions
From Fort and Grand go North on Fort to building on left, park in parking lot in back.
Standard status
Active
APN
1323216007
Size
1,100 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TOWNSEND ADD LOT 8
Tax Annual Amount
744
Legal Description
TOWNSEND ADD LOT 8
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Building Details
Year built
1910
Number of units
4
Building materials
Frame
Roof type
Composition
Listing Agency:
Murney Associates - Primrose
(417) 823-2300
Listed By:
Robin Dailey · License #1999118143
(417) 823-2300
Added: Aug 28
Last Checked: Aug 30 at 1:06PM
MLS# 60332625
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 two-story quadplex at 531 S Fort Avenue contains four occupied apartments. Each unit is arranged with a full kitchen, living area, one bedroom, and one bathroom, with utilities included. The property also has a partially prepared basement area that may support a two-bedroom unit. Range and refrigerator appliances are present, and the building uses frame construction, forced-air heating, a composition roof, and public sewer service. Built in 1910, the property sits on 0.21 acres and is zoned residential.
Rear-lot parking provides one space for each tenant. The property is near Grand and Fort, with Walmart, shopping, and downtown identified in the surrounding area.
Rear-lot parking provides one space for each tenant. The property is near Grand and Fort, with Walmart, shopping, and downtown identified in the surrounding area.
Key Highlights
- Four occupied apartments with one‑bedroom, one‑bath layouts
- Two‑story frame building constructed in 1910
- 0.21‑acre lot with rear parking for one space per tenant
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
$9,970
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
3.99%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units provide one-bedroom layouts with kitchens, living areas, and baths, plus rear parking for tenants.
Where is this quadplex located?
The property is located at 531 S Fort Avenue 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 occupied apartments with one‑bedroom, one‑bath layouts; Two‑story frame building constructed in 1910; 0.21‑acre lot with rear parking for one space per tenant
