Two-Story
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 Market38
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
Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 2, 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) 861-0311
Added: Aug 28
Changed: Sep 21
Last Checked: Oct 4 at 3:06PM
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 contains four occupied apartments, each arranged with a full kitchen, living room, one bedroom, and one bathroom. The property also includes a basement area that is partially prepared for a potential two-bedroom unit with a living room, kitchenette, and full bath. Utilities are included, and each tenant has a parking space in the rear lot.
Built in 1910 on a 0.21-acre parcel, the property has frame construction, a composition roof, forced-air heat, public sewer service, and a 1100-square-foot property size as reported. Appliances include ranges and refrigerators. The residentially zoned property is near the intersection of Grand and Fort, with Walmart, additional shopping, and downtown nearby.
Built in 1910 on a 0.21-acre parcel, the property has frame construction, a composition roof, forced-air heat, public sewer service, and a 1100-square-foot property size as reported. Appliances include ranges and refrigerators. The residentially zoned property is near the intersection of Grand and Fort, with Walmart, additional shopping, and downtown nearby.
Key Highlights
- Four apartments are currently occupied
- Each unit includes a full kitchen, living room, one bedroom, and one bathroom
- Basement area partially prepared for a potential two‑bedroom unit
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
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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
Check the figures for this property
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?
Quadplex - Four occupied apartments feature private kitchens, living areas, bedrooms, and baths, with rear parking assigned to each tenant.
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 apartments are currently occupied; Each unit includes a full kitchen, living room, one bedroom, and one bathroom; Basement area partially prepared for a potential two‑bedroom unit
