6-Unit Apartment Building with
For Sale
$325,000
806 W Walnut Street, Springfield, MO 65806
Separate entrances, rear parking, and a two-car garage serve the six-unit property near downtown Springfield.
Property Size2,587 SF
Price / SF$125.63
Days on Market18
Property Features for 806 W Walnut Street
General Information
Standard status
Active
Size
2,587 SF
Property subtype
Residential Income
Additional Details
Gross Income
$36,000
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$981
Listing Agency:
Keller Williams Local
(417) 883-4900
Listed By:
Keely Milliron
(417) 294-2771
Source:
Exprealty
Added: Oct 2
Changed: Oct 16
Last Checked: Oct 16 at 2:24PM
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 Keller Williams Local
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Investment Insights
Based on property information with market context.
This six-unit apartment property in Springfield includes 2,587 square feet, with a private entrance for each unit. Five of the six units are occupied. Improvements include newer plumbing, toilets, flooring, appliances, and a roof. Rear parking and a two-car garage are also part of the property, which is being sold in its present, as-is condition.
The property is located minutes from downtown Springfield. Owner-paid utilities have historically averaged approximately $530 per month.
The property is located minutes from downtown Springfield. Owner-paid utilities have historically averaged approximately $530 per month.
Key Highlights
- Six apartment units, with 5 of 6 currently occupied
- 2,587 square feet of building area
- Private entrance for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,913
Cap Rate
6.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$418,260
$418.3K
Cap Rate 7%
$298,757
$298.8K
Cap Rate 9%
$232,367
$232.4K
Market Conditions
NOI Build-Up for 2,587 SF
Gross rent
$40.7K $15.72/SF
− Vacancy
−$2.6K −$1.02/SF
EGI
$38.0K $14.70/SF
− OpEx
−$17.1K −$6.61/SF
NOI
$20.9K $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 Rate 5%
$418,260
Cap Rate 7%
$298,757
Cap Rate 9%
$232,367
Alternative Uses
Best Use
Apartment 5plus
$298.8K
$261.4K – $348.6K
NOI $20,913 @ 7.0% cap · market cap 6.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$390.5K
$341.7K – $455.5K
NOI $27,332 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,592
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?
Apartment building - Separate entrances, rear parking, and a two-car garage serve the six-unit property near downtown Springfield.
Where is this apartment building located?
The property is located at 806 W Walnut Street Springfield, MO.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Six apartment units, with 5 of 6 currently occupied; 2,587 square feet of building area; Private entrance for each unit
