6-Unit Apartment
For Sale
$315,000
806 W Walnut St, Springfield, MO 65806
Five apartments are occupied, and each unit has a private entrance.
Property Size2,587 SF
Price / SF$121.76
Days on Market28
Property Features for 806 W Walnut St
General Information
Standard status
Active
Size
2,587 SF
Property subtype
Residential Income
Site & Location
Neighborhood
West Central
Additional Details
Gross Income
$36,000
Multifamily Units
6
Tenant in Place
Yes
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 28
Last Checked: Oct 28 at 3:30PM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,587-square-foot apartment property contains six units, each with a separate entrance. Five units are occupied. Updates include plumbing, toilets, flooring, appliances, and the roof. The property also has back parking and a two-car garage, and is being sold in its present, as-is condition.
The property is near downtown Springfield, Missouri, and has an established rental history.
The property is near downtown Springfield, Missouri, and has an established rental history.
Key Highlights
- Six‑unit apartment property with 5 of 6 units occupied
- 2,587 square feet
- Private entrance for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,913
Cap Rate
6.64%
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 6.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$390.5K
$341.7K – $455.5K
NOI $27,332 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
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
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
Frequently Asked Questions
What type of property is this?
Apartment building - Five apartments are occupied, and each unit has a private entrance.
Where is this apartment building located?
The property is located at 806 W Walnut St Springfield, MO.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Six‑unit apartment property with 5 of 6 units occupied; 2,587 square feet; Private entrance for each unit
