Renovated Two-Unit
For Sale
$225,000
824 W Elm Street, Springfield, MO 65806
Separate exterior access serves the upper apartment, while the main residence includes a covered porch and rear deck.
Property Size1,636 SF
Price / SF$137.53
Days on Market131
Property Features for 824 W Elm Street
General Information
Standard status
Active
Size
1,636 SF
Property subtype
Duplex
Site & Location
Neighborhood
West Central
Additional Details
Tenant in Place
Yes
Amenities
covered front porch
back deck
private staircase
Building Details
Year Built
1912
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Block Realty
Listed By:
King Block · License #2023005179
(417) 379-2855
Source:
Onefiverealestate
Added: Jun 24
Changed: Nov 1
Last Checked: Nov 1 at 1:45AM
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 Block Realty
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Investment Insights
Based on property information with market context.
This stacked duplex contains two distinct residences totaling 1,636 square feet. The main-level unit has three bedrooms and two bathrooms, plus a covered front porch and rear deck. Upstairs, a separate one-bedroom, one-bath apartment has its own exterior entrance, full kitchen, living area, and private staircase. The building dates to 1912 and has undergone extensive renovation, including updates to electrical service, plumbing, structural components, kitchens, bathrooms, flooring, windows, appliances, and exterior features.
The property is at 824 W Elm Street in Springfield, Missouri, minutes from downtown, Missouri State University, Drury University, Ozarks Technical Community College, shopping, dining, and parks. The main-level unit is tenant occupied, and showings require at least 24 hours' notice.
The property is at 824 W Elm Street in Springfield, Missouri, minutes from downtown, Missouri State University, Drury University, Ozarks Technical Community College, shopping, dining, and parks. The main-level unit is tenant occupied, and showings require at least 24 hours' notice.
Key Highlights
- Two residences: a 3‑bedroom, 2‑bath main unit and a 1‑bedroom, 1‑bath upper apartment
- 1,636 square feet in a stacked duplex configuration
- Renovated electrical service, plumbing, structural components, kitchens, bathrooms, flooring, windows, and appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,829
Cap Rate
6.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$296,580
$296.6K
Cap Rate 7%
$211,843
$211.8K
Cap Rate 9%
$164,767
$164.8K
Market Conditions
NOI Build-Up for 1,636 SF
Gross rent
$22.6K $13.80/SF
− Vacancy
−$1.4K −$0.85/SF
EGI
$21.2K $12.95/SF
− OpEx
−$6.4K −$3.88/SF
NOI
$14.8K $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%
$296,580
Cap Rate 7%
$211,843
Cap Rate 9%
$164,767
Alternative Uses
Best Use
Multifamily LT 5
$211.8K
$185.4K – $247.2K
NOI $14,829 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$188.9K
$165.3K – $220.4K
NOI $13,225 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$246.9K
$216.1K – $288.1K
NOI $17,285 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,511
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Separate exterior access serves the upper apartment, while the main residence includes a covered porch and rear deck.
Where is this duplex located?
The property is located at 824 W Elm Street Springfield, MO.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two residences: a 3‑bedroom, 2‑bath main unit and a 1‑bedroom, 1‑bath upper apartment; 1,636 square feet in a stacked duplex configuration; Renovated electrical service, plumbing, structural components, kitchens, bathrooms, flooring, windows, and appliances
