4-Unit
For Sale
$280,000
829 W Pershing Street, Springfield, MO 65806
One apartment is occupied, two are ready for tenants, and a fourth needs work before it can be rented.
Property Size1,800 SF
Lot Size0.18 Acres
Price / SF$155.56
Days on Market136
Property Features for 829 W Pershing Street
General Information
Standard status
Active
Size
1,800 SF
Lot size
0.18 Acres
Property subtype
Residential Income
Zoning
INC
Site & Location
Neighborhood
West Central
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$957
Amenities
Carpet
Building Details
Year Built
1925
Units
4
Listing Agency:
Keller Williams
(417) 883-4900
Listed By:
The Property Gurus · License #2018016865
(417) 379-8963
Source:
Jimhutchesonrealtors
Added: Jun 19
Changed: Oct 31
Last Checked: Oct 30 at 3:24PM
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
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Investment Insights
Based on property information with market context.
Built in 1925, this four-unit property contains four one-bedroom, one-bath apartments across 1,800 square feet. The lower apartments have individual entrances from the covered front porch; the two upper units are reached by a side entrance and stairway. One unit is rented, two are ready for occupancy, and the remaining apartment needs work before it can be rented. The property is offered as-is.
The quadplex occupies a 0.18-acre parcel near downtown Springfield and Missouri State University. A covered porch and backyard are among its outdoor features. The zoning designation is INC.
The quadplex occupies a 0.18-acre parcel near downtown Springfield and Missouri State University. A covered porch and backyard are among its outdoor features. The zoning designation is INC.
Key Highlights
- Four apartments, each with one bedroom and one bathroom
- 1,800 square feet on a 0.18‑acre lot
- One unit rented; two ready for tenants, with one needing work before rental
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,315
Cap Rate
5.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$326,300
$326.3K
Cap Rate 7%
$233,071
$233.1K
Cap Rate 9%
$181,278
$181.3K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$24.8K $13.80/SF
− Vacancy
−$1.5K −$0.85/SF
EGI
$23.3K $12.95/SF
− OpEx
−$7.0K −$3.88/SF
NOI
$16.3K $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%
$326,300
Cap Rate 7%
$233,071
Cap Rate 9%
$181,278
Alternative Uses
Best Use
Multifamily LT 5
$233.1K
$203.9K – $271.9K
NOI $16,315 @ 7.0% cap · market cap 5.83%
Second Best
Apartment 5plus
$207.9K
$181.9K – $242.5K
NOI $14,551 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$271.7K
$237.7K – $317.0K
NOI $19,018 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
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?
Quadplex - One apartment is occupied, two are ready for tenants, and a fourth needs work before it can be rented.
Where is this quadplex located?
The property is located at 829 W Pershing Street Springfield, MO.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Four apartments, each with one bedroom and one bathroom; 1,800 square feet on a 0.18‑acre lot; One unit rented; two ready for tenants, with one needing work before rental
