Duplex with Separate Utility
New
For Sale
$215,000
861 S Missouri Ave, Springfield, MO 65806
Each residence has independently metered utilities, with tenants responsible for service costs.
Property Size1,100 SF
Price / SF$195.45
Days on Market6
Property Features for 861 S Missouri Ave
General Information
Standard status
Active
Size
1,100 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$389
Listing Agency:
Jones Properties
Listed By:
Bud Jones
(417) 268-0283
Source:
Exprealty
Added: Oct 17
Changed: Oct 21
Last Checked: Oct 20 at 10:51PM
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 Jones Properties
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Investment Insights
Based on property information with market context.
This duplex contains 1,100 square feet and has separate utility meters. Tenants pay for electric, gas, water, and garbage service. The property has a history of consistent rentals, and leases include deposits.
The building is near MSU at 861 S Missouri Ave in Springfield, Missouri.
The building is near MSU at 861 S Missouri Ave in Springfield, Missouri.
Key Highlights
- Duplex with 1,100 square feet
- Separate utility meters
- Tenants pay electric, gas, water, and garbage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,970
Cap Rate
4.64%
Suggested Prices Based on Cap Rates
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
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 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 4.64%
Second Best
Apartment 5plus
$127.0K
$111.2K – $148.2K
NOI $8,892 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$166.0K
$145.3K – $193.7K
NOI $11,622 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
504
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 - Each residence has independently metered utilities, with tenants responsible for service costs.
Where is this duplex located?
The property is located at 861 S Missouri Ave Springfield, MO.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Duplex with 1,100 square feet; Separate utility meters; Tenants pay electric, gas, water, and garbage
