Downtown Duplex with Updated
New
For Sale
$179,900
905-907 PANNELL ST, Columbia, MO 65201
Two residential units feature hardwood flooring, refreshed kitchens and baths, and included laundry appliances.
Property Size1,235 SF
Price / SF$145.67
Days on Market3
Property Features for 905-907 PANNELL ST
General Information
Standard status
Active
Size
1,235 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
Hardwood floors
Updated kitchen & bathroom
Washer & dryer
Driveway parking
Front yard
Backyard
Listing Agency:
Midwest Land Group LLC
Listed By:
Susan Reeves · License #2018022272
(573) 489-8808
Source:
Columbiaathome
Added: Sep 20
Changed: Sep 21
Last Checked: Sep 21 at 6:01AM
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 Midwest Land Group LLC
Investment Insights
Based on property information with market context.
This downtown duplex contains two residences, with each side measuring approximately 625 sq. ft. and offering 1 bedroom and 1 bath. Hardwood flooring runs throughout both units, while updated kitchens and bathrooms provide refreshed interior finishes. Washer and dryer appliances are included, and the property also offers driveway parking plus front and rear yard areas.
The property is located at 905-907 PANNELL ST in Columbia, near Columbia College and within minutes of 3 campuses. Stephens College and MIZZOU are within walking distance, along with The District and several local destinations, including The Arcade District, Logboat Brewing Company, Rose Music Hall, Cafe Berlin, and The Blue Note.
The property is located at 905-907 PANNELL ST in Columbia, near Columbia College and within minutes of 3 campuses. Stephens College and MIZZOU are within walking distance, along with The District and several local destinations, including The Arcade District, Logboat Brewing Company, Rose Music Hall, Cafe Berlin, and The Blue Note.
Key Highlights
- Two‑unit duplex at 905‑907 PANNELL ST, Columbia, MO 65201
- Each side offers approximately 625 sq. ft. with 1 bedroom and 1 bath
- Hardwood floors throughout both residences
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,185
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.66%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$203,700
$203.7K
Cap Rate 7%
$145,500
$145.5K
Cap Rate 9%
$113,167
$113.2K
Market Conditions
NOI Build-Up for 1,235 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$15.6K $12.60/SF
− Vacancy
−$1.0K −$0.82/SF
EGI
$14.5K $11.78/SF
− OpEx
−$4.4K −$3.53/SF
NOI
$10.2K $8.25/SF
Area
Columbia, MO
Vacancy
6.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$203,700
Cap Rate 7%
$145,500
Cap Rate 9%
$113,167
Alternative Uses
Best Use
Multifamily LT 5
$145.5K
$127.3K – $169.8K
NOI $10,185 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$136.4K
$119.4K – $159.2K
NOI $9,551 @ 7.0% cap · market cap 5.31%
Theoretical Best
Warehouse
$191.5K
$167.5K – $223.4K
NOI $13,403 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,440
Businesses Nearby
Explore this area
Business Placement
Demographics for 65201, MO
48,734
Population
21,239
Households
2.3
Avg Household Size
26
Median Age
54%
College-Educated
95%
High-School Grad
87.4 sq mi
ZIP Area
558
Density / Sq Mi
$46,177
Median Household Income
$18,709
Median Earnings
$1,078
Median Rent
$229,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature hardwood flooring, refreshed kitchens and baths, and included laundry appliances.
Where is this duplex located?
The property is located at 905-907 PANNELL ST Columbia, MO.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Two‑unit duplex at 905‑907 PANNELL ST, Columbia, MO 65201; Each side offers approximately 625 sq. ft. with 1 bedroom and 1 bath; Hardwood floors throughout both residences
