Duplex Package Near Kansas
1820-1824 W Walnut St Springfield, MO 65806
1820-1824 W Walnut St, Springfield, MO, 65806
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For Sale
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Two duplexes near Kansas Expressway in Springfield, fully occupied.
Property Size1,664 SF
Price / SF$213.34
Days on Market877
Property Features for 1820-1824 W Walnut St
General Information
- Standard status
- Active
- Size
- 1,664 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1995
Listing Agency
The Firm Real Estate, LLC
(417) 522-9940
Listed by
Jennifer Jackson · License #2025028715
Source
Crexi
Added: Feb 22, 2024 Checked: Jul 17 at 1:57 pm
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 The Firm Real Estate, LLC
Investment Insights
Based on property information with market context.
This offering features a package of two duplexes located on West Walnut Street, near Kansas Expressway in Springfield, Missouri. The location provides convenient access to Springfield and is within minutes of Historic Downtown Springfield. Each of the four units offers 845 square feet of living space, with a layout of two bedrooms and one bathroom. The properties are currently 100% occupied. The common area between the two units includes two concrete-mounted picnic tables. Neighboring businesses include the Route 66 Car Museum, College Street Cafe, Kum & Go, Jordan Valley Ice Park, Flame Steak House, Missouri State University, Dairy Queen, Little Caesars Pizza, Boys & Girls Club, and Walgreens, along with other local and national businesses. Springfield, Missouri, offers outdoor and cultural experiences and is a regional hub with big-city amenities and small-town hospitality.
Key Highlights
- 100% Occupied Duplex Package: Immediate income generation from four fully rented units.
- Prime Location: Situated on W Walnut St near Kansas Expressway, offering easy access to Springfield and Historic Downtown.
- Strong Rental Potential: Each unit features 2 bedrooms and 1 bathroom, a desirable layout for renters.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $23.0k | $13.80 |
| − Vacancy | −$1.4k | −$0.85 |
| EGI | $21.5k | $12.95 |
| − OpEx | −$6.5k | −$3.88 |
| NOI | $15.1k | $9.06 |
1,664 SF · lease $13.80/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$215.5K
$188.5K – $251.4K
NOI $15,082 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$192.2K
$168.2K – $224.2K
NOI $13,452 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$251.2K
$219.8K – $293.0K
NOI $17,581 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Two duplexes near Kansas Expressway in Springfield, fully occupied.
Where is this duplex located?
The property is located at 1820-1824 W Walnut St Springfield, MO.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: 100% Occupied Duplex Package: Immediate income generation from four fully rented units.; Prime Location: Situated on W Walnut St near Kansas Expressway, offering easy access to Springfield and Historic Downtown.; Strong Rental Potential: Each unit features 2 bedrooms and 1 bathroom, a desirable layout for renters.
