Duplex Patio Homes with
New
For Sale
$375,000
919 & 921 N Boston Lane, Republic, MO 65738
MULTI_FAMILY - Republic, MO
Property Size2,432 SF
Lot Size0.30 Acres
Price / SF$154.19
Days on Market5
Property Features for 919 & 921 N Boston Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
residential
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 1
Interior features
Apply To All Units, Washer/Dryer Hookup
Appliances
Range, Disposal, Dishwasher, Microwave
Subdivision
Northview
Elementary school
RP Lyon
Middle school
Republic
High school
Republic
Directions
At Hwy 60 and Hwy 174 [Walmart] take a right on Hwy 174 to right on Boston Ln and the patio homes are on the left
Standard status
Active
APN
1717301054 & 1717301053
Size
2,432 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Northview Heights S1/2 & N1/2 Lot 1
Tax Annual Amount
2382
Legal Description
Northview Heights S1/2 & N1/2 Lot 1
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1989
Number of units
2
Building materials
Brick, Vinyl Siding
Roof type
Composition
Listing Agency:
Better Homes & Gardens SW Grp · Better Homes and Gardens Real Estate
(417) 732-2195
Listed By:
Alan Wolken · License #2005014890
(417) 234-1337
Added: Aug 7
Last Checked: Aug 11 at 9:06AM
MLS# 60330941
Copyright © 2026 Southern Missouri Regional MLS, LLC (SOMO). All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex property consists of two patio homes totaling 2,432 square feet on 0.3 acres. Each residence includes 2 bedrooms, 2 full baths, an attached 2-car garage, a covered front entry, and a rear deck. The units are identified by separate tax IDs and may be sold separately. Built in 1989, the property includes brick and vinyl siding, composition roofing, forced-air heat, central air, public sewer, and natural gas availability.
Located in Republic, the homes are within walking distance of a park and close to dining and shopping. Interior features include washer/dryer hookups, while appliances include ranges, disposals, dishwashers, and microwaves.
Located in Republic, the homes are within walking distance of a park and close to dining and shopping. Interior features include washer/dryer hookups, while appliances include ranges, disposals, dishwashers, and microwaves.
Key Highlights
- Two patio homes totaling 2,432 square feet
- Each unit includes 2 bedrooms and 2 full baths
- Attached 2‑car garage serving each residence
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
$20,378
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
5.43%
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%
$407,560
$407.6K
Cap Rate 7%
$291,114
$291.1K
Cap Rate 9%
$226,422
$226.4K
Market Conditions
NOI Build-Up for 2,432 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
$30.6K $12.60/SF
− Vacancy
−$1.5K −$0.63/SF
EGI
$29.1K $11.97/SF
− OpEx
−$8.7K −$3.59/SF
NOI
$20.4K $8.38/SF
Area
Greene County, MO
Vacancy
5.00%
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%
$407,560
Cap Rate 7%
$291,114
Cap Rate 9%
$226,422
Alternative Uses
Best Use
Multifamily LT 5
$291.1K
$254.7K – $339.6K
NOI $20,378 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$270.8K
$236.9K – $315.9K
NOI $18,953 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$798.0K
$698.2K – $931.0K
NOI $55,858 @ 7.0% cap · market cap 14.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
293
Businesses Nearby
Explore this area
Business Placement
Demographics for 65738, MO
20,995
Population
8,878
Households
2.4
Avg Household Size
35
Median Age
28%
College-Educated
95%
High-School Grad
53.9 sq mi
ZIP Area
390
Density / Sq Mi
$67,848
Median Household Income
$45,220
Median Earnings
$1,069
Median Rent
$195,400
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 separately identified patio homes provide a practical duplex configuration near a park, dining, and shopping.
Where is this duplex located?
The property is located at 919 & 921 N Boston Lane Republic, MO.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two patio homes totaling 2,432 square feet; Each unit includes 2 bedrooms and 2 full baths; Attached 2‑car garage serving each residence
