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    631 Grant Ave Springfield, MO 65806

    • Dormitories
    • 2,542 SF
    • 0.22 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-1532253
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Dormitories

    Property Details for 631 Grant Ave

    Year built
    2023
    Lot size
    0.22 lot acres
    Property size
    2,542 SF
    Property type
    Dormitories
    Property subtype
    Student housing

    Description

    This exceptional 2023-built duplex at 631 S. Grant Ave, Springfield, MO 65806, presents a lucrative investment opportunity in the thriving student housing market. Boasting a total of 2,542 square feet across two units, each unit offers three bedrooms and two bathrooms, catering perfectly to student needs. The property features modern amenities including granite countertops, luxury vinyl plank flooring, new appliances, and in-unit washer/dryer hookups. Each unit also benefits from a double sink bathroom vanity for added convenience. Exterior features include a wrap-around porch, low-maintenance diamond coat siding, and privacy fencing. Six off-street parking spaces are provided. Situated on a 0.22-acre lot, this property is only 1.3 miles from Missouri State University (MSU), ensuring high demand and occupancy. The property is currently 100% occupied with leases extending into Summer 2024. The asking price is $424,000, representing a price per square foot of $166.80 and a price per unit of $212,000. The property's Net Operating Income (NOI) is $28,316, yielding a 6.68% cap rate. All utilities are electric, with the owner responsible only for trash and lawn care. This turnkey investment is ideally located along the Grant Ave Parkway Improvement Corridor, promising strong future appreciation. The property's construction and recent renovation ensure minimal maintenance requirements.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Greene
    State
    Missouri
    Longitude
    -93.2992594
    Latitude
    37.2032514

    Comparable in this City

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      Two residences on one lot, ideal investment opportunity.
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      Springfield Duplex: Investment Opportunity

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    Similar Nearby for Sale

    • $1,750,000
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      Downtown Springfield Mixed-Use Building

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    • $370,000
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      Springfield Multifamily Investment

      Four-unit apartment building, 100% occupied.
      1820-1824 Walnut St, Springfield, MO 65806
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    • $699,500
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      Park Central Square Income Property

      Mixed-use property with long-term tenant and loft apartments.
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      Two Homes, One Springfield Lot

      Two residences on one lot, ideal investment opportunity.
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    • $1,475,000
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      Springfield Multi-Family Investment Opportunity

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      Springfield Duplex with Updated Units

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    Similar Nearby for Lease

    • $10 SF/Yr
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      Downtown Springfield Office Sublease

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      Downtown Springfield First Floor Office

      First floor office space in Springfield CBD for sublease.
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      Retail Space Near Universities

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      Downtown Springfield Office/Retail Space

      Two-story office/retail space in historic downtown Springfield.
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    • Contact for pricing
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      Downtown Springfield Land Opportunity

      Prime 0.48-acre commercial lot, ideal for redevelopment.
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      Downtown Springfield Restaurant/Event Space

      Spacious restaurant/event center in downtown Springfield with multiple floors.
      314 S Patton Ave, Springfield, MO 65806
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    631 Grant Ave
    Springfield, MO 65806
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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