Leased Duplex with In-Law
For Sale
$265,000
Joplin, MO 64801, Joplin, MO 64801
MultiFamily, Joplin, MO
Property Size2,040 SF
Lot Size0.21 Acres
Price / SF$129.90
Days on Market50
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 2, Bathroom 3, Basement
Basement
Partial, Unfinished
Elementary school
West
Middle school
North
Elementary school district
Joplin
Middle school district
Joplin
High school district
Joplin
Directions
From 4th & Main Street, head East on 4th to Jackson, turn Left (South), property is on Left (East).
Subdivision
03 - Joplin City - SW
Standard status
Active
Size
2,040 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Annual Amount
1091
Utilities
Heating system
Central, Natural Gas
Cooling system
Central Air
Building Details
Floors in Building
2
Number of units
2
Flooring type
Wood, Carpet
Roof type
Shingle
Listing Agency:
Heartland Land Company, LLC
(913) 210-0679
Listed By:
Matt McClintick · License #2019012656
(785) 550-1917
Added: Jul 23
Changed: Sep 8
Last Checked: Sep 10 at 11:06AM
MLS# 264074
Copyright © 2026 Ozark Gateway Association of Realtors. 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 2,040-square-foot duplex contains two separate living arrangements: a two-bedroom, one-and-a-half-bath primary unit and a one-bedroom, one-bath in-law suite. Interior finishes include wood and carpet flooring, while central heating, natural gas, and central air support year-round occupancy. The property also includes a basement and a shingle roof.
Both units are leased, and the purchaser will assume the existing leases through their respective expiration dates. The 0.21-acre property is located in Joplin near shopping, dining, schools, and other everyday amenities. Its two-unit configuration supports either continued rental use or an owner-occupancy arrangement with additional living space.
Both units are leased, and the purchaser will assume the existing leases through their respective expiration dates. The 0.21-acre property is located in Joplin near shopping, dining, schools, and other everyday amenities. Its two-unit configuration supports either continued rental use or an owner-occupancy arrangement with additional living space.
Key Highlights
- 2,040 square feet on 0.21 acres
- Two‑bedroom, one‑and‑a‑half‑bath primary unit
- Separate one‑bedroom, one‑bath in‑law suite
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
$17,417
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
6.57%
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%
$348,340
$348.3K
Cap Rate 7%
$248,814
$248.8K
Cap Rate 9%
$193,522
$193.5K
Market Conditions
NOI Build-Up for 2,040 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
$26.9K $13.20/SF
− Vacancy
−$2.0K −$1.00/SF
EGI
$24.9K $12.20/SF
− OpEx
−$7.5K −$3.66/SF
NOI
$17.4K $8.54/SF
Area
Jasper County, MO
Vacancy
7.60%
Lease Rate
$13.20 /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%
$348,340
Cap Rate 7%
$248,814
Cap Rate 9%
$193,522
Alternative Uses
Best Use
Multifamily LT 5
$248.8K
$217.7K – $290.3K
NOI $17,417 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$230.0K
$201.3K – $268.4K
NOI $16,103 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$615.5K
$538.6K – $718.1K
NOI $43,085 @ 7.0% cap · market cap 16.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
54
Businesses Nearby
Explore this area
Business Placement
Demographics for 64801, MO
35,234
Population
17,460
Households
2
Avg Household Size
37
Median Age
26%
College-Educated
90%
High-School Grad
57.5 sq mi
ZIP Area
613
Density / Sq Mi
$51,360
Median Household Income
$31,103
Median Earnings
$884
Median Rent
$176,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences combine a two-bedroom home with a separate one-bedroom suite for rental or owner-occupancy flexibility.
Where is this duplex located?
The property is located at Joplin, MO.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 2,040 square feet on 0.21 acres; Two‑bedroom, one‑and‑a‑half‑bath primary unit; Separate one‑bedroom, one‑bath in‑law suite
