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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3041 Water St Springfield, MO 65802

    • Residential income homes
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US48-0060200
    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

    • Residential income homes

    Property Details for 3041 Water St

    Property type
    Residential income homes

    Description

    This exceptional investment opportunity presents a portfolio of four single-family rental homes strategically located across Springfield and Republic, Missouri, within Greene County. The portfolio comprises two properties in Springfield, located at 3041 W Water St (zip code 65802) and 908 W Harrison St (zip code 65806), and two in Republic, situated at 532 N College Ave (zip code 65738) and an additional property on N Walnut Ave (zip code 65738). This diverse geographic spread minimizes risk and maximizes potential rental income. The asking price for this entire package is $320,000. Each property offers a unique opportunity to generate consistent cash flow. The properties are ideal for both seasoned investors seeking portfolio expansion and those new to real estate investment looking for a diversified entry point. Detailed financial information and individual property specifics are available upon request. This is a turnkey investment, ready for immediate income generation. The portfolio's location within Greene County, Missouri, offers a stable rental market with consistent demand. This represents a rare opportunity to acquire a well-positioned multifamily investment package at a competitive price. Don't miss out on this chance to build your real estate portfolio. Contact us today to schedule a viewing and explore the potential of this lucrative investment.

    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
    -93.3388326
    Latitude
    37.2112561

    Comparable in this City

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      Springfield Triplex Investment Opportunity

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      Mixed-Use Property in Prime Location

      Versatile mixed-use property with office space and residential apartment.
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    • $185,000
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      Springfield Duplex with Storage Sheds

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    • $1,375,000
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      Renovated Multifamily Near MSU

      Six-unit apartment building near MSU with recent renovations.
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    • $265,000
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      All Brick Duplex in Springfield

      All brick duplex with metal roof in East Springfield.
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    • New
      $1,490,000
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      Springfield Multifamily Investment Opportunity

      Thirteen cash-flowing properties in Springfield, Missouri, offered as a package.
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    Similar Nearby for Sale

    • $219,900
      0.22 Acres

      Springfield Triplex Investment Opportunity

      Three bungalows near downtown Springfield, generating $2,020 monthly income.
      1701-1709 E Chestnut St, Springfield, MO 65802
      View Details
    • $449,900
      0.38 Acres

      Mixed-Use Property in Prime Location

      Versatile mixed-use property with office space and residential apartment.
      1213 Estate Ave E, Springfield, MO 65802
      View Details
    • $185,000
      1,664 SF

      Springfield Duplex with Storage Sheds

      One-level duplex with storage sheds and ample parking.
      1625 N Colgate Ave, Springfield, MO 65802
      View Details
    • $1,375,000
      7,080 SF

      Renovated Multifamily Near MSU

      Six-unit apartment building near MSU with recent renovations.
      1315 E Elm St, Springfield, MO 65802
      View Details
    • $265,000
      Pending

      All Brick Duplex in Springfield

      All brick duplex with metal roof in East Springfield.
      1938-40 E Madison St, Springfield, MO 65802
      View Details
    • New
      $1,490,000
      1,122 SF

      Springfield Multifamily Investment Opportunity

      Thirteen cash-flowing properties in Springfield, Missouri, offered as a package.
      3236 W Madison St, Springfield, MO 65802
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,038 SF

      Retail Space with Ample Parking

      Versatile retail space with high visibility and ample parking.
      629 S Scenic Ave, Springfield, MO 65802
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    • $12 SF/Yr
      28,800 SF

      Retail Space with High Visibility

      Retail spaces available on East Chestnut Expressway with high traffic.
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    • $10 SF/Yr
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      Chestnut Expressway Retail Space

      Prime Springfield Retail, 2400 sq ft
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    • $1,500 /Mo
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      Turnkey Dog Grooming Suite

      400 SF professional dog grooming suite for lease.
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    • $8 SF/Yr
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      Office/Warehouse Space Near I-44

      Office and warehouse space with fenced lot near I-44.
      3747 W Chestnut Expy, Springfield, MO 65802
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    • $3,900 /Mo
      2,808 SF

      Retail/Office Space with Warehouse

      Retail/office suites with warehouse space available for lease.
      1701 E Saint Louis St, Springfield, MO 65802
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    3041 Water St
    Springfield, MO 65802
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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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