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E Street Apartments 1147 Elm St 18 Unit Apartment Building $1,475,000 ($81,944/Unit) 7.19% Cap Rate Springfield, MO 65806
EXECUTIVE SUMMARY
OVERVIEW:
• Two student housing properties less than a 10-minute
walk from Missouri State University
• Less than 1 mile from Downtown Springfield
• Offering recently renovated 2-bed 1-bath units for
students
MISSOURI STATE UNIVERSITY:
• Located 1/2 mile away from downtown Springfield,
MSU is home to more than 24,000 students
• University enrollment has steadily increased by more
than 5% since 2015
• A member of the NCAA Division I Mid-American
Conference, it is the state's 2nd largst university
campus
OPPORTUNITY:
• Well-maintained and well-located assets with the
ability to draw from a student population of more than
24,000
• Potential to drive rents closer to market-leading
properties with stronger amenity sets
• Two student housing properties less than a 10-minute
walk from Missouri State University
• Less than 1 mile from Downtown Springfield
• Offering recently renovated 2-bed 1-bath units for
students
MISSOURI STATE UNIVERSITY:
• Located 1/2 mile away from downtown Springfield,
MSU is home to more than 24,000 students
• University enrollment has steadily increased by more
than 5% since 2015
• A member of the NCAA Division I Mid-American
Conference, it is the state's 2nd largst university
campus
OPPORTUNITY:
• Well-maintained and well-located assets with the
ability to draw from a student population of more than
24,000
• Potential to drive rents closer to market-leading
properties with stronger amenity sets
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,475,000 | Building Class | C |
| Price Per Unit | $81,944 | Lot Size | 0.25 AC |
| Sale Type | Investment | Building Size | 13,880 SF |
| Cap Rate | 7.19% | Average Occupancy | 100% |
| No. Units | 18 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1987 |
| Property Subtype | Apartment | Parking Ratio | 1.01/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | MFR - Multi-family residential | ||
| Price | $1,475,000 |
| Price Per Unit | $81,944 |
| Sale Type | Investment |
| Cap Rate | 7.19% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 13,880 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1987 |
| Parking Ratio | 1.01/1,000 SF |
| Zoning | MFR - Multi-family residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Recycling
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 18 | $974.00 | 700 |
Walk Score®
Very Walkable (75)
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $158,010 (2025) | |
| Land Assessment | $40,570 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $117,440 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$40,570 (2025)
Improvements Assessment
$117,440 (2025)
Total Assessment
$158,010 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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E Street Apartments | 1147 Elm St
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