631 Grant AveSpringfield, MO 65806

Property Details for 631 Grant Ave

Year built

2023

Lot size

0.22 AC

Property size (Sq ft)

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.

Location Insight

City

Springfield

County

Greene

State

Missouri

Latitude

37.2033

Longitude

-93.2993

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