Cape Girardeau is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Cape Girardeau are considered greater risk due to market dynamics. Interest rates for multifamily loans in Cape Girardeau are higher than the national average. Cape Girardeau apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Cape Girardeau.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Cape Girardeau are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.68% - 5.92% |
| 7 Year Fixed | 5.39% - 5.63% |
| 10 Year Fixed | 5.23% - 5.47% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Cape Girardeau.
The city of Cape Girardeau in Cape Girardeau County has a population of 40,559. The median rent in Cape Girardeau County for a 2 bedroom is $848. The median Cape Girardeau resident is 33 years old with a yearly income of $24,310. The average family has 3.03 members and a median household income of $45,733. Cape Girardeau has a 35% higher education rate. The unemployment rate in Cape Girardeau is 4.4%.
46.9% of Cape Girardeau households are renters.
33% median household income spent on rent.
Bedrooms |
Cape Girardeau County 1 |
Missouri 2 |
National 2 |
|---|---|---|---|
| Studio | $564 | $535 | $737 |
| 1 bedroom | $643 | $594 | $813 |
| 2 bedroom | $848 | $761 | $1,015 |
| 3 bedroom | $1,214 | $1,010 | $1,325 |
| 4 bedroom | $1,277 | $1,155 | $1,521 |
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