New Two-Story
For Sale
$275,000
1109 Kings Highway, Independence, MO 64050
DUPLEX - Independence, MO
Property Size1,350 SF
Lot Size0.09 Acres
Price / SF$203.70
Days on Market8
Property Features for 1109 Kings Highway
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 3, Bedroom 2, Bathroom 1
Parking features
Garage
Patio and Porch features
Patio
Appliances
Dishwasher, Dryer, Microwave, Refrigerator, Electric Range, Stainless Steel Appliance(s), Washer
Elementary school district
Independence
Middle school district
Independence
High school district
Independence
Directions
From 23rd and Lee's Summit Road Go West On 23rd To Kings Highway Then North On Kings Highway To Property On The Left.
Subdivision
206 - Independence Area
Standard status
Active
APN
26620195400000000
Size
1,350 SF
Lot size
0.09 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
2026
Flooring type
Vinyl
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
RE/MAX Premier Properties · RE/MAX International
(816) 416-7090
Listed By:
Harry Meierarend IV · License #2014028599
(816) 258-0479
Added: Aug 4
Changed: Aug 5
Last Checked: Aug 11 at 10:06PM
MLS# 2635185
Copyright © 2026 Heartland Multiple Listing Service. 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 duplex is under construction with two two-story residential units. Each unit includes three bedrooms, two-and-a-half bathrooms, an open-concept living arrangement, and a private primary suite with an attached bathroom. Kitchens are equipped with stainless steel appliances, soft-close cabinetry, and natural light. Vinyl flooring, vinyl siding, electric heating and cooling, composition roofing, and all-new systems are planned throughout the property.
Each residence includes an attached two-car garage, providing dedicated parking and storage, along with a private patio. The property sits on a 0.0943-acre lot and is served by public water and public sewer. Scheduled for completion in 2026, the duplex offers a new-build configuration for residential rental use or an owner-occupant arrangement.
Each residence includes an attached two-car garage, providing dedicated parking and storage, along with a private patio. The property sits on a 0.0943-acre lot and is served by public water and public sewer. Scheduled for completion in 2026, the duplex offers a new-build configuration for residential rental use or an owner-occupant arrangement.
Key Highlights
- Two‑unit duplex with two‑story layouts
- Each unit has 3 bedrooms and 2.5 bathrooms
- Attached 2‑car garage for each residence
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
$15,428
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
5.61%
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%
$308,560
$308.6K
Cap Rate 7%
$220,400
$220.4K
Cap Rate 9%
$171,422
$171.4K
Market Conditions
NOI Build-Up for 1,350 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
$23.5K $17.40/SF
− Vacancy
−$1.4K −$1.07/SF
EGI
$22.0K $16.33/SF
− OpEx
−$6.6K −$4.90/SF
NOI
$15.4K $11.43/SF
Area
Independence, MO
Vacancy
6.17%
Lease Rate
$17.40 /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%
$308,560
Cap Rate 7%
$220,400
Cap Rate 9%
$171,422
Alternative Uses
Best Use
Multifamily LT 5
$220.4K
$192.9K – $257.1K
NOI $15,428 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$202.3K
$177.0K – $236.0K
NOI $14,162 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$399.0K
$349.1K – $465.5K
NOI $27,929 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
309
Businesses Nearby
Explore this area
Business Placement
Demographics for 64050, MO
22,223
Population
10,338
Households
2.1
Avg Household Size
39
Median Age
15%
College-Educated
87%
High-School Grad
12.9 sq mi
ZIP Area
1,723
Density / Sq Mi
$46,561
Median Household Income
$36,084
Median Earnings
$915
Median Rent
$137,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two rental units feature private suites, attached garages, and energy-efficient construction in Independence.
Where is this duplex located?
The property is located at 1109 Kings Highway Independence, MO.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two‑unit duplex with two‑story layouts; Each unit has 3 bedrooms and 2.5 bathrooms; Attached 2‑car garage for each residence
