Duplex with Converted Garage Flex
For Sale
$230,000
Pending
1302 Laurel Street, Kearney, MO 64060
Residential, Traditional, Kearney, MO
Property Size2,280 SF
Lot Size0.25 Acres
Days on Market35
Property Features for 1302 Laurel Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 3
Parking features
Garage
Patio and Porch features
Patio, Deck
Interior features
Ceiling Fan(s)
Appliances
Dishwasher, Disposal, Electric Range
Subdivision
Southbrook
Lot features
Estate Lot
Elementary school district
Kearney
Middle school district
Kearney
High school district
Kearney
Directions
I-35 To 92 Hwy E. To Hwy 33 So. To Southbrook, Left Across Dam,1st Left
Standard status
Pending
APN
07-913-00-14-009.06
Size
2,280 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Description
lot 153, Southbrook, 9th Plat, a subdivision in Kearney, Clay County, Missouri
Tax Annual Amount
1990
Legal Description
lot 153, Southbrook, 9th Plat, a subdivision in Kearney, Clay County, Missouri
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric
Water source
Public
Amenities
fenced backyard
storage shed
Building Details
Year built
1986
Flooring type
Tile, Vinyl, Carpet
Building materials
Vinyl Siding, Wood Siding
Roof type
Composition
Architectural style
Other
Listing Agency:
Premium Realty Group LLC
(816) 224-5650
Listed By:
Amy Arndorfer · License #2000156181
(816) 215-9731
Added: Jul 27
Changed: Aug 19
Last Checked: Aug 30 at 1:06PM
MLS# 2633873
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 on Laurel Street in Kearney is set up for flexible living, with a converted garage that adds additional interior space. The home includes three bedrooms and 2.5 bathrooms, ceiling fan(s), and a mix of vinyl, tile, and carpet flooring. Heating is provided by natural gas and cooling is electric. Appliances include a dishwasher, disposal, and electric range. Exterior features include a deck and patio, a fully fenced backyard, and a storage shed. The roof is composition, with vinyl and wood siding.
The property sits on a 0.25-acre lot with 2,280 square feet of space and is served by public water and public sewer. Constructed in 1986, it includes a garage as part of the overall layout (with the garage converted into living space).
Conveniently positioned near schools, parks, shopping, dining, and with easy highway access, the layout can work for both owner-occupants and investors looking to add to a rental portfolio.
The property sits on a 0.25-acre lot with 2,280 square feet of space and is served by public water and public sewer. Constructed in 1986, it includes a garage as part of the overall layout (with the garage converted into living space).
Conveniently positioned near schools, parks, shopping, dining, and with easy highway access, the layout can work for both owner-occupants and investors looking to add to a rental portfolio.
Key Highlights
- Duplex on 0.25‑acre lot with 2,280 SF total space
- Converted garage provides added living space for flexible use
- Three bedrooms and 2.5 bathrooms with vinyl, tile, and carpet flooring
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
$19,317
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
8.40%
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%
$386,340
$386.3K
Cap Rate 7%
$275,957
$276.0K
Cap Rate 9%
$214,633
$214.6K
Market Conditions
NOI Build-Up for 2,280 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
$38.9K $17.04/SF
− Vacancy
−$3.7K −$1.64/SF
EGI
$35.1K $15.40/SF
− OpEx
−$15.8K −$6.93/SF
NOI
$19.3K $8.47/SF
Area
Clay County, MO
Vacancy
9.60%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
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%
$386,340
Cap Rate 7%
$275,957
Cap Rate 9%
$214,633
Alternative Uses
Best Use
Multifamily LT 5
$310.8K
$272.0K – $362.6K
NOI $21,757 @ 7.0% cap · market cap 9.46%
Second Best
Apartment 5plus
$276.0K
$241.5K – $322.0K
NOI $19,317 @ 7.0% cap · market cap 8.40%
Theoretical Best
Office A
$698.1K
$610.8K – $814.4K
NOI $48,865 @ 7.0% cap · market cap 21.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
217
Businesses Nearby
Explore this area
Business Placement
Demographics for 64060, MO
15,340
Population
6,641
Households
2.3
Avg Household Size
41
Median Age
39%
College-Educated
97%
High-School Grad
58.6 sq mi
ZIP Area
262
Density / Sq Mi
$107,626
Median Household Income
$58,227
Median Earnings
$1,096
Median Rent
$322,100
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 - Duplex offers three bedrooms, a converted garage flex space, and a fully fenced backyard with deck and patio.
Where is this duplex located?
The property is located at 1302 Laurel Street Kearney, MO.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Duplex on 0.25‑acre lot with 2,280 SF total space; Converted garage provides added living space for flexible use; Three bedrooms and 2.5 bathrooms with vinyl, tile, and carpet flooring
