New Half
For Sale
$219,900
32 E 7th Street, Adrian, MO 64720
Residential, Adrian, MO
Property Size1,255 SF
Lot Size0.23 Acres
Price / SF$175.22
Days on Market208
Property Features for 32 E 7th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 3
Elementary school
Adrian
Middle school
Adrian
High school
Adrian
Elementary school district
Adrian
Middle school district
Adrian
High school district
Adrian
Directions
Take exit 141 into Adrian and turn west. At the four-way, turn right (north) onto Old 71 Hwy and continue for 0.5 miles. Turn left (west) onto 8th street and continue for 0.7 miles then turn left (south) onto Virginia street. Then turn right (west) onto 7th street and the home will be on the right.
Subdivision
230 - Bates County, Mo
Standard status
Active
APN
999999
Size
1,255 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
The South 100 feet of Lot 255, ORIGINAL TOWN OF ADRIAN, Bates County, Missouri, according to the recorded plat thereof.
Legal Description
The South 100 feet of Lot 255, ORIGINAL TOWN OF ADRIAN, Bates County, Missouri, according to the recorded plat thereof.
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Electric
Water source
Public
Building Details
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
Keller Williams Southland · Keller Williams Realty
(816) 331-2323
Listed By:
Caitlyn Lacy · License #1910917
(660) 351-4306
Added: Feb 9
Changed: Sep 2
Last Checked: Sep 5 at 1:06AM
MLS# 2601146
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 planned half duplex offers 1,255 square feet on one level with three bedrooms and two bathrooms. Construction has not started. The design includes a kitchen with granite countertops, a mudroom near the garage entrance, and a primary suite with a walk-in closet. Its bathroom is arranged with a double vanity, cabinet storage, and an Onyx shower.
The property includes a 0.2296-acre lot at 32 E 7th Street in Adrian, Missouri. Proposed building materials and systems include vinyl siding, a composition roof, electric heating with a heat pump, and electric cooling. Public water and public sewer serve the property.
The property includes a 0.2296-acre lot at 32 E 7th Street in Adrian, Missouri. Proposed building materials and systems include vinyl siding, a composition roof, electric heating with a heat pump, and electric cooling. Public water and public sewer serve the property.
Key Highlights
- Planned 1,255‑square‑foot half duplex with three bedrooms and two bathrooms
- Single‑level layout with an attached garage entrance and mudroom
- Primary suite includes a walk‑in closet and private bathroom
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
$13,166
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
5.99%
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%
$263,320
$263.3K
Cap Rate 7%
$188,086
$188.1K
Cap Rate 9%
$146,289
$146.3K
Market Conditions
NOI Build-Up for 1,255 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
$25.6K $20.40/SF
− Vacancy
−$1.7K −$1.33/SF
EGI
$23.9K $19.07/SF
− OpEx
−$10.8K −$8.58/SF
NOI
$13.2K $10.49/SF
Area
Bates County, MO
Vacancy
6.50%
Lease Rate
$20.40 /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%
$263,320
Cap Rate 7%
$188,086
Cap Rate 9%
$146,289
Alternative Uses
Best Use
Apartment 5plus
$188.1K
$164.6K – $219.4K
NOI $13,166 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$277.3K
$242.6K – $323.5K
NOI $19,411 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
Explore this area
Business Placement
Demographics for 64720, MO
3,869
Population
1,735
Households
2.2
Avg Household Size
43
Median Age
12%
College-Educated
91%
High-School Grad
132.8 sq mi
ZIP Area
29
Density / Sq Mi
$72,619
Median Household Income
$39,219
Median Earnings
$754
Median Rent
$163,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Planned single-level residence with modern finishes, a private primary suite, and an attached garage entry mudroom.
Where is this residential income property located?
The property is located at 32 E 7th Street Adrian, MO.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Planned 1,255‑square‑foot half duplex with three bedrooms and two bathrooms; Single‑level layout with an attached garage entrance and mudroom; Primary suite includes a walk‑in closet and private bathroom
