Under Construction Duplex with
For Sale
$450,000
4527 Forest Avenue, Kansas City, MO 64110
MULTI_FAMILY - Kansas City, MO
Property Size2,127 SF
Lot Size0.10 Acres
Price / SF$211.57
Days on Market467
Property Features for 4527 Forest Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 1, Bathroom 2, Bathroom 3
Parking
1
Parking features
Off Street, On Street
Patio and Porch features
Porch
Appliances
Dishwasher, Disposal, Microwave, Electric Range, Stainless Steel Appliance(s)
Subdivision
Llewellyn Annex
Elementary school district
Kansas City Mo
Middle school district
Kansas City Mo
High school district
Kansas City Mo
Directions
Troost Avenue to 44th Street, East on 44th Street to Forest Avenue, South on Forest Avenue to address on the left.
Standard status
Active
APN
30-620-20-14-00-0-00-000
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
176
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
2025
Floors in Building
2
Number of units
2
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
Compass Realty Group
(816) 280-2773
Listed By:
Matt Zammar · License #2007013654
(816) 916-4292
Added: May 15, 2025
Changed: Aug 4
Last Checked: Aug 24 at 3:06AM
MLS# 2549026
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.
Under construction duplex at 4527 Forest Avenue, Kansas City, MO 64110, built in 2025 with vinyl siding, a composition roof, and a porch. The property consists of two condominium-style units, each featuring two bedrooms and two bathrooms, with modern finishes. Unit sizes are described as approximately 980 square feet for the first-floor unit and approximately 1,147 square feet for the second-floor unit. Appliances listed include a dishwasher, disposal, microwave, electric range, and stainless steel appliance(s). Heating and cooling are electric. Parking is available both off street and on street.
The remarks describe a full property tax abatement through 2034. Water source is public, and sewer is public sewer.
The duplex offers flexibility for an owner-occupant or a rental setup, with the option to purchase both condominium A and B.
The remarks describe a full property tax abatement through 2034. Water source is public, and sewer is public sewer.
The duplex offers flexibility for an owner-occupant or a rental setup, with the option to purchase both condominium A and B.
Key Highlights
- Two condominium‑style units, each with 2 bedrooms and 2 bathrooms
- Approximately 980 SF first‑floor unit and approximately 1,147 SF second‑floor unit
- Built in 2025; under construction with vinyl siding and a composition roof
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
$24,811
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
5.51%
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%
$496,220
$496.2K
Cap Rate 7%
$354,443
$354.4K
Cap Rate 9%
$275,678
$275.7K
Market Conditions
NOI Build-Up for 2,127 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
$37.8K $17.76/SF
− Vacancy
−$2.3K −$1.10/SF
EGI
$35.4K $16.66/SF
− OpEx
−$10.6K −$5.00/SF
NOI
$24.8K $11.66/SF
Area
Kansas City, MO
Vacancy
6.17%
Lease Rate
$17.76 /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%
$496,220
Cap Rate 7%
$354,443
Cap Rate 9%
$275,678
Alternative Uses
Best Use
Multifamily LT 5
$354.4K
$310.1K – $413.5K
NOI $24,811 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$326.3K
$285.5K – $380.7K
NOI $22,839 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$506.6K
$443.3K – $591.1K
NOI $35,464 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
679
Businesses Nearby
Explore this area
Business Placement
Demographics for 64110, MO
15,874
Population
8,655
Households
1.8
Avg Household Size
32
Median Age
50%
College-Educated
95%
High-School Grad
3.0 sq mi
ZIP Area
5,291
Density / Sq Mi
$59,710
Median Household Income
$38,852
Median Earnings
$1,155
Median Rent
$238,200
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 - Under construction duplex built in 2025 with two units, electric heating and cooling, and public water and sewer.
Where is this duplex located?
The property is located at 4527 Forest Avenue Kansas City, MO.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two condominium‑style units, each with 2 bedrooms and 2 bathrooms; Approximately 980 SF first‑floor unit and approximately 1,147 SF second‑floor unit; Built in 2025; under construction with vinyl siding and a composition roof
