Duplex with Two-Car
For Sale
$245,000
4605 Appleton Avenue, Kansas City, MO 64133
DUPLEX - Other - Kansas City, MO
Property Size1,300 SF
Lot Size0.28 Acres
Price / SF$188.46
Days on Market426
Property Features for 4605 Appleton Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Laundry Room, Bedroom 3, Bathroom 1, Laundry Room, Dining Room, Bathroom 2, Bedroom 2
Parking features
Garage, Open
Patio and Porch features
Patio
Interior features
Ceiling Fan(s), Kitchen Island, Painted Cabinets, Walk-In Closet(s)
Appliances
Dishwasher, Disposal, Microwave, Refrigerator, Electric Range
Lot features
City Limits, City Lot
Elementary school
Norfleet
Middle school
Raytown
High school
Raytown
Elementary school district
Raytown
Middle school district
Raytown
High school district
Raytown
Directions
40 Hwy to Sterling Ave. Go South to 47th St. West to Appleton Ave, and north to address.
Subdivision
205 - Raytown Area
Standard status
Active
APN
32-610-22-33-00-0-00-000
Size
1,300 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Description
THE TOWNHOMES AT ROYAL VIEW MEADOWS 2ND PLAT---
Tax Annual Amount
4148
HOA Fee
$1,600 Annually
Legal Description
THE TOWNHOMES AT ROYAL VIEW MEADOWS 2ND PLAT---
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Electric
Water source
Public
Amenities
covered porch
vaulted ceiling
upgraded shower
dual vanities
walk in closet
open concept
large family room and dining areas
Building Details
Year built
2023
Flooring type
Vinyl
Building materials
Frame, Vinyl Siding
Roof type
Composition
Architectural style
Other
Listing Agency:
Keller Williams Platinum Prtnr · Keller Williams Realty
(816) 525-7000
Listed By:
Bill Reifeiss · License #2006007171
(816) 809-4545
Added: Jun 12, 2025
Changed: Aug 1
Last Checked: Aug 11 at 7:06PM
MLS# 2556337
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 property offers easy one-level living with a spacious open-concept design that connects the large family room and dining areas. The home features vinyl siding with luxury vinyl plank flooring and includes three bedrooms and two bathrooms. Interior details include a kitchen island, painted cabinets, ceiling fan(s), and walk-in closet(s), along with in-home laundry space. Appliances include a dishwasher, disposal, microwave, refrigerator, and electric range. Heating is forced air with electric cooling.
Built in 2023, the property sits on a 0.2793-acre lot and includes a two-car garage plus an additional open parking feature. A patio and covered porch provide outdoor space, while the roof is composition. Water source is public, and sewer is public sewer.
Set in a quiet location near Royal Meadows Golf Course, the address at 4605 Appleton Avenue also provides quick and easy access to I-70 for commuting.
Built in 2023, the property sits on a 0.2793-acre lot and includes a two-car garage plus an additional open parking feature. A patio and covered porch provide outdoor space, while the roof is composition. Water source is public, and sewer is public sewer.
Set in a quiet location near Royal Meadows Golf Course, the address at 4605 Appleton Avenue also provides quick and easy access to I-70 for commuting.
Key Highlights
- Open‑concept layout connects large family room and dining area
- Three bedrooms and two bathrooms with walk‑in closet(s) and ceiling fan(s)
- Vinyl siding with luxury vinyl plank flooring and 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
$14,857
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
6.06%
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%
$297,140
$297.1K
Cap Rate 7%
$212,243
$212.2K
Cap Rate 9%
$165,078
$165.1K
Market Conditions
NOI Build-Up for 1,300 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
$22.6K $17.40/SF
− Vacancy
−$1.4K −$1.07/SF
EGI
$21.2K $16.33/SF
− OpEx
−$6.4K −$4.90/SF
NOI
$14.9K $11.43/SF
Area
ZIP 64133
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%
$297,140
Cap Rate 7%
$212,243
Cap Rate 9%
$165,078
Alternative Uses
Best Use
Multifamily LT 5
$212.2K
$185.7K – $247.6K
NOI $14,857 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$194.8K
$170.5K – $227.3K
NOI $13,638 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$308.0K
$269.5K – $359.3K
NOI $21,558 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
Explore this area
Business Placement
Demographics for 64133, MO
35,259
Population
16,435
Households
2.1
Avg Household Size
41
Median Age
23%
College-Educated
93%
High-School Grad
17.0 sq mi
ZIP Area
2,074
Density / Sq Mi
$66,816
Median Household Income
$40,874
Median Earnings
$1,185
Median Rent
$165,700
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 - Vinyl-sided duplex ranch with an open layout, patio/covered porch, and a two-car garage with public utilities.
Where is this duplex located?
The property is located at 4605 Appleton Avenue Kansas City, MO.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Open‑concept layout connects large family room and dining area; Three bedrooms and two bathrooms with walk‑in closet(s) and ceiling fan(s); Vinyl siding with luxury vinyl plank flooring and composition roof
