Duplex With Finished
For Sale
$235,000
Pending
8855 Ann Avenue, Kansas City, KS 66112
DUPLEX - Kansas City, KS
Property Size1,384 SF
Lot Size0.26 Acres
Days on Market118
Property Features for 8855 Ann Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Basement, Bathroom 1, Bedroom 2
Basement
Sump Pump, Walk-Out Access
Subdivision
Foxmoor Phase II
Elementary school district
Kansas City Ks
Middle school district
Kansas City Ks
High school district
Kansas City Ks
Directions
I-35 S to exit 8B for I-298 N toward KCI airport. Use the left 2 lanes to take exit 3B for I-635 S toward Kansas. Continue on 635S to exit 4B for I-70 W toward Topeka. Use the right lane to take exit 411B for I-435 N. Keep right, follow signs for State Ave. E. Merge onto State Ave. to
Standard status
Pending
APN
232213
Size
1,384 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Annual Amount
2347
Utilities
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Amenities
deck
Building Details
Year built
2009
Building materials
Frame, Vinyl Siding
Roof type
Composition
Listing Agency:
ReeceNichols- Leawood Town Center · Reece & Nichols
(913) 345-0700
Listed By:
Angela Lofton · License #SP00222850
(816) 507-4570
Added: Apr 16
Changed: Aug 7
Last Checked: Aug 11 at 8:06AM
MLS# 2614985
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 was fully remodeled and updated throughout. The newly remodeled kitchen includes plenty of cabinet space and all new stainless appliances. Updates also include new flooring, new roof, blinds, paint, and light fixtures. HVAC and the water heater are brand new, and maintenance-free vinyl siding is described as being in excellent condition. The main floor includes a large master, and the finished lower level walk-out offers an additional bedroom and full bath, with a second family room that could be converted into a third bedroom. Additional features include plenty of storage and a garage, and there is no HOA.
Outside, the home offers a deck overlooking a treed backyard. The location provides easy highway access and is minutes from Legends.
Built in 2009, the property sits on a 0.26-acre lot and includes 1,384 square feet of interior space. Utilities and services include public water, and the home is heated and cooled electrically.
Outside, the home offers a deck overlooking a treed backyard. The location provides easy highway access and is minutes from Legends.
Built in 2009, the property sits on a 0.26-acre lot and includes 1,384 square feet of interior space. Utilities and services include public water, and the home is heated and cooled electrically.
Key Highlights
- 0.26‑acre duplex lot with deck overlooking a treed backyard
- Finished lower level walk‑out with bedroom and full bath
- New kitchen with cabinet space and all new stainless appliances
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
$12,545
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
5.34%
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%
$250,900
$250.9K
Cap Rate 7%
$179,214
$179.2K
Cap Rate 9%
$139,389
$139.4K
Market Conditions
NOI Build-Up for 1,384 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
$19.1K $13.80/SF
− Vacancy
−$1.2K −$0.85/SF
EGI
$17.9K $12.95/SF
− OpEx
−$5.4K −$3.88/SF
NOI
$12.5K $9.06/SF
Area
Kansas City, KS
Vacancy
6.17%
Lease Rate
$13.80 /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%
$250,900
Cap Rate 7%
$179,214
Cap Rate 9%
$139,389
Alternative Uses
Best Use
Multifamily LT 5
$179.2K
$156.8K – $209.1K
NOI $12,545 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$164.7K
$144.1K – $192.2K
NOI $11,530 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$229.3K
$200.6K – $267.5K
NOI $16,050 @ 7.0% cap · market cap 6.83%
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
114
Businesses Nearby
Explore this area
Business Placement
Demographics for 66112, KS
12,507
Population
5,512
Households
2.3
Avg Household Size
36
Median Age
29%
College-Educated
88%
High-School Grad
5.5 sq mi
ZIP Area
2,274
Density / Sq Mi
$62,824
Median Household Income
$38,441
Median Earnings
$1,132
Median Rent
$186,300
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 - Renovated duplex features a finished walk-out lower level with a bedroom and full bath, plus a deck overlooking a treed yard.
Where is this duplex located?
The property is located at 8855 Ann Avenue Kansas City, KS.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 0.26‑acre duplex lot with deck overlooking a treed backyard; Finished lower level walk‑out with bedroom and full bath; New kitchen with cabinet space and all new stainless appliances
