Restored Duplex with Central
For Sale
$595,000
901 E 39th Street, Kansas City, MO 64109
MULTI_FAMILY - Kansas City, MO
Property Size2,600 SF
Lot Size0.13 Acres
Price / SF$228.85
Days on Market93
Property Features for 901 E 39th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Bathroom 2
Parking features
Off Street
Subdivision
Troost Highlands
Elementary school district
Kansas City Mo
Middle school district
Kansas City Mo
High school district
Kansas City Mo
Directions
On South side of 39th Street between Campbell and Harrison.
Standard status
Active
APN
30-240-02-03-00-0-00-000
Lot size
0.13 Acres
Taxes and HOA fees
Tax Description
TROOST HIGHLANDS RESURVEY OF BLK 1 --- W 72.85' LOT 47 & W 7 2.85' OF LOT 48 LY S OF 39TH ST
Tax Annual Amount
5185
Legal Description
TROOST HIGHLANDS RESURVEY OF BLK 1 --- W 72.85' LOT 47 & W 7 2.85' OF LOT 48 LY S OF 39TH ST
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Electric
Water source
Public
Amenities
private patios or balconies
central air conditioning
in-unit washer and dryer
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Building materials
Brick/Mortar
Roof type
Synthetic
Listing Agency:
Compass Realty Group
(816) 280-2773
Listed By:
Parker Beck · License #000004727
(913) 375-3850
Added: May 11
Changed: Aug 4
Last Checked: Aug 11 at 10:06AM
MLS# 2619390
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 restored two-story brick duplex was constructed in 1920 and completed an extensive to-the-studs rehabilitation in 2021. The property includes two fully renovated 2-bedroom units, each designed with an approximately 1,300-square-foot footprint. Both units are furnished short-term rentals and feature private patios or balconies. Interiors were upgraded to Class A standards with stainless steel appliances, quartz countertops, new windows, in-unit washers and dryers, updated bathrooms and kitchens, new fixtures, new paint, and refinished flooring.
The building provides central air conditioning with forced air heating, and it has individual hot water heaters. Separate utility metering is in place for gas, electric, and water, supporting efficient operations. Significant infrastructure improvements include new electrical and plumbing service and a new sewer. Outdoor parking includes five off-street spaces. The exterior has also been refreshed with newer paint. Public water and public sewer service are provided, and the roof is synthetic.
Set on a 0.1291-acre lot, this duplex is zoned R-5 and is owner-operated, leased through Airbnb and Furnished Finder for traveling nurse and electrician programs.
The building provides central air conditioning with forced air heating, and it has individual hot water heaters. Separate utility metering is in place for gas, electric, and water, supporting efficient operations. Significant infrastructure improvements include new electrical and plumbing service and a new sewer. Outdoor parking includes five off-street spaces. The exterior has also been refreshed with newer paint. Public water and public sewer service are provided, and the roof is synthetic.
Set on a 0.1291-acre lot, this duplex is zoned R-5 and is owner-operated, leased through Airbnb and Furnished Finder for traveling nurse and electrician programs.
Key Highlights
- Two‑story brick duplex built in 1920; to‑the‑studs rehabilitation completed in 2021
- Two fully renovated 2‑bedroom units, each with an approximately 1,300‑square‑foot footprint
- Furnished short‑term rental setup with private patios or balconies
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
$30,329
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
5.10%
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%
$606,580
$606.6K
Cap Rate 7%
$433,271
$433.3K
Cap Rate 9%
$336,989
$337.0K
Market Conditions
NOI Build-Up for 2,600 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
$46.2K $17.76/SF
− Vacancy
−$2.8K −$1.10/SF
EGI
$43.3K $16.66/SF
− OpEx
−$13.0K −$5.00/SF
NOI
$30.3K $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%
$606,580
Cap Rate 7%
$433,271
Cap Rate 9%
$336,989
Alternative Uses
Best Use
Multifamily LT 5
$433.3K
$379.1K – $505.5K
NOI $30,329 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$398.8K
$349.0K – $465.3K
NOI $27,918 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$619.3K
$541.9K – $722.5K
NOI $43,351 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,064
Businesses Nearby
Explore this area
Business Placement
Demographics for 64109, MO
10,290
Population
6,103
Households
1.7
Avg Household Size
34
Median Age
35%
College-Educated
85%
High-School Grad
2.1 sq mi
ZIP Area
4,900
Density / Sq Mi
$42,861
Median Household Income
$38,585
Median Earnings
$919
Median Rent
$240,000
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 - Two fully renovated 2-bedroom units in a duplex zoned R-5, set up for furnished short-term rental use.
Where is this duplex located?
The property is located at 901 E 39th Street Kansas City, MO.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two‑story brick duplex built in 1920; to‑the‑studs rehabilitation completed in 2021; Two fully renovated 2‑bedroom units, each with an approximately 1,300‑square‑foot footprint; Furnished short‑term rental setup with private patios or balconies
