New Construction
For Sale
$265,000
1109 Kings Highway, Independence, MO 64050
Residential, Independence, MO
Property Size1,350 SF
Lot Size0.09 Acres
Price / SF$196.30
Days on Market50
Property Features for 1109 Kings Highway
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 2, Bathroom 1, Bedroom 3, Bathroom 3, Bathroom 2, Bedroom 1
Parking features
Garage
Patio and Porch features
Patio
Appliances
Dishwasher, Dryer, Microwave, Refrigerator, Electric Range, Stainless Steel Appliance(s), Washer
Elementary school district
Independence
Middle school district
Independence
High school district
Independence
Directions
From 23rd and Lee's Summit Road Go West On 23rd To Kings Highway Then North On Kings Highway To Property On The Left.
Subdivision
206 - Independence Area
Standard status
Active
APN
26620195400000000
Size
1,350 SF
Lot size
0.09 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
2026
Flooring type
Vinyl
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
RE/MAX Premier Properties · RE/MAX International
(816) 416-7090
Listed By:
Harry Meierarend IV · License #2014028599
(816) 258-0479
Added: Aug 4
Changed: Sep 17
Last Checked: Sep 22 at 4:06AM
MLS# 2635185
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 for completion in 2026, this duplex contains two attached two-story residences. Each unit includes 3 bedrooms, 2.5 bathrooms, an open living arrangement, a private primary suite with an en-suite bathroom, two additional bedrooms, and a full hall bathroom. The listed property size is 1,350 square feet.
Interior features include contemporary kitchens with soft-close cabinetry, stainless steel appliances, vinyl flooring, and abundant natural light. Each residence has an attached 2-car garage, patio space, electric heating and cooling, and newly installed systems. The building has vinyl siding, a composition roof, public water, and public sewer. The property is located at 1109 Kings Highway in Independence, Missouri.
Interior features include contemporary kitchens with soft-close cabinetry, stainless steel appliances, vinyl flooring, and abundant natural light. Each residence has an attached 2-car garage, patio space, electric heating and cooling, and newly installed systems. The building has vinyl siding, a composition roof, public water, and public sewer. The property is located at 1109 Kings Highway in Independence, Missouri.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2.5 bathrooms in each residence
- Two‑story layouts with private primary suites and en‑suite bathrooms
- Attached 2‑car garage serving each unit
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
$15,428
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
5.82%
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%
$308,560
$308.6K
Cap Rate 7%
$220,400
$220.4K
Cap Rate 9%
$171,422
$171.4K
Market Conditions
NOI Build-Up for 1,350 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
$23.5K $17.40/SF
− Vacancy
−$1.4K −$1.07/SF
EGI
$22.0K $16.33/SF
− OpEx
−$6.6K −$4.90/SF
NOI
$15.4K $11.43/SF
Area
Independence, MO
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%
$308,560
Cap Rate 7%
$220,400
Cap Rate 9%
$171,422
Alternative Uses
Best Use
Multifamily LT 5
$220.4K
$192.9K – $257.1K
NOI $15,428 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$202.3K
$177.0K – $236.0K
NOI $14,162 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$399.0K
$349.1K – $465.5K
NOI $27,929 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
Explore this area
Business Placement
Demographics for 64050, MO
22,223
Population
10,338
Households
2.1
Avg Household Size
39
Median Age
15%
College-Educated
87%
High-School Grad
12.9 sq mi
ZIP Area
1,723
Density / Sq Mi
$46,561
Median Household Income
$36,084
Median Earnings
$915
Median Rent
$137,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two attached residences offer modern layouts, private suites, and dedicated garage parking in a low-maintenance configuration.
Where is this duplex located?
The property is located at 1109 Kings Highway Independence, MO.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2.5 bathrooms in each residence; Two‑story layouts with private primary suites and en‑suite bathrooms; Attached 2‑car garage serving each unit
