Duplex with Walk-Out
New
For Sale
$220,000
1203 NW Scenic Drive, Grain Valley, MO 64029
Residential, Traditional, Grain Valley, MO
Property Size1,206 SF
Lot Size0.11 Acres
Price / SF$182.42
Days on Market3
Property Features for 1203 NW Scenic Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 3, Basement, Bedroom 3, Bedroom 2, Bathroom 1, Bathroom 2
Parking features
Garage
Patio and Porch features
Porch
Fencing
Privacy
Basement
Walk-Out Access, Concrete, Unfinished
Appliances
Dishwasher, Dryer, Microwave, Refrigerator, Electric Range, Washer
Subdivision
Valley Hills Estates
Elementary school
Matthews
Middle school
Grain Valley North
High school
Grain Valley
Elementary school district
Grain Valley
Middle school district
Grain Valley
High school district
Grain Valley
Directions
I-70 to Adams Dairy Parkway exit. South on Adams Dairy Pkwy, left on NE Coronado Dr (turns into R.D. Mize Rd), right on NW Meadow Rd, right on NW Scenic Dr. Home will be on the left.
Standard status
Active
APN
37-920-03-47-00-0-00-000
Size
1,206 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
VALLEY HILLS ESTATES 2ND PLAT ---PT LOT 117 DAF : BEG NW COR SD LOT 117 TH N ALG CURV RI RAD 225' DIST 5.97' TH N 62 DEG 53 MIN 04 SEC E 35.70' TO TRU POB TH N 62 DEG 53 MIN 04 SEC
Tax Annual Amount
2631
Legal Description
VALLEY HILLS ESTATES 2ND PLAT ---PT LOT 117 DAF : BEG NW COR SD LOT 117 TH N ALG CURV RI RAD 225' DIST 5.97' TH N 62 DEG 53 MIN 04 SEC E 35.70' TO TRU POB TH N 62 DEG 53 MIN 04 SEC
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Electric
Water source
Public
Amenities
fenced backyard
Building Details
Year built
2006
Flooring type
Carpet, Laminate, Vinyl
Building materials
Vinyl Siding
Roof type
Composition
Architectural style
Other
Listing Agency:
ReeceNichols - Lees Summit · Reece & Nichols
(816) 524-7272
Listed By:
Sherri Oaks · License #2004025195
(816) 365-8660
Added: Sep 15
Changed: Sep 16
Last Checked: Sep 17 at 12:06PM
MLS# 2642278
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 provides 1,206 square feet on a 0.1136-acre lot, with three bedrooms, three bathrooms, and a walk-out basement. The basement is unfinished but includes a full bathroom, creating additional space for storage or future use. The home was professionally cleaned and freshly painted, while the flooring includes carpet, vinyl, and laminate. A composition roof is approximately 5 years old.
The property includes a garage, porch, privacy fencing, public water, and public sewer. Appliances convey with the property, including a dishwasher, dryer, microwave, refrigerator, electric range, and washer. Forced-air heating and electric cooling serve the residence.
The property includes a garage, porch, privacy fencing, public water, and public sewer. Appliances convey with the property, including a dishwasher, dryer, microwave, refrigerator, electric range, and washer. Forced-air heating and electric cooling serve the residence.
Key Highlights
- 1,206‑square‑foot duplex on a 0.1136‑acre lot
- Walk‑out unfinished basement with a full bathroom
- Three bedrooms and three bathrooms
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
$12,044
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
5.47%
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%
$240,880
$240.9K
Cap Rate 7%
$172,057
$172.1K
Cap Rate 9%
$133,822
$133.8K
Market Conditions
NOI Build-Up for 1,206 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
$18.5K $15.36/SF
− Vacancy
−$1.3K −$1.09/SF
EGI
$17.2K $14.27/SF
− OpEx
−$5.2K −$4.28/SF
NOI
$12.0K $9.99/SF
Area
Jackson County, MO
Vacancy
7.12%
Lease Rate
$15.36 /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%
$240,880
Cap Rate 7%
$172,057
Cap Rate 9%
$133,822
Alternative Uses
Best Use
Multifamily LT 5
$172.1K
$150.6K – $200.7K
NOI $12,044 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$158.8K
$139.0K – $185.3K
NOI $11,118 @ 7.0% cap · market cap 5.05%
Theoretical Best
Warehouse
$317.2K
$277.5K – $370.1K
NOI $22,203 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
171
Businesses Nearby
Explore this area
Business Placement
Demographics for 64029, MO
20,054
Population
8,185
Households
2.5
Avg Household Size
36
Median Age
30%
College-Educated
95%
High-School Grad
31.8 sq mi
ZIP Area
631
Density / Sq Mi
$89,074
Median Household Income
$50,332
Median Earnings
$1,369
Median Rent
$284,700
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Three-bedroom layout with a fenced backyard, garage, and included washer and dryer.
Where is this duplex located?
The property is located at 1203 NW Scenic Drive Grain Valley, MO.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 1,206‑square‑foot duplex on a 0.1136‑acre lot; Walk‑out unfinished basement with a full bathroom; Three bedrooms and three bathrooms
