Duplex with Converted
For Sale
$230,000
1302 Laurel St, Kearney, MO 64060
Updated duplex with flexible living space, fenced outdoor area, and access to nearby schools, parks, shopping, and dining.
Property Size2,280 SF
Price / SF$100.88
Days on Market31
Property Features for 1302 Laurel St
General Information
Standard status
Active
Size
2,280 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Amenities
fenced backyard
storage shed
Building Details
Year Built
1986
Listing Agency:
Golden Oak Real Estate, LLC
(816) 224-5650
Listed By:
Amy Arndorfer
(816) 224-5650
Source:
Amysold
Added: Jul 30
Changed: Aug 28
Last Checked: Aug 26 at 12:29PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Golden Oak Real Estate, LLC
Investment Insights
Based on property information with market context.
This duplex offers 2,280 square feet of residential space and includes a unit with 3 bedrooms, 2.5 bathrooms, and a practical floor plan. The former garage has been converted into additional living space that can accommodate a family room, home office, playroom, or workout area. New flooring has been installed throughout the home.
Outdoor features include a fully fenced backyard, storage shed, and wooded views along the rear of the property. The home was built in 1986 and is located near schools, parks, shopping, dining, and highway access in Kearney, Missouri. The property may suit an investor or an owner-occupant seeking rental income, as described in the property information.
Outdoor features include a fully fenced backyard, storage shed, and wooded views along the rear of the property. The home was built in 1986 and is located near schools, parks, shopping, dining, and highway access in Kearney, Missouri. The property may suit an investor or an owner-occupant seeking rental income, as described in the property information.
Key Highlights
- Duplex with 2,280 square feet of residential space
- Unit includes 3 bedrooms and 2.5 bathrooms
- Converted garage provides additional flexible living space
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
$19,317
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
8.40%
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%
$386,340
$386.3K
Cap Rate 7%
$275,957
$276.0K
Cap Rate 9%
$214,633
$214.6K
Market Conditions
NOI Build-Up for 2,280 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
$38.9K $17.04/SF
− Vacancy
−$3.7K −$1.64/SF
EGI
$35.1K $15.40/SF
− OpEx
−$15.8K −$6.93/SF
NOI
$19.3K $8.47/SF
Area
Clay County, MO
Vacancy
9.60%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
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%
$386,340
Cap Rate 7%
$275,957
Cap Rate 9%
$214,633
Alternative Uses
Best Use
Multifamily LT 5
$310.8K
$272.0K – $362.6K
NOI $21,757 @ 7.0% cap · market cap 9.46%
Second Best
Apartment 5plus
$276.0K
$241.5K – $322.0K
NOI $19,317 @ 7.0% cap · market cap 8.40%
Theoretical Best
Office A
$698.1K
$610.8K – $814.4K
NOI $48,865 @ 7.0% cap · market cap 21.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
217
Businesses Nearby
Explore this area
Business Placement
Demographics for 64060, MO
15,340
Population
6,641
Households
2.3
Avg Household Size
41
Median Age
39%
College-Educated
97%
High-School Grad
58.6 sq mi
ZIP Area
262
Density / Sq Mi
$107,626
Median Household Income
$58,227
Median Earnings
$1,096
Median Rent
$322,100
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 - Updated duplex with flexible living space, fenced outdoor area, and access to nearby schools, parks, shopping, and dining.
Where is this duplex located?
The property is located at 1302 Laurel St Kearney, MO.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Duplex with 2,280 square feet of residential space; Unit includes 3 bedrooms and 2.5 bathrooms; Converted garage provides additional flexible living space
