Raised-Ranch Duplex with
For Sale
$439,950
607-609 E 117 Street, Kansas City, MO 64131
Two residential units offer private driveways, finished lower levels, and flexible bonus or office space.
Property Size2,516 SF
Price / SF$174.86
Days on Market11
Property Features for 607-609 E 117 Street
General Information
Standard status
Active
Size
2,516 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$5,654
Building Details
Building Size
2,516 SF
Stories
1
Listing Agency:
RE/MAX State Line
(913) 649-3100
Listed By:
Tina Gaughan
(913) 649-3100
Source:
Coloniallistings
Added: Aug 2
Changed: Aug 3
Last Checked: Aug 11 at 1:22PM
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 RE/MAX State Line
Investment Insights
Based on property information with market context.
This 2,516-square-foot duplex includes both 607 and 609 E 117 Street and is offered as one property. The raised-ranch design provides two residential units, each with two bedrooms, private driveway access, two oversized garages, an eat-in kitchen, a family room with fireplace, laundry space, and storage. Finished lower levels add additional living or office space, while walk-outs open to a shared patio area.
The 609 unit includes 2.5 baths, a second family room, and a bonus room suitable for office, television, craft, or other uses; 607 has three baths and a finished lower-level home office. Three brick sides support low-maintenance ownership, and an inground sprinkler system serves the lawn. Unit 607 is occupied under a month-to-month lease. The property is near Red Bridge Shopping Center, Mid Continent Library, Minor Park Golf Course, I-435, and nearby schools.
The 609 unit includes 2.5 baths, a second family room, and a bonus room suitable for office, television, craft, or other uses; 607 has three baths and a finished lower-level home office. Three brick sides support low-maintenance ownership, and an inground sprinkler system serves the lawn. Unit 607 is occupied under a month-to-month lease. The property is near Red Bridge Shopping Center, Mid Continent Library, Minor Park Golf Course, I-435, and nearby schools.
Key Highlights
- 2,516‑square‑foot full duplex offered as one property
- Each unit includes 2 bedrooms, 2 oversized garages, and a private driveway
- 609 features 2.5 baths, a bonus room, and a second family room
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
$29,349
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
6.67%
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%
$586,980
$587.0K
Cap Rate 7%
$419,271
$419.3K
Cap Rate 9%
$326,100
$326.1K
Market Conditions
NOI Build-Up for 2,516 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
$44.7K $17.76/SF
− Vacancy
−$2.8K −$1.10/SF
EGI
$41.9K $16.66/SF
− OpEx
−$12.6K −$5.00/SF
NOI
$29.3K $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%
$586,980
Cap Rate 7%
$419,271
Cap Rate 9%
$326,100
Alternative Uses
Best Use
Multifamily LT 5
$419.3K
$366.9K – $489.2K
NOI $29,349 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$385.9K
$337.7K – $450.3K
NOI $27,016 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$599.3K
$524.4K – $699.2K
NOI $41,950 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
Explore this area
Business Placement
Demographics for 64131, MO
21,837
Population
11,005
Households
2
Avg Household Size
37
Median Age
39%
College-Educated
91%
High-School Grad
8.5 sq mi
ZIP Area
2,569
Density / Sq Mi
$63,374
Median Household Income
$41,999
Median Earnings
$1,139
Median Rent
$217,700
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 residential units offer private driveways, finished lower levels, and flexible bonus or office space.
Where is this duplex located?
The property is located at 607-609 E 117 Street Kansas City, MO.
What is the asking price?
The asking price for this property is $439,950.
What are key features of this property?
This property features: 2,516‑square‑foot full duplex offered as one property; Each unit includes 2 bedrooms, 2 oversized garages, and a private driveway; 609 features 2.5 baths, a bonus room, and a second family room
