Well-Maintained Duplex with Finished
For Sale
$325,000
1620 & 1622 S Swope Dr, Independence, MO 64057
Two-unit residential property with full kitchens, garage parking, patios, and long-term lease agreements.
Property Size1,650 SF
Price / SF$196.97
Days on Market29
Property Features for 1620 & 1622 S Swope Dr
General Information
Standard status
Active
Size
1,650 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Gross Income
$31,740
Highway Access
Yes
Amenities
finished basement
walkout patio
washer and dryer hookups
garage parking
Building Details
Year Built
1988
Buildings
1
Listing Agency:
Golden Oak Real Estate, LLC
(816) 224-5650
Listed By:
Amy Arndorfer · License #2000156181
(816) 224-5650
Source:
Amysold
Added: Aug 2
Changed: Aug 29
Last Checked: Aug 29 at 10:45AM
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.
Built in 1988, this duplex at 1620 and 1622 S. Swope Drive includes two residential units, each measuring 1,650 square feet. Both layouts offer three bedrooms, two full bathrooms, a full kitchen, a finished basement, garage parking, washer and dryer hookups, and a walkout patio. Ongoing maintenance and improvements have been completed, and no known outstanding maintenance items are reported.
The property occupies a cul-de-sac lot in Independence, Missouri, approximately one mile east of Highway 291 and 23rd Street. Current lease agreements place utility and trash-service responsibility with the tenants, while lawn mowing is handled by the landlord or property manager. Professional property management is in place, and tenant security deposits transfer to the buyer at closing.
The property occupies a cul-de-sac lot in Independence, Missouri, approximately one mile east of Highway 291 and 23rd Street. Current lease agreements place utility and trash-service responsibility with the tenants, while lawn mowing is handled by the landlord or property manager. Professional property management is in place, and tenant security deposits transfer to the buyer at closing.
Key Highlights
- Two‑unit duplex with 1,650 square feet per unit
- Each unit includes three bedrooms and two full bathrooms
- Finished basements, full kitchens, garage parking, and walkout patios
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
$18,857
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
5.80%
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%
$377,140
$377.1K
Cap Rate 7%
$269,386
$269.4K
Cap Rate 9%
$209,522
$209.5K
Market Conditions
NOI Build-Up for 1,650 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
$28.7K $17.40/SF
− Vacancy
−$1.8K −$1.07/SF
EGI
$26.9K $16.33/SF
− OpEx
−$8.1K −$4.90/SF
NOI
$18.9K $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%
$377,140
Cap Rate 7%
$269,386
Cap Rate 9%
$209,522
Alternative Uses
Best Use
Multifamily LT 5
$269.4K
$235.7K – $314.3K
NOI $18,857 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$247.3K
$216.4K – $288.5K
NOI $17,310 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$487.6K
$426.7K – $568.9K
NOI $34,135 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
110
Businesses Nearby
Explore this area
Business Placement
Demographics for 64057, MO
14,830
Population
6,652
Households
2.2
Avg Household Size
44
Median Age
29%
College-Educated
94%
High-School Grad
14.7 sq mi
ZIP Area
1,009
Density / Sq Mi
$71,441
Median Household Income
$44,391
Median Earnings
$1,139
Median Rent
$235,700
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-unit residential property with full kitchens, garage parking, patios, and long-term lease agreements.
Where is this duplex located?
The property is located at 1620 & 1622 S Swope Dr Independence, MO.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,650 square feet per unit; Each unit includes three bedrooms and two full bathrooms; Finished basements, full kitchens, garage parking, and walkout patios
