Newly Built Duplex with Fenced
For Sale
$460,000
4335/4337 Spruce Avenue, Kansas City, MO 64130
Two individually metered residences offer open living areas, covered porches, and private fenced outdoor space.
Property Size2,438 SF
Price / SF$188.68
Days on Market682
Property Features for 4335/4337 Spruce Avenue
General Information
Standard status
Active
Size
2,438 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$120
Building Details
Year Built
2024
Listing Agency:
Weichert, Realtors Welch & Co.
(913) 713-9484
Listed By:
Cobey Cooper · License #1742886
(913) 713-9484
Source:
Exitrealty
Added: Oct 18, 2024
Changed: Aug 30
Last Checked: Aug 30 at 5:26PM
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 Weichert, Realtors Welch & Co.
Investment Insights
Based on property information with market context.
Built in 2024, this duplex contains two residences within 2,438 square feet. Each side offers 3 bedrooms and 2.5 bathrooms, with an open-concept main level designed for living and dining. Both units include central air, separate gas meters, 200 AMP electric service, individual water heaters, and main-level washer and dryer connections or equipment. Covered front porches and fenced yards provide each residence with dedicated outdoor space.
The property is located at 4335/4337 Spruce Avenue in Kansas City, Missouri, east of the Plaza and Midtown areas. A 10-year tax abatement is identified for the property. The configuration supports occupying one residence while renting the other or leasing both sides, as stated in the property information.
The property is located at 4335/4337 Spruce Avenue in Kansas City, Missouri, east of the Plaza and Midtown areas. A 10-year tax abatement is identified for the property. The configuration supports occupying one residence while renting the other or leasing both sides, as stated in the property information.
Key Highlights
- 2024‑built duplex with 2,438 square feet
- Each unit includes 3 bedrooms and 2.5 bathrooms
- Separate gas meters, central air, and 200 AMP electric for both units
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
$28,439
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
6.18%
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%
$568,780
$568.8K
Cap Rate 7%
$406,271
$406.3K
Cap Rate 9%
$315,989
$316.0K
Market Conditions
NOI Build-Up for 2,438 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
$43.3K $17.76/SF
− Vacancy
−$2.7K −$1.10/SF
EGI
$40.6K $16.66/SF
− OpEx
−$12.2K −$5.00/SF
NOI
$28.4K $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%
$568,780
Cap Rate 7%
$406,271
Cap Rate 9%
$315,989
Alternative Uses
Best Use
Multifamily LT 5
$406.3K
$355.5K – $474.0K
NOI $28,439 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$374.0K
$327.2K – $436.3K
NOI $26,178 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$580.7K
$508.1K – $677.5K
NOI $40,649 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Explore this area
Business Placement
Demographics for 64130, MO
20,707
Population
10,952
Households
1.9
Avg Household Size
38
Median Age
13%
College-Educated
86%
High-School Grad
7.1 sq mi
ZIP Area
2,916
Density / Sq Mi
$40,770
Median Household Income
$36,383
Median Earnings
$1,003
Median Rent
$71,500
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 individually metered residences offer open living areas, covered porches, and private fenced outdoor space.
Where is this duplex located?
The property is located at 4335/4337 Spruce Avenue Kansas City, MO.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: 2024‑built duplex with 2,438 square feet; Each unit includes 3 bedrooms and 2.5 bathrooms; Separate gas meters, central air, and 200 AMP electric for both units
