Residential Income
New
For Sale
$185,500
1422 &1422 1/2 W Waldo Avenue, Independence, MO 64050
The property includes off-street parking and a mix of window-unit cooling and forced-air heating.
Property Size1,300 SF
Days on Market7
Property Features for 1422 &1422 1/2 W Waldo Avenue
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$1,544
Amenities
None, Window Unit(s)
Forced Air
Refrigerator, Gas Range
Off Street
Building Details
Building Size
1,300 SF
Year Built
1957
Stories
2
Listing Agency:
Blue Bird Real Estate Holden,
Listed By:
Robin Campbell · License #2016033435
(816) 517-5554
Source:
Evrealestate
Added: Sep 28
Changed: Oct 1
Last Checked: Oct 4 at 9:07AM
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 Blue Bird Real Estate Holden,
Investment Insights
Based on property information with market context.
Located at 1422 and 1422 1/2 W Waldo Avenue in Independence, this residential income property was built in 1957. Interior features include window-unit cooling and forced-air heating, with a refrigerator and gas range among the listed appliances. Off-street parking is available.
Key Highlights
- Built in 1957
- Off‑street parking
- Window‑unit cooling and forced‑air heating
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
$13,638
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
7.35%
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%
$272,760
$272.8K
Cap Rate 7%
$194,829
$194.8K
Cap Rate 9%
$151,533
$151.5K
Market Conditions
NOI Build-Up for 1,300 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
$26.5K $20.40/SF
− Vacancy
−$1.7K −$1.33/SF
EGI
$24.8K $19.07/SF
− OpEx
−$11.2K −$8.58/SF
NOI
$13.6K $10.49/SF
Area
Independence, MO
Vacancy
6.50%
Lease Rate
$20.40 /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%
$272,760
Cap Rate 7%
$194,829
Cap Rate 9%
$151,533
Alternative Uses
Best Use
Apartment 5plus
$194.8K
$170.5K – $227.3K
NOI $13,638 @ 7.0% cap · market cap 7.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$384.2K
$336.2K – $448.2K
NOI $26,894 @ 7.0% cap · market cap 14.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
Explore this area
Business Placement
Demographics for 64050, MO
22,223
Population
10,338
Households
2.1
Avg Household Size
39
Median Age
15%
College-Educated
87%
High-School Grad
12.9 sq mi
ZIP Area
1,723
Density / Sq Mi
$46,561
Median Household Income
$36,084
Median Earnings
$915
Median Rent
$137,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The property includes off-street parking and a mix of window-unit cooling and forced-air heating.
Where is this residential income property located?
The property is located at 1422 &1422 1/2 W Waldo Avenue Independence, MO.
What is the asking price?
The asking price for this property is $185,500.
What are key features of this property?
This property features: Built in 1957; Off‑street parking; Window‑unit cooling and forced‑air heating
