Fully Occupied
For Sale
$255,000
1505-7 N 63rd Terrace, Kansas City, KS 66102
Residential Income, Kansas City, KS
Property Size1,560 SF
Lot Size0.28 Acres
Price / SF$163.46
Days on Market112
Property Features for 1505-7 N 63rd Terrace
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bathroom 2
Parking
2
Patio and Porch features
Patio
Appliances
Cooktop, Dishwasher, Disposal, Microwave, Refrigerator, Stainless Steel Appliance(s)
Subdivision
Devaults Sub Re
Middle school
Coronado
Elementary school district
Kansas City Ks
Middle school district
Kansas City Ks
High school district
Kansas City Ks
Directions
Take I-70 W to N 57 St/N 57th St. Take exit 417 Take State Ave to N 63rd Terrace
Standard status
Active
APN
016203
Lot size
0.28 Acres
Taxes and HOA fees
Tax Description
L14
Tax Annual Amount
4522
Legal Description
L14
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Electric
Water source
Public
Building Details
Year built
1963
Number of units
2
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
ReeceNichols- Leawood Town Center · Reece & Nichols
(913) 345-0700
Listed By:
Chad Murray
(785) 550-8634
Added: May 12
Changed: Aug 27
Last Checked: Aug 31 at 8:06PM
MLS# 2619838
Copyright © 2026 Heartland Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully occupied duplex at 1505-7 N 63rd Terrace contains 1,560 square feet across two residences, each configured with two bedrooms and one bathroom. The property sits on 0.28 acres and includes a basement, patio, cooktops, dishwashers, disposals, microwaves, refrigerators, and stainless steel appliances. Vinyl siding and a composition roof complement the 1963 construction.
The building is served by public water and public sewer. Forced-air heating and electric cooling support the interior spaces. The roof is approximately 8 years old, and both units are occupied by tenants. Located in Kansas City, KS 66102, the property offers an established duplex configuration with separately usable residential interiors and shared site improvements.
The building is served by public water and public sewer. Forced-air heating and electric cooling support the interior spaces. The roof is approximately 8 years old, and both units are occupied by tenants. Located in Kansas City, KS 66102, the property offers an established duplex configuration with separately usable residential interiors and shared site improvements.
Key Highlights
- Two‑unit duplex with 1,560 SF of building area
- Both units are occupied by tenants
- Each residence has 2 bedrooms and 1 bathroom
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
$14,140
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
5.55%
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%
$282,800
$282.8K
Cap Rate 7%
$202,000
$202.0K
Cap Rate 9%
$157,111
$157.1K
Market Conditions
NOI Build-Up for 1,560 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
$21.5K $13.80/SF
− Vacancy
−$1.3K −$0.85/SF
EGI
$20.2K $12.95/SF
− OpEx
−$6.1K −$3.88/SF
NOI
$14.1K $9.06/SF
Area
Kansas City, KS
Vacancy
6.17%
Lease Rate
$13.80 /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%
$282,800
Cap Rate 7%
$202,000
Cap Rate 9%
$157,111
Alternative Uses
Best Use
Multifamily LT 5
$202.0K
$176.8K – $235.7K
NOI $14,140 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$185.7K
$162.5K – $216.6K
NOI $12,996 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$258.4K
$226.1K – $301.5K
NOI $18,091 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Explore this area
Business Placement
Demographics for 66102, KS
30,730
Population
11,481
Households
2.7
Avg Household Size
31
Median Age
12%
College-Educated
71%
High-School Grad
11.5 sq mi
ZIP Area
2,672
Density / Sq Mi
$52,218
Median Household Income
$31,913
Median Earnings
$1,020
Median Rent
$105,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom residences each include one bathroom, kitchen appliances, and access to a shared patio.
Where is this duplex located?
The property is located at 1505-7 N 63rd Terrace Kansas City, KS.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,560 SF of building area; Both units are occupied by tenants; Each residence has 2 bedrooms and 1 bathroom
