Half Duplex With Finished
For Sale
$199,900
17405 E 41st Terrace, Independence, MO 64055
Walkout lower level adds recreation, laundry, wet bar, fireplace, patio, and full bath.
Property Size1,692 SF
Days on Market8
Property Features for 17405 E 41st Terrace
General Information
Standard status
Active
Size
1,692 SF
Property subtype
Duplex
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,632
Amenities
LV Flooring
Dishwasher
Refrigerator
Garage Door Opener
Finished Walkout Basement with Patio
Large Rec Room
Wood Burning Fireplace
Wet Bar
Full Bath & Laundry Room
High Vaulted Ceiling
Deck
Building Details
Building Size
1,692 SF
Year Built
1981
Stories
2
Listing Agency:
Keller Williams Platinum Prtnr
(816) 525-7000
Listed By:
Rick Parker
(816) 525-7000
Source:
Community-realty
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 26 at 9:42AM
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 Keller Williams Platinum Prtnr
Investment Insights
Based on property information with market context.
This half duplex, built in 1981, offers 2 bedrooms and 2 full baths with practical interior and outdoor features. The main living area has a high vaulted ceiling and opens to a deck. Flooring, a dishwasher, refrigerator, garage door opener, and a wood-burning fireplace are included.
The finished walkout basement expands the usable living area with a large recreation room, wet bar, full bath, laundry room, and patio. The property is close to shopping and restaurants in Independence, Missouri.
The finished walkout basement expands the usable living area with a large recreation room, wet bar, full bath, laundry room, and patio. The property is close to shopping and restaurants in Independence, Missouri.
Key Highlights
- 2‑bedroom, 2‑bath half duplex
- Finished walkout basement with large recreation room
- Basement includes wet bar, full bath, and laundry 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
$17,750
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
8.88%
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%
$355,000
$355.0K
Cap Rate 7%
$253,571
$253.6K
Cap Rate 9%
$197,222
$197.2K
Market Conditions
NOI Build-Up for 1,692 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
$34.5K $20.40/SF
− Vacancy
−$2.2K −$1.33/SF
EGI
$32.3K $19.07/SF
− OpEx
−$14.5K −$8.58/SF
NOI
$17.8K $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%
$355,000
Cap Rate 7%
$253,571
Cap Rate 9%
$197,222
Alternative Uses
Best Use
Multifamily LT 5
$276.2K
$241.7K – $322.3K
NOI $19,337 @ 7.0% cap · market cap 9.67%
Second Best
Apartment 5plus
$253.6K
$221.9K – $295.8K
NOI $17,750 @ 7.0% cap · market cap 8.88%
Theoretical Best
Office A
$500.1K
$437.6K – $583.4K
NOI $35,004 @ 7.0% cap · market cap 17.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
Explore this area
Business Placement
Demographics for 64055, MO
36,225
Population
16,900
Households
2.1
Avg Household Size
44
Median Age
24%
College-Educated
93%
High-School Grad
12.5 sq mi
ZIP Area
2,898
Density / Sq Mi
$64,646
Median Household Income
$42,121
Median Earnings
$1,098
Median Rent
$173,400
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 - Walkout lower level adds recreation, laundry, wet bar, fireplace, patio, and full bath.
Where is this duplex located?
The property is located at 17405 E 41st Terrace Independence, MO.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath half duplex; Finished walkout basement with large recreation room; Basement includes wet bar, full bath, and laundry room
