Two-Bedroom Duplex
For Sale
$199,900
17405 E 41st Terrace, Independence, MO 64055
Residential, Traditional, Independence, MO
Property Size1,692 SF
Lot Size0.10 Acres
Price / SF$118.14
Days on Market49
Property Features for 17405 E 41st Terrace
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Basement, Bathroom 1, Game Room, Bedroom 1, Bathroom 2
Parking features
Open, Garage
Window features
Window Coverings
Patio and Porch features
Deck, Patio
Interior features
Ceiling Fan(s), Stained Cabinets, Vaulted Ceiling(s), Wet Bar
Fireplace
1
Basement
Walk-Out Access, Finished, Full, Daylight
Appliances
Dishwasher, Disposal, Microwave, Refrigerator, Electric Range
Subdivision
Crackerneck Acres
Lot features
City Lot
High school
Blue Springs
Elementary school district
Blue Springs
Middle school district
Blue Springs
High school district
Blue Springs
Directions
39th Street to Crackerneck (S) to 41st Street (L) to address
Standard status
Active
APN
34-340-10-03-01-0-00-000
Size
1,692 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
CRACKERNECK ACRES LOT 19 (EX E 37.2' THOF) A SUBDIVISION IN INDEPENDENCE, JACKSON COUNTY, MISSOURI
Tax Annual Amount
1632
Legal Description
CRACKERNECK ACRES LOT 19 (EX E 37.2' THOF) A SUBDIVISION IN INDEPENDENCE, JACKSON COUNTY, MISSOURI
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Forced Air
Cooling system
Electric
Water source
Public
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
Year built
1981
Flooring type
Carpet, Vinyl, Tile
Building materials
Brick Trim, Concrete, Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Keller Williams Platinum Prtnr · Keller Williams Realty
(816) 525-7000
Listed By:
Rick Parker
(816) 506-0004
Added: Aug 7
Changed: Sep 12
Last Checked: Sep 24 at 7:06PM
MLS# 2635767
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 half-duplex residence contains 1,692 square feet with two bedrooms and two full bathrooms. The interior includes vinyl flooring, a vaulted living room ceiling, stained cabinetry, and a wood-burning fireplace. A finished walkout basement provides a large recreation room, wet bar, laundry room, and additional full bathroom. The kitchen is equipped with a dishwasher, disposal, microwave, refrigerator, and electric range.
Outdoor features include a deck connected to the living room, a lower patio, and garage parking with additional open parking. The property includes public water and public sewer, composition roofing, forced-air and hot-water heating, and electric cooling. Built in 1981, the home is located near shopping and restaurants in Independence, Missouri.
Outdoor features include a deck connected to the living room, a lower patio, and garage parking with additional open parking. The property includes public water and public sewer, composition roofing, forced-air and hot-water heating, and electric cooling. Built in 1981, the home is located near shopping and restaurants in Independence, Missouri.
Key Highlights
- Two‑bedroom, two‑full‑bath half duplex with 1,692 square feet
- Finished walkout basement with recreation room, wet bar, laundry room, and full bath
- Wood‑burning fireplace and vaulted living room ceiling
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
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Finished walkout basement adds a rec room, wet bar, laundry area, fireplace, 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: Two‑bedroom, two‑full‑bath half duplex with 1,692 square feet; Finished walkout basement with recreation room, wet bar, laundry room, and full bath; Wood‑burning fireplace and vaulted living room ceiling
