Residential Income Ranch
For Sale
$310,000
2301 Richwood Circle, Blue Springs, MO 64015
Ranch-style home with maintenance-included HOA covering exterior upkeep, lawn service, trash, and snow removal.
Property Size2,998 SF
Days on Market29
Property Features for 2301 Richwood Circle
General Information
Standard status
Active
Size
2,998 SF
Property subtype
Duplex
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,452
Amenities
lawn service
snow removal
exterior maintenance
trash
sprinkler system maintenance
gutter cleaning
hot tub
Building Details
Building Size
2,998 SF
Stories
1
Construction
Ranch
Listing Agency:
Berkshire Hathaway HomeServices All-Pro
(816) 229-2900
Listed By:
Vicki Campbell
(816) 229-2900
Source:
Community-realty
Added: Jul 26
Changed: Aug 16
Last Checked: Aug 23 at 12:39PM
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 Berkshire Hathaway HomeServices All-Pro
Investment Insights
Based on property information with market context.
This spacious ranch home is set up for maintenance-free living through an HOA that includes exterior maintenance such as roof replacement, siding, and gutters. HOA also covers trash service, lawn care (including mowing, edging, blowing, trimming bushes, fertilizing, weed management, and insect control), sprinkler system annual backflow testing and winterization, gutter cleaning, and snow removal. The home features two main-level bedrooms with a long hallway separation, vaulted ceilings in the great room, and an eat-in dining area plus a gourmet-size kitchen with a pantry. All appliances stay.
The master bath includes a hot tub, walk-in shower, and a large walk-in closet. There is also a second large bedroom near a hall bath. From the great room, a door leads to a deck with a roll-out awning, and the property backs up to a large green space with a glimpse of the lake.
Additional living space includes a spacious L-shaped rec room that walks out to the patio. The lower level includes a full bath and a third bedroom with double closets, along with another non-conforming room that can be used for exercise or office purposes.
The master bath includes a hot tub, walk-in shower, and a large walk-in closet. There is also a second large bedroom near a hall bath. From the great room, a door leads to a deck with a roll-out awning, and the property backs up to a large green space with a glimpse of the lake.
Additional living space includes a spacious L-shaped rec room that walks out to the patio. The lower level includes a full bath and a third bedroom with double closets, along with another non-conforming room that can be used for exercise or office purposes.
Key Highlights
- HOA covers exterior maintenance including roof replacement, siding, and gutters, plus trash, lawn service, gutter cleaning, and snow removal
- Home features 2 main‑level bedrooms, with a master bath offering a hot tub, walk‑in shower, and large walk‑in closet
- Vaulted ceiling great room with door to the deck and roll‑out awning; eating bar and dining area in the gourmet‑size kitchen
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
$27,637
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
8.92%
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%
$552,740
$552.7K
Cap Rate 7%
$394,814
$394.8K
Cap Rate 9%
$307,078
$307.1K
Market Conditions
NOI Build-Up for 2,998 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
$54.3K $18.12/SF
− Vacancy
−$4.1K −$1.36/SF
EGI
$50.2K $16.76/SF
− OpEx
−$22.6K −$7.54/SF
NOI
$27.6K $9.22/SF
Area
Jackson County, MO
Vacancy
7.50%
Lease Rate
$18.12 /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%
$552,740
Cap Rate 7%
$394,814
Cap Rate 9%
$307,078
Alternative Uses
Best Use
Multifamily LT 5
$427.7K
$374.2K – $499.0K
NOI $29,939 @ 7.0% cap · market cap 9.66%
Second Best
Apartment 5plus
$394.8K
$345.5K – $460.6K
NOI $27,637 @ 7.0% cap · market cap 8.92%
Theoretical Best
Warehouse
$788.5K
$689.9K – $919.9K
NOI $55,195 @ 7.0% cap · market cap 17.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
313
Businesses Nearby
Explore this area
Business Placement
Demographics for 64015, MO
33,063
Population
13,147
Households
2.5
Avg Household Size
39
Median Age
34%
College-Educated
96%
High-School Grad
19.6 sq mi
ZIP Area
1,687
Density / Sq Mi
$81,242
Median Household Income
$51,065
Median Earnings
$1,148
Median Rent
$249,500
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 - Ranch-style home with maintenance-included HOA covering exterior upkeep, lawn service, trash, and snow removal.
Where is this duplex located?
The property is located at 2301 Richwood Circle Blue Springs, MO.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: HOA covers exterior maintenance including roof replacement, siding, and gutters, plus trash, lawn service, gutter cleaning, and snow removal; Home features 2 main‑level bedrooms, with a master bath offering a hot tub, walk‑in shower, and large walk‑in closet; Vaulted ceiling great room with door to the deck and roll‑out awning; eating bar and dining area in the gourmet‑size kitchen
