Two-Story
For Sale
$189,000
2402 & 2404 Jules St, Saint Joseph, MO 64501
Each residence has its own kitchen, dining area, and living space, with bedrooms upstairs.
Property Size1,440 SF
Price / SF$131.25
Days on Market11
Property Features for 2402 & 2404 Jules St
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Multi-Unit (2-4)
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
Lot Size Acres: 0.13
Asphalt Roof
Sewer Type: Municipal
Total Taxes: $755, Percentage of Tax that is Deductable: 0
Has Central AC: 1, Wall/Window AC: 1
Forced Air Heating
Sale, Sale Type: Foreclosure
Basement Type: Partial, Unfinished
Residential Style: 2600, Built in 1892
Property Township: BUCHANAN COUNTY
Above Area Square Feet: 1440, Street View
Water Source: Municipal
Construction Type: Frame
Wood Siding
Building Details
Year Built
1892
Buildings
1
Stories
2
Listing Agency:
Davidson Real Estate
Listed By:
Charles Golden
(816) 632-4400
Source:
Doyle-realty
Added: Sep 25
Changed: Oct 4
Last Checked: Oct 4 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 Davidson Real Estate
Investment Insights
Based on property information with market context.
This 1,440-square-foot duplex in Saint Joseph contains two stories and was built in 1892. Each residence has two bedrooms and one bathroom, with the bedrooms on the upper floor. The main level includes a kitchen, dining room, and living area in each unit. A partial basement provides additional storage or utility space.
The property is located at 2402 and 2404 Jules Street in Saint Joseph, Missouri.
The property is located at 2402 and 2404 Jules Street in Saint Joseph, Missouri.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 1,440 square feet across two stories
- Built in 1892
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
$9,764
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
5.17%
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%
$195,280
$195.3K
Cap Rate 7%
$139,486
$139.5K
Cap Rate 9%
$108,489
$108.5K
Market Conditions
NOI Build-Up for 1,440 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
$14.7K $10.20/SF
− Vacancy
−$739 −$0.51/SF
EGI
$13.9K $9.69/SF
− OpEx
−$4.2K −$2.91/SF
NOI
$9.8K $6.78/SF
Area
Buchanan County, MO
Vacancy
5.03%
Lease Rate
$10.20 /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%
$195,280
Cap Rate 7%
$139,486
Cap Rate 9%
$108,489
Alternative Uses
Best Use
Multifamily LT 5
$139.5K
$122.1K – $162.7K
NOI $9,764 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$124.7K
$109.1K – $145.5K
NOI $8,730 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$434.5K
$380.2K – $506.9K
NOI $30,413 @ 7.0% cap · market cap 16.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
383
Businesses Nearby
Explore this area
Business Placement
Demographics for 64501, MO
11,020
Population
5,598
Households
2
Avg Household Size
36
Median Age
18%
College-Educated
89%
High-School Grad
3.7 sq mi
ZIP Area
2,978
Density / Sq Mi
$41,615
Median Household Income
$29,276
Median Earnings
$823
Median Rent
$97,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Each residence has its own kitchen, dining area, and living space, with bedrooms upstairs.
Where is this duplex located?
The property is located at 2402 & 2404 Jules St Saint Joseph, MO.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; 1,440 square feet across two stories; Built in 1892
