Building Details

Year Built 1990

Listing Agency: Homesmart Legacy Show Phone

Listed By: Integrity Home Team Show Phone

Source: Integrityhometeam

Added: Oct 20 Changed: Oct 21 Last Checked: Oct 21 at 2:14AM

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Investment Insights

Based on property information with market context.

Built in 1990, this duplex contains two separate living spaces. Both sides are configured with three bedrooms and 1.5 bathrooms, with the rooms arranged across separate levels.

The property is in Smithville, Missouri, near Smithville Lake and its boating, fishing, and outdoor recreation opportunities.

Key Highlights

• Two residences, each with 3 bedrooms and 1.5 bathrooms
• Separate levels in each side of the duplex
• Built in 1990

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$10,020

Cap Rate

4.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$200,400 $200.4K

Cap Rate 7%

$143,143 $143.1K

Cap Rate 9%

$111,333 $111.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,050 SF

Gross rent

$15.8K $15.00/SF

− Vacancy

−$1.4K −$1.37/SF

EGI

$14.3K $13.63/SF

− OpEx

−$4.3K −$4.09/SF

NOI

$10.0K $9.54/SF

Area

Clay County, MO

Vacancy

9.12%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$200,400

Cap Rate 7%

$143,143

Cap Rate 9%

$111,333

Alternative Uses

Best Use

Multifamily LT 5

$143.1K

$125.3K – $167.0K (±1% cap)

NOI $10,020 @ 7.0% cap · market cap 4.18%

Second Best

Apartment 5plus

$127.1K

$111.2K – $148.3K (±1% cap)

NOI $8,896 @ 7.0% cap · market cap 3.71%

Theoretical Best

Office A

$321.5K

$281.3K – $375.1K (±1% cap)

NOI $22,504 @ 7.0% cap · market cap 9.38%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

280

Businesses Nearby

Explore this area Business Placement

Demographics for 64089, MO

13,681

Population

5,471

Households

2.5

Avg Household Size

40

Median Age

34%

College-Educated

95%

High-School Grad

60.9 sq mi

ZIP Area

225

Density / Sq Mi

$101,063

Median Household Income

$58,482

Median Earnings

$1,212

Median Rent

$307,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Each residence has 1.5 bathrooms and occupies separate levels.

Where is this duplex located?

The property is located at 307B E Main St Smithville, MO.

What is the asking price?

The asking price for this property is $240,000.

What are key features of this property?

This property features: Two residences, each with 3 bedrooms and 1.5 bathrooms; Separate levels in each side of the duplex; Built in 1990