Residential Income Property with
For Sale
$240,000
4301-4303 Virginia Avenue, Kansas City, MO 64110
Corner residential income property with off-street parking, balcony space, and R zoning.
Property Size1,888 SF
Days on Market12
Property Features for 4301-4303 Virginia Avenue
General Information
Standard status
Active
Size
1,888 SF
Property subtype
Residential Income
Zoning
R
Taxes and HOA fees
Annual Taxes
$1,370
Amenities
Electric
Natural Gas
Off Street
Balcony
Building Details
Building Size
1,888 SF
Year Built
1924
Stories
2
Listing Agency:
ReeceNichols - Lees Summit
(816) 585-8668
Listed By:
Scott Johnson · License #2017028174
(816) 585-8668
Source:
Evrealestate
Added: Aug 11
Changed: Aug 18
Last Checked: Aug 21 at 5:49AM
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 ReeceNichols - Lees Summit
Investment Insights
Based on property information with market context.
This residential income property was built in 1924 and includes electric and natural gas service. Exterior features include a balcony and off-street parking, supporting practical residential use within an established building configuration.
The property occupies the corner of 43rd Street and Virginia Avenue in Kansas City, Missouri. It is identified within R zoning and is accessed from Paseo to 43rd Street, then west to Virginia Avenue.
The property occupies the corner of 43rd Street and Virginia Avenue in Kansas City, Missouri. It is identified within R zoning and is accessed from Paseo to 43rd Street, then west to Virginia Avenue.
Key Highlights
- Residential income property built in 1924
- R zoning
- Located at the corner of 43rd Street and Virginia Avenue
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
$20,272
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
8.45%
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%
$405,440
$405.4K
Cap Rate 7%
$289,600
$289.6K
Cap Rate 9%
$225,244
$225.2K
Market Conditions
NOI Build-Up for 1,888 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
$39.4K $20.88/SF
− Vacancy
−$2.6K −$1.36/SF
EGI
$36.9K $19.52/SF
− OpEx
−$16.6K −$8.79/SF
NOI
$20.3K $10.74/SF
Area
Kansas City, MO
Vacancy
6.50%
Lease Rate
$20.88 /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%
$405,440
Cap Rate 7%
$289,600
Cap Rate 9%
$225,244
Alternative Uses
Best Use
Apartment 5plus
$289.6K
$253.4K – $337.9K
NOI $20,272 @ 7.0% cap · market cap 8.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$449.7K
$393.5K – $524.7K
NOI $31,479 @ 7.0% cap · market cap 13.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
Explore this area
Business Placement
Demographics for 64110, MO
15,874
Population
8,655
Households
1.8
Avg Household Size
32
Median Age
50%
College-Educated
95%
High-School Grad
3.0 sq mi
ZIP Area
5,291
Density / Sq Mi
$59,710
Median Household Income
$38,852
Median Earnings
$1,155
Median Rent
$238,200
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Corner residential income property with off-street parking, balcony space, and R zoning.
Where is this residential income property located?
The property is located at 4301-4303 Virginia Avenue Kansas City, 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: Residential income property built in 1924; R zoning; Located at the corner of 43rd Street and Virginia Avenue
