Duplex with Finished
For Sale
$295,000
513 Cape Cod Court, Smithville, MO 64089
Residential, Smithville, MO
Property Size2,412 SF
Lot Size0.16 Acres
Price / SF$122.31
Days on Market11
Property Features for 513 Cape Cod Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Basement, Bathroom 4, Bathroom 3, Bedroom 5, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1
Patio and Porch features
Deck
Fireplace
1
Basement
Daylight
Appliances
Dishwasher, Microwave, Refrigerator, Electric Range
Subdivision
Harborview
Elementary school district
Smithville
Middle school district
Smithville
High school district
Smithville
Directions
F Hwy to Marina, Left onto Fletcher, Left onto Cape Code Ct
Standard status
Active
APN
05-319-00-06-010.00
Size
2,412 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
HARBORVIEW 3RD PLAT LT 60B (H-128)
Tax Annual Amount
2753
HOA Fee
$252 Annually
Legal Description
HARBORVIEW 3RD PLAT LT 60B (H-128)
Utilities
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Amenities
fireplace
deck
finished basement
wood privacy fence
Building Details
Year built
1995
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
ReeceNichols-KCN · HomeLife
(816) 468-8555
Listed By:
Eric Craig Team
(816) 726-8565
Added: Sep 24
Changed: Oct 3
Last Checked: Oct 4 at 2:06PM
MLS# 2643777
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 2,412-square-foot duplex was built in 1995 on a 0.16-acre lot. The multi-level layout includes five bedrooms, 3.5 bathrooms, multiple living areas, and a finished basement alongside an unfinished basement. Interior features include an open connection between the living room, dining area, and kitchen, plus a fireplace. The kitchen has wood cabinetry, tile flooring, and included appliances.
An attached garage and driveway provide on-site vehicle accommodation. A deck opens to a fenced backyard. The property is in Smithville, Missouri.
An attached garage and driveway provide on-site vehicle accommodation. A deck opens to a fenced backyard. The property is in Smithville, Missouri.
Key Highlights
- 2,412 square feet on a 0.16‑acre lot
- Five bedrooms and 3.5 bathrooms
- Finished and unfinished basement areas
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
$23,016
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
7.80%
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%
$460,320
$460.3K
Cap Rate 7%
$328,800
$328.8K
Cap Rate 9%
$255,733
$255.7K
Market Conditions
NOI Build-Up for 2,412 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
$36.2K $15.00/SF
− Vacancy
−$3.3K −$1.37/SF
EGI
$32.9K $13.63/SF
− OpEx
−$9.9K −$4.09/SF
NOI
$23.0K $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 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%
$460,320
Cap Rate 7%
$328,800
Cap Rate 9%
$255,733
Alternative Uses
Best Use
Multifamily LT 5
$328.8K
$287.7K – $383.6K
NOI $23,016 @ 7.0% cap · market cap 7.80%
Second Best
Apartment 5plus
$291.9K
$255.4K – $340.6K
NOI $20,435 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$738.5K
$646.2K – $861.6K
NOI $51,694 @ 7.0% cap · market cap 17.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
29
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - A multi-level layout combines several living areas with a finished basement, deck, and attached garage.
Where is this duplex located?
The property is located at 513 Cape Cod Court Smithville, MO.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 2,412 square feet on a 0.16‑acre lot; Five bedrooms and 3.5 bathrooms; Finished and unfinished basement areas
