Duplex With Ground-Level
For Sale
$180,000
5321 NW 87th Court, Kansas City, MO 64154
DUPLEX - Kansas City, MO
Property Size1,514 SF
Lot Size0.02 Acres
Price / SF$118.89
Days on Market114
Property Features for 5321 NW 87th Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 1
Parking features
Garage
Patio and Porch features
Deck
Basement
Finished, Walk-Out Access
Subdivision
Barry Park at Coves North
Lot features
Cul-De-Sac
Elementary school
Tiffany Ridge
Middle school
Plaza Middle School
High school
Park Hill
Elementary school district
Park Hill
Middle school district
Park Hill
High school district
Park Hill
Directions
Waukomis to Hull to 87th CT
Standard status
Active
APN
19-30-07-100-001-001-038
Size
1,514 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Description
BARRY PARK AT COVES NORTH CONDOMINIUMS LOT 26 BLK 1 UNIT 5321
Tax Annual Amount
1917
HOA Fee
$285 Monthly
Legal Description
BARRY PARK AT COVES NORTH CONDOMINIUMS LOT 26 BLK 1 UNIT 5321
Utilities
Heating system
Natural Gas
Cooling system
Electric
Water source
Public
Building Details
Year built
1985
Flooring type
Laminate, Carpet, Tile
Building materials
Board & Batten Siding, Brick/Mortar, Frame
Roof type
Composition
Listing Agency:
Berkshire Hathaway HomeServices All-Pro Real Estate
(816) 897-2211
Listed By:
Derek Espeer · License #2009029945
(816) 588-5745
Added: Apr 30
Changed: Aug 18
Last Checked: Aug 21 at 5:06AM
MLS# 2617082
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 1985 duplex contains 1514 square feet with a two-level layout and a lower-level suite accessed through the garage. The residence includes three bedrooms, two bathrooms, a living area, kitchen, dining space, laundry room, walk-in closet, and a jetted tub. Flooring includes carpet, laminate, and tile, while natural gas heating and electric cooling serve the home. A deck provides exterior space, and public water supplies the property.
Located on a cul-de-sac in Barry Park at Coves North, the property has mature trees and a 0.018-acre lot. The HOA has completed repairs related to exterior wood rot, painted the exterior, and secured and repaired the foundation. HOA-maintained items described for the property include lawn care, snow removal from the road, sidewalks, driveways, and residence stairs.
Located on a cul-de-sac in Barry Park at Coves North, the property has mature trees and a 0.018-acre lot. The HOA has completed repairs related to exterior wood rot, painted the exterior, and secured and repaired the foundation. HOA-maintained items described for the property include lawn care, snow removal from the road, sidewalks, driveways, and residence stairs.
Key Highlights
- 1514 square feet on a 0.018‑acre lot
- Three‑bedroom, two‑bathroom layout with a lower‑level owner's suite
- Garage‑entry suite includes a jetted tub, walk‑in closet, and laundry room
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
$16,257
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
9.03%
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%
$325,140
$325.1K
Cap Rate 7%
$232,243
$232.2K
Cap Rate 9%
$180,633
$180.6K
Market Conditions
NOI Build-Up for 1,514 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
$31.6K $20.88/SF
− Vacancy
−$2.1K −$1.36/SF
EGI
$29.6K $19.52/SF
− OpEx
−$13.3K −$8.79/SF
NOI
$16.3K $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%
$325,140
Cap Rate 7%
$232,243
Cap Rate 9%
$180,633
Alternative Uses
Best Use
Multifamily LT 5
$252.3K
$220.8K – $294.4K
NOI $17,661 @ 7.0% cap · market cap 9.81%
Second Best
Apartment 5plus
$232.2K
$203.2K – $271.0K
NOI $16,257 @ 7.0% cap · market cap 9.03%
Theoretical Best
Office A
$360.6K
$315.5K – $420.7K
NOI $25,243 @ 7.0% cap · market cap 14.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
940
Businesses Nearby
Explore this area
Business Placement
Demographics for 64154, MO
12,986
Population
6,343
Households
2
Avg Household Size
37
Median Age
50%
College-Educated
97%
High-School Grad
12.9 sq mi
ZIP Area
1,007
Density / Sq Mi
$92,686
Median Household Income
$51,870
Median Earnings
$1,384
Median Rent
$351,000
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 - Three-bedroom residence with a garage-entry lower-level suite, deck, two bathrooms, and separate living, kitchen, and dining areas.
Where is this duplex located?
The property is located at 5321 NW 87th Court Kansas City, MO.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: 1514 square feet on a 0.018‑acre lot; Three‑bedroom, two‑bathroom layout with a lower‑level owner's suite; Garage‑entry suite includes a jetted tub, walk‑in closet, and laundry room
