Updated Half Duplex with Finished
New
For Sale
$360,000
601 E 120th St, Kansas City, MO 64145
Multifamily property with flexible living areas, accessible main-level space, and outdoor entertaining areas overlooking green space.
Property Size2,390 SF
Price / SF$150.63
Days on Market1
Property Features for 601 E 120th St
General Information
Standard status
Active
Size
2,390 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
HOA Fee
$65
Multifamily Units
1
Amenities
sunroom
composite deck
finished basement
family room
bonus room
updated kitchen
gas cooktop
handicap accessibility
water softener
water filtration system
leaf-guard gutter system
AC compressor
Building Details
Year Built
1986
Buildings
1
Listing Agency:
Thehomestour.com
(660) 620-1888
Listed By:
Amy Arndorfer
(816) 224-5650
Source:
Amysold
Added: Sep 7
Last Checked: Sep 7 at 6:17AM
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 Thehomestour.com
Investment Insights
Based on property information with market context.
Located at 601 E 120th St in Kansas City, Missouri, this 1986 half duplex provides approximately 2,390 square feet of finished space across one and a half stories plus a completed basement. The layout includes four bedrooms, two full bathrooms, and two half bathrooms. Two bedrooms, laundry, and the updated kitchen are on the main level, while the upper floor adds two bedrooms and a full bathroom. Kitchen improvements include stainless steel appliances, granite counters, a gas cooktop, and a newer dishwasher.
The basement includes a family room, bonus room, and half bathroom for additional recreation, office, guest, or living space. A sunroom opens onto a composite deck extending along the rear of the building and facing green space. Property features also include a two-car garage, updated garage door and opener, security system, water softener, kitchen-sink filtration system, leaf-guard gutters, AC compressor, and handicap accessibility at the main-level bathroom. Completed foundation work includes a transferable warranty.
The basement includes a family room, bonus room, and half bathroom for additional recreation, office, guest, or living space. A sunroom opens onto a composite deck extending along the rear of the building and facing green space. Property features also include a two-car garage, updated garage door and opener, security system, water softener, kitchen-sink filtration system, leaf-guard gutters, AC compressor, and handicap accessibility at the main-level bathroom. Completed foundation work includes a transferable warranty.
Key Highlights
- Half duplex with approximately 2,390 square feet of finished living space
- Four bedrooms, 2 full baths, and 2 half baths
- Finished basement with family room, bonus room, and half bath
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
$25,663
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
7.13%
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%
$513,260
$513.3K
Cap Rate 7%
$366,614
$366.6K
Cap Rate 9%
$285,144
$285.1K
Market Conditions
NOI Build-Up for 2,390 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
$49.9K $20.88/SF
− Vacancy
−$3.2K −$1.36/SF
EGI
$46.7K $19.52/SF
− OpEx
−$21.0K −$8.79/SF
NOI
$25.7K $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%
$513,260
Cap Rate 7%
$366,614
Cap Rate 9%
$285,144
Alternative Uses
Best Use
Apartment 5plus
$366.6K
$320.8K – $427.7K
NOI $25,663 @ 7.0% cap · market cap 7.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$569.3K
$498.1K – $664.2K
NOI $39,849 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
126
Businesses Nearby
Explore this area
Business Placement
Demographics for 64145, MO
5,518
Population
2,134
Households
2.6
Avg Household Size
53
Median Age
57%
College-Educated
98%
High-School Grad
5.6 sq mi
ZIP Area
985
Density / Sq Mi
$95,439
Median Household Income
$51,290
Median Earnings
$1,735
Median Rent
$350,100
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?
Multifamily property - Multifamily property with flexible living areas, accessible main-level space, and outdoor entertaining areas overlooking green space.
Where is this multifamily property located?
The property is located at 601 E 120th St Kansas City, MO.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Half duplex with approximately 2,390 square feet of finished living space; Four bedrooms, 2 full baths, and 2 half baths; Finished basement with family room, bonus room, and half bath
