Updated Half Duplex with Finished
For Sale
$360,000
601 E 120th Street, Kansas City, MO 64145
Residential, Traditional, Kansas City, MO
Property Size2,390 SF
Lot Size0.21 Acres
Price / SF$150.63
Days on Market14
Property Features for 601 E 120th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
2
Rooms
Bathroom 3, Basement, Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 4, Bathroom 4, Bedroom 2
Parking features
Open
Security features
Security System
Interior features
Ceiling Fan(s)
Fireplace
1
Basement
Concrete, Finished, Sump Pump
Appliances
Cooktop, Dishwasher, Disposal, Dryer, Humidifier, Microwave, Refrigerator, Gas Range, Stainless Steel Appliance(s), Water Purifier, Water Softener
Subdivision
Santa Fe Farm
Elementary school
Martin City
Middle school
Martin City
High school
Grandview
Elementary school district
Grandview
Middle school district
Grandview
High school district
Grandview
Directions
From Holmes. turn West on 120th St, Home will be on the south side of street
Standard status
Active
APN
65-540-02-74-00-0-00-000
Size
2,390 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
SANTA FE FARM PT OF LOT 11 BLK B LY W OF LI DAF: BEG AT A PT ON SLY LI SD LOT TO PT LY 41.17' E OF SW COR SD LOT TH TO A PT LY 66.95' W OF NE COR SD LOT AS MEAS ALG TH SLY ROW LI O
Tax Annual Amount
3843
HOA Fee
$65 Monthly
Legal Description
SANTA FE FARM PT OF LOT 11 BLK B LY W OF LI DAF: BEG AT A PT ON SLY LI SD LOT TO PT LY 41.17' E OF SW COR SD LOT TH TO A PT LY 66.95' W OF NE COR SD LOT AS MEAS ALG TH SLY ROW LI O
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric
Water source
Public
Amenities
sunroom
composite deck
ADT security system
water softener
water filtration system
handicap accessible bathroom
Building Details
Year built
1986
Building materials
Board & Batten Siding, Brick Trim
Roof type
Composition
Architectural style
Other
Listing Agency:
Keller Williams Platinum Prtnr · Keller Williams Realty
(816) 525-7000
Listed By:
Just Say Home KC Team
(816) 665-9920
Added: Aug 24
Changed: Sep 5
Last Checked: Sep 6 at 8:06AM
MLS# 2638433
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.
Located in Kansas City, this 1.5-story half duplex provides 2,390 square feet of finished space across four bedrooms, two full bathrooms, and two half bathrooms. The main level includes two bedrooms, laundry, an updated kitchen with granite counters, an island, stainless steel appliances, a gas cooktop, and a new dishwasher. A sunroom leads to a composite deck extending across the rear of the home, while the upper level adds two bedrooms and a full bathroom.
The finished basement includes a family room, bonus room, and half bathroom, expanding the property's usable living and recreation areas. Additional features include a two-car garage, handicap accessibility at the main-level bathroom, a new garage door and Wi-Fi-enabled opener, ADT security, water softener, kitchen-sink filtration, leaf-guard gutters, and an AC compressor. Completed foundation work includes a transferable warranty. The residence was built in 1986 on a 0.2062-acre lot with public water and sewer.
The finished basement includes a family room, bonus room, and half bathroom, expanding the property's usable living and recreation areas. Additional features include a two-car garage, handicap accessibility at the main-level bathroom, a new garage door and Wi-Fi-enabled opener, ADT security, water softener, kitchen-sink filtration, leaf-guard gutters, and an AC compressor. Completed foundation work includes a transferable warranty. The residence was built in 1986 on a 0.2062-acre lot with public water and sewer.
Key Highlights
- 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
$27,879
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
7.74%
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%
$557,580
$557.6K
Cap Rate 7%
$398,271
$398.3K
Cap Rate 9%
$309,767
$309.8K
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
$42.4K $17.76/SF
− Vacancy
−$2.6K −$1.10/SF
EGI
$39.8K $16.66/SF
− OpEx
−$11.9K −$5.00/SF
NOI
$27.9K $11.66/SF
Area
Kansas City, MO
Vacancy
6.17%
Lease Rate
$17.76 /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%
$557,580
Cap Rate 7%
$398,271
Cap Rate 9%
$309,767
Alternative Uses
Best Use
Multifamily LT 5
$398.3K
$348.5K – $464.7K
NOI $27,879 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$366.6K
$320.8K – $427.7K
NOI $25,663 @ 7.0% cap · market cap 7.13%
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?
Duplex - Spacious multi-level residence with accessible main-floor living, upgraded kitchen, attached garage, and finished lower-level rooms.
Where is this duplex located?
The property is located at 601 E 120th Street 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: 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
