Renovated Residential Income
For Sale
$250,000
Pending
7232 N Askew Ave, Kansas City, MO 64119
Updated townhome with finished lower-level living space, vaulted ceilings, and no HOA fees.
Property Size1,957 SF
Days on Market41
Property Features for 7232 N Askew Ave
General Information
Standard status
Pending
Size
1,957 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
1
Amenities
fireplace
deck
fenced yard
Building Details
Year Built
1972
Listing Agency:
Reecenichols - Lees Summit
(816) 719-9567
Listed By:
Integrity Home Team
(573) 492-2600
Source:
Integrityhometeam
Added: Jul 25
Changed: Sep 3
Last Checked: Sep 2 at 4:40PM
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 renovated townhome at 7232 N Askew Ave includes 1,957 square feet of finished living area across three levels. The main floor features vaulted ceilings, luxury vinyl plank flooring, updated lighting, fresh interior paint, and a half bathroom. Upstairs are three bedrooms, including a primary suite, along with two updated full bathrooms featuring new plumbing fixtures and toilets.
The finished lower level adds a flexible family room, office, or recreation area with a fireplace and an additional half bathroom. Exterior improvements include fresh paint, a new back deck, and a fully fenced yard. The property was built in 1972 and has no HOA fees. Its Northland setting provides access to nearby shopping, dining, and highways.
The finished lower level adds a flexible family room, office, or recreation area with a fireplace and an additional half bathroom. Exterior improvements include fresh paint, a new back deck, and a fully fenced yard. The property was built in 1972 and has no HOA fees. Its Northland setting provides access to nearby shopping, dining, and highways.
Key Highlights
- Renovated townhome with 1,957 square feet of finished living area
- Three bedrooms, two full bathrooms, and two half bathrooms
- Finished lower level with fireplace and additional half bathroom
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
$20,530
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
8.21%
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%
$410,600
$410.6K
Cap Rate 7%
$293,286
$293.3K
Cap Rate 9%
$228,111
$228.1K
Market Conditions
NOI Build-Up for 1,957 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
$39.9K $20.40/SF
− Vacancy
−$2.6K −$1.33/SF
EGI
$37.3K $19.07/SF
− OpEx
−$16.8K −$8.58/SF
NOI
$20.5K $10.49/SF
Area
ZIP 64119
Vacancy
6.50%
Lease Rate
$20.40 /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%
$410,600
Cap Rate 7%
$293,286
Cap Rate 9%
$228,111
Alternative Uses
Best Use
Apartment 5plus
$293.3K
$256.6K – $342.2K
NOI $20,530 @ 7.0% cap · market cap 8.21%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.46M
$1.28M – $1.70M
NOI $102,240 @ 7.0% cap · market cap 40.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Explore this area
Business Placement
Demographics for 64119, MO
30,865
Population
13,515
Households
2.3
Avg Household Size
39
Median Age
32%
College-Educated
94%
High-School Grad
14.5 sq mi
ZIP Area
2,129
Density / Sq Mi
$79,871
Median Household Income
$45,801
Median Earnings
$1,259
Median Rent
$216,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated townhome with finished lower-level living space, vaulted ceilings, and no HOA fees.
Where is this residential income property located?
The property is located at 7232 N Askew Ave Kansas City, MO.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Renovated townhome with 1,957 square feet of finished living area; Three bedrooms, two full bathrooms, and two half bathrooms; Finished lower level with fireplace and additional half bathroom
