Building Details

Building Size 2,010 SF

Year Built 1970

Stories 2

Listing Agency: United Real Estate Kansas City m***@gmail.com Show Phone

Listed By: Carly Estes · License #2019040350 Show Phone

Source: Coloniallistings

Added: Aug 14 Changed: Aug 15 Last Checked: Aug 16 at 2:25PM

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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 United Real Estate Kansas City

Investment Insights

Based on property information with market context.

This duplex property was built in 1970 and has undergone extensive interior and exterior updates. Improvements include a new roof, new windows, new flooring, a redesigned kitchen, and renovated bathrooms. The layout offers 3 bedrooms and 2.5 bathrooms, along with a finished basement that can accommodate a family room, office, playroom, gym, or entertaining area. An attached 1-car garage adds storage and everyday convenience.

The property is located within the North Kansas City School District at 7232 N Monroe Avenue in Gladstone, Missouri. Shopping, dining, entertainment, and highway access are available within the surrounding Kansas City area.

Key Highlights

• 3‑bedroom, 2.5‑bathroom layout
• Finished basement with flexible additional living space
• New roof, windows, and flooring

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

$22,971

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

9.19%

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%

$459,420 $459.4K

Cap Rate 7%

$328,157 $328.2K

Cap Rate 9%

$255,233 $255.2K

Market Conditions

NOI Build-Up for 2,010 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

$35.0K $17.40/SF

− Vacancy

−$2.2K −$1.07/SF

EGI

$32.8K $16.33/SF

− OpEx

−$9.8K −$4.90/SF

NOI

$23.0K $11.43/SF

Area

ZIP 64119

Vacancy

6.17%

Lease Rate

$17.40 /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%

$459,420

Cap Rate 7%

$328,157

Cap Rate 9%

$255,233

Alternative Uses

Best Use

Multifamily LT 5

$328.2K

$287.1K – $382.9K (±1% cap)

NOI $22,971 @ 7.0% cap · market cap 9.19%

Second Best

Apartment 5plus

$301.2K

$263.6K – $351.4K (±1% cap)

NOI $21,086 @ 7.0% cap · market cap 8.44%

Theoretical Best

Warehouse

$1.50M

$1.31M – $1.75M (±1% cap)

NOI $105,009 @ 7.0% cap · market cap 42.02%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Restaurant Dental Office Parking Lot & Garage Auto Repair Shop Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Duplex - Updated property featuring refreshed interiors, flexible lower-level space, and an attached garage.

Where is this duplex located?

The property is located at 7232 N Monroe Avenue Gladstone, MO.

What is the asking price?

The asking price for this property is $249,900.

What are key features of this property?

This property features: 3‑bedroom, 2.5‑bathroom layout; Finished basement with flexible additional living space; New roof, windows, and flooring