Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    605 La Harpe St Kirksville, MO 63501
    Back to Search
    Property profile & analytics

    605 La Harpe St, Kirksville, MO 63501

    View on Map
    • Residential income homes
    • 1,356 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 605 La Harpe St

    Year built
    2015
    Property type
    Residential income homes
    Property subtype
    Dormitories

    Description

    This exceptional Class A multifamily investment opportunity in Kirksville, Missouri, presents a compelling addition to any portfolio. The property, located at 605/607 W La Harpe St, comprises a well-maintained duplex built in 2015, boasting a total of 2,712 net rentable square feet across two units. Each unit offers 1,356 square feet of living space, featuring three bedrooms, two bathrooms, an attached single-car garage, an open floor plan, stainless steel kitchen appliances, and a spacious master suite. Currently enjoying 100% occupancy with leases extending to June 30, 2025, this property offers immediate cash flow and a proven track record of strong rental income. Situated on a sizable 14,700 square foot lot, the property is zoned residential and presents a low-maintenance investment with significant potential for long-term growth. The asking price is $325,000, translating to $162,500 per unit and $239.68 per square foot. This turnkey investment is ideal for those seeking a reliable and profitable addition to their real estate holdings. The property's popularity with ATSU students ensures consistent tenant demand. Don't miss this chance to acquire a high-performing asset in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Kirksville
    County
    Adair
    State
    Missouri
    Longitude
    -92.587
    Latitude
    40.1789

    Comparable in this City

    • Value Estimation by Request
      2,006 SF

      710 Shannon Ln

      Multifamily properties
      710 Shannon Ln, Kirksville, MO 63501
      View Details
    • Value Estimation by Request
      6,512 SF

      1001 Davis St

      Multifamily properties
      1001 Davis St, Kirksville, MO 63501
      View Details
    • Value Estimation by Request
      1,806 SF

      804 Harrison St

      APARTMENT HOUSE (UNDER 5 UNITS)
      804 Harrison St, Kirksville, MO 63501-3154
      View Details
    • Value Estimation by Request
      813 SF

      207 Woodwind Ct

      Multifamily properties
      207 Woodwind Ct, Kirksville, MO 63501
      View Details
    • Value Estimation by Request
      813 SF

      206 Woodwind Ct

      Multifamily properties
      206 Woodwind Ct, Kirksville, MO 63501
      View Details
    • Value Estimation by Request
      2,455 SF

      716718 Osteopathy

      APARTMENT HOUSE (5+ UNITS)
      716718 Osteopathy, Kirksville, MO 63501
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,160 SF

      Profitable Gas Station with Apartments

      Gas station, convenience store, and apartments with diversified income.
      23284 State Highway H, Kirksville, MO 63501
      View Details
    • $45,900

      Kirksville Multifamily Investment Opportunity

      Six-unit property near downtown Kirksville, ideal for value-add investors.
      311 E Harrison St, Kirksville, MO 63501
      View Details
    • Contact for pricing
      1,440 SF

      Renovated Townhome Near University

      Move-in-ready, renovated townhome with garage near AT Still University.
      901 W Sundown Dr, Kirksville, MO 63501
      View Details
    • $240,000
      0.38 Acres

      Kirksville Mixed-Use Property For Sale

      Well-maintained property near universities with commercial zoning and expansion potential.
      606 S Franklin St, Kirksville, MO 63501
      View Details
    • $34,500
      0.67 Acres

      Residential Lot in Bowers Addition

      Spacious residential lot in Kirksville's desirable Bowers Addition.
      Meadow Ln, Kirksville, MO 63501
      View Details
    • Contact for pricing

      Modern Restaurant Building For Sale

      Established restaurant in high-traffic area with highway frontage.
      1702 S Baltimore St, Kirksville, MO 63501
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Available For Rent

      Retail spaces available, ranging from 1,500 to 6,000 SqFt.
      2104 N Baltimore St, Kirksville, MO 63501
      View Details
    • Contact for pricing
      1,375 SF

      Retail Outlots with Drive-Thru

      Retail outlots available near Truman State University.
      2110-2118 S Baltimore St, Kirksville, MO 63501
      View Details
    • Contact for pricing

      Kirksville Commercial Land For Lease

      Commercial land available for lease in Kirksville, Missouri.
      2110 S Baltimore St, Kirksville, MO 63501
      View Details
    • Contact for pricing

      Versatile Buildings with High Visibility

      Two buildings with office, truck bays, storage, and loading dock.
      18062 Round Barn Way, Kirksville, MO 63501
      View Details
    • $5 SF/Yr

      Retail Space For Rent

      Retail space available for lease in Kirksville, Missouri.
      2110 South Baltimore St, Kirksville, MO 63501
      View Details
    • Contact for pricing
      6,000 SF

      Retail Space Near University Hub

      Retail space in Kirksville, shadowed by Wal Mart.
      2104-2106 N Baltimore St, Kirksville, MO 63501
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    605 La Harpe St
    Kirksville, MO 63501
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    605 La Harpe St, Kirksville, MO, 63501
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!