515 NE Florence Avenue
Lee's Summit, MO 64063
- – beds
- – baths
- – sqft
- 12,796 sqft lot
- 1965 build
- – on site
Prime Duplex Investment Opportunity in Lee’s Summit – Owner-Occupant Option with Just 3.5% Down! Strong tenant demand in this well-located duplex in the heart of Lee’s Summit! Situated just off Chipman Road, this well-maintained two-unit property is surrounded by new shopping, dining, and top-rated schools in the Lee’s Summit School District. Each unit features a one-car garage, two spacious living areas (upstairs and downstairs), and a dedicated laundry area. Unit 515A has been fully remodeled with stainless steel appliances, updated countertops, brand-new flooring, modernized bathrooms, and fresh paint. This unit offers 3 bedrooms and 2 full baths, with an expected rent of $1,475/month. Unit 515B is a 3-bedroom, 1.5-bath unit with a long-term tenant (since 2015) on a month-to-month lease. It was last updated in 2015. Both units have separately metered utilities, with tenants covering all expenses. For investors, this is a turnkey property in an A-class submarket, while owner-occupants have a unique opportunity to purchase with as little as 3.5% down using FHA financing—live in one unit while renting out the other to offset your mortgage! Enjoy very low maintenance costs and high rental demand on this A class rental property which will appreciate nicely over time. Curious about the tax benefits that could be available to you as the new owner? Need help sourcing a lender well suited to financing this property? Reach out! Happy to help walk any investor through the process of acquiring cash flowing small multifamily rentals in Kansas City. Sorry, no seller financing available, please do not ask. Information deemed reliable but not guaranteed. Buyer and buyers agent responsible for verifying all information.
Last checked:
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Last updated Mar 28, 2025
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MLS# 2524728 —
The Building
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Year Built:1965
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Age Description:51-75 Years
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Construction Materials:Brick & Frame, Brick Veneer
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Roof:Composition
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Basement:true
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Unit Type:3 Bedroom
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# of Units Total:2
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Stories Total:2
Interior
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Laundry Features:In Garage
Financial & Terms
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Listing Terms:Cash, Conventional, FHA, VA Loan
Location
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Directions:Take exit 15A for i-470 towards Lee Summit. Take exit 10B for 291 South. Turn Right onto NE Tudor Rd. Turn Left onto NE Independence Ave. Turn Right onto NE Columbus St. Turn Left onto NE Florence Ave.
The Property
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Property Type:Residential Income
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Property Subtype:Duplex
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Parcel Number:61-220-05-08-00-0-00-000
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Lot Size SqFt:12796
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Lot Size Area:12796
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Lot Size Units:Square Feet
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Zoning:MF
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In Flood Plain:No
Listing Agent
- Contact info:
- Agent phone:
- (913) 426-5576
- Office phone:
- (913) 426-5576
Taxes
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Tax Total Amount:3209
Heating & Cooling
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Cooling:Electric
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Cooling:true
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Heating:Natural Gas
Utilities
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Utilities:Ind Heat And Air, Separate Meters
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Sewer:City/Public
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Water Source:Public
Schools
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High School District:Lee's Summit
The Community
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Subdivision Name:Hamel Heights
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Association:false
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Association Fee Frequency:None
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Type Of Management:Off-Site Mgmt
Parking
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Garage:true
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Parking Features:Garage
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
3/17/25
Mar 17, 2025
|
Price Changed | HMLS | $385,000 | -1.0% |
|
1/6/25
Jan 6, 2025
|
Listed / Active | HMLS | $389,000 |
