SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                   FORM 10-QSB

(Mark One)

 X   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
---
ACT OF 1934

For the quarter period ended  February 28, 2002
                              -----------------

                                       OR

___ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE

ACT OF 1934

For the transition period from   ___________      To  ____________

                         Commission file number 000-11023

                    MAXUS REAL PROPERTY INVESTORS-FOUR, L.P.
        (Exact name of small business issuer as specified in its charter)

        Missouri                                    43-1250566
------------------------                        -------------------
(State or other jurisdiction of            (I.R.S. Employer Identification No.)
incorporation or organization)

104 Armour Road, North Kansas City, Missouri               64116
--------------------------------------------              -------
(Address of principal executive offices)                 (Zip Code)

Registrant's telephone number, including area code        (816) 303-4500
                                                         ----------------

Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the Registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes  X     No
    ----       ----










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<PAGE>





                                      INDEX


                                                                    Page
PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS:
              Balance Sheets                                          3
              Statements of Operations                                4
              Statements of Cash Flows                                5

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS
              OF OPERATIONS                                           7

PART II - OTHER INFORMATION                                           8

ITEM 1.  LEGAL PROCEEDINGS                                            8
ITEM 2.  CHANGES IN SECURITIES                                        9
ITEM 3.  DEFAULTS UPON SENIOR SECURITIES                              9
ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS          9
ITEM 5.  OTHER INFORMATION                                            9
ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K                             9


SIGNATURES                                                           10
EXHIBIT INDEX                                                        11



















                                       2
<PAGE>




PART 1 - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

                   MAXUS REAL PROPERTY INVESTORS - FOUR, L.P.
                             (A LIMITED PARTNERSHIP)
                                 BALANCE SHEETS
<TABLE>

                                                             February 28,    November 30,
                                                                2002             2001
                                                             (Unaudited)
<S>     <C>    <C>    <C>    <C>    <C>    <C>

ASSETS:
Investment property
   Land .................................................   $  1,014,000       1,014,000
   Buildings and improvements ...........................     15,713,000      15,615,000
                                                              ----------      ----------
                                                              16,727,000      16,629,000
   Less accumulated depreciation ........................      9,992,000       9,844,000
                                                              ----------      ----------
           Total investment property ....................      6,735,000       6,785,000

Cash ....................................................        935,000       1,048,000
Accounts receivable, less allowance for doubtful accounts            ---          30,000
Prepaid expenses ........................................         40,000          48,000
Deferred expenses, less accumulated amortization ........         90,000          93,000
Income tax deposit ......................................        109,000         109,000
                                                              ----------      ----------
           Total assets .................................   $  7,909,000       8,113,000
                                                              ==========      ==========

LIABILITIES AND PARTNERS' DEFICIT:

Liabilities:
   Mortgage notes payable ...............................   $  9,900,000       9,900,000
   Accounts payable and accrued expenses ................        221,000         216,000
   Real estate taxes payable ............................         23,000         125,000
   Refundable tenant deposits ...........................         88,000          94,000
                                                              ----------      ----------
           Total liabilities ............................     10,232,000      10,335,000
Partners' deficit .......................................     (2,323,000)     (2,222,000)
                                                              ----------      ----------
           Total liabilities and partners' deficit ......   $  7,909,000       8,113,000
                                                              ==========      ==========
</TABLE>







                                       3
<PAGE>



                   MAXUS REAL PROPERTY INVESTORS - FOUR, L.P.
                             (A LIMITED PARTNERSHIP)
                            STATEMENTS OF OPERATIONS
                                   (UNAUDITED)
<TABLE>
                                                                   Three Months Ended
                                                               February 28,   February 28,
                                                                   2002           2001
<S>     <C>    <C>    <C>    <C>    <C>    <C>

Revenues:
   Rental ...............................................     $  655,000        649,000
   Other ................................................         71,000         56,000
                                                                 -------        -------
           Total revenues ...............................        726,000        705,000
                                                                 -------        -------
Expenses:
   Depreciation and amortization ........................        150,000        135,000
   Repairs and maintenance, including common
      area maintenance ..................................         87,000         80,000
   Real estate taxes ....................................         35,000         34,000
   Interest .............................................        184,000        184,000
   Professional fees ....................................         67,000         30,000
   General and administrative ...........................         58,000         54,000
   Utilities ............................................         27,000         36,000
   Property management fees - related parties ...........         43,000         42,000
   Other ................................................         55,000         56,000
                                                                 -------        -------
           Total expenses ...............................        706,000        651,000
                                                                 -------        -------
           Net Income ...................................     $   20,000         54,000
                                                                 =======        =======
Net income allocation:
   General partners .....................................     $      ---          1,000
   Limited partners .....................................         20,000         53,000
                                                                 -------        -------
                                                              $   20,000         54,000
                                                                 =======        =======
Limited partners' data:
   Net income per unit ..................................     $     1.61           3.92
                                                                 =======        =======

   Weighted average limited partnership units outstanding         12,173         13,529
                                                                 =======        =======


</TABLE>




                                       4
<PAGE>




                    MAXUS REAL PROPERTY INVESTORS-FOUR, L.P.
                             (A LIMITED PARTNERSHIP)
                            STATEMENTS OF CASH FLOWS
                                  (UNAUDITED)
<TABLE>
                                                                   Three Months Ended
                                                               February 28,    February 28,
                                                                   2002           2001
<S>     <C>    <C>    <C>    <C>    <C>    <C>
Cash flows from operating activities:
    Net income .........................................     $    20,000         54,000
    Adjustments to reconcile net income to net
      cash provided by operating activities:
           Depreciation and amortization ..........              150,000        135,000
           Changes in accounts affecting operations:
                Accounts receivable ...............               30,000         21,000
                Prepaid expenses ..................                8,000        (21,000)
                Accounts payable and accrued expenses              5,000         99,000
                Real estate taxes payable .........             (102,000)        23,000
                Refundable tenant deposits ........               (6,000)         1,000
                Deferred expenses .................                  ---        (10,000)
                                                               ---------      ---------
                   Net cash provided by operating activities     105,000        302,000
                                                               ---------      ---------

Cash flows from investing activities - capital expenditures      (97,000)       (22,000)
                                                               ---------      ---------

Cash flows from financing activities - distributions ...        (121,000)           ---
                                                               ---------      ---------

                   Net (decrease) increase in cash              (113,000)       280,000

Cash, beginning of period ..............................       1,048,000      1,186,000
                                                               ---------      ---------

Cash, end of period ....................................     $   935,000      1,466,000
                                                               =========      =========

Supplemental disclosure of cash flow information -
    cash paid during the quarter for interest ..........     $   184,000        184,000
                                                               =========      =========
</TABLE>




                                       5
<PAGE>




                    MAXUS REAL PROPERTY INVESTORS-FOUR, L.P.
                            (A LIMITED PARTNERSHIP)
                    NOTES TO UNAUDITED FINANCIAL STATEMENTS
           THREE MONTHS ENDED FEBRUARY 28, 2002 AND FEBRUARY 28, 2001


(1) Summary of Significant Accounting Policies

Refer to the financial statements of Maxus Real Property Investors - Four, L.P.,
formerly known as Nooney Real Property Investors - Four, L.P. (the "Partnership"
or the "Registrant"),  for the year ended November 30, 2001, which are contained
in the  Partnership's  Annual Report on Form 10-KSB,  for a  description  of the
accounting policies which have been continued without change. Also, refer to the
footnotes  to those  statements  for  additional  details  of the  Partnership's
financial  condition.  The details in those  notes have not changed  except as a
result of normal  transactions  in the  interim.  In the  opinion of the general
partner,  all  adjustments  (which  include only normal  recurring  adjustments)
necessary to present  fairly the financial  position,  results of operations and
cash flows at February  28, 2002 and for all periods  presented  have been made.
The  results  for  the  three-month  period  ended  February  28,  2002  are not
necessarily indicative of the results which may be expected for the entire year.

Certain reclassifications have been made to the prior period amounts to conform
to the current period presentation.

(a) Description of Business

The Partnership is a limited  partnership  organized under the laws of the State
of Missouri  on  February  9, 1982.  The  Partnership  was  organized  to invest
primarily in income-producing  real properties such as shopping centers,  office
buildings and other commercial properties,  apartment buildings, warehouses, and
light  industrial  properties.  The  Partnership's  portfolio is comprised of an
apartment  building  located  in West St.  Louis  County,  Missouri  (Woodhollow
Apartments).

(b) Basis of Accounting

The financial statements include only those assets, liabilities,  and results of
operations  of the partners  which relate to the business of Maxus Real Property
Investors-Four, L.P. The statements do not include assets, liabilities, revenues
or expenses  attributable to the partners' individual  activities.  No provision
has been made for  federal  and state  income  taxes  since  these taxes are the
responsibility of the partners.




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<PAGE>



ITEM 2:    MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS

This  10-QSB  contains  forward-looking  information  (as defined in the Private
Securities  Litigation  Reform Act of 1995) that involves risk and  uncertainty,
including trends in the real estate  investment  market,  projected  leasing and
sales,  and future  prospects for the  Partnership.  Actual results could differ
materially from those contemplated by such statements.

Liquidity and Capital Resources

Cash as of February 28, 2002 was $935,000,  a decrease of $113,000 from November
30, 2001.  Cash provided from  operating  activities  for the three months ended
February  28, 2002 was  $105,000.  The  decrease in cash  provided by  operating
activities  was due  primarily  to payment of 2001 real estate taxes in December
2001. Investing activities used $97,000 due to property and equipment purchases.
Distributions of $10 per limited partner unit were paid in January 2002.

Results of Operations

For the three month period ended February 28, 2002, the Partnership's  revenues
were $726,000  compared  with  $705,000 for the three months ended  February 28,
2001.  Revenues  increased by $21,000 (3.0%) for the three months ended February
28, 2002  compared to the same period ended  February 28, 2001.  The increase in
revenue  is due to an  increase  in rental  income of  $6,000,  the result of an
increase in occupancy, and miscellaneous income of $15,000.

For the three month periods ended  February 28, 2002 and February 28, 2001,  the
Partnership's  expenses  were  $706,000  and  $651,000,  respectively.  Expenses
increased by $55,000 (8.4%) for the  three  month period ended February 28, 2002
compared to the same period ended February 28, 2001. The increase in expenses is
primarily due to an increase in  professional  fees of $37,000  resulting from a
property  tax  study  done in the  first  quarter  of 2002  and an  increase  in
depreciation and amortization expenses of $15,000.






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                                       7
<PAGE>



PART II.  OTHER INFORMATION



ITEM 1: LEGAL PROCEEDINGS



Maxus Real Property  Investors - Four,  L.P. and Maxus Capital Corp. v. O. Bruce
Mills, Case No.  01-0905-CW-W-SOW,  United States District Court for the Western
District of Missouri.

On August 17, 2001, the Registrant and its general partner, Maxus Capital Corp.,
filed suit against  defendant O. Bruce Mills  ("Mills")  for  securities  fraud,
injunctive  relief,   tortious  interference  with  contract,   and  declaratory
judgment.  These claims arose out of Mills' tender offer to the limited partners
of the Registrant in which the Registrant believes that Mills misrepresented the
legal  status  of  units  tendered  to him,  failed  to  disclose  possible  tax
consequences  of this  tender  offer  and  misrepresented  the  purposes  of the
Registrant's  self-tender  offer  that  closed  on or about  June 5,  2001.  The
Registrant  believes this lawsuit was necessitated by Mills'  misrepresentations
to the limited  partners  of the  Registrant  and his  refusal to correct  those
misrepresentations.

On October 5, 2001, Mills filed a motion to dismiss or to transfer claiming that
this case  should  either be  dismissed  or  transferred  to the  United  States
District Court for the Eastern  District of Missouri.  On November 26, 2001, the
Court rejected Mills' motion holding that this case was properly  brought in the
United States District Court for the Western  District of Missouri.  On December
6, 2001,  Mills filed a second  motion to dismiss,  this time  alleging that the
complaint fails to state claims upon which relief can be granted. The Registrant
and Maxus Capital  Corp.  opposed this second  motion to dismiss;  however,  the
motion was granted on or about February 13, 2002.

O. Bruce Mills v. Maxus Capital Corp. Corp. and Maxus Real Property  Investors -
Four, L.P., Case No. 01CC-004237, Circuit Court of St. Louis County, Missouri.

On December 11, 2001,  Mills filed suit against the Registrant and Maxus Capital
Corp.  in St. Louis County,  Missouri  alleging  that the  Registrant  and Maxus
Capital  Corp.  had refused to  recognize  Mills as the owner of units that were
tendered to him and had converted  distributions  allegedly owed to Mills. Mills
also brought a claim for injunctive  relief. On December 19, 2001, a hearing was
held on Mills' request for injunctive relief in which Mills sought an order from
the court  recording him on the books and records of the Registrant as the owner
for units that were  tendered  to him during his tender  offer and  seeking  the
escrow of any  distributions  made by the  Registrant  for the units tendered to
Mills.  The Court  refused to exempt  Mills  from  complying  with the  transfer
requirements  to  have  units  transferred  on  the  books  and  records  of the
Registrant,   but  the  Court  did  require  that  the  Registrant   escrow  any
distributions  made for units tendered to Mills until such time as the Court can
determine  who should  receive the  distributions.  Mills was required to post a
$7,000  bond as  security  for the  relief  granted  by the  Court.  On or about
February 26, 2002,  the  Registrant  and Maxus  Capital  Corp.  filed a pleading
responding to the claims brought by Mills. The Registrant  believes these claims
are meritless.

Bond Purchase, L.L.C. and Maxus Real Property Investors - Four, L.P. v. CGS Real
Estate  Company,  Inc.,  Case  No.  58 E  115  00016  01,  American  Arbitration
Association

An  arbitration  action was  brought  by the  Registrant  to  recover  insurance
premiums  paid by the  Registrant  that were being  wrongfully  withheld  by the
former management of the partnership,  CGS Real Estate Company, Inc. ("CGS"). On
April 26, 2001, an arbitration  hearing was held regarding this issue. On May 8,
2001, the arbitrator ruled in favor of the Registrant and awarded the Registrant
the entirety of the damages it was seeking ($18,731), all of its attorneys' fees
($14,583), post-judgment interest at a rate of 9% per annum from the date of the
award  until the award was paid in full,  and  denied  CGS any  recovery  on its
counterclaim.  The arbitrator also required that CGS pay all of the expenses for
the arbitration totaling $5,780. In December 2001, CGS paid all monies that were
due to the Registrant plus accrued interest.

                                       8
<PAGE>





ITEM 2.  CHANGES IN SECURITIES



None



ITEM 3.  DEFAULTS UPON SENIOR SECURITIES



None



ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS



None



ITEM 5.  OTHER INFORMATION



The Board of Directors  of the  Partnership's  general  partner  (Maxus  Capital
Corp.) declared a cash distribution of $10 per limited partnership unit that was
paid on January  10,  2002 to  holders  of record as of  January  1,  2002.  The
Partnership  anticipates  declaring  a  cash  distribution  of $10  per  limited
partnership unit each quarter.



ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K



         (a) Exhibits



             See Exhibit Index on Page 11



         (b) Reports on Form 8-K



             No  reports on Form 8-K  were filed by the  Registrant  during  the
             first quarter of 2002.





                                       9
<PAGE>



SIGNATURES



Pursuant  to  the  requirements  of  the  Securities  Exchange  Act of 1934, the
Registrant  has  duly  caused  this  report  to  be  signed on its behalf by the
undersigned thereunto duly authorized.









Dated: April 12, 2002           MAXUS REAL PROPERTY INVESTORS-FOUR, L.P.
                                By: MAXUS CAPITAL CORP.
                                    General Partner

                                By: /s/John W. Alvey
                                    John W. Alvey
                                    Director, Vice President
                                    Treasurer
                                   (Principal Financial and Accounting Officer)









                                       10
<PAGE>




EXHIBIT INDEX

Exhibit Number                    Description

3.1      Amended and Restated  Agreement and  Certificate of Limited Partnership
         dated April 7, 1982 is incorporated  by  reference to the Form 10-K for
         the year ended  November 30, 1999  filed  by  the  Registrant under the
         Securities Act of 1933 (File No. 000-11023)

3.2      Amendment of Certificate of Limited  Partnership date December 21, 1999
         is incorporated by reference to the Form 8-K filed by the Registrant on
         January 21, 2000 under the Securities Act of 1933 (File No. 000-11023)









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