Wabash Ave, Kansas City, MO

  • Price: $159,000
  • Rent: $1,250
  • Cap Rate: 7.1%
  • Monthly NOI: $942
  • Monthly Expenses: $246
  • Type: Single Family Home
  • Year: 1919
  • Bedrooms: 3
  • Bathrooms: 1
  • Floor area: 1145

This property just appraised for $166,000, so it comes with $7,000 built-in equity! That’s hard to come by with turnkeys.

Speaking of appreciation, appreciation can be a bit hard to find in turnkey markets in general, but this property is in the Blue Hills neighborhood of Kansas City, which has been a neighborhood that has been consistently outpacing a lot of other nearby neighborhoods. This property is located close just south of midtown near The Plaza, UMKC, Rockhurst, and other desirable locations. So not only does it come with built-in equity, but it holds a strong chance of strong appreciation down the road! (we can’t make promises, of course, but if any property is set to increase in value, this one is a great candidate!)

In addition to the awesome location, this property’s rehab includes: refinished hardwood and new flooring throughout, fireplace, updated electric, pex supply and PVC drain plumbing, a newer HVAC unit, new roof, double pane windows, and the property has a full unfinished basement (which could be finished for value-add later on if you wanted!)

Check out this property tour video to get a better feel for the property!

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