We are back with another Kansas City property! Get ready… Because these properties are being snatched up like you wouldn’t believe! Why, you ask? Because it is exactly the right time to invest in KC… big things are going on in this real estate market.
There has been an 8.5% increase in median rent over the past year, Warren Buffet and other major investors are pouring billions into the city, and there is only a 5.2% Unemployment Rate (compared with 5.6% national average). Not to mention the city is in the early stage of the recovery cycle (which means optimal price-to-rent ratios and upside potential for savvy investors!).
So check out this adorable single family home. Will it be your next investment?
Location: Independence, MO. Built In: 1969 (fully renovated)
Purchase price: $115,000 (not a foreclosure, normal sale)
Property info: 3 bedrooms, 2 bathrooms, 1,725 square feet, 1 story, 2 car garage
Monthly rent collected: $1,200
Property taxes: $133
Property management fees: $96
Monthly expenses (conservatively estimated)
Vacancy (7%): $84
Repairs (5%): $60
Total Monthly Expenses- $445
Net Income = Income – Expenses = $755
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price =7.88%
Cash-on-cash return =
Depends on your leveraging.
If you are interested in this property or seeing others like it, contact Melissa at firstname.lastname@example.org.