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 single family home. Will it be your next investment?
Location: Kansas City, MO. Built In: 1965 (fully renovated)
Purchase price: $129,000 (not a foreclosure, normal sale)
Property info: 4 bedrooms, 3 bathrooms 1,780 square feet, 1 story
Income
Monthly rent collected: $1,300
Expenses
Monthly expenses
Property taxes: $129
Insurance: $81
Property management fees: $104
Monthly expenses (conservatively estimated)
Vacancy (7%): $91
Repairs (5%): $65
Total Monthly Expenses- $469
Net Income = Income – Expenses = $831
Advanced Numbers
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price =7.73%
Cash-on-cash return =
Depends on your leveraging.
If you are interested in this property or seeing others like it, contact Melissa at melissa@hipsterinvestments.com.
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We’ll send them to you!
