Why buy investment properties in Kansas City? 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 with $970 coming in every month. Will it be your next investment?
Location: Kansas City, MO
Built In: 1953 (but fully renovated)
Purchase price: $199,000 (not a foreclosure, normal sale)
Property info: 3 bedrooms, 3 bathrooms, 1,870 square feet, 2 stories, 2 car garage
Monthly rent collected: $1,600
Property taxes: $185
Property management fees: $128
Monthly expenses (conservatively estimated)
Vacancy (7%): $112
Repairs (5%): $80
Total Monthly Expenses- $630
Net Income = Income – Expenses = $970
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price = 5.85%
Cash-on-cash return =
Depends on your leveraging.
- 12 Month Rental Warranty
- 12 Month Maintenance Warranty
If you are interested in this property or seeing others like it, contact Melissa at email@example.com.
Take the plunge: you won’t regret it!