We are back again this week with an amazing Kansas City property find! Why should you invest in this real estate market? We’re so glad you asked!
Kansas City is being developed as a strategic rail-hub to serve all points in the U.S. Warren Buffet’s company has invested $44 Billion into this project. On top of that, the Cerner Corporation has already begun construction on a $4.5 Billion campus that is expected to create 16,000 new jobs. While home prices are on the rise, Kansas City has also maintained an unemployment rate below the national average producing high rental demand from tenants with stable jobs.
So check out this single family home. Will it be your next investment?
Location: Kansas City, MO. Built In: 1960 (fully renovated)
Purchase price: $142,000 (not a foreclosure, normal sale)
Property info: 3 bedrooms, 1 bathroom, 936 square feet, 1 story, 1 car parking
Monthly rent collected: $1,200
Property taxes: $120
Property management fees: $89
Monthly expenses (conservatively estimated)
Vacancy (7%): $84
Repairs (5%): $60
Total Monthly Expenses- $408
Net Income = Income – Expenses = $793
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price =6.70%
Cash-on-cash return =
Depends on your leveraging.
- 90 day “bumper to bumper” maintenance warranty
If you are interested in this property or seeing others like it, contact Melissa at firstname.lastname@example.org.