If we say we’re headed to the home of jazz, BBQ, and cash flow properties, do you think of Kansas City? Because you should! You are here at exactly the right time because big things are going on in the KC real estate market.
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. Will it be your next investment?
Location: Kansas City, MO
Built In: 1957 (but fully renovated)
Purchase price: $109,000 (not a foreclosure, normal sale)
Property info: 5 bedrooms, 2 bathrooms, 1,848 square feet, 1 story, 2 car garage
Monthly rent collected: $1,200
Property taxes: $98
Property management fees: $96
Monthly expenses (conservatively estimated)
Vacancy (7%): $84
Repairs (5%): $60
Total Monthly Expenses- $406
Net Income = Income – Expenses = $794
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price = 8.74%
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 firstname.lastname@example.org.
Take the plunge: you won’t regret it!