It's north of Swope is where u wanna stay away from. The 30's and 40's are the worst, usually with the zip 64130. I'll buy stuff in he 20's if the neighborhoods are good. I can show you what i have going on if your interested while your in town.
We were there in the fall and looked at some apartment buidings. Some near Kessler Park, east of Chester. Others around 39th between Broadway and Troost. Also looked at some houses around 71 between about Swope and 31st. That sounds like the area you're recommending against. What do you think of the two area with the apartments?
The stuff north of Truman road by Kessler Park is good and have a couple homes in that area. One of my clients from OZ loves the homes in that area since they tend to buy stone and brick homes. The area between Broadway and Troost on 39th is Hyde park and is where i buy most of my A class properties. There is more money to be made in buying the SFH in that area than the multi when you run the numbers. The houses around 71 and swope are in a war zone, but i'll buy anything if i can make the numbers work. Not for the novice investor or faint of heart. But the risk is worth the reward, ROI's average around 30 to 35 percent. The area the apartments are in are good area's for investments.
I would agree with most of the comments posted. FYI there is a large project with the Police Department and a huge new crime lab around 27th St and Prospect. It will employ 1200 people, deploy many more police to the street as well as have an impact on local business and drive rents and hopefully prop values. Great cash flow to be had, but as the gentleman said, not for the novice or faint of heart. There are some turn key deals out there if you want SFR rentals. But be sure to go get a stellar property manager in place whom specializes in those areas.
Im optimistic about the inner city based on some of the public investment happening. Check out http://www.saferkc.com/.
The city is revitalizing the midtown area from Main to 71 highway. Obtaining good properties in these areas will be huge, i predict 7 to 10 years down the road. Younger home buyers are buying up older homes with personality in these areas.
Kyler Rice I'm scheduled to go to school at Fort Leavenworth for a year. I'm not sure if I'll stay in the area longer but my wife has been hinting to stay there a few more years after I'm done school.
We'll have to get together and talk when I get there.