kansas City B Neighborhoods

Multi-Family and Apartment Investing
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kansas City B Neighborhoods

Jason MalabuteBusiness Member
Accountant · Los Angeles, CA · Member since 2016 · 2k+ posts · 898 votes

Are there any multi family real estate investors and multi family brokers that can help me determine the average 2 bedroom rent range, average 1 bedroom rent range, price per unit, and cap rates for the following Kansas City B neighborhoods:

SOUTH KANSAS CITY64137
Excelsior Springs64024
Kansas City64131
Belton64012
Downtown Kansas Ciity64108
Grandview64030
North Kansas City64116
North Kansas City64117
North Kansas City64120
Ruskin Heights64134
Kansas City64129
Independence64050
Independence64051
Independence64052
Independence64053
Independence64054
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Marc Edwards
Real Estate Agent · Blue Springs, MO · Member since 2015 · 104 posts · 49 votes
5y

This is a very good question! The avg. rents for a an 2/1 apartment is around $875 or so depending to give you a good number to work with. A couple of sources that you can check out are www.rentometer.com or www.rentcafe.com The rents in Kansas city are increasing and in my opinion will continue to rise for the next few years. The cap rate varies especially in this market where wholesalers are acting like listing agents and asking retail prices. The cap rate is a nice number to look at but do not let that be the sole determining factor in your purchase. Sometimes it does not reflect the strength of the investment. The cap rate does not take in account certain things like leverage, future cash flow from forced appreciation and things like that. I would love to chat more with you. Looks like you have picked out some nice zip-codes.  I wish you the best with your investments!

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  • Marc Edwards
    Real Estate Agent · Blue Springs, MO · Member since 2015 · 104 posts · 49 votes
    5y

    This is a very good question! The avg. rents for a an 2/1 apartment is around $875 or so depending to give you a good number to work with. A couple of sources that you can check out are www.rentometer.com or www.rentcafe.com The rents in Kansas city are increasing and in my opinion will continue to rise for the next few years. The cap rate varies especially in this market where wholesalers are acting like listing agents and asking retail prices. The cap rate is a nice number to look at but do not let that be the sole determining factor in your purchase. Sometimes it does not reflect the strength of the investment. The cap rate does not take in account certain things like leverage, future cash flow from forced appreciation and things like that. I would love to chat more with you. Looks like you have picked out some nice zip-codes.  I wish you the best with your investments!

    1Reply
  • Jason MalabuteBusiness Member
    OP
    Accountant · Los Angeles, CA · Member since 2016 · 2k+ posts · 898 votes
    5y
    Originally posted by @Marc Edwards:

    This is a very good question! The avg. rents for a an 2/1 apartment is around $875 or so depending to give you a good number to work with. A couple of sources that you can check out are www.rentometer.com or www.rentcafe.com The rents in Kansas city are increasing and in my opinion will continue to rise for the next few years. The cap rate varies especially in this market where wholesalers are acting like listing agents and asking retail prices. The cap rate is a nice number to look at but do not let that be the sole determining factor in your purchase. Sometimes it does not reflect the strength of the investment. The cap rate does not take in account certain things like leverage, future cash flow from forced appreciation and things like that. I would love to chat more with you. Looks like you have picked out some nice zip-codes.  I wish you the best with your investments!

     Hi Marc,
    I saw your response that the average rent is $875 for 2/1. Is this for all of the zips i mentioned? Would you know the price per unit and cap rates? I tried calling you, but was unable to reach you. 

    The reason why I don't depend on rent-o-meters rent estimates because it includes SFH in estimates

    Thank you

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    • Laura MarksBusiness Member
      Real Estate Broker · Independence, MO · Member since 2020 · 127 posts · 111 votes
      5y
      Originally posted by @Jason Malabute:
      Originally posted by @Marc Edwards:

      This is a very good question! The avg. rents for a an 2/1 apartment is around $875 or so depending to give you a good number to work with. A couple of sources that you can check out are www.rentometer.com or www.rentcafe.com The rents in Kansas city are increasing and in my opinion will continue to rise for the next few years. The cap rate varies especially in this market where wholesalers are acting like listing agents and asking retail prices. The cap rate is a nice number to look at but do not let that be the sole determining factor in your purchase. Sometimes it does not reflect the strength of the investment. The cap rate does not take in account certain things like leverage, future cash flow from forced appreciation and things like that. I would love to chat more with you. Looks like you have picked out some nice zip-codes.  I wish you the best with your investments!

       Hi Marc,
      I saw your response that the average rent is $875 for 2/1. Is this for all of the zips i mentioned? Would you know the price per unit and cap rates? I tried calling you, but was unable to reach you. 

      The reason why I don't depend on rent-o-meters rent estimates because it includes SFH in estimates

      Thank you

      HI Jason, 

      I'd love to chat with you about your rents. I know the area very well, as I managed about 500 sfh in these area's. I can tell you what will rent and how much you can go over the market in these areas. Feel free to message me, I'd love to help. 

      Laura

      816-592-1185
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  • Caleb Brown
    Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
    5y

    I'd stay away from 64053 and 64054. A few of those zip codes are C/C+ areas. Average rent ranges. Lower end 750, higher end 900.

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    • Jason MalabuteBusiness Member
      OP
      Accountant · Los Angeles, CA · Member since 2016 · 2k+ posts · 898 votes
      5y
      Originally posted by @Caleb Brown:

      I'd stay away from 64053 and 64054. A few of those zip codes are C/C+ areas. Average rent ranges. Lower end 750, higher end 900.

      Thank you. That's the kind of feedback I'm looking for. $750-900 rents are for apartments in  B neighborhoods right? 

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  • Melinda McDonald
    Property Manager · Kansas City · Member since 2021 · 58 posts · 42 votes
    5y

    Jason - 

    Rents should range between $750 to $950.  Of course, much would depend on the condition of the units and the actual location.  Some of the Independence zip codes may be a bit lower.  Fell free to message me if I can assist with any PM needs as you move through the process.

    Melinda

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    • Jason MalabuteBusiness Member
      OP
      Accountant · Los Angeles, CA · Member since 2016 · 2k+ posts · 898 votes
      5y
      Originally posted by @Melinda McDonald:

      Jason - 

      Rents should range between $750 to $950.  Of course, much would depend on the condition of the units and the actual location.  Some of the Independence zip codes may be a bit lower.  Fell free to message me if I can assist with any PM needs as you move through the process.

      Melinda

      Thanks $750-900 rents are for apartments in B neighborhoods right?

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  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
    5y

    Wow. Not asking a lot are we now....?

    0Reply
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