Getting used to the Rental Property Calculator KC MO

Contractor · Los Angeles, CA · Member since 2017 · 10 posts · 10 votes

Hi friends!

I’ve been running some numbers and the added really nicely.

I am an out of state investor in Kansas City MO, and I am based in North Hollywood, CA.

I look at couple properties in ZIP 64130 I heard it’s a C class area.

I wanted to hear your thoughts about the numbers i put together and if you familiar with the area you can share some Pro and Cons.

Thank you fir hanging out here !

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Milton ChamberlainPro Member

Real Estate Agent · Kansas City, MO · Member since 2019 · 235 posts · 107 votes

That region will require some risk mitigation, and would be better suited for a local flipper specializing in those types of properties vs buy and hold OOS IMO.

I generally look for those regions between A/B and C/D markets. I.E. if you look a few blocks South you hit Marlborough (D market). Directly West of that is Waldo. In BETWEEN Waldo an Marlborough there are currently two quads listed on Campbell. I am going to go check them out for an OOS investor this weekend.

This specific area is primarily large apartment complexes and small multis, with B class SFR subdivisions directly North of that. Waldo Heights Apartments is adjacent to these currently listed quads. It is owned by Landmark Realty, a large San Fran based owner that owns ~6,000 units. This gives additional reassurance that this specific 'fringe' region between Waldo and Marlborough is a sound area to invest IMO. particularly in the long term.

Main issue with the Quads is price: they started at $550 asking in September of last year. They dropped the price 25k 3 times, with it sitting at $475k since January (4 months ago).

Ideally, these 'fringe' regions allow investors to acquire properties at C class prices, but with A/B class tenants/rent values. These regions are where I typically suggest looking if investors main goals are maximizing Cash flow/Cap rate/ COC return

[email protected]573-356-1607

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Alex Olson
Real Estate Broker · Kansas City Metro · Member since 2015 · 2k+ posts · 1k+ votes
2y
In general the further west you go in that zip code the class location improves. There are certain parts of that zip code I would consider a D or D- and in those cases it would be block by block specific. Hope that helps!
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Eilon Shoham
OP
Contractor · Los Angeles, CA · Member since 2017 · 10 posts · 10 votes
2y
Thank you Alex its helpful information .
I’ll do some extra research regards the area, I’m not looking to own in D or D-
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Milton ChamberlainPro Member
Real Estate Agent · Kansas City, MO · Member since 2019 · 235 posts · 107 votes
2y
That region will require some risk mitigation, and would be better suited for a local flipper specializing in those types of properties vs buy and hold OOS IMO.
I generally look for those regions between A/B and C/D markets. I.E. if you look a few blocks South you hit Marlborough (D market). Directly West of that is Waldo. In BETWEEN Waldo an Marlborough there are currently two quads listed on Campbell. I am going to go check them out for an OOS investor this weekend.
This specific area is primarily large apartment complexes and small multis, with B class SFR subdivisions directly North of that. Waldo Heights Apartments is adjacent to these currently listed quads. It is owned by Landmark Realty, a large San Fran based owner that owns ~6,000 units. This gives additional reassurance that this specific 'fringe' region between Waldo and Marlborough is a sound area to invest IMO. particularly in the long term.
Main issue with the Quads is price: they started at $550 asking in September of last year. They dropped the price 25k 3 times, with it sitting at $475k since January (4 months ago).
Ideally, these 'fringe' regions allow investors to acquire properties at C class prices, but with A/B class tenants/rent values. These regions are where I typically suggest looking if investors main goals are maximizing Cash flow/Cap rate/ COC return
[email protected]573-356-1607
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James Likis
Investor · Boston, MA · Member since 2019 · 47 posts · 22 votes
2y
I appreciate that breakdown @Milton Chamberlain. One of our properties is in Marlborough and it has been a pain. We’re investing in KC from out of state and would like to get into the multi family space down the road. Good to know about this little pocket for multifamilies.
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