Blenheim Research Hospital Kansas City

Blenheim Research Hospital Kansas City

New to Real Estate · Denver, CO · Member since 2018 · 18 posts · 13 votes

I'm an out of state investor purchasing in KCMO.  I'm hoping someone who is familiar with the urban areas of KC and the recent revitalization efforts there, will be able to help me in regards to a neighborhood question. Is anyone familiar with the Blenheim area? I have an opportunity to purchase a 3-2 house directly across the street from Blenheim Research Hospital on Meyer Blvd and I'm trying to decide if it makes sense to move forward with the purchase. I'm looking at both long-term and short-term rental options. The issue is that some of that area has gentrified, but most has not yet - so some of the numbers I'm finding could be lower than what I could price this house at. It has been completely remodeled top to bottom with all new major systems and a completely new interior. The other complication is that the area is close to Brookside, so when I look at some of the platforms for pricing, they appear to be using Brookside numbers, which I'm afraid is raising the rent to higher than what I could get for it. I get different numbers based on the different platforms that I use. Can anyone give me their thoughts on this location and/or recommend any other sites that might give me more accurate numbers? So far I've used Rentometer, Zillow, Evolve, Airdna, Mashvisor and the Airbnb site itself where there are only a few other str's showing in the Blenheim area. I left messages with several property management companies in Kansas City and have not received calls back.  This is my first purchase as an investor, so any help you can offer would be greatly appreciated!

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Investor · Kansas City · Member since 2020 · 64 posts · 55 votes
4y

@Laura Marks should be able to help out with PM stuff and works with several OOS investors-- specifically managing one right in this area on Meyer just east of Hwy 71 for one of my clients. 

Rent numbers @Cody Petersen gave are accurate in my experience. 

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  • Real Estate Agent · Kansas City · Member since 2020 · 63 posts · 52 votes
    4y

    I would say this is a C area. As far as a long-term rental, I would say you can get around $1300/mo in rent for a 3/2 in that area. I'm unsure of STR rates. However, the closer to Brookside you get the higher the rate will be since it gets closer to the plaza area. What are the other STR rates in the Blenheim area?


    Reach out if you think I can help! 

  • Rental Property Investor · Phillipsburg, NJ 08865 · Member since 2018 · 48 posts · 24 votes
    4y

    Kim, be sure to check with the town re their STR regulations. If they don't have any in place, but implement them down the road, it sounds like you could easily use this space for a medium term rental (few months at a time), especially near a hospital.

  • New to Real Estate · Denver, CO · Member since 2018 · 18 posts · 13 votes
    4y

    Thanks Cody!  I was finding similar numbers to the $1300. I'm wondering if I could bump it up some since it would be in the top percentile as far as architecture and condition. But it's good to get some backup on that $1,300 number as a base. I really appreciate your response!

  • New to Real Estate · Denver, CO · Member since 2018 · 18 posts · 13 votes
    4y

    Thank you so much for your response Felicia! Those were my thoughts exactly. I was hoping with that sort of location that it might be a good rental for traveling nurses. I'm going to be exploring that further.

  • Investor · Kansas City · Member since 2020 · 64 posts · 55 votes
    4y

    @Laura Marks should be able to help out with PM stuff and works with several OOS investors-- specifically managing one right in this area on Meyer just east of Hwy 71 for one of my clients. 

    Rent numbers @Cody Petersen gave are accurate in my experience. 

  • New to Real Estate · Denver, CO · Member since 2018 · 18 posts · 13 votes
    4y

    Thanks Garett for your help!  Laura and I just connected here on BP

  • Laura MarksBusiness Member
    Real Estate Broker · Independence, MO · Member since 2020 · 131 posts · 111 votes
    4y

    Happy to connect but I'm most excited that you're aware of what is happening in KCMO. Their economic development plans are great news for our city, coupled with the fact that you can actually see it happening. If you drive around KCMO there's street after street of rehabs happening. It's really great stuff happening!

  • Steven MayBusiness Member
    Real Estate Agent · Kansas City, MO · Member since 2018 · 262 posts · 250 votes
    4y

    As someone who owns several rentals in and around the area $1300/mo may be a stretch if it is very close to the highway. Although the hospital is there - most would likely agree not a area you would walk your dog at night. Yes, gentrification is happening but that area is still definitely C class. I'd underwrite for $1200/mo to be conservative but will leave that in the hands of a PM. The farther west you can get the better your hopes for STR purposes.

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