Kansas City Rental Comps

[Riley F.]

I'm an out of state investor looking for some thoughts on rental comps for a couple of properties. Anyone in the KC area with some expertise mind taking a quick look? My thoughts are below, but it would seem this is more of an art than a science. This is using a combination of Zilpy, Rentometer, Padmapper, and Hotpads, though exact comps are tough to come by. It's crazy how much of my valuation hinges on this one number, and now that I'm getting ready to put in offers, I'm starting to realize that my model will suffer from serious GIGO (Garbage in garbage out) if I can't nail down rental comps. A delta of $50-100 in this number changes my cash on cash return from a health 12% to an anemic 5.5% - 6%.

http://www.realtor.com/realestateandhomes-detail/9003-Central-St_Kansas-City_MO_64114_M81049-20007

$1,050

http://www.realtor.com/realestateandhomes-detail/7632-Pennsylvania-Ave_Kansas-City_MO_64114_M76595-91994

$1,300

Any advice on how you came up with the comp would be very appreciated!

Thanks in advance.

Riley