Kansas City TK $79,900 Purchase, Making 12% Cap

[Account Closed]

I just closed this deal in Kansas City last week through my TK contact. I am finding KC to be an attractive market this year with reasonable prices and good returns!  

City seems like an REI dream to me - 47% of residences in Kansas City are renters, with a high occupancy rate, according to my research.

The numbers:

Price: $79,500.00
Rent (gross income): $1000.00/per mo.
Property Mgmt Fee: $100.00/per mo.
Insurance Expense: $54.16/per mo.
Taxes: $66.15/per mo.
Net Income Per Month: $779.69
Net Income Per Year: $9356.28
Cap Rate: 12%

I bought it cash fully rented and it is producing monthly without a hitch :)

Anyone else finding KC to be fertile investing grounds?

[Charles Worth]

@Account Closed

What about Capex and Maintenance?

and yes KC is a good market.