Median Family Income $78,630
Median Home Price $220,883
Median Rent $529
Median Age 30.5
Job Growth 20.01%
Olathe, Kansas is a great place for your real estate investing capital. First, it is a city on the grow. By 2050 one recent projection put our population right at 320,000. There is good disposable income here, an excellent school district and plenty of shopping and dining.
A recent perusal of Hot Pads showed that there are currently 9 single family homes for rent here in Olathe. (We all know there are more but most people do not know how to market their rental properties.) But these 9 should give us a pretty clear indicator of the trends of Olathe. The 9 homes have a combined value of $1,719,000. (per Johnson County, Kansas courthouse tax records) The asked rental values of these homes is $14,465 per month. This translates to a 8.41 Gross Rent Multiplier.
Olathe, Kansas is a major suburb of Kansas City and offers endless choices when looking to invest in rental property real estate. Olathe also has an ample supply of duplexes. So whatever your criteria when looking to invest your hard earned capital you should at least look at Olathe, Kansas. If you are from out of state I can point you towards some very good property managers.
Feel free to call or email me to find out more about single family homes for your real estate investment portfolio.