Rental Property Update For Waldo

The Waldo neighborhood of Kansas City is seeing some pretty darned good activity right now on rental property.  I know of two different units that went up for rent about or less than 30 days ago.  One has a tenant already in it and one received a deposit last evening.  che-pi

As I’ve already told you a couple weeks back I’m seeing a lack of inventory that is ripe for cherry picking.  There are homes to be had.  But the “deals” everyone dreams of when watching their local news are just not there.  While it is certainly not a seller’s market in Waldo neither is it a buyer’s market.  If the inventory is priced according to it’s condition it will sell quickly.  Same goes for the rental possibilities.

Waldo is a section of Kansas City that I just love for rental properties.  If you are looking for an investment property it’s a great place to start.  I also I have my eye on a place up in the East Plaza area.

5 Comments

Filed under Investment Property, Kansas City neighborhoods

5 responses to “Rental Property Update For Waldo

  1. Brent

    Chris,

    You kept talking about Waldo, so I finally had to go to Wikipedia to see what part of KC you were talking about. Now I see that what you are calling Waldo is what I’ve always referred to, and heard referrred to as, “Brookside”. Of course, I only lived in KC for about 3 years, so I’ll defer to you.

    Brent

  2. Brent,
    Thanks for reading and commenting. Waldo and Brookside are both more “areas” than cities. There are no definitive borders. But there is a big difference between the two.

    Waldo basically runs from approx 85th St on the south to Gregory on the north. Holmes to State Line, east and west respectively.

    Brookside is a little more pricey, conservative and well-to-do than Waldo. While Waldo is definitely more eclectic.

  3. Brent

    Chris,

    Your description of Brookside certainly matches with my impression of it when I visited some friend’s homes there many years back, so I was surprised to think it was now a rental area. Your clarification helps me reconcile that.

    Thanks,
    Brent

  4. Brent

    Chris,

    I was poking around some other blogs and found this:

    http://blog.places-magazine.com/?p=278

    which lists Kansas City as the third highest places to experience retail distress in the next couple of years. I know that Blue Ridge Mall off of I-70 was bulldosed and that Bannister Mall is now suffering the same fate, but does this seem accurate to you?

    Generally, I had always thought that retail distress followed residential distress, but your posts seem to indicate that the residential market around KC (at least on the KS side) is still doing relatively well.

    Any thoughts? Maybe you could do a post on this?

    Thanks,
    Brent

  5. You are right in that it sounds like a blog post that should happen.

    In short, KC has more retail and dining space than any other large city in America per capita. That’s what a CCIM told me not too long ago. In other words, we Kansas Citians eat and then walk around a lot. 🙂

    But in a slower economy that simply has to take a hit, right? I mean, if you aren’t eating out as much and blowing as much of your capital on casual shopping it hurts all the local merchants, and therefore the entire local economy.

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