Category Archives: For Rent/For Sale

Investment Property in Emporia, Kansas For Sale

In September of 2017 I bought a cabin at Lake Kahola which is about a 22 mile bike ride away from Emporia, Kansas.  And since I usually drive through Emporia, KS on my way to and from Lake Kahola I’ve come to know the town pretty darned well.  I ride my bike there.  We buy groceries and house supplies and what-nots in Emporia.  And we eat there as there are some great little dives there.

I say all that to say I’ve really been studying this small Kansas city.  They lay claim to having the first Veteran’s Day, they are home to the Dirty Kanza some say they invented Disc Golf there, too.  You can read more at Visit Emporia.  And folks, if you are a real estate investor…this market is ripe.

For instance, I have discovered three fourplexes for sale by a co-op broker.  They are priced at $79,900 for the building with four one-bedrooms, $119,900 for four two-bedrooms, and 129,900 for the one with two one-bedrooms and two two-bedrooms.  All the rental properties are 50% leased.

While I have not yet walked the properties I can see from the pictures that there is quite a bit of deferred maintenance.  What I like is;

  • The neighborhood is solid.  I’ve ridden my bike through there a few times.
  • The neighborhood is in a great location….and not too far from the University.
  • Hospital right down the road.
  • I believe rents could be raised when condition is raised.

In my research of Emporia I’m stunned by how little professionalism there is in property management in regards to marketing and condition.  And I believe that sets us up nicely.  In that regard, we have requested rents and rent rolls a few times and have not heard back.  Sadly, this has been par for the course.

I’m guessing/estimating rents for the one-bedrooms to be in the $425 – $450 range while two-bedrooms are closer to $500 – $550 depending on condition.  Note that most are window unit air conditioning systems.

So, if you had two and two (one and two-bedrooms) your Gross Rents would be $1,850 m/l.  Take a purchase price of $129,900 and you end of with a Gross Rents to purchase ratio of roughly .17.  That’s nearly unheard of in Johnson County, Kansas and is even getting more difficult in Kansas City, Missouri…at least in neighborhoods we choose to recommend in regards to intangible value.

There are other rental homes that would be excellent buys as well.  Should you have any interest, reach out to me at your earliest convenience and we’ll send you a link to what we are seeing.  We’d love to help you with your “Retirement worth having.” by capitalizing on this market.

And the best part?  Jimmy and I have secured a local real estate broker to help us with the sales and management processes.  We have it all set up.  We just need a buyer.

Contact me or give me a call at 913-568-1579

 

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Cash Flow Income Property For Sale

We have a cash flow income property for sale.  Located in Grandview, MO, this home pencils out to a 10.7% cash on cash return with our professional management included and a 20.1% cash on cash return if you manage the home yourself.

rental property

The home was purchased by one of our investors with the intent of re-selling or renting and selling.  We have found a suitable tenant at $830/mo on a brand new one year lease.  This 3 bedroom, 1 bath home features new carpet, new vinyl flooring, many updated with the lighting and plumbing fixtures and new paint.

If you are involved with real estate investing in Kansas City and are looking more for immediate cash flow and are less concerned with appreciation, this is a home you have been looking for.  Visit our listing to find our analysis of returns.

Offered by
Ad Astra Realty, Inc
Olathe, KS
913-815-3473

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Kansas City Investment Property For Sale

Are you looking for Kansas City investment property that is for sale? Check our website links to see current status and to find out more details.

Duplex – 13139 S Brougham, Olathe, KS  – Priced at $200,000

Duplex – 1025 E Dover Circle, Olathe, KS – Priced at $215,000

Duplex – 705 N Washington St., Spring Hill, KS – Priced at $115,000

SFH – 705 N Woodland St., Olathe, KS – Priced at $98,000

The duplexes that are for sale are pretty much turn-key.  The single family house for sale in Olathe could use a make ready to the tune of about $6,000 – $7,500.  From there it would be a great rental house.

Let me know if you have any interest!

Chris Lengquist
Ad Astra Realty, Inc
913-815-3473

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House For Sale in Olathe, Kansas

olathe real estate

This 4 bedroom, 2.5 bath home in Olathe, Kansas is for sale and being offered at $185,000.  Follow this link to find out more!

House For Sale, Olathe, Kansas

Ad Astra Realty, Inc
2011 E Crossroads Lane
Olathe, KS  66062
913-815-3473

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House For Sale in Shawnee, Kansas

House for sale Kansas City

4814 Grove Street, Shawnee, KS  66226
Offered at $395,000

Find full details about this house for sale in Shawnee, Kansas.  There are so many energy efficiency upgrades in the 4 bedroom, 3.5 bath home that backs to woods that I am not even going to list them all here.  See our webpage for all the listing detail.  It’s a great house in the DeSoto School District.

Listed by Chris Lengquist
Ad Astra Realty, Inc
2011 E Crossroads Ln #305
Olathe, KS  66062
913-568-1579

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Raytown Investment Property For Sale

This Raytown home is for sale and would make either a great home for a new person or family looking to build memories and a life, or to continue it’s service as a wonderful rental home making good returns a given.

raytown investment property

This ranch home features 3 bedrooms and 2 full baths and a very roomy garage.  You’ll find beautiful hardwood floors and spacious rooms and closets.  Partially renovated in 2012 and sitting on a nice corner lot.  The house is offered at $74,750.

For you real estate investors out there the last tenant was there from 2012 until July of 2014 and liked the house but needed to move closer to their new job.  Rent was  $895.00 a month and $875 – $895 would be the expected range for any new tenants.  The house has been professionally managed and financials for the last 2 years would be available with any acceptable offer.

To see more pictures of this house follow this link: Raytown Home For Sale

House was current and active in the Heartland MLS as of July 29, 2014.  Any future dates this house may or may not still be available.

Chris Lengquist
KWR, Diamond Partners, Inc
Olathe, Kansas
913-322-7500 o
913-322-7515 d

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Gardner Fourplex For Sale

kansas city investment propertyTake a moment to check out this Gardner, Kansas Fourplex that is currently for sale.  It’s part of a community of fourplexes and just recently had the wood rot fixed and a received a new coat of exterior paint.  One of the units has been newly rehabbed and rented.  It’s 100% occupied at this time and ready for a new owner.  Could be part of a package of properties.

The current rents for this fourplex for sale are $565, $525, $545 and $525.  That’s a Gross Operating Income of $25,920 before any vacancies…but this place stays pretty full.

This investment property for sale in suburban Kansas City is offered at $199,500. If you would like more information, please feel free to give me a call.

Chris Lengquist
Keller Williams Realty
Diamond Partners, Inc
913-322-7515

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