I love Kansas City and I make no apologies for that!. This is a city I feel welcomed each time I visit. Real Estate entry point is relatively affordable compared to other competing cities and rents are great.
There are a few markets in the U.S. that are booming in terms of rental real estate opportunities and acquisitions. Currently, Kansas City is at the top of that list. The growing population, strong local economy, and diverse housing inventory are just a few of the factors that make it one of the best areas for investment. I’ve posted before about the city as a whole and the investment opportunities within it, but now I want to dive a little deeper and go over some specific locations within the KC metro that investors should target. Here are a few of the areas in Kansas City where you should be focusing your search for great rental properties:
Waldo – Waldo is one of Kansas City’s most beloved neighborhoods, with its diverse mix of housing, shops, restaurants, and recreational opportunities. Close to the heart of the city, Waldo has great walkability and is conveniently located to public transportation and highways. The community is very close-knit and bills itself as “a family neighborhood on the edge of a big city.”
Real estate opportunities abound here, and you can find a number of properties ranging from Class A to Class C. There are single family homes in abundance, but multi-family units such as duplexes, fourplexes, and even apartments can be found as well. Whatever your investment goals and strategy are, Waldo is virtually guaranteed to have a property suited to your unique needs and attract quality renters that will keep your profit margins up.
Grandview – Located immediately south of Kansas City, Grandview is a diverse suburb of approximately 25,000 people. With convenient access to KC but still very much a family-friendly suburb, Grandview caters to people who want the best of both worlds. The city is also the fastest-growing community in Jackson County, thanks to the dramatic rebound in population and economic growth in the last few years.
The city’s newly revitalized areas are attracting people from all the over the metro and beyond, making it an ideal location for investors to score excellent cash-flowing properties. Homes range widely in type (single and multi-family), class, condition, and price, so there really is something for everyone.
Raytown – If you head slightly northeast from Grandview, you’ll find yourself in Raytown, MO. The city boasts a population of nearly 30,000 people and covers approximately 10 square miles. Like Grandview, Raytown is another working class city that’s in a period of growth and change, with revitalization projects happening throughout the community.
The average home price in Raytown stands at $105,000, with an inventory that usually sits at over 100 homes. This means there are a lot of options for investors, whether you’re into flipping homes or using a buy-and-hold strategy. Raytown also has lots of opportunities for residents in terms of available jobs, city amenities, and a convenient location in the KC metro, which makes it an attractive area for potential renters.
These are only three of the localized areas within Kansas City that are ideal for property investors. There are plenty others as well, such as Independence, Raymore, and neighborhoods like Brookside and Ruskin Heights that are in KC proper. Finding a great cash-flowing property in the Kansas City area isn’t difficult, thanks to the huge variety of housing options and the amazing growth the city is currently experiencing. My advice to investors is to find a specific community (or two or three or more) that’s positioned for growth well into the future, and make your move sooner rather than later.