The Kansas City real estate market is pretty hot right now, and we expect it will stay that way throughout 2021. With interest rates still historically low and more demand than supply, it’s a great time to be selling a home.
It’s also a great time to invest in a Kansas City rental property, especially if you want to rent that property out.
There’s a large pool of well-qualified tenants looking for great rental housing. If you have a well-maintained home in a desirable location to offer, you’re going to have a successful investment experience.
We’re often asked about the best areas to invest in when a buyer is looking to acquire something in Kansas City. Typically, it depends on your investment goals. We do have some ideas, however, and we’re sharing those in today’s blog.
Where to Invest in Kansas City Suburban Rental Homes
Some of the best places to look for well-maintained, rent-ready Kansas City homes include:
- Liberty, which is less than half an hour from downtown Kansas City and known for its great schools, safe neighborhoods, and high quality of life. Single-family homes are affordable and attractive to well-qualified tenants.
- Parkville, where there are comfortable homes and tenants are willing to pay higher rents for great neighborhoods and upgraded amenities.
- Gladstone, which is close to the airport and a short commute to downtown Kansas City. This is an excellent neighborhood for first-time investors and experienced pros who are growing their investment portfolios.
Investors looking for rental properties that have everything suburban tenants want without sacrificing the energy and culture of an urban community will want to go North of the River. The Northland offers fine dining, great shopping, and every convenience that’s needed, making this an outstanding and highly desirable neighborhood for the city’s best tenants.
Consider Your Prospective Kansas City Tenants
Investors looking at potential properties will want to consider how much they’re willing to spend and what they’ll need to earn to make the investment a good one.
This comes down to understanding your potential rental value and your potential tenants.
You’ll find tenants in Kansas City and the surrounding suburbs who are students, professionals, families, and retirees. The best place to buy will be a neighborhood that attracts a lot of these tenants. It may be in a great school district or close to commuter routes.
When you’re choosing the neighborhood to invest in, make sure you’re thinking about your likely tenants. Rehab properties can be tempting because they come with a lower price tag. However, the more work you have to put in, the longer your wait before you can list the home, find a tenant, and start collecting rent. Look for a property that’s as close as possible to move-in ready.
Working with Kansas City Property Management
Talk to a Kansas City property manager who can help you estimate what kind of rents you’ll earn on a potential investment property. You don’t want to count on the rental values you find on Zillow, Zumper, and other sites. Get reliable data that also considers vacancy time.
We’d be happy to help you identify an ideal investment property in Kansas City and the surrounding areas. Contact us at Donley Carver Investment Properties.