ABOUT Kansas City
Big things are happening in Kansas City! Google confirmed plans for a $1 Billion data center in the Kansas City MSA…and then bought an even larger site for another data center nearby. The White House recently announcedKansas City ‘s designation as a “regional innovation and technology hub”, giving it access to grants to support the growth of the tech sector. The population influx and low unemployment has created strong rental demand sorents are rising but the cost of living is still well below the national average.Kansas City was ranked in the Top 7 “Most Affordable, Fastest Growing” cities for 2024 and the 4th Most Affordable Market in the U.S. (Sources: Mortgage Monitor, GoBankingRates, KC Business Journal, RentCafe).
Olive Street Kansas City, MO
RESERVE THIS PROPERTY
Reservation Terms:
Request to Submit an Offer to Purchase. The Prospective Purchaser requests the right to submit an Offer to Purchase the above specified property from the Seller. The Seller may solicit similar reservations from other Prospective Purchasers and may take as many reservations as Seller deems appropriate.
Purchase Contract and Earnest Money Deposit. Upon receipt of this reservation, the Seller may send to Prospective Purchaser a Purchase and Sale Agreement as well as instructions on where to send an Earnest Money Deposit that will be governed by the terms of the Purchase and Sale Agreement signed between Seller and Prospective Purchaser.
Not a Sale. By execution of this Reservation, the Prospective Purchaser shall not obtain any interest in the property. This Reservation is not a contract for the sale of real property.
Obligation. The Prospective Purchaser has no obligation under this Reservation unless and until the Prospective Purchaser enters into a Purchase and Sale Agreement with the Seller. In such event, the terms and conditions of the Purchase and Sale Agreement shall supersede the terms and conditions of this Reservation and this Reservation shall terminate and be in no further force or effect with the exception of the “Non-Representation and Indemnity of Referring Brokerage” clause which shall remain in effect.
Termination. This Reservation may be terminated upon the happening of any of the following:
- The Prospective Purchaser does not enter into a written Purchase and Sale Agreement for the specified property
- The Purchase and Sale Agreement is rejected by the Seller for any reason.
Transfer or Assignment. The rights of the Prospective Purchaser hereunder may not be transferred or assigned without the express written consent of the Seller, which consent may be withheld for any reason. Any attempt to transfer or assign this Reservation prior to such written approval shall automatically terminate this Reservation and the Prospective Purchaser shall have no further rights hereunder.
Non-Representation and Indemnity of Referring Brokerage. Maverick Investor Group, LLC (“Maverick”) does not represent the Prospective Purchaser in any capacity and has made no statements, promises or representations regarding the real property. Nor does Maverick represent the Seller in any capacity. Maverick’s only role has been to refer the Prospective Purchaser to the Seller. Prospective Purchaser agrees to indemnify, defend and hold Maverick harmless from all claims, damages, costs, etc. (including attorney’s fees) relating to any real property transaction between Seller and Prospective Purchaser. Furthermore, Prospective Purchaser agrees that Maverick has introduced them to a buying opportunity for real property only and not to a securities offering.
OFFERED BY THE SELLER
- 90 Day Scope of Work Warranty
Snapshot Financials
Price:
$ 138000
Rent:
$ 1300 / mo
Taxes:
Estimated Property Taxes
$ 68.3333
Estimated Insurance
$ 83.4167
HOA Fee:
Home Owners Association Fee
$ 0
PM Fee:
Property Management Fee
$ 104
Other:
$ 0
Other:
$ 0
Vacancy:
Based on 7%
$ 91
Repairs:
Based on 5%
$ 65
Total:
Total Monthly Expenses
$ 411.75
NOI:
Monthly Net Operating Income ('NOI') = Monthly Gross Scheduled Rent - Monthly Operating Expenses - 5% Maintenance Estimate - 7% Vacancy Estimates. NOI does not take into account any financing that you may be using. The NOI is always an 'estimate' and can never be guaranteed because it includes the non-fixed variables of 'maintenance' and 'vacancy' which vary over time.
$ 888 / mo
Cap Rate:
Capitalization Rate ('Cap Rate') = Annual Net Operating Income / Purchase Price. Cap Rate does not take into account any financing you may be using nor any closing costs you may be paying.
7.72 %
GRM:
Gross Rent Multiplier ('GRM') = Purchase Price / Annual Gross Scheduled Rent. GRM is only a price to rent ratio and does not take into account any operating expenses, financing, closing cost payments or maintenance and vacancy assumptions. And remember, GRM is like a golf score, the lower the better.
8.85
Property Features
Type:
Single Family Home
Condition:
Fully Renovated as Condition of Closing
Rental Status:
Tenant in Place as Condition of Closing
Year Built:
1920
Bedrooms:
2
Bathrooms:
1.0
Floor Area:
1113 Sq Ft
Lot Size:
8,763 SqFt
Stories:
n/a
Basem*nt:
Unknown
Parking:
n/a
Watch Now
RESERVE THIS PROPERTY
Reservation Terms:
Request to Submit an Offer to Purchase. The Prospective Purchaser requests the right to submit an Offer to Purchase the above specified property from the Seller. The Seller may solicit similar reservations from other Prospective Purchasers and may take as many reservations as Seller deems appropriate.
Purchase Contract and Earnest Money Deposit. Upon receipt of this reservation, the Seller may send to Prospective Purchaser a Purchase and Sale Agreement as well as instructions on where to send an Earnest Money Deposit that will be governed by the terms of the Purchase and Sale Agreement signed between Seller and Prospective Purchaser.
Not a Sale. By execution of this Reservation, the Prospective Purchaser shall not obtain any interest in the property. This Reservation is not a contract for the sale of real property.
Obligation. The Prospective Purchaser has no obligation under this Reservation unless and until the Prospective Purchaser enters into a Purchase and Sale Agreement with the Seller. In such event, the terms and conditions of the Purchase and Sale Agreement shall supersede the terms and conditions of this Reservation and this Reservation shall terminate and be in no further force or effect with the exception of the “Non-Representation and Indemnity of Referring Brokerage” clause which shall remain in effect.
Termination. This Reservation may be terminated upon the happening of any of the following:
- The Prospective Purchaser does not enter into a written Purchase and Sale Agreement for the specified property
- The Purchase and Sale Agreement is rejected by the Seller for any reason.
Transfer or Assignment. The rights of the Prospective Purchaser hereunder may not be transferred or assigned without the express written consent of the Seller, which consent may be withheld for any reason. Any attempt to transfer or assign this Reservation prior to such written approval shall automatically terminate this Reservation and the Prospective Purchaser shall have no further rights hereunder.
Non-Representation and Indemnity of Referring Brokerage. Maverick Investor Group, LLC (“Maverick”) does not represent the Prospective Purchaser in any capacity and has made no statements, promises or representations regarding the real property. Nor does Maverick represent the Seller in any capacity. Maverick’s only role has been to refer the Prospective Purchaser to the Seller. Prospective Purchaser agrees to indemnify, defend and hold Maverick harmless from all claims, damages, costs, etc. (including attorney’s fees) relating to any real property transaction between Seller and Prospective Purchaser. Furthermore, Prospective Purchaser agrees that Maverick has introduced them to a buying opportunity for real property only and not to a securities offering.
Seller's Additional Notes
NEW Hot Water Heater
Kansas City Highlights
Kansas City Properties:
- Fully-Renovated Single Family Homes and Duplexes
- Tenants and Local Property Management in Place at Closing
- $125,000 Starting Purchase Price
- 6.5% Average Cap Rates
Kansas City Market:
- Google Confirmed Plans for a $1 Billion Data Center
- Job Creation and Low Unemployment
- Population Growth and Low Cost of Living
- Increasing Rental Demand
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