4 Unit Building in KC, KS
1015 Quindaro Blvd, Kansas City, KS 66104, USA
Bedrooms: 8, Bathrooms: 4.0, Sqft: 3329, Lot Size: 11456, Year Built: 1890
Brought to you by:
Midwest Dev group
816-718-3340
info@midwestdevgroup.com
Notes
Amazing 4 unit building in KC KS. Zoned for 5 but ideal as a 4 unit. Huge cash-flow potential for the right investor.
Deal Summary
Initial Investment
Purchase Price | $85,000 | |
Purchase Costs | $0 | |
Rehab Costs | $146,500 | |
Rehab Contingency () | $0 | |
Construction Holding Costs | $174 | |
Total Project Costs | $231,674 | |
Financing | $0 | |
Cash out of Pocket | $231,674 |
Property Value
After Repair Value (ARV) | $360,000 | |
Annual Appreciation Rate | 2.50% | |
Value at Project End | $369,000 |
Project Timing
Construction Time | 4.0 Months | |
Rental During Rehab? | No | |
Income Starts in Month | 5 | |
Total Project Length | 2 Years |
Financial KPIs
Cash Flow (Year 1) | $35,198 | |
Cash-On-Cash Return (Year 1) | 15.19% | |
Internal Rate of Return (Project) | 96.99% |
Monthly Cash Flow (Starting Month 5)
Income
Gross Scheduled Rents | $4,600 | |
Scheduled Other Income | $100 | |
Vacancy Loss | ($235) | |
Effective Monthly Income | $4,465 |
Expenses
Property Taxes | ($44) | |
Property Management | ($0) | |
Utilities | ($0) | |
CapExUsing average monthly | ($0) | |
Total Expenses | ($44) |
Cash Flow
Effective Monthly Income | $4,465 | |
Expenses | ($44) | |
Loan PaymentDoes not include origination | ($0) | |
Monthly Cash Flow | $4,422 |
Cash-on-Cash Analysis (Year 1)
Income & Expenses
Income (8 Months)
Gross Scheduled Rents | $36,800 | |
Gross Other Income | $800 | |
Vacancy Loss | ($1,880) | |
Effective Total Income | $35,720 |
Expenses
Property Taxes | ($522) | |
Property Management | ($0) | |
Utilities | $0 | |
CapExUsing actual | $0 | |
Total Expenses | ($522) |
Cash-on-Cash Analysis
Cash Flow (Year 1)
Total Income | $35,720 | |
Expenses | ($522) | |
Mortgage Payment | $0 | |
Total Cash Flow | $35,198 |
Initial Investment
Purchase Price | $85,000 | |
Purchase Costs | $0 | |
Rehab Costs | $146,500 | |
Rehab Contingency (0%) | $0 | |
Construction Holding Costs | $174 | |
Total Cash Needed | $231,674 | |
Purchase Financing | $0 | |
Cash out of Pocket | $231,674 |
Cash-on-Cash Return
Year 1 Cash Flow / Cash out of Pocket
15.19%
Annual Performance
| Project Year | 1 | 2 |
|---|---|---|
| Gross Income | ||
| Scheduled Gross Rents | $36,800 | $18,768 |
| Scheduled Other Income | $800 | $400 |
| Total Sch. Gross Income | $37,600 | $19,168 |
| Vacancy Loss | ($1,880) | ($958) |
| Effective Gross Income | $35,720 | $18,210 |
| Operating Expenses | ||
| Property Taxes | ($522) | ($178) |
| Property Management | ($0) | ($0) |
| Utilities & Expenses | $0 | $0 |
| Total OpEx | ($522) | ($178) |
| Net Operating Income | $35,198 | $18,031 |
| Capital Expenditures | ||
| Replacements | $0 | $0 |
| Net Income After Expenses | $35,198 | $18,031 |
| Financing | ||
| Principal | $0 | $0 |
| Interest + Fees | $0 | $0 |
| Total Payment | $0 | $0 |
| Performance | ||
| Cash Flow | $35,198 | $18,031 |
| Property Value | $360,000 | $369,000 |
| Cap Rate | 9.78% | 4.89% |
| Gross Rent Multiplier (GRM) | 9.57 | 19.25 |
| Operating Expense Ratio (OER) | 1.46% | 0.98% |
| Debt Service Ratio (DSCR) | 0.00 | 0.00 |
| Outstanding Loans | $0 | $0 |
| Equity | $360,000 | $369,000 |
| Rolling Income After Expenses | $35,198 | $53,229 |
| Rolling Loan Interest & Fees | $0 | $0 |
| Acquisition & Disposition | ($85,000) | ($85,000) |
| Profit From Sale Includes sale profit and rolling income | $163,698 | $190,729 |
Comps
| Address | Dist | Beds | Baths | Sqft | Sold ($) | $/sqft | Sale date |
| 940 Cleveland Ave | 0.086 miles | 4 | 3.5 | 2784 | $267,900 | $96 | 2024-09-13 |
| 2532 N 73rd St | 6 miles | 3 | 2.0 | 1842 | $279,944 | $152 | 2024-10-24 |
| 2047 N 6th St | 0.78 miles | 5 | 3.0 | 3189 | $274,000 | $86 | 2023-04-21 |
| Average: | $273,948 | $111 | |||||
CMA Summary
By Average of Sales
Adjusted Comps
Avg of Adjusted Sales ARV | $273,948 | |
Subject Sqft | 3,329 | |
Adjusted $/sqft | $82 |
Unadjusted Comps
Avg of Sales ARV | $273,948 | |
Subject Sqft | 3,329 | |
Avg of Sales $/sqft | $82 |
By Average of $/Sqft
Adjusted Comps
Avg of Adjusted $/sqft | $111 | |
Subject Sqft | 3,329 | |
Calculated Adj. ARV | $370,629 |
Unadjusted Comps
Avg of Unadjusted $/sqft | $111 | |
Subject Sqft | 3,329 | |
Calculated ARV | $370,629 |
CMA Detail
| Basics | Subject | Comparable | Comparable | Comparable | ||||
| Image Not Available | Image Not Available |  | |||||
| Address | 1015 Quindaro Blvd, Kansas City, KS 66104, USA | 940 Cleveland Ave, Kansas City, KS 66101, USA | 2532 N 73 St, Kansas City, KS 66109, USA | 2047 N 6th St, Kansas City, KS 66101, USA | ||||
| Sold Date | 2022-11-14 | 2024-09-13 | 2024-10-24 | 2023-04-21 | ||||
| Sold $ | $5,000 | $267,900 | $279,944 | $274,000 | ||||
| Sqft | 3,329 | 2,784 | 1,842 | 3,189 | ||||
| $/sqft | $2 | $96 | $152 | $86 | ||||
| Features | Feature Values | Units | Units | Adjustment | Units | Adjustment | Units | Adjustment |
Bedrooms | $0 | 8.00 | 4.00 | $0 | 3.00 | $0 | 5.00 | $0 |
Bathrooms | $0 | 4.00 | 3.50 | $0 | 2.00 | $0 | 3.00 | $0 |
Garage spaces | $0 | 0.00 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 |
Carport spaces | $0 | 0.00 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 |
Lot size sqft | $0 | 11,456.00 | 6,795.00 | $0 | 8,364.00 | $0 | 7,231.00 | $0 |
Basement sqft | $0 | 713.00 | 916.00 | $0 | 1,842.00 | $0 | 1,184.00 | $0 |
Has pool | $0 | 0.00 | 0.00 | $0 | 0.00 | $0 | 0.00 | $0 |
Has view | $0 | 0.00 | 1.00 | $0 | 1.00 | $0 | 1.00 | $0 |
| Adjustment Subtotals | $0 | $0 | $0 | |||||
| Adjusted $/sqft | $82 | $96 | $152 | $86 | ||||
| Adjusted ARV $ | $273,948 | $267,900 | $279,944 | $274,000 | ||||
| Notes | Excellent opportunity to flip. | |||||||
Property Photos