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Updated over 5 years ago, 07/23/2019
Attn: Kansas City, MO Real Estate Agents - Help!
I'm looking for a real estate professional in the KC, MO area that knows the market. I need your advice. We have a duplex in the Waldo area. we bought it a few years ago, put $30k into it and added a bedroom (it's legit, egress windows with a ladder up). It has 3br 2.5 bath, 2 floors, partially finished basement on each side. rents are $1,000/ month and $1,200/ month. Fully leased for 1 year.
We're getting ready to sell it and the RE agent I talked to didn't know how to price it because there are no comps in the area. She said the last time a duplex sold in the area was ours. She talked to a colleague who said it's probably $200k. We bought it for $140k, put $30k into it. It's been assessed at $235k by Jackson County, Zillow (I know not a reliable source) says it's $258k.
We're getting cold calls all the time asking to buy the place, from what I hear Waldo is up and coming. I know inventory is low. But would a full remodel and add a room really only add $60k to the price?
Thank You!