Rental investment opportunities in Overland Park

[Imtiaz Koujalgi]

Hi, 

I am new to the Overland Park market, but it looked interesting since the price points looked competitive vs. other markets in the country. I am interested in buying properties and then renting them out, preferably 2 bed 2 bath condo type units, and wanted help from the community on a few questions I had:

1) Is there enough rental demand? I see that in Overland Park almost 70% of the houses are occupied by owners, so does that make renting a condo a bit hard?

2) What would the average rent for a 2 bed / 2 bath be? I am thinking of a unit like this below, so any data points on market rent would be helpful:

https://www.realtor.com/reales...

Thanks.

[Garett Weber]

@Imtiaz Koujalgi 

I may not be able to answer your Q's directly---But there is plenty of rental demand in OP/Prairie Village for higher end single family homes. I'm not sure if that translates 100% to condos as rents in this area are higher relative to the majority of KC. Many tenants paying OP rent rates are looking for their own upscale private home, backyard, more sq footage, etc. 

Overall though, OP is a very desirable area of KC for both homeowners, investors, and tenants-- so I doubt you will run into issues with vacancy even in a condo. Any particular reason you are targeting condos as opposed to single family homes?