Minimum Rent for SFR in Kansas City

[Trent Kruessel]

Considering the average rental period of a tenant, the cost of periodic repairs, and the cost of turnover, what minimum rent do investors shoot for with single family houses in the Kansas City area (Missouri and Kansas sides)?  I've heard anywhere from $700 to $1000.  I'm curious to hear the rationale behind the answers.

[Logan Freeman]

Trent, it COMPLETELY depends upon a number of factors. In my experience, location is one of the biggest drivers. Finishes in the home mean a lot to - has it been updated? Also, we manage over 400 doors here in the KC Metro and having a garage and a basement are crucial for us placing tenants fast and at the top of the market. At a minimum, I would shoot for $1 per sq ft (finished space) for rent. Hope this helps - if I can help in any way, let me know.