Rental Property Analysis- Kansas City

[Chris Nordella]

I appreciate any advice. I'm looking at 3 homes currently. Here's the break down. All are tenant occupied with rents listed. All are turnkey sales. All are near Cerner's new campus. Note: all property tax & insurance was quoted from the company, not verified.

Property #1- $89,500

Down- $17,900

Closing Costs- $2700

Gross Rents- $11,400

Property Tax- $700

Insurance- $500

PM- $912

Maintenance & Vacancy- $912

Cash Flow- $313.90 after expenses

Cap- 9%

COC- 18%

Property #2-

Property #1- $75,000

Down- $15,000

Closing Costs- $2700

Gross Rents- $10,800

Property Tax- $944.16

Insurance- $600

PM- $864

Maintenance & Vacancy (8%)- $864

Cash Flow- $305.32 after expenses

Cap- 10%

COC- 21%

Property #3- $94,500

Down- $18,900

Closing Costs- $2700

Gross Rents- $11,940

Property Tax- $633

Insurance- $600

PM- $955

Maintenance & Vacancy- $955

Cash Flow- $327.15 after expenses

Cap- 9%

COC- 18%

I'm going to work on getting CC covered to increase COC return. In B+ neighborhoods supposedly. I've checked Crime and Schools and it looks really good.

Thoughts?