All Forum Posts by: Scott Seel

Check out pics of my newest listing — a 3-bedroom, brick ranch home.

This adorable ranch is perfectly situated in a centrally-located neighborhood in Manhattan, KS. This 3 bed/1 bath property features tons of natural light, hardwood floors, and a second living area.

📍 321 Ridge Drive in Manhattan, KS.

📲 This home will sell fast, so if you'd like to see it please reach out! 785-580-9485.

#MHK #ManhattanKS #homesforsale #RanchHome

I have EIGHT available listings right now and several are great investment properties.

Here are the details:

🏡 5805 Pheasant Ridge Road, Manhattan, KS, 66502. 4 Beds, 2 Baths, 2,950 Sq Ft. $460,000 (STUNNING HOME BY THE LAKE)

💰🏡 812 Colorado Street, Manhattan, KS. 2 Beds, 1 Bath. 1,350 Sq Ft $169,900 (NEAR KANSAS STATE UNIVERSITY)

💰🏡 509 Pierre, Manhattan, KS, 66502. $155,000 (NEAR downtown Manhattan)

💰🏡 508 Bluemont Avenue, Manhattan, KS, 66502. $265,000 (rented through Summer 2023!)

🏡 713 Tuttle Street, Manhattan, KS, 66502. 3 Beds, 1 Bath. $122,500

📍 2020 Browning Avenue, Manhattan, KS, 66502. $99,000 (plot of land)

🏡 3080 Reservation Drive, Manhattan, KS, 66502. 3 Beds, 1 Bath. $79,500

📍 00 Grant Avenue, St. George, KS, 66547. $10.000 (plot of land)

See something you like or just want to talk shop about real estate in the Manhattan, Kansas, or KSTATE area?

Reach out for more details!

Scott Seel, realtor with Alliance Realty

I have EIGHT available listings right now and several are great investment properties.

Here are the details:

🏡 5805 Pheasant Ridge Road, Manhattan, KS, 66502. 4 Beds, 2 Baths, 2,950 Sq Ft. $460,000 (STUNNING HOME BY THE LAKE)

💰🏡 812 Colorado Street, Manhattan, KS. 2 Beds, 1 Bath. 1,350 Sq Ft $169,900 (NEAR KANSAS STATE UNIVERSITY)

💰🏡 509 Pierre, Manhattan, KS, 66502. $155,000 (NEAR downtown Manhattan)

💰🏡 508 Bluemont Avenue, Manhattan, KS, 66502. $265,000 (rented through Summer 2023!) 

🏡 713 Tuttle Street, Manhattan, KS, 66502. 3 Beds, 1 Bath. $122,500 

📍 2020 Browning Avenue, Manhattan, KS, 66502. $99,000 (plot of land)

🏡 3080 Reservation Drive, Manhattan, KS, 66502. 3 Beds, 1 Bath. $79,500

📍 00 Grant Avenue, St. George, KS, 66547. $10.000 (plot of land)

See something you like or just want to talk shop about real estate in the Manhattan, Kansas, or KSTATE area? 

Reach out for more details!

Scott Seel, realtor with Alliance Realty

Hi Robert,

Sorry, just seeing this. I've had several folks ask this same question about real estate investing in Manhattan so I actually wrote up a report on how to obtain the most favorable cap rates in our area.Basically, your hunch to purchase bigger homes near KSU is spot on. 

When I wrote the report (March 2022) there were about 170 single-home or townhome properties listed for rent on Zillow in Manhattan. The average monthly rental price of these properties was $1,312. The most expensive rental option was a 7 bedroom home for $2,395, and on the other end of the spectrum was a 1 bed home for $475.

The market showed that 5 bedrooms near KSU can rent around $1,500 to $2,000 a month. If you can find a 5 bedroom home in the $180,000 to $200,000 range you could get near a 5% cap rate, even with an 8%+ vacancy rate and operating expenses near 50%. Here’s a real-world example. A 5-bed home at 931 Vattier is near KSU and Aggieville and was listed at $184,900. Based on the data we have it looks like it would be possible to achieve a 4.46% cap rate on this home

Another option would be to purchase a home in a lower-income tract to take advantage of the lower mortgage rate, no down payment required, and no PMI.

And of course if you are handy, consider purchasing a fixer-upper home at a lower cost and managing the property yourself. Management companies typically earn about 10% of your monthly rental income so shouldering the management and maintenance will increase your profit margins.

Let me know if you want to chat further or start looking for good opportunities.

There are 50+ properties in Manhattan and surrounding areas that will be up for bankruptcy liquidation auction in June. There is a mix of single-family homes and multi-unit buildings available. Several properties are near Kansas State University. All of these properties are being held open at various times on June 1 and 2. I will provide the list of properties to anyone who is interested. Just give me a quick call at 785-580-948.

The properties are only open at specific times, so if you have some in particular that you have interest in, please let me know and I'll get you times.

If you have any interest please reach out ASAP!

Scott Seel, Realtor with Alliance Realty. 785-580-948

There are 50+ properties in Manhattan and surrounding areas that will be up for bankruptcy liquidation auction in June. There is a mix of single-family homes and multi-unit buildings available. Several properties are near Kansas State University. All of these properties are being held open at various times on June 1 and 2. I will provide the list of properties to anyone who is interested. Just give me a quick call at 785-580-948.

The properties are only open at specific times, so if you have some in particular that you have interest in, please let me know and I'll get you times.

If you have any interest please reach out ASAP!

Scott Seel, Realtor with Alliance Realty. 785-580-948

There are 50+ properties in Manhattan and surrounding areas that will be up for bankruptcy liquidation auction in June. There is a mix of single-family homes and multi-unit buildings available. Several properties are near Kansas State University. All of these properties are being held open at various times on June 1 and 2. I will provide the list of properties to anyone who is interested. Just give me a quick call at 785-580-948.

The properties are only open at specific times, so if you have some in particular that you have interest in, please let me know and I'll get you times.

If you have any interest please reach out ASAP!

Scott Seel, Realtor with Alliance Realty. 785-580-948

 I'm a Realtor in Manhattan KS. We're starting to see it more and more. Certainly not something I see every day, but I'm starting to have more and more folks asking me about it and the people I know that are doing it have been very successful.

Hey guys,

I'm a Realtor/investor in Manhattan and would love to sit down and chat over coffee or food with anyone interested in discussing Real Estate in the area. I specialize in investment properties but work across all sectors of the real estate market.