Selling an Investment Property From Out of State — Kansas City, KS

How We Sold 844 Washington Boulevard — The Full Story

Our sellers were Colorado-based real estate brokers who owned this Kansas City fourplex from out of state and wanted to consolidate their portfolio closer to home. They’d already tried to sell it once with another agent and watched it sit on the market, and our Google review count is what brought them to Nelson Home Group when they decided to take another swing at it.

The Strategy

This one came down to pricing — and being willing to tell our clients what they needed to hear instead of what they wanted to hear. The previous agent had it listed at the number the sellers needed to recoup their original investment, but the Kansas City rental market simply didn’t support that price, so we walked them through real comps and real cap-rate math until the picture was clear. As fellow brokers, they got it immediately: the market sets the price, not the agent, and our job was to market it hard and deliver the strongest buyer pool at a number that would actually trade.

The Success

Once we priced it where the Kansas City investor market actually was, we had it under contract in 30 days and closed at $300,000 — 40 days on market start to finish. Our sellers freed up their capital to redeploy in Colorado, and the loss on paper translated into a tax write-off that softened the hit. That’s the Nelson Home Group difference: we’d rather have the hard conversation up front than let a listing rot for six months at the wrong price.

About This Property

844 Washington Boulevard, Kansas City, KS 66101 is a fully renovated brick fourplex in Wyandotte County, sitting on a 6,142 sq ft lot in the Wyandotte City neighborhood near downtown KCK. A 2022 capital overhaul rebuilt it from the studs up: new architectural shingle roof, individual mini-split HVAC in every unit, new water heaters, upgraded electrical panels, stainless appliances, luxury vinyl plank flooring, white shaker cabinetry, subway tile backsplashes, black countertops, and tiled bathrooms. Each of the four 1-bed, 1-bath units is separately metered for electric, gas, and water, so tenants cover their own utilities — the owner’s only exposure is a basement gas line averaging around $85 a month. Washer/dryer hookups were added in 2023, one unit carries a Housing Choice Voucher with direct payments from the housing authority, and zoned schools include Douglass Elementary, Carl B. Bruce Middle, and Wyandotte High in the Kansas City KS district. With professional management already in place and $36,229 gross against $14,049 in operating expenses, it’s a turnkey cash-flow asset rather than a project.

Frequently Asked Questions

How fast are fourplexes selling in Kansas City KS right now?

Well-priced, fully renovated multifamily in Wyandotte County is trading in roughly 30 to 60 days when the numbers actually work for investors — this property closed in 40. Overpriced rentals sit for months because investor buyers run hard cap-rate math and won’t chase a number that doesn’t pencil. At Nelson Home Group, we price multifamily off real cash flow and real comps, not what the seller wishes the property was worth.

What’s a fair price for a renovated fourplex near downtown Kansas City KS?

It depends on gross income, operating expenses, and condition, but recent Wyandotte County comps for fully renovated, fully occupied fourplexes have been landing in the high $200s to low $300s. 844 Washington Boulevard sold at $300,000 against $36,229 gross and roughly $14,000 in op ex, which is a fair market trade for both sides. Nelson Home Group works backward from the income and the comps to give sellers an honest range before we ever go live.

Can Nelson Home Group sell my Kansas City rental if I live out of state?

Yes — that’s a big chunk of what we do. Out-of-state owners need a local agent who actually knows the Kansas City multifamily market, can coordinate showings around tenants, and will tell you the truth about pricing instead of telling you what you want to hear to win the listing. We’re the highest-rated real estate team on Google in the KC Metro for a reason, and we’ve sold for owners all over the country.