Wichita Real Estate Blog

What’s in an income property?

Our home at 333 North Vassar in College Hill is almost ready to be placed on the market. We’ve updated the home’s kitchen, freshened up the walls with contemporary color and finished the basement below. We’ve also added something new to the home – a studio apartment.
Are you looking for supplemental income? With this home you have the option if you outright buy. We made the apartment in the home look like a refurbished industrial loft – similar to the ones sought after in Downtown Wichita – where the old school buildings have been converted to reveal a slick, cool, renovated apartment.
The location of College Hill makes it perfect for tenants that study at Wichita State University and are Residents, traveling nurses or PA students at Wesley Hospital across the street. The possibilities are endless in this area.
But you may be asking yourself, what are the benefits of an income property?
Firstly, an income property is exactly what you think it is – income. This extra income can help pay off your own mortgage on your home, paying your debts more quickly. It also saves you during tax season because you are entitled to deductibles. There’s three benefits right there.
If you’d like to purchase this home and need some advice on how to make the basement extra money in your pocket, make sure to do your research. We’re also here to give you a few tips.

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