64128 Has the #8 Highest Vacant Home Percentage in the Country
The 64128 zip code east of Troost holds Oak Park Northwest, Palestine East, Santé Fe neighborhoods. In Kansas City, like the rest of the country, crime tends to concentrate in these areas of high vacancy. Due to the mortgage crisis, researchers have been able to determine that the very nature of houses being vacant and boarded up increases the rate of crime in the area… it nearly doubles the chance of arson.
934 vacant homes (18.9%) are in this zip code alone. The Greenline Initiative’s mission is to increase black generational wealth through real property ownership and investment. Though the benefits of our process do no stop at helping an individual family. The fact that our process focuses on renovating vacant and abandoned homes allows The Greenline Initiative’s process to act as a force multiplier in creating real and positive change in Kansas City that extends outside of a single home or family.
When our team completes the renovation of a vacant home, it immediately impacts the area.
· Homes within 500 feet of the renovated home have a 1% increase in their value
· Homes between 501 – 1,000 feet see an increase of .5% in their value
· There is a crime reduction of .02%
· Decrease in the likelihood of arson
· Has a reduction in the need for policing & fire fighting
· Has another property tax paying homeowner
The Renovation Funder (This can be you!)
· Has a solid return on their funding allotment
· Can take pride in how they are directly changing the city for the better
The Family (This can be you too!)
· Has an opportunity to leverage an asset in a manner that can create generational wealth
· There are many positive, familial benefits that come from home ownership outside of wealth that can now be obtained
All told there is $133,000 cost to the area for each vacant home associated with it. We are a social enterprise with an eye on the family, but are not blind to how we impact the city. If you are conscious of how you invest your money please sign up to ournewsletter. If you just want to make a profit in real estate please sign up for ournewsletter. Profit and social responsibility are not mutually exclusive.