Investing in Lyndhurst, OH ... Any advice?

Question

Hi there,

I am an investor from California. I have become interested investing in Cleveland Area. I spoke to a friend of mine who lives there and he suggested me Lyndhurst area as a safe Class B,A area to invest. My strategy is buy and hold for cash flow. Do you guys have any advice or recommendation for a better area to invest?

Thank you,

Vince Lucas · Answer

@Tom Ott and @Timothy Murphy III made good points. I think the high side rents are a little higher, maybe $1300-1400 ($1,200 probably average). Taxes in lyndhurst are higher than other cities and will cut into your cash flow. I think a decent ROI in lyndhurst is probably 8%, but there are others on here that know better. Feel free to reach out if you have any other questions.

Tom Ott · Answer

Lyndhurst is a great area to invest in. B class area edging on A. Rents can also be high there. Around $1,200.00 a month for a well remodeled SFR. The only thing is that it might be difficult to find a home that is low priced enough to get you a decent ROI. It is not that big of a city so it might be a waiting game. Some neighboring cities include,  Euclid, South Euclid and Cleveland Heights.

Good luck!

Vince Lucas · Answer

@Hamid Taba

Timothy Murphy III · Answer

@Hamid Taba

That area is at least a solid B caliber area, IMO. Tom's rental figures sound accurate to me. The hardest part of a Lyndhurst investment would be finding a property that you can acquire at a low enough price. You might need to settle for more modest returns in order to operate in such a stable area. Alternatively, you could look into South Euclid. It neighbors on Lyndhurst in shares a common school district, but you'll be able to get the properties a little bit cheaper.

Investing in Lyndhurst, OH ... Any advice?

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