Cleveland Heights - Yay or nay 1st property

[David Williams]

Seattle investor looking to land my first out of state rental property in Cleveland. I came across a duplex that just hit the market in Cleveland heights on Altamont St.

Here is the breakdown:

Multi-Family Duplex

Unit down will rent for $925-$950/month

Unit UP will rent for $1,100-$1,150/month

Taxes: $4,337

CAP Rate: 13 1/2

CAP Rate w/ 8% Prop Management: 12 1/2

For those familiar with the area is this a good location in Cleveland Heights? Also does this seem like a good first investment property to get my feet wet I’m the Cleveland market? The property is turn key everything is pretty much new. Any insights or guidance would be greatly appreciated.