Cleveland Duplexes in Neighborhoods with Foreclosures

[Steven Murphy]

Hi everyone, I'm looking into Cleveland for some duplexes or triplexes. The main two neighborhoods I'm looking at is Euclid and the triangle neighborhood formed between Cleveland Heights, University Heights and Coventry Village. The cash flows seem strong and they seem to have price-rent ratios in the 1.5-2.2 range. The thing is, is that there seems to be a ton of foreclosures in this Cleveland heights/university heights-ish area. Can anyone shed some light on this? the neighborhood seems like B or maybe A-, very nice area, so not sure why this is. Is that a big red flag to avoid? I havent read any books or articles on this situation. 

Thanks