My partner and I have raised $25K in total capital for a down payment and are looking for an income-producing multifamily unit (duplex/triplex). We’d like to put 20-25% down, which means we are targeting properties in the $100K-$125K range. Our goal is to find a property in a stable, tenant-friendly market with minimal renovations needed, preferably one that already has tenants in place.
We are aiming for a cap rate of 8-10% and want to invest in an area where tenants are reliable, and the neighborhood is safe. We have been researching Binghamton, NY, but we have been noticing that it has an older tenant base and isn't experiencing much growth.
Does anyone have recommendations for markets that fit these criteria? Ideally, we're looking for:
-Affordable multifamily units (~$100K-$125K)
- Decent cap rates (8-10%)
- Stable rental demand with reliable tenants
- A safe neighborhood
- Limited renovations required
Any insights on secondary or tertiary markets that have these qualities? Would love to hear from anyone with experience investing in similar deals. Thanks in advance for your advice!
My partner and I have raised $25K in total capital for a down payment and are looking for an income-producing multifamily unit (duplex/triplex). We’d like to put 20-25% down, which means we are targeting properties in the $100K-$125K range. Our goal is to find a property in a stable, tenant-friendly market with minimal renovations needed, preferably one that already has tenants in place.
We are aiming for a cap rate of 8-10% and want to invest in an area where tenants are reliable, and the neighborhood is safe. We have been researching Binghamton, NY, but we have been noticing that it has an older tenant base and isn't experiencing much growth.
Does anyone have recommendations for markets that fit these criteria? Ideally, we're looking for:
-Affordable multifamily units (~$100K-$125K)
- Decent cap rates (8-10%)
- Stable rental demand with reliable tenants
- A safe neighborhood
- Limited renovations required
Any insights on secondary or tertiary markets that have these qualities? Would love to hear from anyone with experience investing in similar deals. Thanks in advance for your advice!
Hey Dominic, Welcome to BP! I would suggest looking into parts of Ohio such as Dayton, Toledo, and Cleveland for affordability and cash flow.Once you choose the market I would start building your CORE 4 which consists of a great realtor, contractor, property manager, and attorney
@Dominic Petoral Dominic, with your budget and criteria, I’d recommend looking into parts of Columbus, OH. You can still find duplexes/triplexes in that price range in areas with strong rental demand, and cap rates can be solid depending on the neighborhood. The city has a growing job market, a steady tenant base, and landlord-friendly laws. Another option could be certain areas in the Midwest, like Indianapolis or Cleveland, where similar deals exist. Let me know if you’d like insights on specific areas—I’d be happy to connect!
@Dominic Petoral Dominic, with your budget and criteria, I’d recommend looking into parts of Columbus, OH. You can still find duplexes/triplexes in that price range in areas with strong rental demand, and cap rates can be solid depending on the neighborhood. The city has a growing job market, a steady tenant base, and landlord-friendly laws. Another option could be certain areas in the Midwest, like Indianapolis or Cleveland, where similar deals exist. Let me know if you’d like insights on specific areas—I’d be happy to connect!
where can you find duplexes for 50k a unit? or 60k a unit? impossible within 20 miles of columbus. post these amazing deals and where you can get them! they don't exist
Hey Robert, I get where you’re coming from! Prices have definitely gone up in Columbus, but there are still some pockets where you can find duplexes in that range—though they usually need some work. It’s getting tougher, but nearby markets like Toledo or Dayton still have options closer to those numbers. If you’re open to value-add properties or creative financing, there are still deals to be found. Always happy to chat more about it!
@Dominic Petoral Dominic, with your budget and criteria, I’d recommend looking into parts of Columbus, OH. You can still find duplexes/triplexes in that price range in areas with strong rental demand, and cap rates can be solid depending on the neighborhood. The city has a growing job market, a steady tenant base, and landlord-friendly laws. Another option could be certain areas in the Midwest, like Indianapolis or Cleveland, where similar deals exist. Let me know if you’d like insights on specific areas—I’d be happy to connect!
It has the highest rents on average in all of Ohio for major cities and the median home value is not even in the top 3. That creates a really nice price / rent ratio which is favorable for investors looking for cash flow. The median home price is also very low nationwide which creates a low barrier to entry. You can get solid cash-flowing single families in the 90-120k price range and duplexes in the 130-180k price range. There are cheaper one’s in D/F areas but I would be careful as those can create a laundry list of additional issues. In 2022 the rents increased 12.1% year over year which was the 3rd highest in the entire country per https://www.axios.com/local/cleveland/2023/02/14/cleveland-rent-prices.
Here are pockets I focus on for cash flow: West side - West boulevard, Cudell, Clark-Fulton, Jefferson, Bellaire-Puritas, Old Brooklyn East side - Fairfax, Buckeye-Shaker (the north side), Waterloo Arts District, Garfield Heights, Maple Heights, Newburgh Heights, Lee-Miles (the north side), Bedford
Here are the areas that I focus on for appreciation: West side - Lakewood, Edgewater, Old Brooklyn, Ohio City, Tremont (above 490) East side - Buckeye-Shaker (the north side), Waterloo Arts District, Fairfax *I have a graded neighborhood map of these areas as well if you would like to check it out.
My partner and I have raised $25K in total capital for a down payment and are looking for an income-producing multifamily unit (duplex/triplex). We’d like to put 20-25% down, which means we are targeting properties in the $100K-$125K range. Our goal is to find a property in a stable, tenant-friendly market with minimal renovations needed, preferably one that already has tenants in place.
We are aiming for a cap rate of 8-10% and want to invest in an area where tenants are reliable, and the neighborhood is safe. We have been researching Binghamton, NY, but we have been noticing that it has an older tenant base and isn't experiencing much growth.
Does anyone have recommendations for markets that fit these criteria? Ideally, we're looking for:
-Affordable multifamily units (~$100K-$125K)
- Decent cap rates (8-10%)
- Stable rental demand with reliable tenants
- A safe neighborhood
- Limited renovations required
Any insights on secondary or tertiary markets that have these qualities? Would love to hear from anyone with experience investing in similar deals. Thanks in advance for your advice!
Hey Dominic!
I would suggest Toledo, OH. It's an affordable market where property values are continuing to increase. You can find some duplexes in B-/C neighborhoods for 80-175k
My partner and I have raised $25K in total capital for a down payment and are looking for an income-producing multifamily unit (duplex/triplex). We’d like to put 20-25% down, which means we are targeting properties in the $100K-$125K range. Our goal is to find a property in a stable, tenant-friendly market with minimal renovations needed, preferably one that already has tenants in place.
We are aiming for a cap rate of 8-10% and want to invest in an area where tenants are reliable, and the neighborhood is safe. We have been researching Binghamton, NY, but we have been noticing that it has an older tenant base and isn't experiencing much growth.
Does anyone have recommendations for markets that fit these criteria? Ideally, we're looking for:
-Affordable multifamily units (~$100K-$125K)
- Decent cap rates (8-10%)
- Stable rental demand with reliable tenants
- A safe neighborhood
- Limited renovations required
Any insights on secondary or tertiary markets that have these qualities? Would love to hear from anyone with experience investing in similar deals. Thanks in advance for your advice!
Hey Dominic, Welcome to BP! I would suggest looking into parts of Ohio such as Dayton, Toledo, and Cleveland for affordability and cash flow.Once you choose the market I would start building your CORE 4 which consists of a great realtor, contractor, property manager, and attorney
Hey Dominic, with your criteria, I'd look into a city like Cleveland.
Cleveland currently has one of the lowest price/rent ratios in the Nation, with the average home price being $107k and the average rent being $1,416/Mo.
I like the west side of Cleveland. Look into neighborhoods like Jefferson, West Boulevard, Cudell, Clark Fulton, Brooklyn Center, Old Brooklyn, and Garfield Heights.
When investing in high cash-flow markets, I always recommend working with an investor friendly agent so you're able to gain the right insight into the different areas and the risks involved.
My partner and I have raised $25K in total capital for a down payment and are looking for an income-producing multifamily unit (duplex/triplex). We’d like to put 20-25% down, which means we are targeting properties in the $100K-$125K range. Our goal is to find a property in a stable, tenant-friendly market with minimal renovations needed, preferably one that already has tenants in place.
We are aiming for a cap rate of 8-10% and want to invest in an area where tenants are reliable, and the neighborhood is safe. We have been researching Binghamton, NY, but we have been noticing that it has an older tenant base and isn't experiencing much growth.
Does anyone have recommendations for markets that fit these criteria? Ideally, we're looking for:
-Affordable multifamily units (~$100K-$125K)
- Decent cap rates (8-10%)
- Stable rental demand with reliable tenants
- A safe neighborhood
- Limited renovations required
Any insights on secondary or tertiary markets that have these qualities? Would love to hear from anyone with experience investing in similar deals. Thanks in advance for your advice!
Definitely Cleveland Ohio! That will meet your price point and your cap rates
My partner and I have raised $25K in total capital for a down payment and are looking for an income-producing multifamily unit (duplex/triplex). We’d like to put 20-25% down, which means we are targeting properties in the $100K-$125K range. Our goal is to find a property in a stable, tenant-friendly market with minimal renovations needed, preferably one that already has tenants in place.
We are aiming for a cap rate of 8-10% and want to invest in an area where tenants are reliable, and the neighborhood is safe. We have been researching Binghamton, NY, but we have been noticing that it has an older tenant base and isn't experiencing much growth.
Does anyone have recommendations for markets that fit these criteria? Ideally, we're looking for:
-Affordable multifamily units (~$100K-$125K)
- Decent cap rates (8-10%)
- Stable rental demand with reliable tenants
- A safe neighborhood
- Limited renovations required
Any insights on secondary or tertiary markets that have these qualities? Would love to hear from anyone with experience investing in similar deals. Thanks in advance for your advice!
Hey Dominic, while I can't speak for every market specifically, but I don't think you will be able to find all of those qualities with only 125k purchase price. You will be sacrificing quite a few of the qualities you are looking for to get that number. This is what I recommend doing
Find what is most important to you. If investing RIGHT NOW and getting a property for 125k or hitting a certain return/cap is most important, by all means, do it! But if you value any of the other things more than numbers, then I would get some more capital first. Plus, those numbers are all on paper, getting something at 125k that has great numbers on paper, doesn't mean you will get it in practice
