Reasonable cap rates for SFH in Euclid or Parma?

[Shiva Bhaskar]

Hello friends,

I'm newer to the CLE market (invest mainly here in LA, where I'm based), but I know some folks who are also out of state, who've had good experiences investing in SFH in the area, so I"m looking into it. Spoke with someone recently who mentioned Euclid or Parma as possible areas to look into - what sort of cap rate would be competitive for single family homes in these areas? I am told that Euclid is a good deal cheaper than Parma, but Parma may be more stable in terms of tenant turnover. Any feedback is appreciated.

[Federico Gutierrez]

$150,000 for a duplex that brings in $1400-1600/month. Thats todays numbers

Anything more that 2units in Parma is rare