Cleveland: anyone buying in 44105 or 44110, or other East zips?

Question

I know there's a big appetite for the Westside of Cleveland (e.g. Lakewood and others).  But is anyone investing on the Eastside? I know things vary street by street in Cleveland, but just wanted to find out if anyone sees opportunity in 44105, 44110, -03, -06, -08, -04 etc.  Thanks.

Gwen Fyfe · Answer

Yeah, I live in 44106. There are strong "path of progress" signs in my area - and I feel perfectly comfortable where I'm living - but I wouldn't generally recommend it to distance investors. It's so extremely block by block and even if you're comfortable with it, you still need to know that it might not work out. I'm here because it's a good place for me personally to live, I think it's going to appreciate, and because I have a personal belief in stabilizing these neighborhoods. Stabilizing, not totally gentrifying. There are good people who deserve good housing at affordable prices here. I'd be sad if my neighbors got pushed out of their homes because it turns into the next Lakewood or something. So opportunities? Yes. But there are definitely very profitable and safer investments in other parts of Cleveland.

It's definitely interesting in my area though. Lots of new development going in, and houses being flipped. (Someone flipped mine! Apparently there was either a puppy mill or dog fighting going on here 5 years ago.) Half the houses have the porches crumbling off the front and needed to be repainted 20 years ago, half of them have work ongoing or have already been flipped and are looking super cute and turning into stable rentals. You never know how it'll work out.

It's definitely interesting in my area though. Lots of new development going in, and houses being flipped. (Someone flipped mine! Apparently there was either a puppy mill or dog fighting going on here 5 years ago.) Half the houses have the porches crumbling off the front and needed to be repainted 20 years ago, half of them have work ongoing or have already been flipped and are looking super cute and turning into stable rentals. You never know how it'll work out.

Tom Ott · Answer

Neighborhoods still within the city of Cleveland can be risky on either side of the river. Some of the up and coming areas like North Collinwood, Glenville, University Circle, etc are worth looking into, but I would ask for a professional's help. Many of these areas can change street by street, not just by zip codes. This is why many OOS investors tend to stick to the suburbs like Euclid, South Euclid, Cleveland Heights, Shaker Heights, Bedford, or Maple Heights. Less risk but still great returns.

Tom Ott · Answer

Investors moving East is just a newer thing since the Westside has become overrun with developers. Land and properties on the Westside have increased so much that your ROI is limited. Many are looking East since the city is opening the flood gates for development over there. Places like University Circle have already seen this benefit. Other places like Glenville and Collinwood have seen a lot of progress, but it still depends on the street you buy on! It is still early, many don't want to be first to the party!

Michael Ohara · Answer

@Tom Ott right. I have only done deals in Lakewood, S Euclid, border of Shaker, Avon Lake, etc.  I have a small deal flow for the 44105 type of neighborhoods but seems everyone on BP wants west, or the suburbs — and I get it, I’m one of them.  I’m betting the ones who invest in the tougher neighborhoods haven’t even heard of BP. :)

Victor Vella · Answer

@Michael Ohara

Agree Westside has a consistent momentum however east side is slowly developing some great infrastructure

Jobs corridor by Cleveland clinic., bars and some great apartment living by case, and most desperately needed is the development of opportunity corridor

Where’s Johnh31 turning around whole streets 😁

Someone could make huuuuge money one by buying cheap.... but you gotta have deep pockets and a great team!!!

Or it may business as usual.

Michael Ohara · Answer

As an OOS investor, I wouldn't invest in those areas. I think you need to be on the ground to do so, however, I know some people who live in Cleveland and won't touch those zips. But like @Gwen Fyfe said, there are people investing in these neighborhoods.  Maybe they're just not on bigger pockets :)

Dan Sarao · Answer

If you want to be in cleveland then 44128 and certain areas of Mt. Pleasant (44120) might be a good place to look.  44128 is a solid area, although properties will cost you more than they would in F class neighborhoods, obviously.

James Wise · Answer

If you are going to invest in 44105 you are either going to be in the Cleveland part of that neighborhood which is an F class area or you are going to be in Newburgh Heights which is a C class area.

For background on what I mean when I say F or C class refer to The Ultimate Guide to Grading Cleveland Neighborhoods.

Michael Ohara · Answer

@Brian Garlington yes, generally. But I can’t believe the whole zip is bad. Maybe for some zips, but not the whole zip. I gotta believe there’s some opportunities in these areas and not write off the whole zip code.

Brian Garlington · Answer

Generally speaking.... isn’t 44110, 44108 and 44104....D or F zip codes?

I’ve tried to stay away from there.  I’m mostly in 44105 and 44111

Cleveland: anyone buying in 44105 or 44110, or other East zips?

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