Cleveland multi family investing in good neighborhoods

[Norense Iyahen]

I’m looking to purchase a rental property, and have started looking in Cleveland.

I’ve seen quite a few duplexes selling for less than $100k, and claiming that if rented could bring in  over $1,300 . Is this the reality ? As an Out of state investor, I’d rather invest in B grade ( possibly c+) neighborhoods...or at least a pretty safe/ stable area  . Is it possible to do this in Cleveland with the numbers above ?

[Michael Dodd]

@Norense Iyahen $650 per unit and a $100,000 duplex? If that’s what they’re stating then you’ll definitely be in some rougher areas. Those deals are out their but they’d be in C- or D neighborhoods.

Any duplex in a decent neighborhood below $140,000 is most likely going to need some work.

you can see rents in those areas from $700 -$1,000 for 1BR/1BA, and $850-1250 for 2BR/1BA.

Also if you’re out of town remember that the houses/ duplexes in Cleveland are usually 100+ years old. Don’t let this deter you, just something to think about when doing due diligence on a property.

A lot of good cash flowing priories available in good areas, especially if you don’t mind taking on some rehab.