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Updated over 9 years ago on . Most recent reply

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5
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Yael Shomron
  • Ramat Gan, Non U.S./Canada
3
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5
Posts

Cleveland ohio - Need help about a deal

Yael Shomron
  • Ramat Gan, Non U.S./Canada
Posted

I am about to sign my first deal .. It is via an real-estate investing company. 

Its a duplex in Cleveland Ohio, in East 68th st. 
I am paying $34000 for a renovated duplex, and the rent expected is $1075 for both units.
I was told not to expect any raise in house value, just rely on the rent. 

My question: if you know the are: 
How much is a renovated duplex worth in that neighborhood? 
(I am confused by different data from Zillow house sales data / verses this site: http://publicrecords.netronline.com/state/OH/ )

Is the rent realistic? 

Thanks!

Most Popular Reply

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28,308
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James Wise#5 All Forums Contributor
  • Real Estate Broker
  • Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
19,325
Votes |
28,308
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James Wise#5 All Forums Contributor
  • Real Estate Broker
  • Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
Replied

RUN AWAY.

Horrible neighborhood.

Your tenants will be evicted then this home will be stripped of all valuables and worth next to nothing.

Here are some comps from the E 68th & St Clair area.

  • 6526 Scheafer 44103 Duplex sold for $1 in 90 days
  • 1085 Addison 44103 Duplex sold for $3,000 in 90 days
  • 6206 Bonna 44103 SFR sold for $3,695 in 127 days
  • 6618 Schaefer 44103 Duplex sold for $12,000 in 116 days
  • 7126 Donald 44103 SFR sold for $14,000 in 92 days

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