All Forum Posts by: Frank Barletta

I'm just reviewing the data but I appreciate your passion for the topic.

@Bob Stevens - Thank you for taking the time to reply.

The same can be said about many markets, so I want to ensure we see the same thing.

If you look at the increase in rental prices, the lack of supply, and the increase in building permits, you could say there is an opportunity here. Of course, at the same time, I can make a more informed decision on if this market is one to consider.

Thank you @Michael Hayes.

My goal was to share some of my research with a sample of data to showcase the need for units. That one property was an example, and I wouldn't ever regard a 750 sqf unit as a 3-bedroom (unless we're talking about NYC).

 Thank you, Jonathan. Great feedback!

I started spending a lot of time researching new rental markets for myself and recently came across Parma, OH. In this post, I'll share some insights based on my findings and some data to showcase why this market is a great opportunity. Feedback is wanted and greatly appreciated!

About This Market: Parma, Ohio, boasts a stable population driven by affordable housing prices relative to national averages. The local economy is supported by several diverse sectors, including healthcare, manufacturing, and retail, which sustain employment levels and underpin rental demand. Additionally, Parma's proximity to Cleveland enhances its appeal, offering easy access to urban amenities and employment opportunities without the higher living costs associated with larger cities. This combination of affordability, economic stability, and location makes Parma compelling in my research.

Taking a deeper dive into the rental market here, I thought this could be a unique investment opportunity because, despite a seemingly low occupancy rate of 23.90%, the rising rental rates highlight a robust demand for single-family homes (SFH), presenting a lucrative avenue for investors like us.

The Key Growth Indicator: A significant uptick in SFH building permits during 2022 and 2023 screams a burgeoning market ripe for investment.

Property Highlight: Zooming into the zipcode 44134, let's examine a promising investment with this single-family home.

3104 Liggett Dr, Parma, OH 44134

On this property, I calculate an ARV estimated between $107,000 and $115,000.

If you make a strategic offer of $70,000, complemented by a rough $30,000 renovation investment, you position this property as a prime rental candidate and can command rents between $1,100 and $1,200 monthly.
This scenario forecasts a potential 9.85% cash-on-cash return for an all-cash investment.

Additionally, with a more extensive renovation, the property's resale value could surge above $200,000.

This is just one example, but the above data showcases its potential as an excellent market for single-family home investments. As I've peeled back the layers through data-driven insights on more homes, the opportunities for substantial returns are clear. Happy to share more at some point!

Thanks for reading - I would love to get feedback on this. Please and thank you!

Thank you @Joshua Janus
I really appreciate it.

I started spending a lot of time researching new rental markets for myself and recently came across Parma, OH. In this post I'll share some insights based on my findings and some data to showcase why this market is a great opportunity.

About This Market: Parma, Ohio boasts a stable population driven by affordable housing prices relative to national averages. The local economy is supported by several diverse sectors including healthcare, manufacturing, and retail, which sustains employment levels and underpins rental demand. Additionally, Parma's proximity to Cleveland enhances its appeal, offering easy access to urban amenities and employment opportunities without the higher living costs associated with larger cities. This combination of affordability, economic stability, and location makes Parma compelling in my research.

Taking a deeper dive into the rental market here, I thought this could be a unique investment opportunity because despite a seemingly low occupancy rate of 23.90%, the rising rental rates highlight a robust demand for single-family homes (SFH), presenting a lucrative avenue for investors like us.

The Key Growth Indicator: A significant uptick in SFH building permits during 2022 and 2023 screams a burgeoning market ripe for investment.

Property Highlight: Zooming into the zipcode of 44134, let's take a look at a promising investment in a SFH I found.

3104 Liggett Dr, Parma, OH 44134  

On this property, I calculate an ARV estimated between $107,000 and $115,000. 

If you make a strategic offer of $70,000, complemented rough $30,000 renovation investment, you position this property as a prime rental candidate and can command rents between $1,100 and $1,200 monthly. 
This scenario forecasts a potential 9.85% cash-on-cash return for an all-cash investment.

Additionally, with a more extensive renovation, the property's resale value could surge above $200,000.

This is just one example but the above data showcases its potential as an excellent market for single-family home investments. As I've peeled back the layers through data-driven insights on more homes, the opportunities for substantial returns are clear.

Thanks for reading - Follow me for more posts like this or join my newsletter for deeper dives all across the US.

Thank you for connecting, Kristi. Why do you think this is? 

Who does this serve? Why doesn't google or angies list, etc solve this in your opinion?

I'm working on building a calculator on Google Sheets and wanted to get some opinions on it. All feedback, good and bad is appreciated.

It is a work in progress, so don't beat it up too much!

https://docs.google.com/spreadsheets/d/1U5BpMocomNo3xqP8NGvO...