Much better than average location3.

How does anyone expect people in a place with an average income of 25K a year to pay an average of $1400/mo rent? 

Examples:44109 (median home price went from roughly 50k to 125k in 8 years)https://www.zillow.com/home-values/77009/cleveland-oh-44109/ 44102 (median home price went from roughly 30k to 120k in 8 years)https://www.zillow.com/home-values/77002/cleveland-oh-44102/ 44106 (median home price went from roughly 100k to 200k in 8 years)https://www.zillow.com/home-values/77006/cleveland-oh-44106/ It has the highest rents on average in all of Ohio for major cities and the median income is not even in the top 3.

Here’s a chart showing what percentage of an American’s average mortgage payment goes to taxes and insurance:Rising taxes and insurance premiums make real estate even less affordable for buyers already facing higher home prices and mortgage rates that rose ~150% in less than two years.

A zip code average of an area does not represent an individual property’s characteristics.

Here’s a bit more information about why these could be such powerful tools for you:Financial Support: The average benefit for buyers who qualify for down payment assistance is $17,000.

Seller financing: Note for $1,350,000.00  - 7% amortized over 30 years with balloon payment after 7 years, interest only. ( I am trying to get the first year at 6% to stabilize then go to 7% remaining 6 years)Property Condition: Above average.

3) Average income was up 4.5% in 2024.

What is the average acquisition cost of the houses?

20% is about average for a short term rental as far as management fees go.