Do you have any insight/advice for someone looking to expand into that market? 

Broke down numerous deals in the area on market and this one fit the best for what we were trying to do.

But being we are in a smaller market, the main buyers around here already have their cash lined up and have for many years, and those certain guys buy a bulk of the deals.

Outside of tier 1 markets, valuations are high actually.

Also, I don't know your market, but here in Columbus, $70-$85k to rewire a three unit property is biggity bonkers.

In regards to your mark to market for the rental; who gave you that type of range it'd rent for?

With quicker transactions and less market saturation than traditional real estate, this niche offers unique growth opportunities.

Hi BP Community, I'm an investor in a few Ohio markets and I'm looking to break into Detroit.

While opinions may vary, I rely on data to help drive real estate decisions and planning.Key ConsiderationsEducational Attainment: 77008 boasts higher numbers of residents with bachelor's (12,241) and master's degrees (5,739) compared to 77063.Demographics: 77063 has a higher percentage of foreign-born residents (41.02%) which typically indicates a strong rental market and with 76.86% renter-occupied versus 32.60% in 77008.Economic Factors: Median income in 77008 is $140,609 with a low unemployment rate of 3.37%, whereas 77063 shows lower median income ($51,899), higher unemployment (9.99%), and more families below the poverty level (16.51%), which may indicate economic diversity but also potential rental payment risks​​.Age Distribution: 77008 has more middle-aged residents (35-54) [8970 compared to 6,115] and a slightly higher proportion of young adults (25-34) compared to 77063 but both are popular with younger adults suggesting strong rental markets equally exist.

However, it all comes down to what the appraisal says market rent will be as a LTR not MTR.