Newbie question about Parma OH

6 Replies

Hi everyone! My husband and I are just starting out. We're interested in investing in the Cleveland area and according to the data we've found online, Parma looks like a good place to start. My question is - Which are the best neighborhoods in Parma for purchasing an SFR to flip with an ARV of $130-150K (and which neighborhoods should we stay away from)? Thx!

Originally posted by @Aviv Cohen :

Hi everyone! My husband and I are just starting out. We're interested in investing in the Cleveland area and according to the data we've found online, Parma looks like a good place to start. My question is - Which are the best neighborhoods in Parma for purchasing an SFR to flip with an ARV of $130-150K (and which neighborhoods should we stay away from)? Thx!

 Yeah, Parma is decent for investments, but why limit yourself? There are a lot of suburbs that are similar. Keep looking in Parma, of course, but if you widen your search you may find a property sooner. Other similar cities are, Brooklyn, Euclid, South Euclid, Bedford, Maple Heights, and Willowick.

Originally posted by @Aviv Cohen :

Hi everyone! My husband and I are just starting out. We're interested in investing in the Cleveland area and according to the data we've found online, Parma looks like a good place to start. My question is - Which are the best neighborhoods in Parma for purchasing an SFR to flip with an ARV of $130-150K (and which neighborhoods should we stay away from)? Thx!

 The further south in Parma you go the more higher the purchase price. North of Snow rd is mostly just 1,200 sq ft bungalows that sell around $90k-$120k. If you go south of Pleasant Valley you are almost in North Royalton and will see a much higher sales price. Personally I think you want to be in the $200k range when exiting a flip. Not a very big margin when you're at that entry level price point of $90k-$120k.

For more info on the other neighborhoods around Parma give The Ultimate Guide to Grading Cleveland Neighborhoods a read. I think areas like North Royalton, North Olmsted, Broadview Heights, Middleburg Heights, etc will all be better places to do a flip due to the increased price points, better schools and higher income buyer bases.