Agents in Youngtown, OH zip code 44507 and 44502
Hi, I am trying to analyze an opportunity that I may have with an investor in Youngstown, specifically the zip codes I mentioned in the subject. It seems as though properties can be bought very cheap and with about $20-30K can be renovated into a good looking home. According to realtor.com the median homes in the area are worth around $71K. Rents, I was told, are max $600/mo. and the area is low income. The numbers seem to meet the 2% rule and if it costs me $35-40K to buy and renovate a house and it's worth $71K, that seems good to me too. I have seen that the vacancy rate is high too. Anyway, if there is anyone that is familiar with these areas in Youngstown and could shed some light on the city it would be greatly appreciated. Do my numbers make sense? How bad or good is Youngstown for investors? Is there any appreciation? Is the city improving or declining? Do the areas I've mentioned have any investor activity? Thanks.