Hollywood, FL · Member since 2015 · 65 posts · 11 votes
I have a friend who just moved to Ohio and is assigning houses. He sends me a few houses and telling me that the homes are cheap as I can see and that the inventory is wide open. He is particularly telling me about Canton.
Does anybody have any info to help?
Rental Property Investor · Sagamore Hills, OH · Member since 2015 · 40 posts · 27 votes
9y
Jean - I have been investing in North Canton since 2007 with single family and multi family rentals and have seen great appreciation and high quality tenants. Over the 5 units I have in North Canton, they average approximately 1 month of vacancy every 30 months. North Canton is a great community with a great school system.
The only problem with North Canton is that its hard to make the numbers work since the price per square foot is high (i.e. $125,000 for a 3 bed 1.5 bath 1250 sq. ft. which will rent for $1,250). So you have to keep your eye open and be willing to put in some sweat equity to get a property at a discount and beat the 1% rule).
Canton City is much less per square foot and has (according to the school rating systems) a less quality school system. Some neighborhoods in Canton are pretty bad, but some are consider 'C class'. But what Ryan said above is true - Canton City has been seeing significant improvement over the last 2 years and there is much more coming.
Point being, Canton and North Canton are two entirely different communities. If you want to buy in Canton (which I am looking into as well since the numbers work so well), make sure you stick to the Plain Local School District (i.e. Glen Oak). I would avoid anything inner city as of right now.
Feel free to reach out to me if you have any questions about a house you found or a location.
I live in Columbus Ohio and my wife is from Canton. Based off my many visits there to see family, north canton and jackson are great areas. Canton in general is seeing an improvement with new commercial development(bars, restaurants, strip malls) but I believe it's mostly in north canton. Other areas in ohio that are talked a lot on BP about are Akron, Cleveland and Columbus. Let me know if you're interested in Columbus market, it's the area I focus on
Rental Property Investor · Sagamore Hills, OH · Member since 2015 · 40 posts · 27 votes
9y
Jean - I have been investing in North Canton since 2007 with single family and multi family rentals and have seen great appreciation and high quality tenants. Over the 5 units I have in North Canton, they average approximately 1 month of vacancy every 30 months. North Canton is a great community with a great school system.
The only problem with North Canton is that its hard to make the numbers work since the price per square foot is high (i.e. $125,000 for a 3 bed 1.5 bath 1250 sq. ft. which will rent for $1,250). So you have to keep your eye open and be willing to put in some sweat equity to get a property at a discount and beat the 1% rule).
Canton City is much less per square foot and has (according to the school rating systems) a less quality school system. Some neighborhoods in Canton are pretty bad, but some are consider 'C class'. But what Ryan said above is true - Canton City has been seeing significant improvement over the last 2 years and there is much more coming.
Point being, Canton and North Canton are two entirely different communities. If you want to buy in Canton (which I am looking into as well since the numbers work so well), make sure you stick to the Plain Local School District (i.e. Glen Oak). I would avoid anything inner city as of right now.
Feel free to reach out to me if you have any questions about a house you found or a location.
Hollywood, FL · Member since 2015 · 65 posts · 11 votes
9y
Thanks for the responses.. what would be considered north canton. I am coming up in January to take a look around I would love to meet with anyone that may be available. I don't know the exact dates yet but I'll keep anyone interested updated.
Rental Property Investor · Sagamore Hills, OH · Member since 2015 · 40 posts · 27 votes
9y
Jean - I would be more than happy to meet up with you and answer any questions you have. Feel free to reach out to me when you are getting closer to your trip date and we can work something out.
Rental Property Investor · Sagamore Hills, OH · Member since 2015 · 40 posts · 27 votes
9y
Rohan,
North Canton: Diebold,Timken, and Walsh University
Akron: Bridgestone/Firestone, Curtiss-Wright, Alro Steel, The University of Akron
Columbus: Im not the best guy to answer this one, but there is a lot with respect to the university and its heavy in the finance and insurance industries.
Those are just a few big name companies, but in my opinion, the job stability on those 3 cities is positive.