I would say there isn't a bad part of the falls really. But the 2 areas i would shy away from are those few properties south east of 2nd St (directly across from the gorge). And east of Rt 8 on portage st. They are slightly harder to rent fire some reason, but still pull good market rate money. I do north hill area, while my neighbors have 60 units throughout Cuyahoga falls. We basically focus on 3br or larger. they get about $150/ unit more than me on average so the area is solid.
@Nate Richards I am looking to create solid, long term rentals in a pride of ownership area. Any pockets of Cuy. Falls that are more desirable for owner occupants?
I will be rehab-to-renting houses and want tenants that will pay for and respect a nice house.
I like to see long term values that will trend slightly higher than inflation because people want to live there. I also need a good enough appraisal after repair to make sure that putting financing in place isn't an issue.
I am new to the area and am trying to shorten the learning curve.
Well,... You are probably not aware that over 60% of the city population rents. This means that every neighborhood has a significant amount of renters and it's why investors I know select 3br sfr's (less turnover with families 3+). They follow the 60k "all in" and rent @ $1000-1150 strategy. I'd look at retail listings and you'll find it's all in the $90-125k range regardless of sub-division. The visible "pride of ownership" factor varies by block. If I were going to look for a negative it would be areas that have slab foundations, or blocks of multi units. I would avoid the multis only because you can get tenants willing to handle all property maintenance in this area unlike in the multis.
Alternatively, I'm "all in" @ $35k and rent for $750-850. Including all maintenance in an adjoining community.
@Nate Richards, how do you feel about properties on Hillcrest drive just north of the gorge in Cuyahoga Falls? I'm a Stow resident and don't know the area very well. Thanks!