Renting a Condo in Cleveland Suburbs Questions.

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Renting a Condo in Cleveland Suburbs Questions.

Eric Zunkley
Residential Real Estate Agent · Los Angeles, CA · Member since 2014 · 32 posts · 6 votes

I'm looking at a deal in East Cleveland Suburbs about 20 miles east. I grew up in the neighborhood and went to high school around there. 

Questions.

I was curious what other landlords use for an estimate for vacancy in suburbs of Cleveland? I started with 1/12th of annual rent. 

What is an acceptable GRM to purchase at in suburbs of Cleveland?

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  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    11y

    What suburb are we talking about?

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  • Eric Zunkley
    OP
    Residential Real Estate Agent · Los Angeles, CA · Member since 2014 · 32 posts · 6 votes
    11y
    Originally posted by @James Wise:

    What suburb are we talking about?

     Mentor

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  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    11y

    Mentor is a really nice area.

    You should not have a major vacancy problem.

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  • Eric Zunkley
    OP
    Residential Real Estate Agent · Los Angeles, CA · Member since 2014 · 32 posts · 6 votes
    11y
    Originally posted by @James Wise:

    Mentor is a really nice area.

    You should not have a major vacancy problem.

    So what is the market GRM or cap rate in that area?

    0Reply
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