Parma investing VS. Cleveland internal

4 Replies | Cleveland, Ohio

Hi BP'rs,

I started investigating Cleveland area and found Parma as a good starting point from numbers perspective (Rent VS. house prices, low unemployment, high relative income, etc.).

Does anyone around here invests in Parma ? Does the reality match the numbers ?

Thanks,

Benny

Originally posted by @Benny Gelbendorf :

Hi BP'rs,

I started investigating Cleveland area and found Parma as a good starting point from numbers perspective (Rent VS. house prices, low unemployment, high relative income, etc.).

Does anyone around here invests in Parma ? Does the reality match the numbers ?

Thanks,

Benny

 Parma is pretty solid. The tenant base is more stable than that of Cleveland. Purchase prices on the houses are higher but the rents are a bit higher, the housing stock is newer and in better general repair.

Originally posted by @Benny Gelbendorf :

Thanks @James Wise

What are the entry prices for C+ , B type areas for single family homes ?

 Parma you're looking at $85k-$100k entry price. In a C-class area you're looking at about $55k-$70k.