Is cleveland a good place to invest?

Centreville, VA · Member since 2016 · 1 post · 3 votes

I'm new to real estate investing. Is Cleveland a good place to invest? I hear about issues with lead in the paint and soil on older homes. Anyone have any concerns with lead issues or any other health issues associated Cleveland homes?

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Al Perez

Rental Property Investor · Cleveland, OH · Member since 2015 · 97 posts · 21 votes

Hello Marc, I've been investing in Cleveland, OH for the last five years after doing the same in Atlanta, GA and Michigan. Low RE prices (compared to Indianapolis. Buffalo, Pittsburgh, Grand Rapids, Chicago and Columbus), high rental demand, diverse industry, and RE prices moving upward. Moderate traffic, very friendly county's website, etc. I came to stay. Feel free to ask questions. Cheers,

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Steven Dragmen
Real Estate Investor · Cleveland, OH · Member since 2010 · 24 posts · 17 votes
7y
Cleveland is a great place to invest. Lead paint was widely used before 1978 in cities all across the US. The city of Cleveland is currently working on some sort of lead paint legislation possibly geared after the Rochester NY lead paint rental ordinance. Bare soil at a house with deteriorating paint is an issue. You could side the house with a common house wrap tucked under at the bottom and side the house, this takes care of the exposed lead paint. The soil which we can assume is contaminated and be covered with mulch, straw (would pass a clearance test) or planting new sod. These are approved interim controls that should take place before any issues with a child happen. The EPA of course allows for abatement of the issues and is more costly than interim control methods.
These would be a permanent cover or removal and proper disposal of the contaminated soil. My point is any responsible landlord should take the needed interim controls available to them before a possible issue with a child arises. Many times these are maintenance issues that possible should be completed with out the threat of lead paint. Landlords should not be scared of the lead paint ordnance rather educate themselves on what should be done to prevent an issue.
A prospective landlord may look for homes that are already sided (no exposed chipping paint), have replacement windows or jamb liners in place, and in general lack or can be made to lack chipping paint. These few items will greatly reduce lead exposure in the homes they propose to rent.
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James Wise
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
7y
Originally posted by @Marc Shin:

I'm new to real estate investing. Is Cleveland a good place to invest? I hear about issues with lead in the paint and soil on older homes. Anyone have any concerns with lead issues or any other health issues associated Cleveland homes?
There isn't really anything specific about Cleveland in regards to lead paint. Any metropolitan area where the majority of the housing stock was built prior to 1978 is going to have the same issues. Cleveland has been enforcing the removal of lead paint hazards much more aggressively this year than in the past. I imagine that's why you've had the paint issues on your radar.
As for whether or not it's a good place to invest in I recommend checking out The Ultimate Guide to Grading Cleveland Neighborhoods for more info on the market.
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Christopher Blanco
Real Estate Consultant · Cleveland, OH · Member since 2016 · 511 posts · 345 votes
7y
Cleveland is a great place to invest. We are getting lots of attention from foreign investors as well as nationwide US investors. I would be happy to set up some time to talk about your goals and how someone on the ground can help. I will send a connection request!
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Michael Kiley
Real Estate Agent · Cleveland, OH · Member since 2017 · 184 posts · 253 votes
7y
I agree with what @Christopher Blanco and @James Wise said.
Also, lead paint is not an issue if it is sealed properly. Opportunities to BRRRR are plentiful in the Land
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Al Perez
Rental Property Investor · Cleveland, OH · Member since 2015 · 97 posts · 21 votes
7y
Hello Marc, I've been investing in Cleveland, OH for the last five years after doing the same in Atlanta, GA and Michigan. Low RE prices (compared to Indianapolis. Buffalo, Pittsburgh, Grand Rapids, Chicago and Columbus), high rental demand, diverse industry, and RE prices moving upward. Moderate traffic, very friendly county's website, etc. I came to stay. Feel free to ask questions. Cheers,
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- Sara Joe
  Specialist · Member since 2025 · 82 posts · 31 votes
  9mo
  Quote from @Al Perez:
  
  Hello Marc, I've been investing in Cleveland, OH for the last five years after doing the same in Atlanta, GA and Michigan. Low RE prices (compared to Indianapolis. Buffalo, Pittsburgh, Grand Rapids, Chicago and Columbus), high rental demand, diverse industry, and RE prices moving upward. Moderate traffic, very friendly county's website, etc. I came to stay. Feel free to ask questions. Cheers,
  0 Reply
Tom Ott
Equity Raiser and Turnkey Provider · Cleveland, OH · Member since 2016 · 4k+ posts · 1k+ votes
7y
Originally posted by @Marc Shin:

I'm new to real estate investing. Is Cleveland a good place to invest? I hear about issues with lead in the paint and soil on older homes. Anyone have any concerns with lead issues or any other health issues associated Cleveland homes?
Any city that has properties built before 1978, which is a lot, is going to have lead paint. That doesn't make it an issue that much for your investment. I know the state and Cleveland are trying to pass some new laws to protect tenants when lead paint is detected. The suburbs don't see as much of the regulations, but the homes are also older there as well.
Good luck!
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Mike D'ArrigoPro Member
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
7y
@Marc Shin Lead based paint isn't unique to Cleveland. It was widely used everywhere prior to 1978, It's not an issue unless you're going to be tearing out walls and disturbing the paint.
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Bob Prisco
Specialist · Cleveland, OH · Member since 2018 · 1k+ posts · 666 votes
7y
@Marc Shin YES, you must have a good team,,,,,,,,,,,,,,,,,
Good luck
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Brandon SturgillBusiness Member
Real Estate Broker · Columbus, OH · Member since 2013 · 3k+ posts · 1k+ votes
7y
@Marc Shin apparently it is if you're from Cleveland...lol...I'm usually pretty hard on the city because we live in data...and Cleveland has the exact same profile as Detroit pre-collapse...this isn't an opinion its a fact...that's not a good thing...I think the question is whether you are comfortable with the assumption of risk. If yes, go for it. If no, pick a market with a better economic outlook.
To be honest it's probably a fine place to invest, and despite the overwhelming negatives, Cleveland has some real gems...and great suburbs...you just need to have a well defined plan and knowledgeable team on the ground.
Best of luck
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Robert Matelski
Rental Property Investor · Austin, TX · Member since 2018 · 214 posts · 270 votes
7y
Originally posted by @Brandon Sturgill:

@Marc Shin apparently it is if you're from Cleveland...lol...I'm usually pretty hard on the city because we live in data...and Cleveland has the exact same profile as Detroit pre-collapse...this isn't an opinion its a fact...that's not a good thing...I think the question is whether you are comfortable with the assumption of risk. If yes, go for it. If no, pick a market with a better economic outlook.
To be honest it's probably a fine place to invest, and despite the overwhelming negatives, Cleveland has some real gems...and great suburbs...you just need to have a well defined plan and knowledgeable team on the ground.
Best of luck
Would you mind expanding on your comment about Cleveland having the exact same profile as Detroit pre-collapse? What metrics/data/parameters specifically are you referencing?
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Michael Ohara
Investor · HI · Member since 2017 · 328 posts · 124 votes
7y
I invest in Cleveland all the way from Hawaii. No lead paint issues that weren't easy to fix. For the most part, no issues.
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Nate Richards
Investor · Tallmadge, OH · Member since 2014 · 81 posts · 32 votes
7y
If someone is seeing a 18Cleveland/08Detroit resemblance in "profile", the data or data sources for these "facts" best be quadruple checked.
Detroit's; 2X the size @ 700k pop, +80% African American, 10% white non-hispanic, single industry automotive focused, for a start.
Cleveland's; 300k population, 50% African American, 40% white non-hispanic, and carries health care, insurance, manufacturing (Probably 70% non-auto), and financial sector jobs. Their largest employer Cleveland Clinic has 32k employees in the city which is more than the top 5 Detroit employers combined.
Unlike Detroit, employees drive into the city enmasse for work instead of to the suburbs to massive sprawling factories. It's clear even from a 1000ft view that Cleveland is well diversified. Preventing a potential meltdown like Detroit saw.
That being said you can easily choose a poor area without a knowledgeable team. These small city neighborhoods vary in quality and desirability block to block, not by zipcode.
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Charlsi Kelley
Realtor · Charleston, SC · Member since 2017 · 81 posts · 39 votes
7y
@Michael Kiley I currently live in Denver and my husband and I are actually considering moving to Cleveland inAugust so we can start actively investing. I have family there and prices here in Denver leave us very few opportunities. We have some big RE goals and it’s just not feasible here with our high cost of living!
I will actually be in town next week and would love to connect and go over some neighborhoods that work well with BRRRR strategy. Right now I am honing in on S Euclid and Cleveland Heights but would love some local advice from a realtor who knows investing !
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Michael Kiley
Real Estate Agent · Cleveland, OH · Member since 2017 · 184 posts · 253 votes
7y
@Charlsi Kelley Sure! Let's connect when you are in town next week.
South Euclid and Cleveland Heights?! Why settle for 2nd best when you could look on the better side of town (West of the Cuyahoga River) :) No seriously, those are good areas but I'm partial to the westside and there are lots of potential BRRRR's in C & B neighborhoods over here.
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Lina Valenzuela
Real Estate Agent · Bridgeport, CT · Member since 2017 · 7 posts · 1 vote
9mo
Hi, I'm wondering how things have fared for those that have been investing in Cleveland? I know I am reviving this post but if anyone has any information to share, it would be appreciated!
1 Reply
- James Wise
  Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
  9mo
  Quote from @Lina Valenzuela:
  
  Hi, I'm wondering how things have fared for those that have been investing in Cleveland? I know I am reviving this post but if anyone has any information to share, it would be appreciated!
  
  Pricing in Cleveland has probably doubled since this post was created. Rents have gone way up as well.
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- Samuel DioufBusiness Member
  Real Estate Agent · Columbus & Cleveland, OH · Member since 2023 · 1k+ posts · 1k+ votes
  9mo
  Quote from @Lina Valenzuela:
  
  Hi, I'm wondering how things have fared for those that have been investing in Cleveland? I know I am reviving this post but if anyone has any information to share, it would be appreciated!
  
  Hey Lina, I've had a ton of clients from all over start investing and most have been seeing solid success.
  The biggest issue I see is people jumping into the market too soon without knowing the ins & outs of Cleveland. There are certain things you need to learn in order to maneuver correctly and not run into any issues with the city, your team, and just the property in general.
  [email protected]614-662-1652
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- Arman AhmedPro Member
  Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 956 votes
  9mo
  Quote from @Lina Valenzuela:
  
  Hi, I'm wondering how things have fared for those that have been investing in Cleveland? I know I am reviving this post but if anyone has any information to share, it would be appreciated!
  
  @Lina Valenzuela
  
  Cleveland has remained a fairly resilient market for investors, especially in the single-family and small multifamily space, with steady rental demand driven by healthcare, education, and manufacturing employers. Many investors I’ve worked alongside have seen consistent cash flow rather than rapid appreciation, which makes it attractive for long-term buy-and-hold strategies when deals are bought right and managed properly.
  Neighborhood selection and on-the-ground due diligence have been key differentiators in performance, as returns can vary block by block.
  Overall, for those taking a disciplined approach and leveraging local market insights, Cleveland has continued to perform as a practical, income-focused investment market
  
  [email protected]614-418-6081
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Alfath AhmedBusiness Member
Real Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
9mo
Quote from @Marc Shin:

I'm new to real estate investing. Is Cleveland a good place to invest? I hear about issues with lead in the paint and soil on older homes. Anyone have any concerns with lead issues or any other health issues associated Cleveland homes?

I like cleveland for cashflow. You can find a ton of good duplex deals for $150k that are worth about $180k. They will usually gross around $1,800 to $2,000/mo.
Most properties don't have lead cert (some do) but you can get it done alongside the rental registration. Some PM's can take care of this.
I have info and a whole drive of info i put together on this.
[email protected]614-802-5698
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Sara Joe
Specialist · Member since 2025 · 82 posts · 31 votes
9mo
Quote from @Marc Shin:

I'm new to real estate investing. Is Cleveland a good place to invest? I hear about issues with lead in the paint and soil on older homes. Anyone have any concerns with lead issues or any other health issues associated Cleveland homes?
Cleveland can be a solid market depending on the neighborhood and strategy.
Older housing stock does mean lead paint is common, but it’s manageable if you underwrite correctly and budget for remediation — especially in A/B/C areas.
A lot of investors still do well there focusing on cash flow and buying right.

Like most Midwest markets, the challenge isn’t demand, it’s sourcing good deals at the right numbers.
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