Visiting Cleveland for a Week of Research

3 Replies

Good afternoon Cleveland REI professionals.

I flew into the city last night and I am staying at an Air BnB in Cleveland Heights. I am here to evaluate potential neighborhoods for a rental investment. I am looking to acquire a property with similar returns to one I purchased earlier this year (three unit brick rowhouse in Baltimore with purchase price of $135,000 and rents of $750/$750/$800; prior owner was behind on his bills and accepted my offer after initially listing for $175,000).

The three questions that I have for all of you:

1. Which neighborhoods do you all see as up and coming, i.e. potentially moving from C-class to B-class over the next few years? I am looking at the Ultimate Real Estate Guide provided by James Wise as a base line and I am curious about how other investors perceive the B and C neighborhoods around here.

2. I prefer brick triplexes to get a low per unit cost and lower maintenance costs compared to siding. Are there any particular neighborhoods that have a lot of these kinds of properties?

3. Which real estate agents do you see as most helpful for an out of state investor?


Thank you all for taking the time to discuss these questions.

We have properties in Cleveland Heights and have been very happy with them. There are no brick triplexes currently for sale in the MLS for Cleveland Heights, though there are probably some off market options. The biggest thing you want to be careful of in CH is making sure you are in CH Schools. Some of the areas fall into East Cleveland Schools, which can have a significant impact on value and rents.

I'd look at the edges around the Detroit Shoreway area, edges around Ohio City, Tremont; anything in Old Brooklyn - also anything close to University Circle (Cleveland Clinic, University Hospitals, Case Western - major cultural hub + employment center).  

Originally posted by @Timothy S. :

Good afternoon Cleveland REI professionals.

I flew into the city last night and I am staying at an Air BnB in Cleveland Heights. I am here to evaluate potential neighborhoods for a rental investment. I am looking to acquire a property with similar returns to one I purchased earlier this year (three unit brick rowhouse in Baltimore with purchase price of $135,000 and rents of $750/$750/$800; prior owner was behind on his bills and accepted my offer after initially listing for $175,000). 

The three questions that I have for all of you:

1. Which neighborhoods do you all see as up and coming, i.e. potentially moving from C-class to B-class over the next few years? I am looking at the Ultimate Real Estate Guide provided by James Wise as a base line and I am curious about how other investors perceive the B and C neighborhoods around here.

2. I prefer brick triplexes to get a low per unit cost and lower maintenance costs compared to siding. Are there any particular neighborhoods that have a lot of these kinds of properties?

3. Which real estate agents do you see as most helpful for an out of state investor?


Thank you all for taking the time to discuss these questions.

Hello and welcome! I hope you have a great time in Cleveland. Be sure to check out the Rock n' Roll Hall of Fame. 

For me, I really like Euclid and Cleveland Heights as investment areas. Good luck to you though.