Investing in a Quad in Cleveland OH

[Jag C.]

Any Cleveland investors/residents here? I'm looking at a fully rehabbed turnkey quad in the Clark-Fulton area (on W 54th St). The numbers come in at 7% cash on cash return at 20% down with 5.25% over 30 years (after taking into account property management and 15% reserves to cover vacancy and capex/maintenance).

Its 4 blocks from Gordon square, and down from the medical hospital that is getting a $1billion makeover, and walking distance to St Ignatius private school, 7 minutes drive to Ohio City.

Any thoughts about the area or the deal? I am especially interested in any insights into the area.

Thank you.