Rental Property Investor · Zionsville IN / Solon, OH · Member since 2021 · 4 posts · 3 votes
Hi Bigger Pocket Fam,
I am an out of state investor and have been looking around Cincinnati for cash flow opportunities. Recently I discovered this little town across the Ohio River, Ludlow, KY. I would greatly appreciate it if any property managers, investors or RE pros who run rental properties in Ludlow could give me some pointers.
1. I am very interested to get rent comparison data. How sought after is rental property in this town? What can a 3 bed room / 2 bath townhouse rent for in Ludlow? I would love to connect and get whatever info and connections you have to get started.
2. Any insight into the rental market of Cincinnati vs. the south shore of the Ohio river? I am surprised to see the crime rate on the Northern Kentucky side being so low compared to Cincinnati and the school rating are also better in general. I would love to hear your thoughts about Cincinnati vs. Northern Kentucky as buy and hold investor.
3. Any thoughts about the difference between Bellevue, Covington, Dayton and Ludlow? I would love to connect with you if you have experience in any of these places.
Realtor · Cincinnati, OH · Member since 2018 · 8 posts · 11 votes
4y
I’d be happy to share more about Ludlow. I work in Cincy and NKY as a realtor. It’s a great place for rentals, short or long-term. Taxes might be a bit higher than you’d expect at $17-$18/$1,000, but it’s definitely a river city to pay attention to. Newport, Covington, Bellevue, Dayton, and Ludlow: these are the places to look. Newport is divided by east (pricier) and west, and Covington has many sections that are all a bit different. But Bellevue, Dayton, and Ludlow are all smaller and good options with Ludlow, Dayton, W Newport, and parts of Covington probably being the most affordable. It’s just competitive right now, and properties go quickly.
For rentals in Ludlow, you’re probably looking at 1,300-1,500 for a 3/2, and demand is high, so anything would rent quickly. I might be low, but it just depends on condition and location. There are some areas in Ludlow that are in the floodplain, so it would be wise to keep that in mind as well.
Realtor · Cincinnati, OH · Member since 2018 · 8 posts · 11 votes
4y
I’d be happy to share more about Ludlow. I work in Cincy and NKY as a realtor. It’s a great place for rentals, short or long-term. Taxes might be a bit higher than you’d expect at $17-$18/$1,000, but it’s definitely a river city to pay attention to. Newport, Covington, Bellevue, Dayton, and Ludlow: these are the places to look. Newport is divided by east (pricier) and west, and Covington has many sections that are all a bit different. But Bellevue, Dayton, and Ludlow are all smaller and good options with Ludlow, Dayton, W Newport, and parts of Covington probably being the most affordable. It’s just competitive right now, and properties go quickly.
For rentals in Ludlow, you’re probably looking at 1,300-1,500 for a 3/2, and demand is high, so anything would rent quickly. I might be low, but it just depends on condition and location. There are some areas in Ludlow that are in the floodplain, so it would be wise to keep that in mind as well.
Rental Property Investor · Cincinnati, OH · Member since 2020 · 2 posts · 2 votes
4y
@Yuk Wai Dominic Ng I purchased a duplex in Newport last year and it rented immediately, way above most rental calculators. I am not as familiar with Ludlow but Northern Kentucky is very up and coming with a lot of retail, entertainment and beautification projects in the works. Employment opportunities and low cost of living is driving a lot of people to move here.
Real Estate Agent · Cincinnati, OH · Member since 2019 · 45 posts · 42 votes
4y
Hi Dominic - sounds like you got some great answers regarding ludlow. My first rental was a condo in ludlow (River's breeze) which i had just moved out of.
Ludlow has become increasingly popular in the past couple of years and i would definitely recommend it for rentals / long term holds as i think there is good growth opportunity.
ONE THING TO LOOK OUT FOR - ludlow has a few streets that are very prone to flooding because of the proximity to the river. Make sure you do your due dilligence on this if you are purchasing properties off market / have to make quick decisions.
Cincinnati, OH · Member since 2016 · 116 posts · 83 votes
4y
North KY is very up and coming. Personally, I LOVE anything around the Mainstrasse area.. so much night life and restaurants. Those units have an additional benefit of being very popular airBnbs. Also look at Austinburg, very high rental demand with low prices (for now) I put in an offer for a 4 unit but seller took a lower all cash offer. Neighborhood with Unataza Coffee shop is nice too. If you have cash, join this email newsletter at https://realequity.com/ They get off market deals in good KY areas all the time.