@Joseph Cornwell , you are correct! It is amazing to see the same exact house built in the same era (50's) have a spread over $100k+. That makes it very difficult for out of state investors.
@Adam Curry Hi Adam, I'd be interested in seeing your report on Madisonville. Are you still willing to share it?
I own a commercial property in Madisonville, purchased in 2014, at the time seemed pretty bad. It has actually worked out quite well so far, and I am looking forward to getting into some residential rentals. I'm in the area nearly every day, and attend the local business owners meet-ups. I can say it has improved significantly in the time I've been there, especially the last nine months or so. Prices have been going up quickly, and opportunities less frequent. Does anyone currently own residential rentals in Madisonville, and how are your recent experiences with regard to turnover and crime related expenses?
I just bought a two family in Clifton.. near mecklenbourg gardens... with the MLK exchange/kroger/hospitals/ShortVine and UC's ever increasing student population I'm trying to continue in this area. I have 2 family(1b1b and 4b2b) I was able to increase rents from $700--$900 and $1200-$1700 just due to the prior owner not really keeping up with the market. I'm also currently looking at a few in Northside which I believe is kind of a sleeping giant.... there is still plenty of stock beautiful home... RENO will be needed... but every street has multiple homes being renovated... anything within a mile or two of Hamilton Ave. Walnut Hills can still have great deals....Covington, Newport, and Ludlow KY all have tremendous opportunities as well... with Amazon adding 500 full time high paying jobs as well as 2000 other part time jobs with their global transportation hub at CVG... i really like northern ky.
Hello Cincy BPers,
Any new updates to this topic? Very interested in Cincy. Happy to hear what 2017 has done locally.
Lots of talk here about Madisonville, so here's another person's opinion as of (9/14/17)
Buy and hold - not worth it (someone mentioned surrounding areas being more desirable, i.e. Oakley), but more so because the fix and flip market is OUT OF THIS WORLD in Madisonville right now. Properties are being bought for $60k, $30k reno and selling for just shy of $200k.
Another opinion - if you are an investor who doesn't invest where he doesn't feel safe or wouldn't himself live, stay very far away from anything Price Hill.
@Daniel O'Toole Know your post is from a couple months back, but for those who have no desire to flip, I take this as a sign that Madisonville is in the path of progress and may be ideal for buy and hold, especially for those looking to employ a BRRR strategy.
Madisonville has been “up and coming” for the last 20 years... mostly because it’s vicinity to some Class A neighborhoods— The commercial district there remains untapped— not saying it’s not ripe for gentrification, but nothing has changed in a good long while.
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