I've been to Cincinnati twice. My wife was born there. For some reason I can't explain, I have a bit of an interest in the city. Maybe I just know so many people "from" there.
I'm amazed that the Over the Rhine area has gone from one of the most dangerous neighborhoods in the US to what it is today. https://www.urbanadventures.com/blog/neighbourhood...
Holy cow, what a transformation in a short time.
Prices seem to still be low, and some of the are still looks a bit rough. For those who know the area, what are your thoughts? Is this transformation here to stay? Is it expanding?
I grew up in Cincinnati, when OTR was the neighborhood you avoided if at all possible. Now I go to church in OTR (although I live in the suburbs).
The transformation of OTR is here to stay, but it’s not complete. There are areas that have been developed, and other areas that are still Class D. In general, south of Liberty Street is developed, and north of Liberty is not. If prices are really low, it’s probably in an area that hasn’t seen development yet.
Hi Glenn, I moved to Cincinnati 5 years ago. The OTR renaissance is here to stay. At this point $1 billion dollars have been invested into the neighborhood. Enough condo, townhome, and business owners are invested in the neighborhood to not let it go to pot again. Good luck in your investments here. I'll send you the name of a realtor who knows the neighborhood like the back of his hand.
@Glenn Clapp I think it is here to stay. I believe there are still some sketchy parts of OTR, but with things like the new MLS Stadium being constructed, I think it's safe to say there will be some major growth here in Cincinnati within the next 3-5 years. Just my .02
@Glenn Clapp if you're looking at low prices in or near OTR, then you're looking at seriously dilapidated buildings or parts of downtown that haven't seen redevelopment yet. The new trendy OTR is here to stay, but there aren't any good deals on market in the trendy parts any more. I got lucky with my two properties down here (still live in one of them), but that's mostly because I bought five and two years ago.
OTR and the surrounding neighborhoods are either overpriced for investors or, at best, a speculation play on what will happen in the next five years. If you really want a good OTR deal and you don't want to rely on the economy continuing to explode for the next five years, I'd recommend looking for off-market deals.
I'm a newbie investor but was born and raised in Cincinnati and went to the University of Cincinnati which is very close to OTR. I have loved OTR and it's historic architecture long before it was cool (prior to the riots). I still think it has huge upside as there is still so much inventory and vacant run-down buildings. It will still take a long time for it to get to 100% but it's well on it's way. Definitely my favorite area in the city and my wife and I go down there every chance we get.
While the new stadium will be in the West End it's close enough to have a big impact on OTR.
As I said, I'm a newbie investor but open to connecting with anyone, especially relating to OTR.