Cincinnati, Dayton, Columbus, Ohio residential MFRs

New to Real Estate · Charlotte, NC · Member since 2018 · 19 posts · 5 votes

Interested in investing in duplexes, triplexes, and fourplexes in Ohio, specifically, Cincinnati, Dayton, or Columbus. I’m primarily concerned with cash flow but I do not ignore appreciation. Thoughts on these markets? Thanks.

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Scott Lyons

Cincinnati, OH · Member since 2018 · 62 posts · 19 votes

Not to start a debate, but saying Columbus is 3x more populous than Cincinnati is misleading. Sure, within specific city limits it may be but that's just because of how the lines are drawn in the city. Columbus is a great city but as of earlier this year, Cincinnati had a bigger metro area. Northern KY doesn't get included in the City total, nor does Norwood and other areas within a handful of miles from the city center.

https://www.dispatch.com/news/20180322/columbus-metro-area-now-bigger-than-that-of-cleveland-and-gaining-on-cincinnati/1

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Vincent Reid
Real Estate Broker · Lexington, SC · Member since 2014 · 28 posts · 14 votes
7y
Good evening Brent. I am here in Columbus and have to say that it's a great market. You can get good cash flow here. Appreciation as you know is a plus but I recently sold a couple of my buy and holds because the market has gone up so much in the last few years. Let me know if I can be of any service to you.
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Joshua Valera
Rental Property Investor · Member since 2018 · 2 posts · 1 vote
7y
I'm in Toledo. Any thoughts or feelings about investing up here? My only real worry is based on my capital and the caliber of tenant that will result.
Low income duplexes.. Bad idea?
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Brandon SturgillBusiness Member
Real Estate Broker · Columbus, OH · Member since 2013 · 3k+ posts · 1k+ votes
7y
@Brent B. As far a cities go, Columbus is 3x's more populous than Cincinnati and 5x's the size of Dayton...it's the 2nd largest city in the Midwest and the center of industry in the state. Columbus is not comparable to smaller or other "popular" cities like Indianapolis, Nashville...Raleigh, Cleveland, etc...where there is a lot of value add opportunity still. The market here is generally trading at a very consistent premium unless you venture to risky areas or start to speculate. I can write a book about the city, but it's probably better to look at some data...here is a free resource that can convey the strength of the city: https://columbusregion.com/columbus-2020/
Everyone loves where they live, but the facts on why Columbus is arguably one of the best markets in the US speaks for itself.
Glad to chat further on this.
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Scott Lyons
Cincinnati, OH · Member since 2018 · 62 posts · 19 votes
7y
Not to start a debate, but saying Columbus is 3x more populous than Cincinnati is misleading. Sure, within specific city limits it may be but that's just because of how the lines are drawn in the city. Columbus is a great city but as of earlier this year, Cincinnati had a bigger metro area. Northern KY doesn't get included in the City total, nor does Norwood and other areas within a handful of miles from the city center.
https://www.dispatch.com/news/20180322/columbus-metro-area-now-bigger-than-that-of-cleveland-and-gaining-on-cincinnati/1
6 Reply
David Probert
Rental Property Investor · Dayton, OH · Member since 2018 · 6 posts · 3 votes
7y
Greetings, I'm a wholesaler in Dayton. there's still good opportunity available in the area.
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Rachel Zhang
Investor · Fremont, CA · Member since 2010 · 46 posts · 9 votes
7y
Hi Ohio investors,
do you have any great honest investor friendly contractors to recomend to me for cincinnati area?
I got few bids from local contractors, but the quote is like CA price or more. Recently bought rentals here.
Thanks
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Kevin May
Rental Property Investor · Lawrenceburg, IN · Member since 2016 · 31 posts · 6 votes
7y
Hi @Rachel Zhang What area of Cincy are you investing in? Some Contractors around here will only do high-end rehabs and they will quote every project like that.
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Rachel Zhang
Investor · Fremont, CA · Member since 2010 · 46 posts · 9 votes
7y
@ Kevin May
Its in Clifton. Just change some light fixture to update the look, touch up paint, replacing kitchen ceiling tiles, which can be drop in the existing grid. The quote was $55 to replace one light fixture! (labor only)! I am shocked.
Whats the average hourly rate for general contractor ?
Do you know whats the labor cost for a 5x8 bath room complete rehab ? labor cost only. ... tiled floor, replace vanity , sink, bath tub, shower, titled bath wall. It should not be more than CA.
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Jeffrey Grieshop
New to Real Estate · Coldwater, OH · Member since 2018 · 105 posts · 61 votes
7y
Originally posted by @Joshua Valera:

I'm in Toledo. Any thoughts or feelings about investing up here? My only real worry is based on my capital and the caliber of tenant that will result.
Low income duplexes.. Bad idea?
I am sure some headaches could come with low-income housing in Toledo but I am sure so could some, um, Benjamin Franklin's. I am not speaking from tenant experience. But, it has been said and probably goes without saying that with lower tier properties are going to come lower tier tenants, which, statistically speaking, are more likely to make problems arise.
Screening tenants is a very important process so brush up on that subject. There will be problems regardless. There will be roadblocks. At the end of the day, even the ones we make out to be a huge deal usually aren't. Most problems just take patience, time, and reasoning. But, as always, it's up to you to do your best at keeping those problems from arising.
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