What's the word with Toledo, OH?

[Thomas Haessig]

Hey Friends, I've been doing research for a few months now and have been running the numbers on different markets. Is it just me, or does it seem like Toledo, OH is up and coming? I am curious about everyone's thoughts. In terms of cash flow, Toledo seems to have the highest profitability metrics.

I would appreciate all and everyone's thoughts, feelings, and insights.

[Eric Puffenberger]

Quote from @Thomas Haessig:

Hey Friends, I've been doing research for a few months now and have been running the numbers on different markets. Is it just me, or does it seem like Toledo, OH is up and coming? I am curious about everyone's thoughts. In terms of cash flow, Toledo seems to have the highest profitability metrics.

I would appreciate all and everyone's thoughts, feelings, and insights.

I am an agent in Toledo who helps investors get started in our area. Toledo has always been a strong investor market (our local investor organization claims it’s the most active market in the US), but lately it seems it’s getting even more attention. Turnkey properties are flying off the market and are going 10-15% over asking. But prices are still low enough to meet the 1% rule and cash flow nicely. For example, a nice 2/1 duplex in a fringe area (C area), is going for $120,000-$140,000. You can get $950 for each unit. Therefore it’s going to pencil out for most. Prices are definitely creeping up
and we have extremely limited inventory, so deals are harder to find, but they are out there. In my opinion, I feel rental rates have plateaued a bit, but I do see the nicest properties pushing rental rates higher.