Updated 13 days ago on . Most recent reply
Overlooked markets on the west side
Lorain and Elyria on Cleveland’s west side are seriously strong but often overlooked investment markets. They’ve got a really appealing price-to-income ratio—about 2.93 times—and solid cap rates around 4.7 percent. Median home values are roughly $258K in Lorain County and $172K in Elyria, with rents often between $1,400 and $1,800+. Plus, the market is balanced, and they’ve got great long-term potential, especially with proximity to Lake Erie and Cleveland. I’d love to hear from anyone who’s invested there—what’s your experience been like?
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#3 Multi-Family and Apartment Investing Contributor
- Rental Property Investor
- San Diego, CA
Same as Lake County, Ohio. It is still a good old boy network out there too. I have a lot of apartments complexes in Willoughby, Mentor, and Painesville. Painesville mostly, besides a 57 unit in Mentor for sale now and 9 unit in Wiloughby and 24 unit it Ellet near Akron. The rest of my apartment complexes are in Painesville. Painesville has very similar demographics to Lorraine and Elyria too if you check.
Swanny (Michael Swan)
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