Rental Property Investor · Castro Valley, CA · Member since 2011 · 81 posts · 17 votes
Hello BP ! I am planning to buy a duplex or triplex to house hack in and need some ideas on the location. I am considering the following areas mostly because of the low price points they offer. Toledo, Akron, Canton, and Youngstown Ohio. And also Pittsburgh Pa metro area. My price range is between $50k to $150k. I will live in one of the units. It can not be a fixer and must be move in ready or maybe it just needs a little paint because I am not that handy and I don’t want to mess with fixing stuff.
I am also thinking about furnishing one of the units and making it a medium term rental for travelling nurses. My question is which location is best and also if a property priced this low can it still qualify for a medium term rental ! If you have any advice or experience, I would appreciate the help. Thanks.
Rental Property Investor · Canton, OH · Member since 2018 · 59 posts · 77 votes
3y
We have 6 duplexes in the Canton area, I stick to 4 school districts: Perry, Plain, North Canton and Jackson. The latter two are definitely out of your price range. You can probably find an up/down duplex in Perry or Plain townships for $150k or less, especially now that the market is softening. My advice would be to stay out of Canton LSD even though it will look extremely affordable, you probably won’t want to live there.
Real Estate Agent · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes
3y
My guess is you will find pros and cons to each of those areas. Because you will be house hacking, here are some questions to consider:
1. What lifestyle do YOU want? Are you okay with living in those areas? Can you find work?
2. What can you realistically get for that price point?
3. I'm assuming you will want to convert this into a long term rental. What kind of tenants do you want and will those areas get you there? For example, if your ideal tenant is young white collar professionals, which location would likely have it?