Duplexes and Triplexes

Member since 2025 · 24 posts · 24 votes

Looking to expand into the Cleveland market. Can anyone provide some insights? I've noticed prices are relatively cheap entry points and looks to have moderate to great cash clow on properties. How about appreciation?

Any insights into this market would be appreciated.

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Kyle Parks

Rental Property Investor · Lakewood, OH · Member since 2016 · 119 posts · 156 votes

9mo

@Patrick Drury how the times change! I remember moving to Cleveland 10 years ago and a pizza delivery driver getting shot in the face over 20 bucks in cudell with duplexes costing 20k ! Too bad I was super broke back then , my plan was to buy a bunch

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Jaycee GreenePro Member
Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 727 votes
9mo
Quote from @Bobbie Russell:

Looking to expand into the Cleveland market. Can anyone provide some insights? I've noticed prices are relatively cheap entry points and looks to have moderate to great cash clow on properties. How about appreciation?

Any insights into this market would be appreciated.

Hey @Bobbie Russell, welcome to the BP Forum! What type of properties most interests you, SFR, 2-4 MF, or 5+ MF? What is your price range/down payment amount? Are you looking for turn-key properties or something along the lines of a "fixer upper"?
[email protected]
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Bobbie Russell
OP
Member since 2025 · 24 posts · 24 votes
9mo
2-4 MF. Limited fixer-upper more turn-key. Looking in the $100k-$120k range. Can be either cash or financing. If financed, i'd put the typical 20% down
1 Reply
- Jaycee GreenePro Member
  Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 727 votes
  9mo
  Quote from @Bobbie Russell:
  
  2-4 MF. Limited fixer-upper more turn-key. Looking in the $100k-$120k range. Can be either cash or financing. If financed, i'd put the typical 20% down
  
  @Bobbie Russell Just to confirm, you're looking to purchase a mostly turn-key 2-4 MF property for $100k-$120k or that's how much you're able to contribute as a down payment?
  [email protected]
  0 Reply
- Bobbie Russell
  OP
  Member since 2025 · 24 posts · 24 votes
  9mo
  Quote from @Jaycee Greene:
  
  Quote from @Bobbie Russell:
  
  2-4 MF. Limited fixer-upper more turn-key. Looking in the $100k-$120k range. Can be either cash or financing. If financed, i'd put the typical 20% down
  
  @Bobbie Russell Just to confirm, you're looking to purchase a mostly turn-key 2-4 MF property for $100k-$120k or that's how much you're able to contribute as a down payment?
  
  $100-120K cash for property of 20% down. Either will work if the numbers look good
  0 Reply
- Jaycee GreenePro Member
  Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 727 votes
  9mo
  Quote from @Bobbie Russell:
  
  Quote from @Jaycee Greene:
  
  Quote from @Bobbie Russell:
  
  2-4 MF. Limited fixer-upper more turn-key. Looking in the $100k-$120k range. Can be either cash or financing. If financed, i'd put the typical 20% down
  
  @Bobbie Russell Just to confirm, you're looking to purchase a mostly turn-key 2-4 MF property for $100k-$120k or that's how much you're able to contribute as a down payment?
  
  $100-120K cash for property of 20% down. Either will work if the numbers look good
  
  @Bobbie Russell Something like this duplex: 1012 E 72nd St, Cleveland, OH 44103?
  [email protected]
  0 Reply
- Marcus Auerbach
  Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
  9mo
  Quote from @Jaycee Greene:
  
  Quote from @Bobbie Russell:
  
  2-4 MF. Limited fixer-upper more turn-key. Looking in the $100k-$120k range. Can be either cash or financing. If financed, i'd put the typical 20% down
  
  @Bobbie Russell
  0 Reply
- Marcus Auerbach
  Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
  9mo
  Quote from @Jaycee Greene:
  
  Quote from @Bobbie Russell:
  
  2-4 MF. Limited fixer-upper more turn-key. Looking in the $100k-$120k range. Can be either cash or financing. If financed, i'd put the typical 20% down
  
  @Bobbie Russell Just to confirm, you're looking to purchase a mostly turn-key 2-4 MF property for $100k-$120k or that's how much you're able to contribute as a down payment?
  
  That is the right question. Even in Cleveland that is the sludge from the bottom of the barrel. Capex will exceed cash flow by a multiple over time (aka money pit), the lack of appreciation does not create equity to offset, real life rent roll looks different than on the spreadsheet. And the poor PM tasked to manage the property for very little money has to deal with constant repairs, tenant calls and other headaches and the realities of a property that is barley liveable and the challenges of finding a half way decent tenant, who still has a 30% statistical default risk just based on their credit score while you are pushing back on every repair in an atempt to actually generate some cash flow. Extremly difficult if you are local and can self manage, but remote and with a PM that adds an extra layer of cost and difficulty. End result is most likely that you will be frustrated and sell the property for what you bought it, minus necessary improvements and broker fees.
  
  Sorry, I don't mean to shut down your idea; I actually mean well. There is a reason seasoned investors will pay over asking for a 300k duplex and the 100k duplex that looks sooo good on paper has been sitting for 120 days without an offer.
  2 Reply
Nicholas L.Pro Member
Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
9mo
@Bobbie Russell
hello and welcome. if you're looking on market and seeing moderate to great cash flow you're likely overlooking something.
1 Reply
- Bobbie Russell
  OP
  Member since 2025 · 24 posts · 24 votes
  9mo
  Quote from @Nicholas L.:
  
  @Bobbie Russell
  hello and welcome. if you're looking on market and seeing moderate to great cash flow you're likely overlooking something.
  
  Please advise. Can you expound? Much appreciated
  0 Reply
Alfath AhmedBusiness Member
Real Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
9mo
Quote from @Bobbie Russell:

Looking to expand into the Cleveland market. Can anyone provide some insights? I've noticed prices are relatively cheap entry points and looks to have moderate to great cash clow on properties. How about appreciation?

Any insights into this market would be appreciated.

You can buy good duplex deals for $150k in B/C locations. They will usually bring in about $1,800 to $2,000 per month. If you want, I've got some resources i can share - investor package, contractor referrals, and neighborhood map. Pm me if you want the info.
[email protected]614-802-5698
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Arman AhmedPro Member
Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 916 votes
9mo
@Bobbie Russell
Cleveland can be solid for cash flow, especially with duplexes and triplexes, and the biggest thing to understand is how street-by-street the market is, since a couple blocks can mean a totally different tenant profile, rent range, and long-term outlook. Appreciation is more moderate, but there are pockets with steady growth, usually where there's redevelopment or strong rental demand. Cash flow generally comes from buying right and budgeting for higher CapEx, since much of the housing stock is older. If you focus on neighborhoods with stable tenant bases and verify rehab needs upfront, Cleveland can produce strong numbers.

[email protected]614-418-6081
1 Reply
Nicholas L.Pro Member
Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
9mo
@Bobbie Russell

sure - not saying this is you, but a lot of folks simply take rent minus mortgage payment and assume that's their cash flow. it's not - that ignores other costs like capex, repairs, vacancy, etc.

say you buy something that looks good on paper and even make assumptions about how much you'll need for repairs. OK, good. but then a few months in, you need a new furnace. how long is it going to take to pay yourself back for the furnace with $80 a month in "cash flow"? or take that property that @Jaycee Greene posted. it said the owner is going to be putting a new roof on. what if they simply don't? or what if they do, but they do a terrible job and it needs to be replaced two weeks in to you owning it? and $500 a month in rent is a huge red flag.
that's what I mean.
2 Reply
- Bobbie Russell
  OP
  Member since 2025 · 24 posts · 24 votes
  9mo
  Quote from @Nicholas L.:
  
  @Bobbie Russell
  
  sure - not saying this is you, but a lot of folks simply take rent minus mortgage payment and assume that's their cash flow. it's not - that ignores other costs like capex, repairs, vacancy, etc.
  
  say you buy something that looks good on paper and even make assumptions about how much you'll need for repairs. OK, good. but then a few months in, you need a new furnace. how long is it going to take to pay yourself back for the furnace with $80 a month in "cash flow"? or take that property that @Jaycee Greene posted. it said the owner is going to be putting a new roof on. what if they simply don't? or what if they do, but they do a terrible job and it needs to be replaced two weeks in to you owning it? and $500 a month in rent is a huge red flag.
  that's what I mean.
  
  Thanks for the insight. I fully understand these factors. I take that into account on the properties I own and am looking to purchase here in Florida too.
  0 Reply
- Jaycee GreenePro Member
  Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 727 votes
  9mo
  Quote from @Nicholas L.:
  
  @Bobbie Russell
  
  sure - not saying this is you, but a lot of folks simply take rent minus mortgage payment and assume that's their cash flow. it's not - that ignores other costs like capex, repairs, vacancy, etc.
  
  say you buy something that looks good on paper and even make assumptions about how much you'll need for repairs. OK, good. but then a few months in, you need a new furnace. how long is it going to take to pay yourself back for the furnace with $80 a month in "cash flow"? or take that property that @Jaycee Greene posted. it said the owner is going to be putting a new roof on. what if they simply don't? or what if they do, but they do a terrible job and it needs to be replaced two weeks in to you owning it? and $500 a month in rent is a huge red flag.
  that's what I mean.
  
  #Facts! ;-)
  [email protected]
  0 Reply
- Clark Thornton
  Property Manager · Orlando, FL · Member since 2025 · 110 posts · 50 votes
  9mo
  Quote from @Bobbie Russell:
  
  Quote from @Nicholas L.:
  
  @Bobbie Russell
  
  Thanks for the insight. I fully understand these factors. I take that into account on the properties I own and am looking to purchase here in Florida too.
  Florida is an extremely landlord friendly state and people keep moving to Florida. Its an outstanding investment market
  0 Reply
Patrick DruryBusiness Member
Real Estate Agent · Columbus, OH & Cleveland OH · Member since 2021 · 1k+ posts · 2k+ votes
9mo
@Bobbie Russell
In Cleveland I would recommend being in areas on the West Side of Cleveland like West Blvd, Cudell, Old Brooklyn, Clark Fulton, Edgewater, Jefferson, and Brooklyn Centre. The reason is the rent-to-price ratio is good so you can cash flow, and most of the West side doesn’t have a Point of sale inspection which is really annoying.

[email protected]614-412-4565
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- Kyle Parks
  Rental Property Investor · Lakewood, OH · Member since 2016 · 119 posts · 156 votes
  9mo
  @Patrick Drury how the times change! I remember moving to Cleveland 10 years ago and a pizza delivery driver getting shot in the face over 20 bucks in cudell with duplexes costing 20k ! Too bad I was super broke back then , my plan was to buy a bunch
  4 Reply
- James Wise
  Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
  9mo
  Quote from @Kyle Parks:
  
  @Patrick Drury how the times change! I remember moving to Cleveland 10 years ago and a pizza delivery driver getting shot in the face over 20 bucks in cudell with duplexes costing 20k ! Too bad I was super broke back then , my plan was to buy a bunch
  
  They haven't changed that much. Sure you can't buy the duplexes for $20k, but the Pizza drivers are still running the same getting shot in the face risk.
  2 Reply
- Kyle Parks
  Rental Property Investor · Lakewood, OH · Member since 2016 · 119 posts · 156 votes
  9mo
  @James Wise 20 bucks is 20 bucks! Is cudell stilll that bad ? It LOOKS nicer I don't have any properties over there . I see people paying dumb money for them though
  0 Reply
- James Wise
  Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
  9mo
  Quote from @Kyle Parks:
  
  @James Wise 20 bucks is 20 bucks! Is cudell stilll that bad ? It LOOKS nicer I don't have any properties over there . I see people paying dumb money for them though
  
  It's the same as it was 10 years ago. Only difference is pricing has moved up due to national housing market pricing moving up.
  
  0 Reply
- Kyle Parks
  Rental Property Investor · Lakewood, OH · Member since 2016 · 119 posts · 156 votes
  9mo
  @James Wise I will continue to avoid like the plague then
  0 Reply
Min ZhangBusiness Member
Real Estate Agent · Member since 2022 · 1k+ posts · 1k+ votes
9mo
Cleveland is definitely one of those markets where the entry price catches your eye first, and the cash flow is usually what keeps people interested. In general, it leans more toward being a cash flow market than an appreciation play. Appreciation does happen, just at a slower and steadier pace compared to some of the faster growing Midwest cities. What most investors like is the wide range of neighborhoods, the amount of inventory, and the ability to get decent returns without needing a huge amount of capital upfront. As long as you’re mindful of the neighborhood differences and run your numbers conservatively, it can be a solid market to build in. Happy to keep the conversation going!
[email protected]614-412-2912
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Kerlous TadresBusiness Member
Realtor · Columbus, OH · Member since 2023 · 1k+ posts · 1k+ votes
9mo
@Bobbie Russell, Cleveland is a cash flow market first. Appreciation happens, but it’s slow and very neighborhood-specific. I’d focus on stable areas like Lakewood, Tremont, and University Circle, and make sure you’ve got a solid local team before you buy.
[email protected]614-490-1163
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Zachariah HaysPro Member
Realtor · Cleveland, OH · Member since 2025 · 18 posts · 4 votes
9mo
@Bobbie Russell
Welcome to Cleveland! There are definitely better entry points here than most...but it comes with a caveat.
Similar to other replies, it depends where you are in the city. Numbers can look great but if the neighborhood is bad, it could affect getting it rented out or how the tenants will treat your home.
Appreciation can happen in Cleveland but it will likely be slower as this is more of a cash flow market. If you buy on some of the "nicer" West side neighborhoods you could potentially see some appreciation over time but not overnight.
Our team works with out of state investors buying turn key rentals (lots of times duplexes), flips and BRRRRs to help build their portfolio here.
We have lenders, property management companies, title companies and inspectors that we work with on a regular basis we would be happy to share with you.

Best of luck and let me know if we can be of any assistance!
[email protected]
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Jimmy LieuBusiness Member
Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
9mo
Quote from @Bobbie Russell:

Looking to expand into the Cleveland market. Can anyone provide some insights? I've noticed prices are relatively cheap entry points and looks to have moderate to great cash clow on properties. How about appreciation?

Any insights into this market would be appreciated.

Hey Bobbie, Cleveland definitely has cheap entry points and you can find solid cash flow depending on the neighborhood, but appreciation there tends to be slower and more hit-or-miss compared to other Ohio markets. If appreciation is something you really want alongside cash flow, I’d also consider taking a look at Columbus since the macroeconomics here are on a whole different level—population growth, job growth, and huge companies like Intel, Amazon, Google, FB, Microsoft, Honda, and LG moving and expanding here. Even with all that growth, you can still find properties in the $120–180K range that hit the 1% rule and cash flow from day one, and the appreciation has been really strong the last few years. A lot of investors compare the two markets, but Columbus usually ends up being the best mix of affordability, cash flow, and long-term upside. Happy to connect and answer any questions you have!
[email protected]614-300-7535
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Marc RiceBusiness Member
Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2018 · 2k+ posts · 1k+ votes
9mo
Quote from @Bobbie Russell:

Looking to expand into the Cleveland market. Can anyone provide some insights? I've noticed prices are relatively cheap entry points and looks to have moderate to great cash clow on properties. How about appreciation?

Any insights into this market would be appreciated.

Hi Bobbie, Cleveland is more about cash flow than appreciation. Depends on what areas you are buying. Happy to share my experience
[email protected]614-363-2787
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Remington LymanBusiness Member
Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
9mo
Quote from @Bobbie Russell:

Looking to expand into the Cleveland market. Can anyone provide some insights? I've noticed prices are relatively cheap entry points and looks to have moderate to great cash clow on properties. How about appreciation?

Any insights into this market would be appreciated.

Some areas of Cleveland have appreciated but it is typically a cheap cash flowing market.
[email protected]614-541-8475 Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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