Best areas for STR in NE Ohio (Greater Youngstown)?

Question

I’m a licensed agent & Multifamily investor based outside of Youngstown. A family member is considering investing in a rental property in the area that can be rented out short-term for extended stays or vacation terms, that they can also use to stay in when they visit from out of state. I’m solid with residential RE and Multifamily stuff but haven’t really dabbled in STR.

Any suggestions for particular areas in NE OH with a strong market for STR?

Any suggestions on what to look for that makes an area particularly good for such use? I feel that with them being out of state it could be tricky to manage, they don’t have to rake in cash flow but I don’t want them to lose their shirt either.

Thank you for sharing tips!

Michael Baum · Answer

Hey @Stephen C Gates, get on the horn with @Dave Stokley. He knows that area well.

Dave Stokley · Answer

Lots of good markets around there. We manage places in, Geneva on the Lake, portage lakes, and elsewhere that do great. Call or dm me if you want to discuss.

Sarah Kensinger · Answer

I live around an hour SW of Youngstown, so I know a bit about that area. To be honest there isn't much draw to the area, people have a reason traveling to Youngstown. So, revenue isn't much in that area. If you head up towards the lake that might help some but of course it would be very seasonal, which of course most of north Ohio is. Mid-term rentals might go better, but that would all depend on how open your family would need the property to for their stays.

Nicole Balsamo · Answer

You can search some different zips in the area on data.rabbu's free market data tool to figure out which specific areas perform best -- that's how i usually narrow down my search

Brooklyn McCarty · Answer

Might try around cedar point?

Stephen C Gates · Answer

@Michael Baum will do, thanks!

Best areas for STR in NE Ohio (Greater Youngstown)?

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