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Welcome Back,

Hi there, I hope you had an amazing Monday to start your week off. Today we are back to dive back into another real estate market you can consider investing in. Today’s real estate market is in the amazing state of Ohio. Enjoy!

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Real Estate Investing

Market Snapshot:

Cleveland, Ohio
The Cleveland real estate market is experiencing steady growth, fueled by increased demand for affordable housing and a surge in rental investments. The median home price is $154,000, up 6.1% year-over-year, making it one of the most affordable metro areas in the U.S. Rental demand is strong, with average monthly rents rising to $1,250, supported by the city's expanding healthcare and technology sectors. However, inventory is tight, with active listings down by 5.7% from last year.

Median Home Price: $154,000
YoY Price Growth: 6.1%
Active Listings: 3,800 (down 5.7% from last year)

Deal Of The Day:

Fourplex in Ohio City, Cleveland
Price: $850,000
Units: 4 (3-Bed, 1-Bath each)
Monthly Rental Income: $6,000
Cap Rate: 8.0%

This fourplex in Cleveland’s trendy Ohio City neighborhood offers a robust cap rate of 8.0%, with each unit renting for $1,500 per month. Located close to restaurants, entertainment, and major job hubs, the property promises strong tenant demand and long-term appreciation potential. Perfect for investors looking to balance immediate cash flow with future growth opportunities.

Deal Rating: 8/10

I would say this is one of the better properties we have gone over for a couple big reasons. The biggest reason is it’s high potential for appreciation due to it’s proximity to downtown Cleveland on top of it being located in a great area. Cash flow might be tight or non existent at first but will see a quick growth.

Real Estate Tip:

Investment Strategy:

Use Equity as Leverage
If you own an existing property, consider leveraging its equity to fund your next investment. For instance, a home purchased at $200,000 that has appreciated to $300,000 provides $100,000 in equity. You can use a home equity line of credit (HELOC) or a cash-out refinance to access these funds and expand your portfolio without additional savings.

This approach works well in appreciating markets, allowing you to scale quickly while keeping capital tied to assets. Ensure your rental income covers additional loan payments to maintain healthy cash flow.

Current Interest Rates:

Cleveland, Ohio
30-Year Fixed Residential: 6.85%
15-Year Fixed Residential: 6.15%
Commercial Rates: Starting at 6.6%

Mortgage rates in Cleveland are slightly above the national average. Residential rates provide opportunities for first-time buyers, while commercial loans favor seasoned investors in multifamily properties. As rates remain stable, locking in now could mitigate future increases.

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How to Identify Hidden Gems in Real Estate

Investors often overlook properties that are undervalued due to cosmetic flaws or outdated features. However, these properties can offer significant upside with minimal investment. For example, a home listed for $150,000 in a desirable neighborhood might need $20,000 in renovations to match nearby homes valued at $200,000.

Start by focusing on:

• Neighborhood trends (check nearby development or rising rental rates).

• Homes with structural soundness but dated interiors.

• Local zoning changes that could increase property value.

Such opportunities allow you to create equity while keeping acquisition costs low, ensuring both short-term returns and long-term appreciation.

Economic Conditions

Cleveland's economy is on an upswing, driven by its 4.2% unemployment rate, the lowest in five years. Key industries like healthcare, biotechnology, and advanced manufacturing are expanding, drawing talent to the city. Additionally, Cleveland has benefited from over $5 billion in infrastructure investments since 2020, improving connectivity and boosting property values. However, inflationary pressures persist, with construction costs up 3.5% year-over-year, potentially impacting new developments.

Market Rating: 7/10

This market definitely shows some great potential for the upcoming years on not only property value appreciation but also a significant rent increase in the area. At it’s current position it’s still a good market although you will have to be extremely careful with the area in which you buy as Cleveland’s areas are not yet aligned.

Key Takeaways:

• Market Snapshot: Cleveland remains an affordable market with rising rents and property values.

• Deal of the Day: A $850,000 fourplex in Ohio City offers an 8.0% cap rate and $6,000 monthly income.

• Real Estate Tip: Long-term rentals near job hubs provide stability and consistent income.

• Investment Strategy: Use property equity to fund new acquisitions and scale your portfolio.

• Interest Rates: Residential rates at 6.85%, slightly higher but still manageable for buyers.

• Economic Conditions: Cleveland’s unemployment is at 4.2%, with infrastructure investments boosting real estate.

That’s All For Today

I hope you enjoyed today’s issue. If you have any questions regarding today’s issue or future issues feel free to ask. Come back tomorrow for information on how to grow your income and wealth. I hope to see you.

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