|Price/Rent PSF||$ 1,823,000.00|
|SQ. FT. Available||43,889|
Ohio is officially also known as the Buckeye State and is located in the Great Lakes region. Ohio is the 7th most populous and the 10th most densely populated states in the United States. Ohio's geographic location has proven over the years to be an asset for economic growth and expansion. The Small Business & Entrepreneurship Council ranked the state No. 10 for best business-friendly tax systems in their Business Tax Index including a top corporate tax and capital gains rate that were both ranked No. 6 at 1.9%. Ohio has the third largest manufacturing workforce behind California and Texas. Headquartered in Ohio, Procter & Gamble, Goodyear Tire & Rubber, AK Steel, Timken, Abercrombie & Fitch, and Wendy's.
Cleveland is the state's second-largest city, with a population of 388,072, making Cleveland the 51st largest city in the United States. Cleveland is home to Cleveland State University, Playhouse Square Center, The Cleveland Museum of Art, The Cleveland Orchestra, Case Western Reserve University, The Cleveland Clinic, Rock, and Roll Hall of Fame, Forest City Enterprises, and University Hospitals. Cleveland is home to the corporate headquarters of many large companies such as Applied Industrial Technologies, Cliffs Natural Resources, Forest City Enterprises, NACCO Industries, Sherwin-Williams Company and KeyCorp. NASA also maintains a facility in Cleveland, the Glenn Research Center. Ohio home sales are increasing in general, and Cleveland real estate has had a significantly strong November in 2016. Not only that, but Cleveland is also displaying growing income and a stable and robust job market. And homes in Cleveland real estate have been regaining their value after the 2008 recession. According to Article published on Mashvisor.com.
Located in Cleveland, Ohio, this 34 Home SFR investment portfolio opportunity offers an investor immediate cash flow in the growing Cleveland market. With the option to be packaged for an investor with, a 26 Home Portfolio and a 294 home portfolio in Akron, along with an 11 home portfolio in Cleveland Heights. This will offer the opportunity to acquire either the whole combined portfolios of 366 homes or a separate package of 11, 294, 26 or 34 Homes in one of the fastest growing markets in the country. Even though Cleveland is just below the national average, over the past year they have exploded and seen a 21.2% home value growth, predicting a 7.7% increase over the next year. The average vintage of homes in this portfolio is 1925 but offers spacious square footage of 1323 per home. There are 8 - 2 bed / 1 bath homes, 15 - 3 bed / 1 & 2 bath homes, 9 – 4 bed / 1 & 2 bath homes, 1 - 5 bed / 2 bath home and 1 - 6 bed / 2 & 3 bath homes, majority having 1 to 2 car garages. These spacious floor plans range from 912-2400 livable square feet, averaging 1323 SF in total. Rental rates throughout the portfolio are roughly 5% below market rates, which are continuing to climb in this submarket and will continue bringing increased cash flow to investors bottom line over the next few years.
Cleveland’s market has exploded over the past year and is still showing signs of growth over the national average. Cleveland is a large city located in the state of Ohio. With a population of 385,809 people and 176 constituent neighborhoods, Cleveland is the second largest community in Ohio. Cleveland has a large stock of pre-World War II architecture, making it one of the older and more historic cities in the country. Cleveland, like many big cities in America, has a public transportation system, which is one of the most extensive and widely used. Many commuters choose to leave their cars at home and instead use the bus to get to and from work. In fact, for some people it is feasible to forgo car ownership entirely, avoiding the cost and headache of driving in heavy traffic. The benefits include reduced air pollution and load on the road network.
Single-family detached homes are the single most common housing type in Cleveland, accounting for 46.50% of the city’s housing units. People in Cleveland primarily live in small (one, two or no bedroom) single-family detached homes. Cleveland has a mixture of owner-occupied and renter-occupied housing. The housing in Cleveland was primarily built before 1939 (53.56%), making the housing stock in Cleveland some of the oldest overall in America.