Cleveland is a strong real estate market for investors seeking stability in an area that doesn’t boom in good times and bust in bad times. Though the economy is diverse, the major employer is The Cleveland Clinic, a world-class, multi-specialty academic medical center that integrates clinical and hospital care with research and education. Healthcare is a recession-resilient industry, and healthcare workers, including nurses, X-ray technicians, physician assistants, etc., make fantastic tenants.

• They are one of a few RealWealth markets that (occasionally) offer multifamily opportunities.
• Cleveland offers affordable entry points, good cash flow and solid property management.
• It’s a desirable place to live because its location on Lake Erie offers residents water sports (which is rare in Midwest markets) in addition to its affordability.

• Property taxes can be high, varying a lot from suburb to suburb, though higher rents often offset this.
• The homes purchased by RealWealth members are often 70+ years old, which can lead to higher maintenance costs. We recommend a sewer inspection (along with a full property inspection).
• The city and some suburbs have a Point-of-Sale (POS) system in which a city inspector inspects the property anytime the property is sold. The Cleveland turnkey property team RealWealth refers its members to has a detailed understanding of the POS criteria and proactively addresses potential issues during their extensive rehab process.

This information reflects typical properties purchased by RealWealth members in Cleveland. These numbers are estimates, and the actual property prices and rents will vary based on current inventory.

• Investment Objective: Higher cash flow, lower appreciation
• Types of properties for sale: REAL Income Single Family Rentals in A, B, and C neighborhoods; Occasional duplexes
• Average home price: $125,000 – $150,000
• Average monthly rents: $1,100 – $1,300

The biggest factor that makes Cleveland a good place to invest in real estate today is its affordability. The median home price in the Cleveland metropolitan area is $227,000, 37% lower than the national average. In the areas, where RealWealth members invest, it’s possible to find even better deals ranging from $125,000 to $150,000. Cleveland also offers good cash flow opportunities and stability, which is especially beneficial for newbie investors seeking lower-risk investments.

The turnkey rental property teams we work with in Cleveland sell fully renovated single-family homes and occasionally offer multi-family investment opportunities.