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Cleveland Real Estate Investing + Turnkey Properties for Sale

Cleveland real estate investing is incredibly affordable — just $125,000 and $150,000 for SFRs and duplexes sold by the turnkey property team in RealWealth's network. This real estate market is best for cash flow. Learn more about Cleveland's real estate market, view pro formas and connect with the property team below.

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.

Pros of Investing in Cleveland

  • 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.

Things You Should Know about Cleveland Real Estate Investing

  • 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.

Cleveland Real Estate Investment Opportunity Quick Facts

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.

Cleveland real estate investment opportunity infographic
  • 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

Is Cleveland a good place to invest in real estate

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.

Turnkey Rental Properties for Sale in Cleveland

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

Single Family Rental Sold by the Cleveland Property Team for $239k
2
1
2,040 SQ. FT
Location: Euclid,
Ohio
Property type: Single Family Rental
Purchase price: $239,900
Gross rent: $2,190
Cap rate (year 1): 8.2
Cash flow (year 1): $5,308
Single Family Rental Sold by the Cleveland Property Team for $159K
3
1
1,150 SQ. FT
Location: Maple Heights,
Ohio
Property type: Single Family Rental
Purchase price: $159,900
Gross rent: $1,500
Cap rate (year 1): 8.4
Cash flow (year 1): $4,278
Single Family Rental Sold by the Cleveland Property Team for $164K
3
2
1,440 SQ. FT
Location: Newburgh Heights,
Ohio
Property type: Single Family Rental
Purchase price: $164,900
Gross rent: $1,500
Cap rate (year 1): 8.3
Cash flow (year 1): $4,239
Single Family Rental Sold by the Cleveland Property Team for $125k
2
1
1,264 SQ. FT
Location: Cleveland,
Ohio
Property type: Single Family Rental
Purchase price: $125,000
Gross rent: $1,208
Cap rate (year 1): 8.4
Cash flow (year 1): $3,520

About RealWealth

We're Rich and Kathy Fettke, CoFounders of RealWealth, a real estate investment club dedicated to helping busy professionals create real wealth by investing in cash flowing and appreciating rental properties in today's hottest markets. We simplify the process of investing in real estate by connecting investors with vetted resources like lenders, attorneys, CPAs, 1031 exchange intermediaries and turnkey providers that sell single and multi family homes nationwide.

Become a member to take advantage of these investor benefits today. It's 100% free.

Do you want passive income?

RealWealth connects you with vetted nationwide turnkey providers. Ready to start investing in cash-flowing and appreciating rental properties?

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