Real estate investors are looking at Cleveland, TN, as a prime area for investments. This city has wide-ranging neighborhoods, each with its own perks. Right now, there are 931 properties on sale. They have a middle price of $369,9001. This makes the area ripe for property investment chances1.
Cleveland also offers an attractive price of $179 per square foot1. As of July 2024, investors can expect an average cash return of 5.00% each month1. The city’s housing market is strong, opening doors for those looking to invest. Plus, the regular income from rental properties is around $2,296 a month1. For more on the top neighborhoods for real estate investments, check out this link: best neighborhoods for real estate.
Key Takeaways
- Cleveland, TN offers diverse neighborhoods with unique benefits for real estate investors.
- The city has 931 properties for sale and a median list price of $369,9001.
- Average price per square foot in Cleveland is $1791.
- Average monthly cash on cash return stands at 5.00%1.
- Rental properties offer an average income of $2,296 per month1.
Downtown Cleveland
Downtown Cleveland is bustling with life. It combines historic beauty and modern perks. This makes it perfect for real estate. More investors are coming because it offers both old-world charm and new-world comforts. This boosts the chance for good profits.
Historic Charm and Modern Amenities
The area boasts gorgeous historic buildings mixed with new ones. This blend is not just pretty but practical for today’s needs. With affordable costs – a median home price of $102,343 and rent at $669 – it’s a great deal for investors2.
Rental Income Potential
Rental properties here promise good earnings. Airbnb can yield a 7.58% return. Regular rents can go above $3,170 a month. With competitive rental prices, it draws in investors. A 1-bedroom goes for $1,512, while a 2-bedroom is $2,2003.
Community Growth and Development
Downtown Cleveland is growing fast. Safety and quality of life have gotten better. It’s now safer than 86% of the city’s areas. This attracts both people and investors. Its thriving community life combines the past and present for real estate growth2.
| Neighborhood | Median Purchase Price | Median Monthly Rent | Crime Rate Safety |
|---|---|---|---|
| Downtown Cleveland | $102,343 | $669 | Safer than 86% |
| Edgewater | $84,333 | $686 | Safer than 83% |
| Ohio City | $124,250 | $683 | Safer than 92% |
| Tremont | $119,745 | $692 | Safer than 94% |
| University Circle | $130,729 | $731 | Safer than 89% |
South Cleveland
South Cleveland’s real estate market is great for those wanting to invest without spending too much. It’s known for its low property prices and good investment returns. Whether you’re starting out or have experience, you’ll find something here.
Affordable Investment Opportunities
If you’re looking to buy property on a budget, South Cleveland is perfect. The median list price is $369,900, ideal for newcomers. Plus, with 931 properties on offer, there’s plenty of choice1. You can find something that fits your budget and investment goals.
Average Property Prices and Returns
Average prices and returns in South Cleveland are promising. The cost per square foot stands at $1791. The area also offers a solid 5.00% return on investment as of July 20241. For Airbnb or traditional rentals, returns range widely, showing potential for profit.
Speaking of rentals, the average monthly income in Cleveland is $2,2961. Airbnb earnings in South Cleveland go from $1,219 to $3,170. Traditional rentals can bring in between $996 and $4,0401. These numbers suggest investing here can be lucrative, depending on your rental strategy.
East Cleveland
East Cleveland is quickly becoming a top spot for real estate investment in 2024. It shows great potential for earning money over both short and long periods. This area is a goldmine for investors seeking to get the most out of their investments.
High ROI for Airbnb and Traditional Rentals
East Cleveland stands out with some of the best returns in the industry. Whether you’re into Airbnb or traditional rentals, this city is a win. Airbnb investments can yield returns of 9.22%, and traditional rentals even higher at 11.91%4. These impressive rates make East Cleveland a strong choice for investment.
New Home Communities and Builders
New housing projects are changing the face of East Cleveland. It’s buzzing with activity thanks to new builders and home communities. Affordable homes and closeness to essential services make it attractive. It’s an ideal place for buying or renting a home4.
Market Trends and Real Estate Analysis
The current market in East Cleveland looks promising for investors. The average monthly rental brings in $2,296. Homes have a median price of $369,900 and $179 per square foot1. Plus, the average cash return is 5.00% in 20241.
Check out more on the best real estate spots in Cleveland, Ohio here.
North Cleveland
North Cleveland is great for those wanting a suburban life with easy city access. It’s perfect for families and professionals. Its housing options, including houses and condos, attract many people. The area is known for excellent schools, making it ideal for families.
Suburban Living with Urban Access
People in North Cleveland get the best of both worlds: quiet neighborhoods and city amenities. It’s best for those who work in the city but love a community feel. Investments in the suburb and local businesses make life here even better. Chattanooga offers more city perks and is just a short drive away5.
Top Rated Schools and Family-Oriented Neighborhoods
The schools here, like North Lee Elementary, are top-notch. They ensure children get a good education. This makes North Cleveland a desirable place for families5. It has a community feel and stable neighborhoods. You’ll find different types of homes that suit many tastes5.
Right now, 74 properties are up for sale in North Cleveland5. The average home price is lower than in many places. This makes it attractive for both families and investors5. Looking for a house? Check out Realtor.com for lots of listings and information to help you choose.
Cleveland, TN Real Estate Investment FAQs
Investors looking into Cleveland for property should know a few things to make the most of their investment. As of July 2024, the average rental income monthly in Cleveland, TN is $2,296. This makes it a great source for passive income1. There are 931 properties available for sale, giving buyers many options to choose from1.
Many ask about the property prices in Cleveland. The median list price is $369,900, with an average of $179 per square foot1. These numbers help investors understand the value of potential investments. Homes in Cleveland usually sell in about 26 days. They often get several offers, showing how competitive the market is6.
When following a buyer’s guide, keep in mind the real estate market in Cleveland has appreciated by 75.58% over 10 years. This means an average of 5.79% per year6. The market favors sellers due to a shortage of homes. This leads to more competition among buyers6.
The average rent in Cleveland is $1,150 a month. About 58% of properties are rented out, and 42% are owned6. For investors, considering both short and long-term rentals could boost returns. The cash on cash return averages about 5.00% per month1.
East Cleveland is the top area for buying investment property in 2024. It offers great opportunities for investors looking to make the most of market trends1. Here’s a summary of key data points:
| Statistic | Value |
|---|---|
| Median List Price | $369,9001 |
| Average Price per Square Foot | $1791 |
| Average Monthly Rental Income | $2,2961 |
| Median Home Sold Price | $127,7506 |
| Average Sale Price per Square Foot | $876 |
| Average Rental Price | $1,1506 |
| Cash on Cash Return | 5.00%1 |
| Properties Available for Sale | 9311 |
| Average Days on Market | 266 |
Understanding these *real estate FAQs* helps investors make wise decisions. This ensures the best returns from their *Cleveland property investment*.
Investment Properties in Blythe-Bower
The Blythe-Bower area is filled with great investment choices. This includes many options for renting out properties and chances for the value of these properties to grow. These features make it a popular spot for investors.
Median List Prices and Rental Incomes
Blythe-Bower has a mix of apartments, townhomes, and houses for all budgets and tastes. You can rent an apartment close to Blythe-Bower Elementary School in Cleveland, TN. The rent varies from $1,100 to $1,5957. The highest rent in this area for a townhome on Arbor Hills Dr is $2,8007. Apartments’ prices start at $750 and can go up to $2,5007.
Traditional rental homes are priced from $900 to $2,8007. This means a lot of different investors can find something in their price range. Near Blythe-Bower Elementary School, the housing market has a lot of options. This attracts a diverse group of renters7.
Property Appreciation Rates
The value of properties in Blythe-Bower is growing, which is great news for the Cleveland market. Even when other places face tough times, Cleveland’s housing market stays strong5. The area’s reasonable property taxes make investments here even more appealing5. Smart investors see the opportunities in Blythe-Bower for long-term growth thanks to these market conditions.
Below is a detailed table showing important figures for the Blythe-Bower neighborhood:
| Property Type | Median Rent ($) | Rent Range ($) |
|---|---|---|
| Apartment | 1,350 | 750 – 2,500 |
| Townhome | 2,800 | N/A |
| House | 1,850 | 900 – 2,800 |
Potential of Investing in Rolling Hills
Rolling Hills is a shining beacon in Cleveland, TN. It’s known for its strong sense of community. This area is great for both short and long-term investments. It’s important for investors to understand what makes Rolling Hills special. They can look at investment returns and community perks. Because of these, Rolling Hills is a great place to buy real estate.
Long-Term vs Short-Term Investment Returns
In Rolling Hills, the length of your investment matters a lot. Long-term investments here grow steadily over time. They do better than short-term ones. For example, Ohio’s farm values went up by 10.4% last year. This growth shows strong market potential in places like Rolling Hills best places to invest in rental property8. The city of Cleveland is also investing in its future. They’re spending $1.3 million on roadwork and $639,234 on a new fire engine, raising property values9.
Community Amenities and Infrastructure
Rolling Hills offers great facilities and infrastructure improvements. There’s a greenway project near Westmore Church of God, funded by donations9. Ohio’s rich soil is perfect for farming, attracting agriculture investors8. These features improve residents’ living standards. They make the area appealing to those looking for a long-term home or a rental.
There are more upgrades in the area. For example, large culverts are being replaced, and a new sidewalk is being built on Candies Lane9. These changes make the neighborhood safer and more accessible. Overall, Rolling Hills is a great place for investment. It offers solid returns and enhances the community.
Woodstream Neighborhood
The Woodstream Neighborhood in Cleveland, TN is a desirable area. It offers an upscale living experience. Homes here are available for every type of investor10.
Investors will like the Woodstream Neighborhood for its high living standards. It offers homes with various bedrooms and bathrooms. This makes it easy to find a perfect match for their needs10.
The investment outlook in Woodstream is very good. Demand for upscale houses is rising. Investors have a great chance to profit from high-end rental properties10.
Woodstream stands out among Cleveland TN’s upscale neighborhoods. It provides excellent amenities and good investment returns. Buyers can find homes ranging from $300,000 to over $2,000,000. This ensures a wide selection for every budget10.
Conclusion
Cleveland, TN, is a fantastic choice for expanding your real estate portfolio. It boasts diverse neighborhoods, each with its own appeal. Downtown Cleveland mixes old-world charm with new comforts. Meanwhile, East Cleveland shines with its high return potential for Airbnb and traditional rentals. Market trends and new homes in East Cleveland show its growing appeal11.
North Cleveland draws families with its suburban feel and top schools. It’s great for long-term investments. Blythe-Bower features attractive median prices and rental income prospects. It promises good growth in property values. The welcoming vibe and good amenities in areas like Rolling Hills fit various investment goals11.
The city is growing steadily and offers chances for good investment returns. From South Cleveland’s affordable spots to Woodstream’s lucrative homes, there’s something for everyone. This overview confirms Cleveland as an emerging market. It’s perfect for growing your investment and enhancing your lifestyle12.
FAQ
What makes Cleveland, TN, an attractive market for real estate investors?
Cleveland, TN, has many neighborhoods, each with its charm. Homes average at $369,900, while rents are about $2,296. This makes the city great for investors.
How does Downtown Cleveland compare to other neighborhoods for investment?
Downtown Cleveland is a mix of old and new, attracting many people. Airbnb can bring in 7.58% returns; traditional rentals can go over $3,170. Its growth makes it a smart choice for investment.
Are there affordable investment opportunities in South Cleveland?
Yes, South Cleveland is more budget-friendly but still offers good returns. It’s perfect for investors looking for value without the big price tag.
Why is East Cleveland considered the best neighborhood for investment property in 2024?
East Cleveland is booming with strong returns on both Airbnb and traditional rentals. New communities and builders are flocking here. Airbnb yields can hit 9.22%, and traditional ones 11.91%.
What draws families and professionals to North Cleveland?
North Cleveland favors a suburban life near the city, great for families and workers. Top schools and a community feel promise steady demand for homes.
How many investment properties are currently available in Cleveland, TN?
Currently, Cleveland, TN, has 931 properties waiting for investors.
What are the median list prices and rental income figures for properties in Blythe-Bower?
Blythe-Bower features a variety of properties, with rents averaging at $2,300. Steady rental income and growth make it a wise choice for investors.
What factors make Rolling Hills a desirable long-term investment?
Rolling Hills excels in long-term gains, beating short-term investments. It’s the amenities and upgrades that draw people and investors here.
What investment opportunities does the Woodstream Neighborhood offer?
The Woodstream Neighborhood is for those wanting luxury living. It meets the demand for high-end rentals, promising investors good returns.
What are the average rental incomes and cash on cash returns in Cleveland, TN?
In Cleveland, TN, rentals bring in an average of $2,296 a month. The monthly cash return is around 5.00%, showing solid investment potential.
Source Links
- Cleveland, TN Investment Property for Sale | Mashvisor – https://www.mashvisor.com/tennessee/cleveland-investment-property-for-sale/c
- 5 Safe, Affordable Neighborhoods in Cleveland in 2024 | Extra Space Storage – https://www.extraspace.com/blog/moving/city-guides/safe-affordable-neighborhoods-cleveland/
- 20 Popular Cleveland Neighborhoods: Where to Live in Cleveland in 2024 – https://www.redfin.com/blog/cleveland-oh-neighborhoods/
- Best Neighborhoods and Places To Invest In Cleveland, Ohio – Ark7 – https://ark7.com/blog/learn/cities/best-neighborhoods-and-places-to-invest-in-cleveland-ohio/
- Cleveland TN Homes for Sale – https://www.mattwardhomes.com/cleveland/
- Cleveland Real Estate Market Everything You Need to Know – https://www.doorloop.com/blog/cleveland-real-estate-market
- Apartments for Rent near Blythe- Bower Elementary School, Cleveland, TN – Home Rentals | realtor.com® – https://www.realtor.com/apartments/Cleveland_TN/schools/Blythe-Bower-Elementary-School-0767145701
- Pros and Cons of Buying Land in Ohio – https://www.landboss.net/post/pros-and-cons-of-buying-land-in-ohio
- PDF – https://www.clevelandtn.gov/DocumentCenter/View/2005/June-2020-Cleveland-Connector-Newsletter
- Heritage Park Real Estate | Heritage Park Properties for Sale – https://www.ownyourparadise.com/heritage-park-homes-for-sale/
- Best Cities to Invest in Wholesale Real Estate 2024 – https://www.dealmachine.com/blog/best-cities-to-invest
- Turn-Key CLE – Cleveland Real Estate Investment – https://turnkeycle.com/
